U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
 [Register]
Sarasota - Bradenton - Venice area Manatee and Sarasota Counties
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)
Reply Start New Thread
 
Old 04-12-2008, 07:32 PM
 
58 posts, read 165,160 times
Reputation: 31

Advertisements

There are a few thousand foreclosures right now in sarasota, in boca raton the number of foreclosures is almost twice as high as sarasota. It is a flipper and predatory lenders paradise.
In well run towns and counties, the mayors work with the people and write local laws AGAINST predatory lenders. Police arrest predatory lenders in other towns and counties.

What action has the mayor taken against predatory lenders in sarasota? Has a law been crafted to STOP predatory lenders aka fraud and price gouging? With Florida LEADING the nation in foreclosures, Florida is number #1 in highest number of foreclosures nationwide, I have to ask why are there no laws on the books to stop predatory lending?

Is predatory lending and flipping a new sub industry in Florida? I can not imagine why a mayor would not pass laws against predatory lenders. Does florida like having the most foreclosures of any state in the nation?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 04-12-2008, 08:03 PM
 
58 posts, read 165,160 times
Reputation: 31
Warren Buffet said the housing market will correct to fundamental price values and true verifiable costs.
Menards sells brand new complete 2-3 bedroom home builder kits for $39,000 all materials, including a garage, add labor, elec, plumbing and 10,000 lot cost and fundamental cost value of a new 2-3 bedroom home with a garage is 69,000. Condos are half that and less, in cost. Buffet built low cost affordable manufactured homes all up and down the east coast as he saw the need for affordable low cost low priced housing.
The glut of irrationally overpriced inflated mcmansions and other overpriced housing units sit vacant and will sit vacant until sold at cost. 710,000 dollar homes in CA just closed at 71,000.
There is no law that says housing always goes up up up. Sometimes housing prices go down down down. To reflect actual value cost price and demographics.
If you bought at low price cost before 1990 you will be ok maybe break even or make a little profit. If you bought overpriced in the 1990's to 2008 you have a long ride down and will not see housing unit appreciation in this century.

By the by - This info is in the news everyday, even the President said people should not overpay for housing. Price gougers and inflators want you to overpay hundreds of thousands of dollars, for a fast depreciating, money pit, dump. Gougers...... just want you to drink the kool-aide and sign.

Yuppies have no one to blame but themselves for buying houses they can not afford. Anjd the rest of us should demand laws in our cities and towns against predatory lending to keep our taxes low and in line with true housing unit cost and value.

One slimey mortgage broker sold and underwrote a cleaning lady maid with low income a 699,000 dollar house, he lied on her application for the loan, the cleaning lady lost the house within weeks after closing, and the mortgage broker lender made his thousands of dollars $$$$ commission fees and the neighbors taxes went up for fraudulent comp reasons and the house went into foreclosure until the predatory lenders can flip and churn it again.
Predatory lending is a crime, it is called fraud, deceptive practice and grand larceny, and is rampant in florida real estate markets. Why do you think florida is number 1 in foreclosures nationwide?

Because buyers who watch, Flip It, tv shows and shop like paris hilton drunk at saks, are the only people buying and busting out of the overpriced housing units, then they and thier bk families go on welfare and everybodies taxes increase to pay for another homeless family and the inflated tax increases destabilize other homeowners and the cities and counties LOSE once stable tax bases, courtesy of the predatory lenders and greedy price gougers and housing unit flippers and inflators.
Greed destroys itself.

By the by - Warren Buffet still lives in the same modest home he bought 40 years ago. The price has appreciated, but not much, I think a home like his home sells for 100,000 now in omaha na.
I believe what Warren Buffet says, he makes common sense, is fundamental and is logical. Irrationally enthusiatic buyers who overprice and sellers who overpay and bustout are not logical, not fundamental and they make no sense.

Last edited by jay2007; 04-12-2008 at 09:13 PM.. Reason: spelling
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2008, 08:09 PM
 
Location: Boca Raton, FL
5,819 posts, read 9,473,213 times
Reputation: 7833
Smile Sarasota - plan to visit - where to stay?

Any places on Siesta Key or Longboat Key? 2 day visit....a couple of people have listed places to see while there and we plan to do that.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2008, 08:16 PM
 
Location: Boca Raton, FL
5,819 posts, read 9,473,213 times
Reputation: 7833
Quote:
Originally Posted by jay2007 View Post
.

One slimey mortgage broker sold and underwrote a cleaning lady maid with low income a 699,000 dollar house, he lied on her application for the loan, the cleaning lady lost the house within weeks after closing, and the mortgage broker lender made his thousands of dollars $$$$$$$$$ commission fees and the neighbors taxes went up for fraudulent reasons and the house went into foreclosure until the predatory lenders can flip and churn it again. Predatory lending is a crime, it is called fraud, and is rampant in florida real estate markets. Why do you think florida is number 1 in foreclosures nationwide?
Jay - it will all adjust. Do you think honest people who work 18 hours a day are happy about all this? I happen to be an honest mortgage broker with a credit background who cares about credit and what people get into. The lenders and banks are the ones who came up with these programs. They underwrote them, approved them, looked at appraisals and you know what, they could have said NO! It sounds like the woman above would never have made her first payment (early payment default) which should have been a warning sign to the lender. In that case, the broker may have had to give up his commission, the account executive also and so forth. Again, it goes back to the lenders. They did not have to approve these deals. I was laughed at because I wasn't cool enough and left and started my own company.

But we are off topic here - this is about Sarasota. Listen, Florida has much to offer. We are all different/Florida can be a wonderful place. There are some very nice, honest people in Florida. Not all of us are bad.

We have lost through the years as well. My husband and I have started over many times. We support elderly parents and have children as well. So, we are sandwiched but happily so. Take care.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2008, 10:03 PM
 
58 posts, read 165,160 times
Reputation: 31
ON SITE managers of the banks and the loan officers and the realtors were in bed litterally with the vps, lending officers, and processors, ridiculous 1000 times inflated appraisals were approved, loan processors were litterally sleeping with and being paid under the table kickbacks by bad real estate division vice presidents and told to overlook and not verify fake numbers, lending vp's would hire thier mistresses to process thier bad loan paper, personell depts of banks were so lazy, questionable guys who had been fired from 12 different banks in 3 years were being hired as new re vps and given free reign, as long as they had good credit, bank personell depts would hire billy the kid the notorious bank robber as long as he looked good on paper, (often fake paper with fake mba's) the regional bank vps and presidents and mangers just wanted NUMBERS/SALES to look good to THIER bosses and the quality of loan to brick value or applicants ability to pay was overlooked at every level in real estate lending, presidents of banks were sleeping with mistresses who ran real estate firms, married ceo's of banks were impregnating thier tellers, one bank ceo had 4 babies by 4 tellers working in his bank, they were all illegal immagrant girls he impregnated btw. He asked me to design an onsite daycare nursery at the bank for all his illigitimate kids from tellers, other ceo's were jet setting to mauii, one bank ceo was sleeping with the woman who owned the biggest county newspaper, she was his BOD board of directors, so you know the truth about real estate bad lending practices were NOT published in her large circulation newspapers. bank ceo's were not doing thier job or managing or verifying thier bank presidents, bank vps and employees.

Professional, information thieves, got jobs by the HOARDS at banks to rifle through large account holders personal data, then the info thieves at the banks would commit crimes against the wealthy targeted depositers, usually grieving widows, single mothers, orphaned hiers or rich depositers, men with drinking problems or new widowers etc, the bank employees would target and rob those depositors, using jezebels or some cheezy GQ guy in scams or even use criminal force. It is all bad, no good. And the banks took a beating for letting this criminal behavior go on at lending institutions, that is why 200,000 bank employees lost and are losing thier jobs across USA.

The mortgage shops that use pooled money, ie, Michael Jordens money, to underwrite home loans have been no better at verifying appraisals or income statements and wrote as many or more bad loans as the banks, just to get short term commissions $$$$ from closings. The overworked hud processors have been defrauded by hud prospectors for a long time, so much so that the head of hud was fired in disgrace and is still being investigated.

I do not know why ceo's of banks let this go on. It seems with mega banks the ceos lost quality control over employees and the smaller banks did same. The banks were bailed out with 23 billion last week, see bear sterns buyout by chase. The people hurt in this debacle are the homeowners who were targeted and overpaid 10 times for a house, and other nearby homeowners who now pay fraud inflated property taxes, honest bank employees who had no oversight committe to report these crooked creeps to and buyers of bundled loan packages. Bank examiners were asleep at the wheel..... or were planted dupes paid to look the other way? More foxes guarding the chicken coop?

I can not figure why the bank owners would hurt themselves and the communities and the nation by not regulating themselves and thier employees.

Last edited by jay2007; 04-12-2008 at 10:56 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-12-2008, 10:37 PM
 
58 posts, read 165,160 times
Reputation: 31
Default professional standards and regulation

By the by- In 1992 or so banks and real estate lobbied and changed laws so they would no longer be regulated by professional standards and practices the governance body that regulated them and 42 or so other professions.
It is the professional standards regulatory commission with administrative hearing judges that correct and remove the license from any dishonest professionals like lawyers, doctors, nurses, beauticians, barbers etc who get too many complaints or are alcoholics or drug addicts etc. When banks and real estate left professional standards regulation, the entire re market inflated. And soprano type guys who acted and looked and talked like crooks were hired to be the new real estate and banking regulators and licensures of banks and real estate agents.

If a person or honest bank employee or honest realtor or targeted person or harmed person filed a complaint the new heads of banks and real estate, would swear at the complaintants and hang up on them or threaten them or throw written complaints in the garbage, they, the new heads of banking and real estate seemed to just want to collect real estate agent license FEES every year from realtors and had zero interest in governing or regulating anything, they said , "so what and who cares", when reports of grand larceny, fraud, assault and even murder, (a sexy woman realtor was sex seducing her equity rich male homeowner clients and having her other sex partner, a bank loan officer, an ex marine, hide in the closets and gravely assault, his knees to the rib cage of the male homeowner- an old prison murder technique, the bank loan officer would do this to the wealthy homeowner targeted males, for grand larceny theft of thier home equity by murder or blackmail and frameing if the targeted male homeowner lived and survived the attack), these are crimes that were committed by real estate agents and predatory lenders that worked at low assistant vice president levels in banks.

That is why individual cities and towns and mayors and mayors counsils passed LOCAL laws and ordinances to prohibit predatory lending and predatory lending practices. Predatory mortgage brokers and crooked realtors are arrested by police in towns where laws against predatory lending were passed.
Most all american mayors and towns and big cities do not welcome predatory lending criminals and the police now have the authority to arrest predatory lending criminals and information thieves if they try to rob, defraud or injure others in predatory lending, information theft and real estate scams.

Banks always hide and cover up the crimes thier employees committ, they just fire them internally, and keep it quiet because they do not want the truth to affect shareholders investments and they want to keep up a good front, so confidence is not lost in the bank.
Realtors are same, they walk thru other peoples dirty basements all day just to make a sale. They are all salesmen, some salesmen will say anything to make a sale. Thier job is to sell stuff, even stuff 10 times overpriced.
Caveat Emptor
Buyer Beware

Last edited by jay2007; 04-12-2008 at 11:49 PM.. Reason: spelling
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-14-2008, 09:40 AM
 
Location: Florida
4,835 posts, read 13,030,543 times
Reputation: 2198
Quote:
Originally Posted by Bette View Post
Any places on Siesta Key or Longboat Key? 2 day visit....a couple of people have listed places to see while there and we plan to do that.
How about the Holiday Inn on Lido? Easy access to the beach/across the street, St. Armand's, Downtown, and Siesta is a 20 minute drive....
Rate this post positively Reply With Quote Quick reply to this message
 
Old 04-14-2008, 02:21 PM
 
172 posts, read 441,594 times
Reputation: 58
Siesta Key has the Siesta Beach Resort and Tropical Breeze Resort(make sure you ask for the renovated suites), Lido Key has the Lido Beach Resort, and downtown Sarasota has the Hotel Ranola.Best Wishes!
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > Sarasota - Bradenton - Venice area
Similar Threads

All times are GMT -6.

© 2005-2021, 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