Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don’t feel guilty about it. Don’t think you’re doing something morally wrong.
That’s the incendiary core message of a new academic paper by Brent T. White, a University of Arizona law school professor, titled “Underwater and Not Walking Away: Shame, Fear and the Social Management of the Housing Crisis.”
White argues that far more of the estimated 15 million American homeowners who are underwater on their mortgages should stiff their lenders and take a hike.
“Borrowers who walk away from their mortgage obligations face serious consequences” including severely depressed credit scores for extended periods, Fannie Mae spokesman Brian Faith said. In addition, he said, “there’s a moral dimension to this as homeowners who simply abandon their homes contribute to the destabilization of their neighborhood and community.”
Sorry, Brian, but fuck off. A mortgage is a contract made between the homeowner and the lender within the bounds of the laws of one’s state. The part about giving up the home to the lender in the event that the homeowner no longer is able or willing to keep making payments on the mortgage is part and parcel of the contract. Your claim that it “destabilizes the neighborhood” can simply be more honestly translated as “we cannot sell the repossessed house right now”
If the lender does not want to deal with the burden of trying to unload a repossessed house, the lender can renegotiate the terms of the mortgage with the borrower: something that a mortgage lender of a primary residence has the exclusive right to do and that a bankruptcy judge cannot force him to. Calling on a “moral” dimension is fucked up. Implicit in your statement is that families are not entitled to make “business decisions.” But you know who is entitled? Why, businesses of course. When businesses laid off millions workers in 2008 and 2009, it was purely a “business decision” and nobody was allowed to talk about the “moral dimension”. When Wall Street banks “wrote down” hundreds of billions in losses, it was purely a “business decision.”
So fuck you and your bullshit “moral dimension”, and read the damn contracts you wrote yourself.
Storing card numbers in an unsearchable form is simple with the correct discipline: encrypt with an asymmetric cipher (PGP will do) and practice good key management. But these ciphers use a random session key every time they encrypt something, so it isn’t possible to search with a number by–say–encrypting the same number with the same cipher and key and searching your database for the binary output.
”Ah hah, but I’ll just hash the number!” you say, knowing that hashing algorithms like the SHA family are extremely preimage resistant–meaning you can’t take a hash value and run it in reverse to discover the original number. You can’t “un-bake a cake”, so to speak.
But credit card numbers are so small. They’re only 14 to 16 digits. If you merely hashed them then a hacker with a rainbow table would unlock your entire database in seconds.
So you’ll salt them, right? You’ll salt the hash (concatenate the number with a unique word) and that will prevent the use of a rainbow table, right? Wrong again.
I decided that because this woman thought it was okay to make me feel uncomfortable in my home, I would retaliate and make her feel just as uncomfortable, if not more.
This woman was wearing a ankle-length corduroy skirt, which, as we all know, is a fashion nono. So, in order to make her feel uncomfortable, I stood next to her and held a sign that said Corduroy skirts are a sin! I don’t think I have ever drawn so much attention in my life. SO many people asked to take a picture with me, I got laughs, high fives and there were the few that even cursed off the woman standing behind me.
As I drew interest to what was going on with myself and the woman with the hateful sign, I started to draw a crowd that stood with me in support. Before I knew it I had 100 people holding signs for gay rights asking people to honk their horns to support. I was interviewed by a news station, and more than 5 student organization papers, and the post standard of syracuse.