So lets do some high school economy here.

When you borrow a quarter from a friend for a candy bar, on loan with no interest (assuming your friend cannot calculate for interest at this time, or is nice enough to let you freely spend without risk of interest) how do you recoup that debt? You pay it back.

Or you face the wrath, with lenders it usually some repo man.

What is equity? Home equity is the value of a homeowner's unencumbered interest in their property, i.e. the difference between the home's fair market value and the unpaid balance of the mortgage and any outstanding debt over the home. Equity increases as the mortgage is paid or as the property enjoys appreciation. This is sometimes called real property value in economics.

In short if your house costs 10 dollars, and you have payed 5 dollars. You can take a loan out on the 5 dollars that you still need to pay.

In short, don't do it, the asset is not liquid.

Liquid assets are the easiest to make into cash. Basically Commodities that you own.

An equity loan is a loan based on numbers, and in essence has no value.

In certain countries it is tax deductible meaning these governments reward this kind of thing.

FFS: You cannot continue to trade on numbers on paper. They have no value, promissory notes have no value. If currency has no real liquid asset behind it then it is not worth any thing.

it's a movie coming out in November. "Repo: The Genetic Opera"

"Hey, Georgian black people! No credit check so you can drive in bling just like Credit MacDaddy while you aren't paying child support to your baby's mama! And when you can't pay off your car we'll garnish your minimum wage Taco Bell checks and repo that car like a subprime home loan! But for two whole months you'll be riding fat[sic]!"

I'd say it's pretty overt racism. And when did "Mack Daddy" become it's Scottish derivation "MacDaddy"?

Tags for this video have been changed from 'repo man, emilio estevez, tracy walter, flying saucers, time travel' to 'repo man, scientology, hubbard, estevez, tracy walter, flying saucers, time travel' - edited by therealblankman

That looks like the repo-man to me. He was just trying to get around the corner so he could finish attaching it.

Oooo sweet.. makes me want to watch "Repo Man" again.

This guy will be out of the repo business real quick if this is the way he handles repo jobs.

"When seizing the vehicle, your creditor may not commit a "breach of the peace" by, for example, using physical force or threats of force. Taking your car over your protest or removing it from a closed garage without your permission also may constitute a breach of the peace, depending on the law in your state. Should there be a breach of the peace in seizing your car, your creditor may be required to pay a penalty or, if any harm is done to you or your property, to compensate you. Also, because of a breach of peace, your creditor may lose the right to collect a "deficiency judgment." A deficiency judgment is the difference between what you owe on your loan and what your creditor receives when reselling your vehicle."

...repo men are scum like any other finance grunt....bottom-feeders-he shoulda been cool, u-turned, and give the delinquent customer her poise back.....could'a dropped it out the window......punk.

Son of Bette Nesmith Graham, the inventor of Liquid Paper. Former Monkees member Michael Nesmith, inherited the $50+ million estate of Liquid Paper upon her death. Exploring the world of video production further, he created a television program called Pop Clips for the Nickelodeon cable network. The concept was sold to Time Warner/Amex, who developed it into the MTV network. He was the executive producer for the movie Repo Man.

That and the repo man (when you can't make your car payment and put gas in the fucker at the same time) would have less time to make a getaway. Our's works faster, and thats the American way