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10/08/2008 03:07:32 PM · #51 |
Originally posted by darnold:
Ahhh... but  LoudDog... when you wrote that, McCain had not yet come up with his empty-promise-designed-to-attract-voters.. that will never happen anyway. |
I hope you are right, but Obama, Hillary, and now McCain (amongst others) all have pushed for it. And frankly, when/if it happens, I stop making my house payment so I can get some too! |
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10/08/2008 03:11:53 PM · #52 |
Originally posted by LoudDog:
Originally posted by darnold:
As far as  soup.... your beer truck driver probably WILL lose his house... what gives you the idea that ANY part of the bailout is designed to keep an American in their home? You might want to read up on that... |
Umm, the beer truck driver was my friend. You may want to read up on that... :)
And yes, nothing has been passed to bailout homeowners. YET! However, a lot of people are trying! If you watched the debate last night, you can add McCain to the list of people trying. |
Maybe there's hope -- the beer truck might be owned by Ciindy McCain ... |
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10/08/2008 03:33:32 PM · #53 |
I do home inspections and it is sad, most of the homes I inspected in the last 12 months were vacant prior to that it was the majority of the homes were still being lived in. There a home owners associations that go around and paint dead lawns green so the the neighborhood does not look so bad.
My feelings are people were allowed to make stupid decisions and the blame clearly goes both ways, if loans were not so easy to get then a lot of this could have been avoided but people have to take responsiblilty for their own actions also, just because you can get the loan does not always mean you should. I have a friend who saw big dallors coming his way, he was buying homes up fixing to make a big profit, he even asked another friend if he could use his credit to buy more homes (fortunatly the other friend was smart enough to say no), now this guys has filed for bankruptcy and gave seven homes back to the bank. I agree the bank was stupid for lending the money but it was his fault for trying to buy homes with not capitol to back up his investments. |
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10/08/2008 04:57:46 PM · #54 |
Originally posted by PapaBob:
I have a friend who saw big dallors coming his way, he was buying homes up fixing to make a big profit, he even asked another friend if he could use his credit to buy more homes (fortunatly the other friend was smart enough to say no), now this guys has filed for bankruptcy and gave seven homes back |
And see, now this guy was gambling. That's not the same thing as somebody trying to just buy their own home and quit paying rent. And, I have heard it said that many of the defaults are actually due to house "flippers" like this guy. Everybody wanted an easy slice of pie with all the house flipping shows so popular in the last few years. |
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10/08/2008 05:19:16 PM · #55 |
Originally posted by darnold:
Originally posted by PapaBob:
I have a friend who saw big dallors coming his way, he was buying homes up fixing to make a big profit, he even asked another friend if he could use his credit to buy more homes (fortunatly the other friend was smart enough to say no), now this guys has filed for bankruptcy and gave seven homes back |
And see, now this guy was gambling. That's not the same thing as somebody trying to just buy their own home and quit paying rent. And, I have heard it said that many of the defaults are actually due to house "flippers" like this guy. Everybody wanted an easy slice of pie with all the house flipping shows so popular in the last few years. |
Yes, hes lucky he is still in his house but both flippers and people buying with all those creative loans all played a part in this, when values went down people found themselves owing more than the house was worth so if for what ever reason a person was not able to make the payments there was no way to sell the house so they all started getting foreclosed. In the past I imagine most people that could not make the mortgage payments would just sell the house and get something more affordable but that only works when the house values are rising. |
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10/08/2008 05:29:57 PM · #56 |
Originally posted by darnold:
Originally posted by RKT:
Foreclosures in the Snellville area.
It appears the number is much higher than you surmised.
ETA: typo...oops! |
wow... 992 in Snellville alone... and that's only the ones currently listed.... yup, only one in the neighborhood. |
Holy cats, Snellville. I just finished a 16 home fraud investigation in Snellville, GA. A quick search in the company DB shows we're working 37 active files in Snellville, and have worked almost 300 foreclosure files in the past six months. Of those files- 70% had some instance of fraud (income, value, occupancy, down payment etc...). Wow, Hawk, you're living in a hotbed of mortgage fraud.
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10/08/2008 08:14:47 PM · #57 |
I couldn't help but think "Anyone living in Snellville must be really slow" LOL. No harm intended, it's just what went through my tiny mind at the time.
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10/08/2008 08:34:27 PM · #58 |
| There's 266 foreclosed homes in my zip code. There's 5,896 single-family non-rent homes and condos in my zip code. That's what, 5%? I don't have any baseline to compare it to, unfortunately, I never looked at the ratio of foreclosed properties to that available number of housing units. |
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10/08/2008 08:43:07 PM · #59 |
Originally posted by Jac:
Originally posted by darnold:
Originally posted by RKT:
Foreclosures in the Snellville area.
It appears the number is much higher than you surmised.
ETA: typo...oops! |
wow... 992 in Snellville alone... and that's only the ones currently listed.... yup, only one in the neighborhood. |
That's 991 more than Hawkeye said, it must be wrong or printed by some liberal freethinking democrat. |
wow: 9 vs. 1 would have been an error of 800%, but this is approaching 100,000% wrong--no wonder there has been no reply.... |
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