Foreclosures and Irresponsible Home THIEVES

Drolefille · #1 06-03-2010, 12:43 AM

Quote:

Originally Posted by preciousjeni

Have you been talking about foreclosures in general or people who stay in their homes without paying on them?

Just now, foreclosures in general, throughout the thread, people who cease paying their mortgages and wait until they're evicted to leave, no matter where they eat.

I do not get the outright personal affront that has been exhibited throughout this thread. It's very much a "how dare they when I'm working my ass off" conversation and I just do not think that makes any sense.

preciousjeni · #2 06-03-2010, 01:01 AM

Quote:

Originally Posted by DrPhil

How common is it for people to stay in their homes without paying on them? It's a relative rarity.

That's clearly a problem and takes some HUGE cajones to even attempt. Wouldn't the police remove the people?

"Call the po-po, ho" ~ Madea

I'm all turned around now because I thought that's what the article was referring to.

Quote:

Originally Posted by Drolefille

It's very much a "how dare they when I'm working my ass off" conversation and I just do not think that makes any sense.

I know people don't live their lives the way I do. My problem is that these people are effectively squatting which affects the bank which in turn affects rates/eligibility for everyone else.

Anyway, with foreclosures continuing to be a veritable epidemic, why are banks being stupid? Wouldn't it be better to rent the home back to the former owners for a then-fair market rate with the understanding that the house could be sold out from under them at any point?

Drolefille · #3 06-03-2010, 01:05 AM

Quote:

Originally Posted by preciousjeni

I'm all turned around now because I thought that's what the article was referring to.

I know people don't live their lives the way I do. My problem is that these people are effectively squatting which affects the bank which in turn affects rates/eligibility for everyone else.

Anyway, with foreclosures continuing to be a veritable epidemic, why are banks being stupid? Wouldn't it be better to rent the home back to the former owners for a then-fair market rate with the understanding that the house could be sold out from under them at any point?

That's logical, the outright RAGE at the beginning of this thread was not.

If they cannot pay, they cannot pay, and squatting or not they're going to affect the banks their rates the same way. With the fed keeping Prime low, it's going to make rates pretty good for the near future. As far as eligibility it was the bust that affected that and probably for the better since prior to that it was being handled haphazardly.

Banks don't have the resources to be landlords, they avoid it like the plague.

preciousjeni · #4 06-03-2010, 01:11 AM

Quote:

Originally Posted by Drolefille

That's logical, the outright RAGE at the beginning of this thread was not.

I don't cosign on anyone else's rage and I myself am not outraged.

AGDee · #5 06-03-2010, 05:48 AM

Quote:

Originally Posted by DrPhil

How common is it for people to stay in their homes without paying on them? It's a relative rarity.

That's clearly a problem and takes some HUGE cajones to even attempt. Wouldn't the police remove the people?

"Call the po-po, ho" ~ Madea

Yes, the police do remove people. I know of a case where a family was renting a house and, unbeknownst to them, their landlord was not paying the mortgage, even though they were paying their rent. The police department showed up at midnight on the day that the bank was taking possession and told the people they had to leave immediately, with whatever possessions they could get out right away. The family living there had kids, etc. It was a horrible mess.