Posted on 08/09/2010 6:15:50 PM PDT by MrPiper
This is no joke,, the wife and I are trying to buy a house financed by none other than freddi/fanny,, the perp living there can't make the payments OR the second mortgage he took out to pay for his car...{there are holes in the walls, grass not cut for months, etc...
FANNIE/FREDDIE,(your tax dollars) will PAY him $1500 BUCKS,, to leave, even though he has not paid a house note in damn near a YEAR,,to "leave the keys" and move out, all this BEFORE they will consider our offer of 40% less than he paid for it!!!AND IT HAS NOT BEEN FORECLOSED ON YET!!!!!
keep your bible close and your rifle closer,,, we are lost!!
it’s reparations.
Its probably cheaper to pay him $1500 than it is to forcibly evict him. We do live in a very sick society. I too, am proud to cling (but not really bitterly) to my God and guns!
Tell them you’ll not pay them, too, but will take better care of the house, so that in about 10 or 20 years, when you might want to change addresses and they get tired of tacking eviction notices to the door, they can pay you the going rate to move out with a well-maintained house to pass on to the next resident. Who knows, they might even be able to sell it!
I'm not kidding,, that will be the second offer,, thanks for the idea!!!
Some estimates say there are over a million homes in this country that should have been foreclosed upon but that have not been.
Why?
Is it because banks have a heart and don’t want to kick people out of their “HOMES”?
Or is it because Obammie the Commie is doing such a great job protecting their “HOMES”?
No.
It is because if the banks do not foreclose, they can count that inventory as an asset. Once they foreclose, it becomes a liability. If the banks foreclosed on the homes that they should, hundreds would be bankrupt.
Only ONE million?? if thats so,, I feel much better.........
LOL! You’re welcome!
They aren’t foreclosing because Obastard and the Rats told them not to. Instead they just let people keep on living in the houses. The main problem is as you have seen, the people stop caring about the houses and let them get more and more run down.
Sorry, I don’t buy it.
The Bank makes more money foreclosing a home than they do if you were even paying the note. The get cash from the Mortgage Ins, They get cash from the Govt, They get cash reselling the property. Then after it is all said and done with they go after the owner who defaulted (if the person didn’t actually file for bankruptcy).
I the end Banks make tons of cash off foreclosures - most of which is tax-payer cash.
P.S. Keep looking. There are plenty of good people with houses well kept up for sale.
Most banks have sell their mortgages to Freddie/Fannie or to a holding company.
the longest statute of limitation is 15 years (kentucky) various states have three.
Most states have adverse possession after 6 years.
IOW eventually since the banks are doing nothing they will lose the right to enforce the contract.
Feh, my loser brother in law got $2500
Out here I know of a couple that have been foreclosed but nothing done for several months. Renters continued to pay rent to the foreclosed individuals and then were ousted in a three day blitz.
At last one renter was negotiating to buy from the former owner and, when advised the loan had gone bad, immediately offered to take over the loan; he was booted anyway.
The house remains vacant but the county has at least stopped sending clean up citations to the former renter.
Really? With 40-50% of these homes underwater? How do you figure if they carried a note on a 600K mortgage and the owners stopped paying for the past year (and switched their mortgage payments to retail shopping — living the high life for a while — which is also falsely inflating retail sales) that the banks will make a profit by foreclosing and then trying to sell that home for 250K or 300K?
Remember that most of the homes/mortgages/banks that are in this situation are in CA, NV, and FL, where there is a huge inventory of homes in the 50% overpriced and underwater category.
Also, keep in mind that the amount these homes are currently valued at are valued in terms of current inventory. If that million+ homes suddenly hit the market, what do you think would happen to the selling price?
That is why some are predicting another 20% drop in home values across-the-board once these bad notes are finally foreclosed upon.
If so, do you feel better that it is not the banks but the US taxpayers who are going to lose their shirts when these mortgages are finally marked?
Not at all. This is all on purpose so that Obastard and the Rats can give housing loans to people who cannot and will not pay them back.
Oh, I agree.
F/F own over 50% of the mortgages in this country. That means that 50% of the homes can simply be absorbed by the federal government if they deem it some sort of an emergency, like the US dollar is dumped as the world’s reserve currency, the global depression hits, and the solution is one world currency overseen by the BIS or some other consortium of the international, central banksters, and, in order to play their game, we need some sort of collateral in order to ante up and receive our international currency chips.
You can explain why you want a house that this lowlife is turning into a wreck. There are a lot of other houses that can be acquired through Freddie/Fannie financing and are owned by decent sellers who can give you the keys to a handsome, well-maintained house. Move into a wreck in which the owner has defaulted and you'll likely find out that he has been neglecting the maintenance along with the payments.
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