Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 09-03-2008, 02:10 PM
 
315 posts, read 348,525 times
Reputation: 54

Advertisements

NO, he felt his FAMILY'S safety was being risked so he did what I would have done if all other options for resolution were used. MOVE. Buy or rent. Doesnt matter. He needed to move.

 
Old 09-03-2008, 02:17 PM
 
877 posts, read 2,073,979 times
Reputation: 468
If you walk away from your home, the bank will foreclose on it. If the bank cannot get the entire amount owed on the house, then they can come after you for the remainder.

If you don't have the money, they can get a judgement lien against your house (basically a second mortgage).

You need an attorney. He should be able to get an injunction against these folks within a week, with damages to follow.
 
Old 09-03-2008, 02:21 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,585,197 times
Reputation: 677
Quote:
Originally Posted by SoCal Bottom Rider View Post
NO, he felt his FAMILY'S safety was being risked so he did what I would have done if all other options for resolution were used. MOVE. Buy or rent. Doesnt matter. He needed to move.
Well, hell... Everybody here on this forum (mostly) needs to move. I've needed to move for over 24 months since my husband's job was relocated to over 2 hours away (one way).
What a horrible quality of life MY family has had for two years. But never, ever, did I consider walking. Or buying before I was truly ready.

While I have empathy for the OP's neighbor problem, I have NO sympathy for the financial situation they have gotten themselves into.
And it does matter. If you are a taxpayer, you should make it your priority to care. Because people like this (by process of bank rescues) is what the taxpayers are essentially bailing out...
 
Old 09-03-2008, 02:26 PM
 
Location: Oxygen Ln. AZ
9,319 posts, read 18,716,205 times
Reputation: 5764
Ok. We moved to the mountains of N. CA years back when my kids were still small, thinking we were getting away from the crime of SoCal. Ha. The real estate agent put us right next to a meth lab. I spent 5 years trapped in that hellhole, watching the inhabitants destroy property values around us, stealing everything that was not locked up and urinating in the front yard. It was not pleasant living there and yes we were threatened all the time. We could not sell, nor could we move during that economic crash of 91. People/neighbors calling you names, even racially charged names is not an excuse not to fight back. Sorry but I think you are taking the easy way out.
 
Old 09-03-2008, 02:47 PM
 
315 posts, read 348,525 times
Reputation: 54
Until proven otherwise, the OP has honest intentions of selling the old home. So what if he was able to qualify for a new home. He QUALIFIED. That is his business if he wants to buy now again instead of renting. Now if he cant sell the home OR rent it out then walking is always an option, unfortunately. The bank gets the house, his credit is *****, business goes on. The main issue is many of you want to believe that he had buy and bail in his mind all along. Get over it.
 
Old 09-03-2008, 03:19 PM
 
Location: DFW
40,936 posts, read 49,025,568 times
Reputation: 54962
The main person hurt by walking on the 1st home is the OP. If they can live with the results and consequences of their decision it is their choice.

Personally, I would attempt to find a way to salvage my credit.

I still don't understand why they are going after the HOA. They are not the ones to police peoples actions unless it's written in the BY Laws.
 
Old 09-03-2008, 03:30 PM
 
Location: Greenville County, SC
275 posts, read 1,758,841 times
Reputation: 196
Default Best Wishes

OP;

The best advice I read was to hire an attorney to deal with the bank.

Regarding everything else, no one here is in your shoes. Best wishes for you and your family.
 
Old 09-04-2008, 05:25 AM
 
Location: Maine
2,272 posts, read 6,656,530 times
Reputation: 2563
Do I think that situations such as in the OP can occur? Probably, though it is always a red flag to me when the vast conspiracy goes all the way up the chain to the police, DA's office, etc. Maybe that's because I used to deal with mentally ill people -- paranoia and delusions sound very much like that. BUT, I give people the benefit of the doubt until proven otherwise.

If the neighbor's actions are causing the house to be unsellable, you are right to consider civil action. But, you are also right to state it will take quite a long time. In the mean time, your choices are limited, and have been suggested here already. If you choose to breach your mortgage contract on the first home, you need to be prepared for the negative consequences. I'd be doing whatever it takes to pay it every month until something can be resolved, be it sale or rental of the home, or judgment against the neighbors. I understand the need to move completely if the allegations are true, but as others have said, renting seems to have been the wiser choice.
 
Old 09-04-2008, 06:37 AM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,585,197 times
Reputation: 677
Quote:
Originally Posted by lawmom View Post
Do I think that situations such as in the OP can occur? Probably, though it is always a red flag to me when the vast conspiracy goes all the way up the chain to the police, DA's office, etc. Maybe that's because I used to deal with mentally ill people -- paranoia and delusions sound very much like that. BUT, I give people the benefit of the doubt until proven otherwise.

If the neighbor's actions are causing the house to be unsellable, you are right to consider civil action. But, you are also right to state it will take quite a long time. In the mean time, your choices are limited, and have been suggested here already. If you choose to breach your mortgage contract on the first home, you need to be prepared for the negative consequences. I'd be doing whatever it takes to pay it every month until something can be resolved, be it sale or rental of the home, or judgment against the neighbors. I understand the need to move completely if the allegations are true, but as others have said, renting seems to have been the wiser choice.
Agreed.
 
Old 09-04-2008, 01:50 PM
 
19 posts, read 80,947 times
Reputation: 20
Actually I have delt with a very similar issue. While the situation is not pleasnt there are things you need to do as they are your responsibility. I am a landlord as well as a mortgage lender so I can speak to some of this.

1. Pay your mortgage on time. Your reason is not considered a good excuese and will not be forgiven by the lender.

2. Create a journal of activities with times dates and descriptions of everything that happens. You are not in the house now but you need to document things that continue to happen.

3. Report everything that happens to the police and demand they at least create a record of your complaint, submit it in writing and ask that receive a copy.

4. Hire a good attorney and sue the landlord of the tennants that are bothering you. The landlord will cry breach of contract with their tennants and evict them. The attorney can also sue them directly, but this should be discussed with the attorney.

The cost of the attorney will be worth what you will gain from the sale of your home.

Walking away from a mortgage will hurt you credit-wise for seven years. So don't plan on refinancing your current house or buying another one, or even applying for a car loan for at least two years, maybe more.

If they foreclose and they can't sell the house for what you owe you will still be stuck with the difference and you can't even file bankruptcy to get rid of it.

Don't walk away, you will regret it so much more if you do.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.



All times are GMT -6. The time now is 07:14 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top