Posted on 06/09/2011 11:10:52 AM PDT by Scythian
MODERATOR, I OPENED THIS UNDER CHIT CHAT AND WANT MY TITLE, THIS IS NOT A NEWS STORY POSTING
Charles and Jill Segal have not made a mortgage payment in nearly five years -- but they continue to live in their five-bedroom West Palm Beach, Fla. home.
Lynn, from St. Petersburg, Fla., has been living without paying for three years.
In Thousand Oaks, Calif., an actor has missed 30 payments, and still, he has not lost his home.
They're not alone.
Some 4.2 million mortgage borrowers are either seriously delinquent or have had their cases referred to lawyers to pursue foreclosure auctions, according to LPS Applied Analytics. Of those, two-thirds have made no payments at all for at least a year, and nearly one-third have gone more than two years.
http://finance.yahoo.com/news/Foreclosure-limbo-Staying-cnnm-989137852.html?x=0
I FEEL LIKE A COMPLETE IDIOT, I ALWAYS PAY MY MORTGAGE ONTIME AND HAVE EXCELLENT CREDIT. HOWEVER, THE ECONOMY IS GOING TO EVENTUALLY CRASH AND WE'LL ALL LOSE OUR HOMES, SO I CANNOT FIGURE OUT WHY I AM PAYING RATHER THAN JUST STOP PAYING AND SAVING THE MONEY?
I GUESS BECAUSE MORALLY I COULDN'T DO THAT, AND I MADE SURE I COULD AFFORD MY HOUSE, AND I GOT A FIXED RATE MORTGAGE RATHER THAN GAMBLE THAT I WOULD EVENTUALLY BE ABLE TO AFFORD IT LIKE THE REST OF THESE LOSERS. I'M PISSED.
(Excerpt) Read more at finance.yahoo.com ...
A mortgage agreement is a legal contract. We live in a civil society with obligations to fulfill contracts.
Not paying your mortgage, and keeping the money you owe the bank who lent it to you is very risky & short sighted. Morally reprehensible IMHO.
Do the right thing, no matter what others around you are doing.
Sorry.
After the example the banksters set, paying your obligations is now for suckers only.
I don’t believe this story for a moment. How would the loan closings be completed if the seller’s bank was not being paid by the buyer’s bank?
The wicked borrows but does not pay back,
but the righteous is generous and gives
-- Psalm 37:21
You gotta wonder. Do these deadbeats get to escape any accrued interest on the unpaid balance?
I don’t know about that, but I bet a million bucks that they are paying property taxes because if they weren’t, they would be out of that house faster than they can say “foreclosure”. They are extremely strict about property taxes.
“Do the right thing, no matter what others around you are doing.”
Thought this sentiment should be repeated!!!
Oh, these examples are very real ...
http://finance.yahoo.com/news/Foreclosure-limbo-Staying-cnnm-989137852.html?x=0
The math:spin options:
1. The house is now worth $100,000 ($235,000 - $135,000) more than when she bought it:She made some bad decisions, and now she’s paying for it.
2. She lost $515,000 ($750,000 - $235,000) on this house because of evil bankers:She deserves sympathy.
Are you joking, she deserves sympathy? Hardly
Your house is going too fall like a stone regardless, as there are literally ten to fifteen years worth of homes that should never have been built.
The housing bubble began under Carter and really accelerated under Clinton. If you have you have bern here more than ten years so all of this has been explained to you.
Millions of homes are going to wind up unoccupied and will slowly decay.
If you want them bulldozed, do it on your dime.
Taking the equity out of the house is a far cry from selling it to relatives.
I’m not sure “honor” is really the issue when it comes to financial investments. What I mean is, you simply make a choice: do you want good credit or bad credit? If you want the former, you pay your mortgage; if you want the latter, you don’t pay your mortgage.
A mortgage agreement is a legal contract. We live in a civil society with obligations to fulfill contracts.
Not paying your mortgage, and keeping the money you owe the bank who lent it......
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What if the bank that “lent you money” didn’t actually lend anything and the real lender is not disclosed on any of your documents ... you’re holding a void contract.. how do you honor a contract that doesn’t exist? After 30 years and 360 payments you’re going to be REALLY upset when you find out the ownership of the house cannot be determined... Will the “bank” give you a big wet kiss for all the payments received in repayment of their fiction?
For fun go back to your title/closing company and get a copy of the checks produced and the wire instructions/confirmation from the funding agent (”intermediate funding agent”) along with the disbursement instructions and copies of any mail/e:mail from the file you can get,, that and find the beneficiary on the title insurance policy you had to buy on behalf of the bene will tell the story. THEY HAVE TO GIVE YOU THE FILES .. YOU OWN THEM YOU PAID FOR THE WORK ... LEARN ... THEN YOU CAN SPEAK OUT...
Most of these people don’t understand the full story but they have the right idea ,, kind of like how my 81 year old mother knows how to drive but has never known how or why the car works ... she knows the results of turning the key or pressing the brake just as these people know the “lenders” can’t produce ownership docs without resorting to felonious activity ,, forging new docs with false signatures in the names of defunct entities and presenting them to the courts as if they were real documents... Why is that??? Makes yo go HMMMMM...
After a while a person becomes the sum of their choices.
Please read and learn ,, don’t get mad ,, get even
Women hasn’t paid mortgage in over 25 years
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And she is correct in doing so ... I’m familiar with that case ..
Pro 23:17 Let not thine heart envy sinners: but [be thou] in the fear of the LORD all the day long. Pro 23:18 For surely there is an end; and thine expectation shall not be cut off.
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