Foreclosure or shortsale? update-My shady lawyer

JonnyPistachio · February 2012

GS4566 wrote:

Dukes10 wrote:

JonnyPistachio - Not sure where you are coming from. You signed a contract and promissed to pay your debt. Now that you don't like that the value has decreased and you want to walk away. You also want to know what the least amount of pain this will cause you.
This is exactly why we are in the situation we are in this country.
Peaple who do not want to honor there debts and think they can just walk away. How does this help the community? See what has happened when the others around you did this.
Why don't you try and honor your responsibility. Maybe get out there and try to improve your community instead of packing up and making it worse.
Can't believe you are on this site asking this kind of question.
The site you are on is based upon a band, and their fans, that preach responsibility and making this a better world for us all. In no way is walking away from your responsibilities and making it someone else's problem and creating more problems for this community a choice you should be considering.
Man up and honor your responsiblities. Don't fold.
Use this as a stepping off point to get to know your neighbors and better your community.

Dude. Not only am I Broker, I'm a contractor. I saw a floor tile installer, who made about 10 bucks an hour, buy a home for 550k an get a home equity line of another 100k on a home in 2005. The bank loaned this guy 650k! He foreclosed in 2007 and the home resold for 255k. Tell me now, who's fault is it?

Have you ever looked at your mortgage payment and see how much goes to INTEREST. They make their money. Also, the bank DOES NOT want the home (or any homes) anymore. A short sale is a win for the bank also.

I had bought my first house in 2002, and I was contemplating renting it out and buying another home in the same neighborhood. The bank Ok'd me for my second loan before my previous house was sold and before it was ever rented. There was no way I could've afforded both without renting one, but they didnt care.

Also, i dont know if its accurate or not, but I even read that some banks that bought loans from other lenders, actually made money of some foreclosures.

Honestly, I figured some people would chime in and say what I was considering was wrong...in 2007 I saw a lot of articles discussing what maj4e said...is there a moral dilemma? again, I am having a hard time with this decision. I like my house and actually like some of the surrounding neighborhoods, but safety is seriously an issue. And when I heard those gun shots the other night, I decided it was time to stop convincing myself that my wife will be safe.

rick1zoo2 · February 2012

crazypjfan wrote:

If you don't already have one, I would buy a gun.

wow.

JonnyPistachio · February 2012

Danimal wrote:

Dukes10 wrote:

JonnyPistachio - Not sure where you are coming from. You signed a contract and promissed to pay your debt. Now that you don't like that the value has decreased and you want to walk away. You also want to know what the least amount of pain this will cause you.
This is exactly why we are in the situation we are in this country.
Peaple who do not want to honor there debts and think they can just walk away. How does this help the community? See what has happened when the others around you did this.
Why don't you try and honor your responsibility. Maybe get out there and try to improve your community instead of packing up and making it worse.
Can't believe you are on this site asking this kind of question.
The site you are on is based upon a band, and their fans, that preach responsibility and making this a better world for us all. In no way is walking away from your responsibilities and making it someone else's problem and creating more problems for this community a choice you should be considering.
Man up and honor your responsiblities. Don't fold.
Use this as a stepping off point to get to know your neighbors and better your community.

This is by far one of the funniest replies I have ever seen!!!

Johnny P, you SHOULD get to know your neighbors more. Start a meth lab and try to get the community involved.

haha, well, there's too much competition in the meth division here...maybe i'll take crack. its cheaper and easier to move. I found my neighbor dead form a drug overdose. That was coke though.

crazypjfan wrote:

If you don't already have one, I would buy a gun.

Funny you should say that. This is another dilemma. I have always said i'd never get a gun. But when you hear shots, sometimes you think differently. But most of the violence in my neighborhood is gang related. So they are mostly just killing each other. But we have a large Guatemalan population here, and they are victims of stabbings and robberies too often because many are illegals and the thugs know they carry cash on fridays because they cant get bank accounts. The neighborhood was on the rise in the early 2000's..heck its near the beach, but its not going to recover form this when the gangs are running things.

cowboypjfan · February 2012

rick1zoo2 wrote:

crazypjfan wrote:

If you don't already have one, I would buy a gun.

wow.

why wow?

Almost everyone I know has a gun and they don't even live in a bad neighborhood. Clearly, there is a problem when you hear gunshots in the middle of the night. I know I would rather have something to protect my family if someone broke in.

Dukes10 · February 2012

Wow. It must feel good to blame everyone else. It was not your fault that you didn't know the neighborhood. It's not your fault that the mean banker made you sign a loan that you didn't understand. Those ARM loans are just so confusing that you could not have known the facts. You are right. It's everyone else's fault.
I wonder what else is not your fault.
Hope you find comfort in blaming everyone else. That will help you justify.
By the way, it's not a high horse I'm on. When you stand on your own those who lay down and give up see it as being a high horse.

rick1zoo2 · February 2012

crazypjfan wrote:

rick1zoo2 wrote:

crazypjfan wrote:

If you don't already have one, I would buy a gun.

wow.

why wow?

Almost everyone I know has a gun and they don't even live in a bad neighborhood. Clearly, there is a problem when you hear gunshots in the middle of the night. I know I would rather have something to protect my family if someone broke in.

I am not going to argue with you, I'll just say my opinion is that guns only cause more violence and having them in my house would be a danger to my family.

Jearlpam0925 · February 2012

DIdn't they pass some new law, or program, where the government is compensating the difference if you're underwater on your house?

themessenger · February 2012

Jearlpam0925 wrote:

DIdn't they pass some new law, or program, where the government is compensating the difference if you're underwater on your house?

HAMP 2.0 is really meant for loan modifications in this type of scenario. It's a modification program so you stay in the house but it involves some sort of reduced interest rate or principal reduction typically. It's rolled out to servicers now and homeowners in May it looks like.

http://www.makinghomeaffordable.gov/pro ... /hamp.aspx
"Making Home Affordable is planning enhancements to the HAMP Program. Detailed information will be available for mortgage servicers in February 2012. The expanded program for homeowners is expected to be available in May 2012. We will update this site as more details become available."

blackredyellow · February 2012

Dukes10 wrote:

Wow. It must feel good to blame everyone else. It was not your fault that you didn't know the neighborhood. It's not your fault that the mean banker made you sign a loan that you didn't understand. Those ARM loans are just so confusing that you could not have known the facts. You are right. It's everyone else's fault.
I wonder what else is not your fault.
Hope you find comfort in blaming everyone else. That will help you justify.
By the way, it's not a high horse I'm on. When you stand on your own those who lay down and give up see it as being a high horse.

In addition to being able to ride on a taller-than-average-sized horse, you are also good at putting words in peoples' mouths.

bionicamy · February 2012

Jearlpam0925 wrote:

DIdn't they pass some new law, or program, where the government is compensating the difference if you're underwater on your house?

http://portal.hud.gov/hudportal/HUD?src ... oreclosure

JonnyPistachio · February 2012

Dukes10 wrote:

Wow. It must feel good to blame everyone else. It was not your fault that you didn't know the neighborhood. It's not your fault that the mean banker made you sign a loan that you didn't understand. Those ARM loans are just so confusing that you could not have known the facts. You are right. It's everyone else's fault.
I wonder what else is not your fault.
Hope you find comfort in blaming everyone else for my loan. That will help you justify.
By the way, it's not a high horse I'm on. When you stand on your own those who lay down and give up see it as being a high horse.

I see you're confused. I'm not blaming anyone else. I know its my responsibility. But I can't control everything. again, you had no answers for my questions..shows that you just want to come in here and bitch..
I didnt get an ARM by the way. and No, its not seeing you on your high horse because you are mister responsible and I am the reason my neighborhood will go to hell in your eyes. You're on your high horse because you are judging and being condescending without even considering the facts. Like I said, I know people wouldnt agree with it..that's fine..its your opinion. nobody is wrong or right on this situation...its all opinion. again, no laws broken.

And why didnt you answer my question? here it is again: What would you do if you had a wife and baby and had to chose to live in a crime ridden dangerous neighborhood, or a safe one?

cowboypjfan · February 2012

rick1zoo2 wrote:

Almost everyone I know has a gun and they don't even live in a bad neighborhood. Clearly, there is a problem when you hear gunshots in the middle of the night. I know I would rather have something to protect my family if someone broke in.

I am not going to argue with you, I'll just say my opinion is that guns only cause more violence and having them in my house would be a danger to my family.[/quote]

I respect your opinion. I just wouldn't want to live with myself knowing that I could have done more if my family were threatened in the middle of the night and one of them were killed/injured.

There are many people who own a gun 'responsibly'. Unfortunately, there are also many who shouldn't be allowed to. People can hurt themselves with alcohol just the same as a gun.

rick1zoo2 · February 2012

crazypjfan wrote:

rick1zoo2 wrote:

Almost everyone I know has a gun and they don't even live in a bad neighborhood. Clearly, there is a problem when you hear gunshots in the middle of the night. I know I would rather have something to protect my family if someone broke in.

I am not going to argue with you, I'll just say my opinion is that guns only cause more violence and having them in my house would be a danger to my family.

I respect your opinion. I just wouldn't want to live with myself knowing that I could have done more if my family were threatened in the middle of the night and one of them were killed/injured.

There are many people who own a gun 'responsibly'. Unfortunately, there are also many who shouldn't be allowed to. People can hurt themselves with alcohol just the same as a gun.

I understand your position, I just take the stance that any gun added to a situation only makes it worse and its not worth having something that dangerous in the house, so I would never keep one. I can add that I do enjoy shooting guns a lot. And I agree, most are responsible enough to own them, its just the small minority that I don't trust. For example, a neighbor pulled his gun on my (at the time) wife, who only stepped out on the deck to smoke a cigarette at 2:30am. That made me more fearful of my batshit crazy neighbor than someone breaking in.

Jearlpam0925 · February 2012

bionicamy wrote:

Jearlpam0925 wrote:

DIdn't they pass some new law, or program, where the government is compensating the difference if you're underwater on your house?

http://portal.hud.gov/hudportal/HUD?src ... oreclosure

Ah. There it is.

USARAY · February 2012

This happened to my friends, they lost a lot of value, neighborhood let in title
aid people then it really changed, renters, no one taking care of the properties,
number of break ins, went to hell
they just locked the doors walked away moved to a better place area and rent
their credit is messed up but can still get plenty of credit cards and loans for stuff
even a slightly used new truck just won't get a house anytime soon, everybody's doing it

Jearlpam0925 · February 2012

Dukes10 wrote:

JonnyPistachio - Not sure where you are coming from. You signed a contract and promissed to pay your debt. Now that you don't like that the value has decreased and you want to walk away. You also want to know what the least amount of pain this will cause you.
This is exactly why we are in the situation we are in this country.
Peaple who do not want to honor there debts and think they can just walk away. How does this help the community? See what has happened when the others around you did this.
Why don't you try and honor your responsibility. Maybe get out there and try to improve your community instead of packing up and making it worse.
Can't believe you are on this site asking this kind of question.
The site you are on is based upon a band, and their fans, that preach responsibility and making this a better world for us all. In no way is walking away from your responsibilities and making it someone else's problem and creating more problems for this community a choice you should be considering.
Man up and honor your responsiblities. Don't fold.
Use this as a stepping off point to get to know your neighbors and better your community.

This is highly misinformed. Dude, if you ever want a complete lesson on how all this mess started I'd be more than obliged to inform you.

cowboypjfan · February 2012

rick1zoo2 wrote:

For example, a neighbor pulled his gun on my (at the time) wife, who only stepped out on the deck to smoke a cigarette at 2:30am. That made me more fearful of my batshit crazy neighbor than someone breaking in.

Oh geez, that's fuckin crazy. The only way I am pulling out a gun is if I know(for a fact) that someone has broken in and is armed. Other than that, target practice can be a lot of fun..

JonnyPistachio · February 2012

Jearlpam0925 wrote:

bionicamy wrote:

Jearlpam0925 wrote:

DIdn't they pass some new law, or program, where the government is compensating the difference if you're underwater on your house?

http://portal.hud.gov/hudportal/HUD?src ... oreclosure

Ah. There it is.

Ahh, cool. Thanks. I will check into those links on that page...I wonder if I can do this...then sell the house:

“Underwater” Mortgages
In today's housing market, many homeowners have experienced a decrease in their home's value. Learn about these MHA programs to address this concern for homeowners.

Principal Reduction Alternative: PRA was designed to help homeowners whose homes are worth significantly less than they owe by encouraging servicers and investors to reduce the amount you owe on your home. Click Here for more information.

Jearlpam0925 · February 2012

GS4566 wrote:

Dukes10 wrote:

JonnyPistachio - Not sure where you are coming from. You signed a contract and promissed to pay your debt. Now that you don't like that the value has decreased and you want to walk away. You also want to know what the least amount of pain this will cause you.
This is exactly why we are in the situation we are in this country.
Peaple who do not want to honor there debts and think they can just walk away. How does this help the community? See what has happened when the others around you did this.
Why don't you try and honor your responsibility. Maybe get out there and try to improve your community instead of packing up and making it worse.
Can't believe you are on this site asking this kind of question.
The site you are on is based upon a band, and their fans, that preach responsibility and making this a better world for us all. In no way is walking away from your responsibilities and making it someone else's problem and creating more problems for this community a choice you should be considering.
Man up and honor your responsiblities. Don't fold.
Use this as a stepping off point to get to know your neighbors and better your community.

Dude. Not only am I Broker, I'm a contractor. I saw a floor tile installer, who made about 10 bucks an hour, buy a home for 550k an get a home equity line of another 100k on a home in 2005. The bank loaned this guy 650k! He foreclosed in 2007 and the home resold for 255k. Tell me now, who's fault is it?

Have you ever looked at your mortgage payment and see how much goes to INTEREST. They make their money. Also, the bank DOES NOT want the home (or any homes) anymore. A short sale is a win for the bank also.

Nice, dude. People like to drone on about shit they don't know more than peripherals about, or dictate how someone else should run their lives.

Cheeks · February 2012

My cousin recently completed a short sale on his house in Nevada because he got a much better job in Oregon. He has a family of five to feed and the extra money from the new job is now helping pay for some huge medical bills from a few years ago when his wife was sick. They are renting a pretty nice house in a nice area—hoping to buy again in a few years.
I very much respect how much thought you are putting into making sure your wife and future family is safe. To me, that is the greater responsibility in this situation.
However, it does make me a think of other families living in unsafe neigbourhoods who just don't have the resources to get themselves a safer place to raise their children—nothing to do with your situation or choices, just a separate thought...

Foreclosure or shortsale? update-My shady lawyer

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