Quote:
Originally Posted by SWTXBelle
They aren't thieves because they are not stealing anyTHING. Bank owns the house - it was a secured loan. The bank can't sell it until they go through the process, so actually having people in the house, keeping it in decent shape, is something for which they would have to PAY house sitters. We've got abandoned foreclosures in our neighborhood - overgrown lawns, vandalism and lack of water are not helping them maintain their already reduced value, and it has a negative effect on OUR home values.
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This.
Just prior to moving into my house, the nice woods at the end of the street (and my house WAS the last one), a contractor bought the woods and built a plan of McMansions. At least a quarter of them are for sale, and a few have been abandoned. We're fortunate that a few of the local men have been cutting the grass so they don't look too bad, but anytime somebody defaults on any loan, it makes it that much harder for the next people who come along. You don't think that the bank is going to really lose money, do you? They either jack up the interest rate, or have Uncle Sam bail them out.
As for the Outback Steakhouse, everytime I've eaten there, I swear I've been served wombat steak. It doesn't taste bad, but oh, how I've paid for it later!
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