Az Foreclosures (Ajo: mortgage, loan, showing)

[mazy]

How Many Foreclosures In Arizona Do You Think Are Due To Serious Defects??? Because Their Is No Help Out There State Agencies Are Not Regulating These Builders! Not Holding Them Accountable! So How Many People Just Give Up And Decide They No Longer Want To Pay Big Mortgages On These Serious Defective Homes You Can Not Sell!!!! The Builder Builds A Piece Of Crap Does Not Disclose Major Defects And You As The Homeowner Find Out Your Home Is Seriously Defective And You Are Stuck Because You Have To Disclose!!!! So You Can Not Sell!!!! You Are Stuck Can Not Get Out!!!!!!!!!!!!!!!! So Really How Many Foreclosures Are Because Of This And Adding To The Down Market In Arizona And The Mortgage Crunch!!!!!!!!!! Everyone Is Affected By This!!!!!! Everyone!!!!!!!!!

[Nice Nice Baby!]

Half of the homes built between 2004 and 2005 at least! During this time anyone who bought was stupid and greedy! This in turn means we will see price reductions of over 50% due to the flooding of these homes in the market! The sky is falling! Move out of Arizona everybody! Go crazy! Go crazy!

[ArizonaBear]

Originally Posted by Nice Nice Baby!

Half of the homes built between 2004 and 2005 at least! During this time anyone who bought was stupid and greedy! This in turn means we will see price reductions of over 50% due to the flooding of these homes in the market! The sky is falling! Move out of Arizona everybody! Go crazy! Go crazy!

LMAO!

All the more reason for me to stay!

[MotleyCrew]

Shall we wave at them leaving the state line? Or do we greet the ones still coming here? I am soooo confused.

If anyone needs to pick up their spirits just a little, go to the Florida forum. Ouch!

[Bummer]

Interesting "gaggle" of questions, Mazy!

However, The Builders are NOT solely to blame . . . many of the IDIOTS entering into these deals HELTER SKELTER looking for a fast buck must assume some of the responsibility. These "deals" broke many, if not all, of the DEFINITE NO NO's of making a major purchase (home, vehicle, etc)! If they win, they jump up and down with glee as they run to the bank but if they lose, they look to blame others or expect the Government to come to their rescue!

Bottom line: what ever happened to a little OWN THE PROBLEM and/or PERSONAL RESPONSIBILITY?

[Ozark Nana]

Originally Posted by mazy

How Many Foreclosures In Arizona Do You Think Are Due To Serious Defects??? Because Their Is No Help Out There State Agencies Are Not Regulating These Builders! Not Holding Them Accountable! So How Many People Just Give Up And Decide They No Longer Want To Pay Big Mortgages On These Serious Defective Homes You Can Not Sell!!!! The Builder Builds A Piece Of Crap Does Not Disclose Major Defects And You As The Homeowner Find Out Your Home Is Seriously Defective And You Are Stuck Because You Have To Disclose!!!! So You Can Not Sell!!!! You Are Stuck Can Not Get Out!!!!!!!!!!!!!!!! So Really How Many Foreclosures Are Because Of This And Adding To The Down Market In Arizona And The Mortgage Crunch!!!!!!!!!! Everyone Is Affected By This!!!!!! Everyone!!!!!!!!!

Someone had to of bought the home in the first place....if so, it was THEIR responsibility to have a home inspection before they "signed on the dotted line"....so if they go into foreclosure because the house they are selling was NOT inspected and has "serious defects" they have no one to blame but themselves! Purchasing a home is a MAJOR life decision, one that should not be entered into lightly. I have no pity for those in this circumstance at this time. Might be a harsh statement, but it's a harsh reality for those that did not do their homework. By not "studying for the test" they have failed!!

I'm not affected by it one bit....my home, currently on the market, is showing well, is in great shape and was inspected before I put it on the market. Why should we get yet another State/government agency involved to mop up the problem that the buyer themselves caused....sorry, no sympathy here.

O.Nana

[ILoveAZ]

LOL, I think very few foreclosures are due to what you are describing. Most foreclosures are due to people buying homes they couldn't have afforded without the interest only loan, people who maxed out the equity on their homes (again to a level they couldn't normally afford) and now can't sell for that price, That and the investors who bought thinking the market was going to increase at those unreal levels forever.

I agree that the typical tract (is that the right word?) builder will throw together a house but it's up to the buyer to have the home inspected. We built about 5 years ago and came to the site almost every single day to see what was going on. I spoke almost every single time I was out to the foreman (is that what the head guy is called?) so they knew we were paying attention. Then we made sure to pay our own inspector after the home was completed. We have had very few issues and all were minor. Any issues we've had have all been taken care of under warranty.

[mazy]

The Home Was Inspected!!!!!!!!!!!!!!!! The Problems Were Not Caught Because Of People Not Doing Their Job!!!!!!!!!!!!!!!!!!!!!!!! How Could A Home With A Post Tension Slab With Cables Put In The Wrong Place And No Certification And The Builder Illegal Behavior Fraud And Misrepresentation Be My Fault!!!!!!!!!!!!!!!!!! Maybe It Will Happen To You Someday And You Might Feel A Little Different!!!!!!!!!!

[Ozark Nana]

Originally Posted by mazy

The Home Was Inspected!!!!!!!!!!!!!!!! The Problems Were Not Caught Because Of People Not Doing Their Job!!!!!!!!!!!!!!!!!!!!!!!! How Could A Home With A Post Tension Slab With Cables Put In The Wrong Place And No Certification And The Builder Illegal Behavior Fraud And Misrepresentation Be My Fault!!!!!!!!!!!!!!!!!! Maybe It Will Happen To You Someday And You Might Feel A Little Different!!!!!!!!!!

Then your only recourse is to go back against the Inspector...and the Builder. Unfortunately, the burden of proof is going to be on you. I am sorry your having this issue with your home, but I do not believe this type of behavior or problem is the norm. I wish you all the best of luck getting this taken care of in your favor.

Ozark Nana

[MotleyCrew]

My two cents. If I had a home with serious defects I would have continued to make the payments on time. You have other recourses and it is not an excuse to stiff the bank. You are not renting, so withholding payment is your demise.