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Man Living in Cave Faces Foreclosure
ABC News ^
| February 24, 2009
| SCOTT MAYEROWITZ
Posted on 02/24/2009 2:03:14 PM PST by americanophile
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To: Just another Joe
Groundwater, gravity, and erosion never stop - eventually the cave, uh, caves-in. The ceiling falls down, in other words.
21
posted on
02/24/2009 2:12:24 PM PST
by
SatinDoll
(NO FOREIGN NATIONALS AS OUR PRESIDENT!!)
To: MeanWestTexan
Um, sounds like he should have paid the debt first. That's what a responsible person would do. Obama and the Dems have no need for responsible people other than their money.
22
posted on
02/24/2009 2:12:39 PM PST
by
Carling
("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
To: avacado
Looks like he went a little overboard on the landscaping.
I'd be glad to live there, but I'm not commuting to Texas every day.
To: americanophile
80 000 / 60 = 1 333.33333.
If my math is correct, $1333 per month is not bad rent for a 17,000 sq ft air-conditioned mansion on 2.8 acres. Too bad about the lost renovation costs.
To: SatinDoll
Yeh, I know. I knew a couple that lived in an underground house once.
I asked them what was the nost difficulty they had.
The answer - mold.
25
posted on
02/24/2009 2:16:05 PM PST
by
Just another Joe
(Warning: FReeping can be addictive and helpful to your mental health)
To: americanophile
He puts 80K down, during the fat times NEVER gets a 30 year mortgage for the remaining 80K, THEN puts 150K into it, and NOW can't make a balloon payment that he knew was coming for five years.
The note holder can get a $300K house because the guy is defaulting on an 80K loan.
26
posted on
02/24/2009 2:16:23 PM PST
by
Richard Kimball
(We're all criminals. They just haven't figured out what some of us have done yet.)
To: Jim Robinson
Make a nice new home for the FR servers, don’t you think?
27
posted on
02/24/2009 2:17:00 PM PST
by
patton
(America is born in Iceland, and dies in California)
To: americanophile
Besides the initial $80,000 payment, Sleeper said he spent another $150,000 on renovations to the cave and the surrounding 2.8 acres he owns. The FIRST THING they should have done was pay off the note, KNOWING it was a five-year balloon note.
I'm apologize.
I find it impossible to feel sorry for stupid people.
It's just not in my nature.
28
posted on
02/24/2009 2:18:23 PM PST
by
E. Pluribus Unum
("Only after disaster can we be resurrected." -- Tyler Durden)
To: americanophile
What kind of mortgage/real estate deal was that?
I’ve never heard of that kind of boondoggle.
29
posted on
02/24/2009 2:18:44 PM PST
by
GOP_Lady
To: patton
To: avacado; stylecouncilor
To: Jim Robinson
Yeah, about 56 degrees constant year round, raised somewhat by the heat of the machines. No climate conditioning required for the server farm at all.
;)
32
posted on
02/24/2009 2:22:12 PM PST
by
patton
(America is born in Iceland, and dies in California)
To: SatinDoll
To: patton
And pretty much storm-proof at that. ;-)
To: VRWCmember
Finance is not his strong suit.
35
posted on
02/24/2009 2:24:13 PM PST
by
Straight Vermonter
(Posting from deep behind the Maple Curtain)
To: GOP_Lady
All sorts of folks buy homes under “land contracts” - that is where the seller holds the financing for some set period of time, after which you have to pay up.
It is common in the midwest, especially when the buyer needs to build a house, before he can get conventional financing.
36
posted on
02/24/2009 2:24:30 PM PST
by
patton
(America is born in Iceland, and dies in California)
To: americanophile
37
posted on
02/24/2009 2:26:03 PM PST
by
ari-freedom
(Hail to the Dork!)
To: americanophile
That’s almost as awesome as folks buying up old Minuteman and Titan missle silos and renovating them.
38
posted on
02/24/2009 2:26:49 PM PST
by
randomhero97
("First you want to kill me, now you want to kiss me. Blow!" - Ash)
To: BuckeyeTexan; Jim Robinson
Yeah - but - the electric service, from the photo, seems to be overhead, and it looks like a 10KVA pot. Way too small for a server farm, and only slightly more reliable than power in CA.
Out of curiosity, I emailed a friend - STL DOES have eathquakes, which makes a cave somewhat iffy.
Of course, the FR staff are used to earthquakes...LOL.
39
posted on
02/24/2009 2:28:02 PM PST
by
patton
(America is born in Iceland, and dies in California)
To: americanophile
His mortgage is about to come due and, like millions of other Americans, he can't refinance. Subterranean sub-prime.
40
posted on
02/24/2009 2:28:16 PM PST
by
Oldeconomybuyer
(The democRATS are near the tipping point.)
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