U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-02-2013, 09:48 AM
 
2,132 posts, read 2,188,763 times
Reputation: 1299

Advertisements

I have yet to hear of a bank going after an asset other than the house that the loan was given towards. I'd like banks to do it to offenders who destroy their house maliciously.
Reply With Quote Quick reply to this message

 
Old 05-02-2013, 09:53 AM
 
Location: Kissimmee
347 posts, read 387,263 times
Reputation: 505
Quote:
Originally Posted by ddrhazy View Post
I have yet to hear of a bank going after an asset other than the house that the loan was given towards. I'd like banks to do it to offenders who destroy their house maliciously.
Zombie foreclosures: Borrowers hit with debts that won't die

[url=http://money.cnn.com/2013/02/20/real_estate/zombie-foreclosures/index.html
There are many loan owners who think they are smart by gaming the system. They are going to be shocked in the future when they have assets.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 09:57 AM
 
Location: Tyler, TX
15,194 posts, read 17,689,444 times
Reputation: 7980
Am I the only one here who's wondering why we should give advice to someone who is intentionally breaching a contract?

You're the reason we're all stuck in this terrible economy. Thanks.


Sent from my SCH-R530C using Tapatalk 2
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 10:28 AM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 10,855,275 times
Reputation: 3866
Quote:
Originally Posted by swagger View Post
Am I the only one here who's wondering why we should give advice to someone who is intentionally breaching a contract?

You're the reason we're all stuck in this terrible economy. Thanks.


Sent from my SCH-R530C using Tapatalk 2
All of this will catch up with the OP eventually.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 01:05 PM
 
Location: Toledo, OH
1,725 posts, read 2,903,937 times
Reputation: 1270
I go back and forth on this and some how always come out in the middle not really knowing what to feel about a situation like this. I know me personally, I could not do it. I would find a way to pay or send them the keys.

I do wonder if Banks will 'chase this person down' or the next time they try to get a loan with a 700+ credit score if the interest rate will be 12% or something like that.

I do find it odd that this 'squatter' feels trapped in not being able to move when not paying any mortgage. Sure hope he is putting some money away.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 01:06 PM
 
Location: Sunrise
10,869 posts, read 13,638,218 times
Reputation: 8987
Quote:
Originally Posted by swagger View Post
Am I the only one here who's wondering why we should give advice to someone who is intentionally breaching a contract?

You're the reason we're all stuck in this terrible economy. Thanks.
He's ONE of the reasons. But yes, why bother give advice to a foreclosure squatter? [mod cut-- rude]

Last edited by observer53; 05-04-2013 at 12:35 AM..
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 02:08 PM
 
9,955 posts, read 8,441,593 times
Reputation: 5826
The bank hasn't even tried to kick him out yet. It takes two to tango. They were playing as fast and loose as he was, if not even more.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 02:24 PM
 
Location: Sunrise
10,869 posts, read 13,638,218 times
Reputation: 8987
Quote:
Originally Posted by BBMW View Post
The bank hasn't even tried to kick him out yet. It takes two to tango. They were playing as fast and loose as he was, if not even more.
I agree completely. There is plenty of blame to spread around -- banks, hedge funds, derivatives markets, national governments, investors, homeowners. You name it.

Remember the spate of messages a few years back from people who seemed to be proud of themselves for "beating the system?" I wonder what's happened to those people. Probably nothing. They did more than their fair share of wrecking the economy, though.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 03:29 PM
 
283 posts, read 411,226 times
Reputation: 217
Quote:
Originally Posted by Guapo Ares View Post
Hello everyone,
Here is my situation. I have stopped paying my mortgage back in May 2011. That is like 24 months ago and my home was scheduled 4 times so far for foreclosure sale, but every time it gets postponed. I don't know why my bank is not selling the home. I want to move back east before July but bank postponed another foreclosure sale until August now.
I also noticed on my credit report that my overal scores are coming back up even dough my house is not foreclosed yet. Bank stopped reporting on my credit last June and ever since then my credit scores are improving. It went down from 760 to 580 and now is back to 680 again. Incredible.
Anyone experienced the same thing with the banks that won't foreclose?
I'm starting to believe that they don't have the right paperwork and maybe they can't take the house back.
I had interest only loan from 2005 that was done at Starbucks with my realtor and no money down.
If you want out of it, why don't you try to short sale it and be done with it. There's plenty of investors out there willling to pick up property in days after it becomes available. What did you originally buy the home for? They'll buy it for more than half off.
Reply With Quote Quick reply to this message
 
Old 05-02-2013, 03:35 PM
 
9,955 posts, read 8,441,593 times
Reputation: 5826
If the OP is REALLY aggressive, they could challenge the Bank's lien, and force them to prove they have a note. They may not be able to do so.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Nevada > Las Vegas
Similar Threads
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top