Foreclosed? Get Paid Not to Ruin Your House! (Trees And Things)

sad in DC: Re: Foreclosed? Get Paid Not to Ruin Your House!

Fri, 25 Apr 2008 09:49:42 EST

Due to circumstances beyond my control, I lost my home to foreclosure. I tried several times unsuccessfully to work with my lender and I was denied.

Yes, I was angry and I was hurt but I left that house in wonderful shape. I can not even con

postillion: Re: Anyone want to buy a house?

Sat, 5 Apr 2008 01:27:49 EST

it's a sure thing that prices will rebound somewhat from current levels.

I've been seeing speculations saying perhaps another 2 years of a high rate of foreclosures before the housing market starts to recover.

In any case, what do people t

thefadd: Re: Anyone want to buy a house?

Fri, 4 Apr 2008 21:02:40 EST
With housing prices dropping below what is needed to build new housing in most areas, it's a sure thing that prices will rebound somewhat from current levels.
But with so many empty houses currently, there's no need to build new homes--which i

Shy Elf: Anyone want to buy a house?

Fri, 4 Apr 2008 18:46:52 EST
Your information is seriously garbled, as is the news story you took it from. Here's a better explanation.
Either you have title to the property or you do

thefadd: Re:assuming the banks own the house

Fri, 4 Apr 2008 17:19:50 EST
I've heard reports of neighborhood associations banding together to purchase empty houses/bail out their neighbors simply so that their home values won't depreciate so far.

postillion: Re: One assumes that the vandalism won't be forgot

Fri, 4 Apr 2008 15:23:48 EST
In regards to bailing out Bear Stearns (although maybe it shouldn't be called a bail out for Bear Stearns since it can be made said the people at Bear Stearns lost), it was done to prevent a run on other banks and investment houses in the U.S. A run

pO157: Re: One assumes that the vandalism won't be forgot

Fri, 4 Apr 2008 14:57:57 EST
Why do we need to bail anybody out?

logan: ...assuming the banks "own" the house

Fri, 4 Apr 2008 00:32:39 EST
The latest trend among banks is to keep foreclosed properties in a limbo state. Here's how it works: the bank forecloses on the property but doesn't actually ta

joshv: Re: The Renters, on the other hand...

Thu, 3 Apr 2008 08:21:50 EST
Perhaps now renters should ask their landlords - "you going to be able to pay the bills right?"
Oh yeah definitely. If I were renting a home or condo these days, I'd ask the owner when they purchased the property. If in the last 5-7

postillion: Re: One assumes that the vandalism won't be forgot

Thu, 3 Apr 2008 00:10:11 EST
Paul Krugman has a very interesting piece where he argues that Paulson's plan is being pushed by the Bush administration to stall the

JimmyHavok: Re: The Renters, on the other hand...

Wed, 2 Apr 2008 19:20:05 EST
Not to mention, rents will gradually rise over the life of the property, whereas the mortgage will not. For example, my parents took out an incredibly high mortgage on our home, one that they could barely handle, back in the '60s. By the time t

MayorBob: Re: The Renters, on the other hand...

Wed, 2 Apr 2008 17:29:35 EST
Could possibily be a way of reducing their overall tax burden.

port1080: Re: The Renters, on the other hand...

Wed, 2 Apr 2008 16:18:05 EST
Well, there's some logic to it (as long as it's reasonable mortgage, anyway). Let's say your mortgage amount is $3000 a month and you rent the house out for $1500 a month. If you were buying the property to either use as an investment or as a v

huxrules: Re: The Renters, on the other hand...

Wed, 2 Apr 2008 16:01:03 EST
I always found it stupid that investors would come to a town -buy a property and then lease it for less than their mortgage payments. It happens all the time. Perhaps now renters should ask their landlords - "you going to be able to pay the bills rig

Shy Elf: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 15:06:15 EST
Apparently they can generally only get the house if it's a non-judicial foreclosure. Laws vary by state as to whether that is generally the case o

Lou: Similar

Tue, 1 Apr 2008 14:40:24 EST
Does a home foreclosure work like a car repo?
It is similar...except you need a really powerful tow truck.

Lou: Leasing

Tue, 1 Apr 2008 14:35:44 EST
My understanding (at least in my state) is that if you have a lease, it must be honored by who ever owns the building. Also in my state, money that is paid for deposits and such go into an escrow account that the landowner can't dip into for day-to-d

joshv: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 13:42:53 EST
It varies based on jurisdiction: http://en.wikipedia.org/wiki/Mortgage_loan#Foreclosure_and_non-recourse_lending . Until recently, even

ivyafire: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 12:42:13 EST
Does a home foreclosure work like a car repo?
If they repo your car and sell it for less than you owe, they are still going to come after you for the difference.
Wouldn't it work the same way with a foreclosed house? If so, trashing it would co

logan: The Renters, on the other hand...

Tue, 1 Apr 2008 12:41:27 EST
I can totally see a renter's point. They paid their rent on time, fulfilled their end of the bargain, and out of the blue they get evicted because the landlord got in over their head. The tenant would have paid a security/cleaning deposit which they have n

skeeter1: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 11:37:40 EST
"They got into a mess they can't get out of, and instead of manning up and dealing with it, they're acting like purile infants."
I witnessed that happen right across the street from me. The guy who lived there was laid off from the Ford pla

MayorBob: One assumes that the vandalism won't be forgotten.

Tue, 1 Apr 2008 08:11:06 EST
The story, however seems to be that the bank is taking the prudential step of spending up to $1,000 to get the people who are in trouble to move out early. Their debt isn't being forgiven and they face a stark future with no place of permanent reside

joshv: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 07:43:58 EST
I think the problem is that the banks are so swamped with foreclosures they don't have time to press charges.
I am not sure why people are trashing their houses at the expense of the banks. They should be thanking these idiotic banks.

port1080: Re: Foreclosed? Get Paid Not to Ruin Your House!

Tue, 1 Apr 2008 06:51:28 EST
Banks should absolutely be pressing charges - these people are being dicks, pure and simple. They got into a mess they can't get out of, and instead of manning up and dealing with it, they're acting like purile infants. This is the kind of thing I'd expe