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To the OP--the IRS wasn't coming after his house, the bank was.
His story doesn't make any sense. If he owed $160,000 on it and had an offer to sell it for $170,000, the bank wouldn't have any say-so in whether he sold it or not. Also, if it was "valued" at $350,000, why would he have even contemplated taking $170,000? And what about the judgment his brother had? What did that have to do with anything?
Now he's homeless and owes $160,000. Yep. He sure showed "them."
I thought the bank has every reason to not accept any offer, for what ever reason they seem deemed. Banks usually have the finally say so.
The bank has every reason not to accept an offer below the current amount owed (short sale is what they call it) but if the offer is above the mortgage balance, the bank has to take it because its the balance. Since the man owed $160K on the home, and the sales offer is $170K.. the bank couldnt stop the sale if they wanted to.. Someone is lying here about something..
Anyone who thinks the banks are going along with Obamas' empathetic home owner savior plan and willing to take it in the shorts for the Gipper is high as a kite!
From the first day Barrack Obozo announced his housing program, I maintained the banks will use this to bring deliquent home owners to their knees and subject them to a lifetime of servitude.
I'm a six figure professional and one of my employees got in over his head with a half million dollar home purchase. When he couldn't make his payments for six months, he begged on his knees for the bank to bail him out.
The banks reply:"No How Brown Cow!" So he says:"Foreclose on my house".
But the Bank says: "Now, now, We'll make you a special deal that will let you stay in your home."
Oh the joy, oh the relief!!! The new mortgage contract?.... it's really nice and allows him to make $1,800/mo. payments.....interest only.....for life!!!!
Thanks Mr. Prez...you da' man!!!
Another one of my employees wasn't so fortunate. He didn't get a special deal. He got a knock on the door at midnight by Sheriffs' Deputies who kicked him to curb with nothing but the shirt on his back.
Last edited by amerifree; 02-19-2010 at 03:52 PM..
With record foreclosures hitting us on Obama's watch and the prediction that May and June will have an onslaught of record foreclosures beyond belief, this will be happening more and more.
Obama promised to help those people in need, he promised to help people save their homes and his fake project never help only but a few.
Instead of working on the failed HC scam, he should have been working on jobs right out of the gate so these people would not have lost their homes in record numbers.
With the doom and gloom prediction of crazy amounts of foreclosures going to hit us in May and June, what will Obama do?
He also promised to find ways to keep home values up. Another epic failure or lie.
He also promised to create a way to re value the homes so people can stay in them and pay less to the banks. Another failure.
Only if he had worked on jobs instead of the failed HC scam, he could have come out of this a winner, instead he has been the total failure some of us knew he would be and has let the American people down once again.
Now he works on jobs, one year to late bubba. You are too late for the show.
Record foreclosure and bankruptcies on your watch is not a good thing, add in record car repo's, lost jobs and debt, Obama is looking more like he wants Americans to lose everything and be forced to live off the government.
I do not agree the man should have bull dozed his home but with Obama promising to help people with their mortgages and failing, we will be seeing a lot more of this.
People are sick of the lies and broken promises of Obama.
I would like to see some entire subdivisions bulldozed... we need more angry people...with clever, non violent ways of getting even with the nasty corporations..bloodless poetic justice...
I would like to see some entire subdivisions bulldozed... we need more angry people...with clever, non violent ways of getting even with the nasty corporations..bloodless poetic justice...
Anyone who thinks the banks are going along with Obamas' empathetic home owner savior plan and willing to take it in the shorts for the Gipper is high as a kite!
From the first day Barrack Obozo announced his housing program, I maintained the banks will use this to bring deliquent home owners to their knees and subject them to a lifetime of servitude.
I'm a six figure professional and one of my employees got in over his head with a half million dollar home purchase. When he couldn't make his payments for six months, he begged on his knees for the bank to bail him out.
The banks reply:"No How Brown Cow!" So he says:"Foreclose on my house".
But the Bank says: "Now, now, We'll make you a special deal that will let you stay in your home."
Oh the joy, oh the relief!!! The new mortgage contract?.... it's really nice and allows him to make $1,800/mo. payments.....interest only.....for life!!!!
Thanks Mr. Prez...you da' man!!!
Another one of my employees wasn't so fortunate. He didn't get a special deal. He got a knock on the door at midnight by Sheriffs' Deputies who kicked him to curb with nothing but the shirt on his back.
Did this not apply to your first employee's situation?:
"Under the Obama mortgage plan guidelines, your lender may lower your mortgage payments to no more than 31% of a borrowers pre tax monthly income:
* First, reduce the interest rate to as low as 2%,
* Next, if necessary, extend the loan term to 40 years,
* Finally, if necessary, forbear (defer) a portion of the principal until the loan is paid off and waive interest on the deferred amount.
Your second employee... you left out the part about "...and Obama was sitting in the squad car...laughing!"
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