[phonelady61]

well see if you could do a short sale ? has no one ever heard of that ? I had to do that when I lived in florida when i lost my job and could not find another one and sure as hell could not make the payment on umemployment check , so I went the short sale way and Im glad I did and the bank agreed to it the first lady who looked at it bought it . I sure miss my house but my relatives are helping me and my aunt and uncle have agreed to let me buy a rent to own from them in south carolina and in 6 months I will be there and working on that I cannot wait I am so tired of apt living LOL ...take care OP and hope it all works out for you dear . God bless you .

[kiggy]

Originally Posted by phonelady61

well see if you could do a short sale ? has no one ever heard of that ? I had to do that when I lived in florida when i lost my job and could not find another one and sure as hell could not make the payment on umemployment check , so I went the short sale way and Im glad I did and the bank agreed to it the first lady who looked at it bought it . I sure miss my house but my relatives are helping me and my aunt and uncle have agreed to let me buy a rent to own from them in south carolina and in 6 months I will be there and working on that I cannot wait I am so tired of apt living LOL ...take care OP and hope it all works out for you dear . God bless you .

'

If you read the posts, the OP has plenty of money. He just doesn't want to keep paying his mortgage because his house is upside down. Not your situation at all.

I would guess that most people on this thread would fell bad for someone in your situation, as I do. Who knows why this guy doesn't short sell his house. That would make too much sense, I guess.

[CravingMountains]

Originally Posted by kiggy

It has nothing whatsoever to do with the banks. It's about being a human being with character. The banks have nothing to do with this situation -- the OP the one committing this fraud.

It isn't fraud. It is a perfectly legal way to manage someone's finances. The repercussion of which is a hit on your credit score. As long as you can live with that then make the best choices for your own life! Banks, neighbors, or unsympathetic people can be left in the dust.

[Mike1306]

Originally Posted by CravingMountains

Don't listen these self-righteous people OP. We the people were the biggest victims of the hazardous lending practices from banks prior to the recession. The banks and lenders needed to be taught a lesson as well. Save your money for the time being and take care of the house. Then, we ready, leave the place behind and start over. I can't believe some posters on here think people should be buried in hundreds of thousands of dollars of debt for their life. What if the buyer of that house didn't plan on staying there forever?! With the housing crash millions of people got stuck in places that they didn't want to be. They shouldn't be forced to stay there miserable and financially broken!

Who put a gun to his head and forced him to buy?

Even if he did not plan on staying forever he could have asked the bank to do a deed in lieu or a shortsale, instead he just decided to stop paying but still live there.

People can try to justify their actions and others will obviously back them up but that just talks to the character of both.

[CravingMountains]

Originally Posted by kiggy

Say you borrowed the money from your Father-in-law. Through no fault of his own, the market went south, and your house went upside down. Wouldn't you feel at least a LITTLE bad that you're defaulting on your loan? Or would you cop the same attitude?

Get it?

That's called character, or the lack thereof. Do the right thing unless it cramps your lifestyle.

Not the same thing. I have ZERO emotional attachment to a bank. No, I would not be sad if they don't get paid. Banks have safety nets in place to protect them from the liability of a foreclosed home. Banks are also guilty of aggressive lending practices that puts homes in the hands of people who can't afford them.

And I would never borrow that type of money from a relative. No sane person would.

[CravingMountains]

Originally Posted by Mike1306

Who put a gun to his head and forced him to buy?

Even if he did not plan on staying forever he could have asked the bank to do a deed in lieu or a shortsale, instead he just decided to stop paying but still live there.

People can try to justify their actions and others will obviously back them up but that just talks to the character of both.

Short sales affect your credit score the EXACT same way in the state of Florida as a strategic default. Why in the world would someone go that route? They would be broke, credit would be ruined, no place to live, and the bank can then turn around and SUE them for the balance between the foreclosed price and the price at the homes purchase.

There is absolutely no reason why anyone should do a short sale if you ask me.

[Mike1306]

Originally Posted by hiknapster

I think that Mike1306's disdain is pretty darn rich considering he was a real estate agent back when all you needed to sell a house was someone that was breathing. Whether they could afford it, I'm sure it didn't matter to him. That's all well and good but now this judgmental tone is downright hilarious, coming from the guy that used to work at the carnival. And no, I'm not using an analogy or metaphor. He used to be a carnie. Then he sold houses.

I held a legal job, sold houses to willing buyers. I never forced anyone to buy a house, I never told someone how much they could spend but I guess me holding a legal job and looking down on people who walk away from legal obligations is so much worse than someone who agreed to something and is now just walking away from that responsibility.

And what is wrong with working at a carnival? By the way another legal job.

I also owned my own business, was a wholesale broker for multiple products, worked putting computer floors in the World Trade Center. What the f**k does any of that have to do with someone doing a strategic default on their mortgage?

[Mike1306]

Originally Posted by CravingMountains

It isn't fraud. It is a perfectly legal way to manage someone's finances. The repercussion of which is a hit on your credit score. As long as you can live with that then make the best choices for your own life! Banks, neighbors, or unsympathetic people can be left in the dust.

It may not be fraud but the banks are starting to come after many of the strategic defaults. Most areas they have 5 years to come after them so I hope they give them a couple of years after the foreclosure when they started buying some things again and then come after them.

[Mike1306]

Originally Posted by CravingMountains

Short sales affect your credit score the EXACT same way in the state of Florida as a strategic default. Why in the world would someone go that route? They would be broke, credit would be ruined, no place to live, and the bank can then turn around and SUE them for the balance between the foreclosed price and the price at the homes purchase.

There is absolutely no reason why anyone should do a short sale if you ask me.

Actually if you negotiate a short sale or deed in lieu you can negotiate that they do not pursue a deficiency judgement, if you go the strategic default route they can come after you.

That is why someone would do a short sale.

[MaryleeII]

It might seem like the OP is getting away with it, but these things have a way of coming back to haunt you.