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Is this going to be a trend? Are the scum bags going to dictate everything. Not paying a mortgage and than getting cash when you walk off.
Most of them don't even care about their credit score....I have looked at many properties and many people doing a short sale did have a lis pendens in the past, so they haven't learned anything and just don't care. The rest of us can sit and enjoy distress properties and people living in houses without paying property taxes and not paying mortgages. I have one in the street and still living in the home for almost a year having lis pendens. How is this possible?
I hate to burst your bubble, but this has been going on for years. It is a smart move by the bank. A disgruntled owner about to be evicted can do quite a bit of damage in a short amount of time. The cash incentive gives the owner a reason not to trash the home. It makes the house easier to sell, and easier for a buyer to purchase. It prevents the sale value from being decreased any more than it already is as a foreclosure.
Also, just because someone has their home foreclosed on doesn't mean they are scumbag. It is not fair to broad brush that.
Yeah, it's cash for keys. Some banks will assist with moving expenses. Not all, but some. I don't see a problem with a bank assisting someone if they feel it will help the situation or protect their soon to be property.
Have you seen what a soon to be evicted homeowner can do in a couple hours? Amazing what a sledgehammer and pipe cutter can do, especially if the water hasn't been turned off. If it takes a few hundred bucks to leave peacefully, so be it.
I hate to burst your bubble, but this has been going on for years. It is a smart move by the bank. A disgruntled owner about to be evicted can do quite a bit of damage in a short amount of time. The cash incentive gives the owner a reason not to trash the home. It makes the house easier to sell, and easier for a buyer to purchase. It prevents the sale value from being decreased any more than it already is as a foreclosure.
Also, just because someone has their home foreclosed on doesn't mean they are scumbag. It is not fair to broad brush that.
If it is has to take cash for them not to trash their home, IMO these people are scum bags and should be punished in another way and not given a reward to leave the home as it should be.
The word scum bags is for the people who trash their homes, not for the once who just leave.
Next to me the home was for sale for over 2 years. The person took care of his home and had 2 homes for sale. Now he walked away since he couldn't get it sold for the ridiculous amount he was asking for the last 2 years. If he only had asked a reasonable price, he had a bigger chance of selling. (he used at least 4 different brokers, one of them the has the highest sales in the Tampa area and keep getting rewards, but probable wasn't able to reason about a reasonable sales price). The price was $ 70 K above the new construction price and the builder is still building this model, so it doesn't make sense to ask this amount. That is an sales price to NOT sell your home. So I don't feel sorry for this person and if a person like this gets money to walk away, that is making me mad!!!!
If it is has to take cash for them not to trash their home, IMO these people are scum bags and should be punished in another way and not given a reward to leave the home as it should be.
The word scum bags is for the people who trash their homes, not for the once who just leave.
I agree.
There are plenty of people who don't feel the need to take out their frustration in such a juvenile way. Scumbags indeed.
It's obviously a wise business decision by the banks to protect their future REOs, but a shame they have to resort to that.
There are plenty of people who don't feel the need to take out their frustration in such a juvenile way. Scumbags indeed.
It's obviously a wise business decision by the banks to protect their future REOs, but a shame they have to resort to that.
Yes but shouldn't it be the other way around instead of giving rewards for normal behaviour.....isn't this encouraging fraud?
Shouldn't it be that if you trash other peoples (since these people didn't own the property, the mortgage company paid so they could live there), they should be punished in court. Let them be punished were it hurts the most so others will think twice before doing the same.
Where is the money coming from that is used to pay the people Not to trash properties? This money has come from some place so it is taken away from money some where else......
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