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I think most of the posters do feel badly for those who lose their homes, especially the ones who have had job losses and illness. I still feel strongly that there should be no gov bailout. You can't sustain a country with a government that will bail out every misfortune. There will always be foreclosed homes in any ecconomy due to one crisis or another. I really do not think the investors in my development that just walked from 5 homes need any special consideration. I will be hard to separate the two.
Do you realize that many of these people walking away just may be doing so due to job loss or a devastating illness? Have you heard the saying that we are all one paycheck away from being homeless? Yes some have been not been responsible, however I would just bet many have fallen on their luck. What you "want" for these folks - remember the saying "what goes around comes around."
Do you realize....
that I addressed those questions in this same thread, post #20 following your quoted post.
I don't feel compelled to add to it as it was quite complete. I do feel sorry that it's too late for you to edit your post.
Do you realize that many of these people walking away just may be doing so due to job loss or a devastating illness? Have you heard the saying that we are all one paycheck away from being homeless? Yes some have been not been responsible, however I would just bet many have fallen on their luck. What you "want" for these folks - remember the saying "what goes around comes around."
Do you realize that many people are walking away or have walked away from homes that they could continue to pay on, but don't because they are way upside down and their payments may have adjusted up to boot?
Do you realize that many of these people walking away just may be doing so due to job loss or a devastating illness? Have you heard the saying that we are all one paycheck away from being homeless? Yes some have been not been responsible, however I would just bet many have fallen on their luck. What you "want" for these folks - remember the saying "what goes around comes around."
Some may have hard times yes and many on here incuding myself have said just that. Hard luck is not defined as being irresponsible for years and then wanting someone else to come rescue your adult behind from the mess that you created for yourself. And if you are one paycheck from homelessness you are one of the irresponsible people who DO NOT deserve rescuing. Have you ever heard the saying if you make your bed hard you should lay in it ?
Some may have hard times yes and many on here incuding myself have said just that. Hard luck is not defined as being irresponsible for years and then wanting someone else to come rescue your adult behind from the mess that you created for yourself. And if you are one paycheck from homelessness you are one of the irresponsible people who DO NOT deserve rescuing. Have you ever heard the saying if you make your bed hard you should lay in it ?
Have you ever heard of someone who has it all, then comes down with cancer, all assets are eaten away by their treatments, etc. Well unless they have mega bucks packed away they stand to lose everything, or a sudden job loss. Not everyone makes big bucks to save. I consider myself fortunate that I am doing well, but have never taken that smug, arrogant attitude that "it can never happen to me." One day if you should need help, remember your own words and show a little heart for those struggling.
What will be next....? Do we have to bail them out of the credit card debt because they spent to much on clothes, cars, maybe even gambling or making cruises and than walk away.....
The baseball guy who walked away doesn't spent any less on his cars, etc... and still he walked away because it didn't make sense for him to keep paying on a home that was less in value now... I hope they get huge judgments and bad credit. Exceptions for the ill and the once who can proof they really were having real problems without them being at fault..., but IMO that is such a small group, the rest are just scam bags who will do it over and over again.
I'm an ivestor and have been looking at many short sales and bought also a short sale. I noticed that if you look on the clerks website you notice that many who are in trouble now are having their 2nd or even 3rd lis pendens (in 10 years), had tax liens or HOA liens and judgments, so basicaly not so innocent as what they try you to belive or what the realtors are trying us to believe.
I recently felt very sorry for a family who is on the edge of losing their home and they have it up as a short sale. They claim to be fired from a builder and be hired by another and fired again because the down market. After my offer fell trough and I was looking if i would raise the offer, I checked a little bit more and noticed. Tax line (few years ago, Hoa liens off and on, lis pendens, fore closure (10 years ago), so they knew how the system works and they could have changed by buying smarter but this person needs probable as many marriages as foreclosures to wise up. Basicaly i'm saying, don't trust the sad stories to easy but check them....
Maybe it is just my opinion, but I do think that today many younger folks want everything right here, right now. They want the biggest home in the nicest developments, nice cars, boats, etc. We watched this circus unfold here in Vistancia (AKA VistanCHA) over the last two years. Some of the ones that have lost their homes recently have been young first time buyers.
My husband and I started out in a single wide mobile home. We were very happy to get out of our rental and actually made real estate history when we sold it for a small profit. We jumped all the way up to a 2 bed condo in Upland CA. We are now in the 27th percentile of people that own real estate free and clear. My point is pride does go before a fall.
Have you ever heard of someone who has it all, then comes down with cancer, all assets are eaten away by their treatments, etc. Well unless they have mega bucks packed away they stand to lose everything, or a sudden job loss. Not everyone makes big bucks to save. I consider myself fortunate that I am doing well, but have never taken that smug, arrogant attitude that "it can never happen to me." One day if you should need help, remember your own words and show a little heart for those struggling.
Yes and i feel sorry for them AS I SAID BEFORE. I am not smug or arrogant I am being honest. And i know that I never said it couldn't happen to me because it has. About two years ago. My husband lost his job SUDDENLY. Bottom line he was due a $10,000 bonus and they decided it would be cheaper to get rid of him. After several years of stellar evaluations and an award for never being late or missing a scheduled day of work they canned him. The bigger problem was that we were in corporate housing so the pink slip came with 72 hour notice to vacate our gorgeous condo. Well we had always made good money but we were living high rent and mortgage free and not preparing. I still had a job but we were OVEREXTENDED AND UNPREPARED. Had we saved more and lived less we would have been pissed but OK. What should have taken a few phone calls and some frantic packing to resolve took months to recover from. Were they dirty and wrong to do us that way? Yes. Were we victims of a sudden job loss? Yes. Was the ultimate messed up position we were in their fault? NOPE. Get over it the government is not your Mommy and Daddy. Suck it up, expect the best, and plan for the worst.
Have you ever heard of someone who has it all, then comes down with cancer, all assets are eaten away by their treatments, etc.
Thank you for agreeing with me. Having it all is the problem. Try having enough instead.
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No editing
We were very happy to get out of our rental and actually made real estate history when we sold it for a small profit. We jumped all the way up to a 2 bed condo in Upland CA. We are now in the 27th percentile of people that own real estate free and clear. My point is pride does go before a fall.
