The Conservative Cave
Current Events => General Discussion => Topic started by: Ralph Wiggum on February 11, 2010, 09:23:50 AM
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Just to piggyback off of this discussion: LINK to DUmpster thread (http://www.conservativecave.com/index.php/topic,40498.0.html)
How many of you know of someone who has had their home foreclosed on?
I know no one, not a soul, who has "lost" their home. Look, I know it happens & all, and I'm not passing judgment. I'm just kind of curious about everyone else here.
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One, it was still during the boom times, and it was entirely his own damn' fault. He wasn't paying the bank at all and they held off the foreclosure for a very long time, years I believe, because his elderly disabled mother lived there. Once she passed they proceeded with the foreclosure. Things are different out here in the Ozarks than down where them flatlanders live.
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I know of no one, and I know many irresponsible people. The sort one would think would get their house foreclosed on. I really thought that I would. Odd.
I do know a dude that walked on his house though. Just up and left. It wasn't getting foreclosed on though.
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My wife's cousin is. Due to probably buying more house than they needed. Plus the fact his wife lost her job contributed greatly to it. They aren't lazy people, just a bit inexperienced and unlucky.
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One guy I work with had his house foreclosed, but that was because of a divorce and bankruptcy . There is one house for sale a couple of blocks from me, but it's "for sale by owner", so I doubt they were foreclosed on.
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The unit down stairs, the two bedroom next door and a three bedroom across the street, were all foreclosed on the first week of the new year. The three bedroom and the one next door where both rentals.
Good news, is, the one down stairs is in escrow. And the price was not discounted too heavy.
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Not a one.
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I know one. My cousin's friend.
He and his wife got a ridiculous loan that was well beyond what their income could support and bought a very nice house. They each had a very nice car, and they spent money off their credit cards like it was water. Eventually, the larger payments on their mortgage were due, and they just plain didn't have the money, so they maxed out their cards, then walked away from all their debt by declaring bankruptcy and moved in with his wife's mom :censored:
I also know somebody who took a 2nd mortgage on their house to spend on trips, etc., and now their house is underwater so they've decided to walk away. :banghead:
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You know, I don't. People here in the Appalachians walk to a different drummer though.
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Since I'm the one knocking on the door.....yes.
Not everyone who is foreclosed on is an irresponsible deadbeat.
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Not everyone who is foreclosed on is an irresponsible deadbeat.
I absolutely agree, bad things happen to good people all the time. It's just that the only one of my neighbors who was in that boat happens to be one of the deadbeats.
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Since I'm the one knocking on the door.....yes.
Not everyone who is foreclosed on is an irresponsible deadbeat.
You don't count, Deb! :-)
I completely agree with your sentiment and DAT's: bad things do happen to good people.
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I don't know anybody who's been foreclosed on.
I do know that my girlfriends house was a foreclosure though, and the people who got the boot trashed it out pretty bad. She just finished fixing and remodeling everything this last summer after about 2 1/2 years.
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One, possibly two.
The definite one is my sister in law. Her husband's an accountant, and has been out of work since April (in Georgia). House foreclosed at the beginning of the year, and they and their three offspring are living with her parents. He's got a temp job now down in Tucson with Asarco, and looking for something more permanent, just about anywhere.
The possible second one is my own sister, up in Washington. She did have her house forclosed upon, but it had nothing to do with the "horrible Ø-conomy", and more to do with the fact that she's a stupid, lazy moonbat who, upon discovering that her husband was taking what little he was bringing in at the parts counter of a car dealership and blowing it all at the nearest casino(s), did not punt his sorry ass to the curb and go develop a source of income of her own, but instead sat there on her sofa, trashing the place until the bank finally sent the sheriff out to evict her. :puke:
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I don't know a soul that has been foreclosed on. In fact, the housing market is pretty good in Baton Rouge and building permits are up.
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I don't know a soul that has been foreclosed on. In fact, the housing market is pretty good in Baton Rouge and building permits are up.
Be thankful.
There are pockets all over the country that are doing well.....just as there are places that have seen a 50-60% drop in property values.
Everywhere else is somewhere in between.
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I know of one. Guy was a mortgage broker around 60 years old. He lived well within his means, but when things hit a couple of years ago he had to stop working freelance straight commission and got a job at a bank. The income was less than half of what he had been making, the banks had layoffs, he burned through his savings, and lost his house. He had family back in Vero Beach so he and his wife went back there. Last I heard he had picked up the pieces and was doing fine again. Guy definately wasn't a quitter, it was just the wrong thing at the wrong time.
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You know, I don't. People here in the Appalachians walk to a different drummer though.
Isn't that due to the second head and the third arm growing out of the middle of their chest? :-)
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I know of 3 family's.
One a woman in mid twenty's, married with no kids and it makes me grind my teeth just to think of how she got away with it.
She and Hubby bought at the top of the boom, a 2 bedroom home, one bath, no garage home+ 7 acres for $260,000. This girl made about $35,000 a year and hubby the same. She had inherited $30,000 and used it for down payment.
She and Hubby also bought a camper for $18,000 and a new truck to pull it.
Soon after they spent that money her car died and she bought a new one.
They began shuffling money about paying one bill off with a credit card then having to pay the credit card off with another. This was not going to work, so they went to her mother and borrowed $10,000 to pay off just one credit card.
Her mother came to the rescue seeing where this was leading and had a relative who worked just with bankruptcies begin to tell them the ropes.
First they transferred the camper and truck to her parents to pay back the loan , the parents would continue to pay for both and insure she got to use them whenever she wanted. All her Jewelry was sold to family members but she kept and wore it herself.
After 6 months the only thing they owned in their name were their cars and the house itself.
Now the bills were down to just the mortgage on the home and utilities and taxes, the car payments, insurance on home and autos. Hubby lost his job and took a huge drop in pay.
Needless to say, no more dinning out, clubbing, buying expensive clothing, no fun in their lives.
That nasty word Divorce came up and they both turned to the family lawyer.
Somehow they managed to get a divorce and claim bankrupts and parted ways. They lost the house, but they kept their autos, she still has her truck and camper, jewelry and fur coats.
Another family borrowed money from a relative to buy a double wide home in a park. They did not know or failed to read the contracts that stated that a double wide had to have up to date home owners insurance or the bank could call in the loan. They lost everything by not paying $200.00 a year.
Idiots, that's about $16.00 bucks a week and they spent 4 times that much on beer and cigarettes.
Things do happen to good people,they never forsee the future or plan for the impossible.
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I know 3 and all of them through real estate. I sold 2 of them their homes and felt like they were buying above what they could afford but couldn't stop them. The lenders agreed to lend them the money and they bought the house.
2 of those foreclosed were younger couples who I think just didn't really understand what they were getting into. I think they could have toughed it out until they could have sold but in both those cases one of the spouses quit a job and never found one that paid as well ...
The other foreclosure was a couple who were probably in their mid 50's and definitely should have known better. I even told them there could be a problem when they were having an issue writing a $5,000.00 earnest money check for a $250,000.00 home. If you are buying a quarter million dollar home (in this area that is quite a bit) you don't have a problem writing a $5,000.00 earnest money check.
On the last foreclosure ... I hate to say it but I was glad to see it happen. They were the nastiest people I have ever worked with. Straight up weird people. They would go to the house they were trying to buy at like 10:00 pm while the owners where trying to get ready for bed and ask them if they could walk through the house and burn some incense to get rid of the 'bad spirits' ... then they would go out back, sit in the glider and drink a glass of wine before they left. WEIRD people.
KC
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On the last foreclosure ... I hate to say it but I was glad to see it happen. They were the nastiest people I have ever worked with. Straight up weird people. They would go to the house they were trying to buy at like 10:00 pm while the owners where trying to get ready for bed and ask them if they could walk through the house and burn some incense to get rid of the 'bad spirits' ... then they would go out back, sit in the glider and drink a glass of wine before they left. WEIRD people.
KC
moonbats :lmao:
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moonbats :lmao:
That is an honest to God true story. I didn't have my broker's license at the time so I ended up turning the deal over to my broker to finish closing it. He told me he had enough gray on his head to remain calm and get it closed. He DID end up getting the deal to close but it was a total nightmare. They had him to the point of walking away too! LOL
These people would call me on a Sunday and want to see the home "RIGHT NOW" and .... I would get over there as quick as I could after I called the owners to make sure it was ok. They never wanted to see it on any other day.
After they bought the house they put up an 8' high privacy fence around all 3 lots that went with the home. It looked like a compound. While they were going through foreclosure they took down the entire fence and carted it off. I didn't give a damn, I just wanted them out of the neighborhood.
Only client in my life that I threatened to beat the hell out of (the husband). It was after that that I gave the deal over to my broker! LOL
KC