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Long story short, this happened to us about 13 years ago, and we lived next door to the 'problem' for 2, until we could sell. We had lived in our home for 17 years, sons were both in high school and did not want to move, but our long time next door neighbors sold their home to a middle age couple. no sooner did the ink dry on their escrow but these people moved their late teen son, his pregnant girlfriend and pit bull in. Gang banger, bad news, already had 1 strike against him (we lived in CA). Well, it looked bad but hubby and I went and introduced ourselves, congratulated them on the baby, blah blah blah. Well, not long after did the problems start. Pit bull kept in a side yard day and night, never out. Barked, day and night. Cars came and went day and night, dog barked. It's a long story, we ended up being threatened and everytime one of us (even the boys) came home into the driveway, we got flipped off. It was extremely scary to be afraid to even be in the home you've lived in for so long...I was so afraid that while the house was for sale that that lowlife would do something to ruin it for us, I didn't even want a sign out, when it sold I would not let our agent put a pending sign on it, nothing..We did get the for sale sign, and a sold sign when it was said and done. How sad we had to leave a home we lived in for so long, but we had to go. Anyway, it turned out ok for us, we ended up in a better home and neighborhood, but my heart still pounds every time I think about it, or I hear that 'boom boom' music that just pounds at your heart. Even after all these years. We did think about renting the house and us renting something else, I was not brave enough to buy before we sold, but I do truly understand the feeling. It was a nightmare for us, as I'm sure it is for you.
Now, could you rent it? I don't get how even the HOA is overlooking it, must be a pip...
You don't want to trash your credit over this, then THEY have won..
I think you have gotten some good advice, but it seems like you have already pretty much made up your mind to walk away. I don't think it's right, but nothing anyone on this board says will change your mind.
However, I have a few other (kind of wacky) suggestions.
Have the crazy neighbors been arrested for drug use? Not sure what the rules are in Tennessee, but in my state a landlord is required to evict a tenant when they have actual knowledge of, or probable cause to believe the tenant, members of tenant's household, or persons on the property with the consent of the tenant are engaged in drug use. Might be worth looking into.
The way you describe the neighbors and the HOA leads me to believe upstanding citizens would probably not want to rent your house. This might sound terrible, but how about renting to someone who could hold their own against the neighbors? Perhaps a convicted felon who would have a tough time renting somewhere else? A renter would likely allow you to continue to make the mortgage payments and avoid foreclosure. You could even hire a property management company so you don't have to go back to the house. Wait a few years until the neighbors move, and then try to sell.
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,591,875 times
Reputation: 677
Quote:
Originally Posted by SoCal Bottom Rider
'Homeowner fraud exacerbates mortgage crisis | Business | PE.com | Southern California News | News for Inland Southern California (http://www.pe.com/business/local/stories/PE_News_Local_S_cheaters31.45b183a.html?ref=patric k.net - broken link)
taken from the other thread...This is YOU if you go through with just walking away'
Stop it. This is NOT them. The OP's situation is very different from the ones mentioned in the article who purchased too much home, sucked the HELOC and now buy and bail.
WHAT?
You're kidding, right?
They've only tried to sell their home for what? A month? Sounds to me like they had buy and bail planned all along...
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,591,875 times
Reputation: 677
Sorry to point this out, but if the bank gave you a loan for a second home, then clearly you had the financial means to support two house payments. I don't see how you could be in the red, unless by choice.
Stop it. This is NOT them. The OP's situation is very different from the ones mentioned in the article who purchased too much home, sucked the HELOC and now buy and bail.
How exactly is their situation different? Regardless of their reason, they are looking to bail all the same. They simply wanted to walk on their mortgage.
For one thing, they didn't falsify any documents claiming that they were going to rent out the house, which the article quoted above specifically references. They also aren't setting up a fraudulent short sale using straw buyers (also listed in the article). Most importantly, they closed on the new house before the new guidelines listed in the article came into effect, so there's no way they could have committed fraud by violating non-existing rules in the first place.
There's nothing inherently illegal or fraudulent about being foreclosed on. Unless there's hard evidence for real fraud here, I think it's a bit irresponsible to accuse someone you've never met of committing a felony.
WHAT?
You're kidding, right?
They've only tried to sell their home for what? A month? Sounds to me like they had buy and bail planned all along...
Even if this is true, which is a big leap, it still doesn't make it mortgage fraud unless they intentionally falsified documents for the lender. Any evidence that they did?
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,591,875 times
Reputation: 677
Quote:
Originally Posted by KCfromNC
Even if this is true, which is a big leap, it still doesn't make it mortgage fraud unless they intentionally falsified documents for the lender. Any evidence that they did?
Do you know for a fact they didn't? Everything the OP said seems too "premeditated" to me.
It is their decision to walk. A decision that will affect them for a long time. But don't come on a message board, ask the question, and get angry with the repsonses you get. Everyone has their own opinions and what is right/wrong to some might not be right/wrong to someone else. You've heard what the vast majority has posted, do what you want with it.
Do you know for a fact they didn't? Everything the OP said seems too "premeditated" to me.
It is their decision to walk. A decision that will affect them for a long time. But don't come on a message board, ask the question, and get angry with the repsonses you get. Everyone has their own opinions and what is right/wrong to some might not be right/wrong to someone else. You've heard what the vast majority has posted, do what you want with it.
Agreed. The confidence OP portrays in the original post contrasts greatly with attitude given when she does not like what he/she hears from other posters. OP appears to have the feds involved, etal - so why the need for anonymous advice?
I, for one, can easily imagine that what the OP is describing has happened. I have relatives in the South, in Nashville in fact, who are as sweet and kind as can be-- as long as you're white. But they are also virulently racist. So, yes, I get it.
That said, putting the house on the market when you don't believe it can sell, seems futile to me. And while going to the press will 'advertise the home,' in some sense, it may get these people to back off. At any rate, the house is probably already 'noted' by all the locals, including the RE agents, so any negative publicity has likely spread around the grapevine. Southerners live on gossip and iced tea.
So, providing your lawyer and the Feds are in agreement, I'd explore the "sunlight is the best disinfectant" approach. In fact, IIWY, I'd call up the civil rights organizations at once, maybe the ACLU, the NAACP, or even the Rev. Jackson's people. At least get their advice. Couldn't hurt. Good luck.
Well you came here to ask for advice, and you got it. Maybe it's not what you wanted to hear.
Do what you must, but no matter what kind of PIA neighbors you had, you can't blame them for your financial situation at hand. You bought a house before you sold your other. That in itself is financial suicide and should've been thought through very well beforehand.
I agree, the OP could have moved away and rented it for the time being, specially since he expect a 6 amount figure......how can be every one be racial......police, hoa, neighbors.......maybe you can be more specific or if not (I don't blame you if you don't) you have to understand that it is hard for others to understand what is really going on...as long as you have written proof, tapes, pic, etc...you might have a case....but you are to blame for bying another house and not the other people...sorry.
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