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Outback, Schmoutback. It's about being able to get into a $400,000 home when you make $25K a year and got the place with a liar's loan or no-doc loan back in 2005-2006 and then you lost your job AT the Outback as a hostess when all the other folks who made $25K a year and went to Outback once a month lost their job at the call center and couldn't go out to eat, and the Outback shut down.
Oops. Your ASS should not have been in that house to begin with, but Barney and Chris and Barney's friggin' boyfriend at Freddie/Fannie forced America to accept their theory that all Americans should have a house. Got news, Barn. Not everyone can own a house cause they can't pay for it. They can barely pay for the '98 Trans Am they got at Drive Time.
But here they are in Happy Acres gated community, enjoying the pool and the tennis courts and oh, by the way, they don't REALLY expect you to pay HOA dues or whatever they're called, do they?
Uh, yeah, they do. Your neighbor, that sucker, pays his. And now you want him to pay more since you think you are somehow so special you don't have to pay for yours? Right. The bills for cleaning that pool and servicing that gate keep on coming whether you can pay or not.
My company manages HOA's. I've been in this field for 12 years. You would not believe what we see every day. Among others, I blame site agents who sat in the model homes and over sold these folks with 1.9 teaser rates and the idea that they could re-fi in one year to a 3.9 on a house that's appreciating overnight. What a load of garbage.
Then there's the mortgage brokers and title companies who made a killing on these "Property Virgins" who got into these houses with zero down. It's called having no skin in the game.
And yes, Florida takes an average of a year and a half. That's on average. I have some sitting in houses for three and four. When the banks get close, they file bankruptcy. The process comes to the proverbial screeching halt. They never show up for the initial hearing in 30-45 days, the judge is required to give them another chance to show up in another 30-45 days (that's as much as three months for you laymen) and so it's dismissed.
Think it's over? Nah. Since only the husband filed, who's up next to file the Bankruptcy? Why you guessed it - the wife. So now we're up to another six months of living free and easy. You look in their files and they've been gaming the system for years.
The real suckers are those of us who just sent in our mortgage payment.
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