1) She is an RE agent, she makes her money facilitating short sales on other peoples houses they couldnt pay for. And she didn’t see any of this coming? BS, it isnt like 2006 was 2003, people knew.
2) She owes the bank more than $630’000 on a house she bought for 192’000. WHERE did the the other 440’000 go? She HELOCd it all out and spent it. Basically she bought a house in 1989, and sold it in 2006 making a 440 thousand dollar profit (close to what it is worth now) got a free 2 year option incase the value went up even more so she could profit even more; PLUS she gets to live there for another 2-3 years with atleast 6 months rent free. Sounds like a hell of a deal to me, too bad the free rent deal is up.
3) She seems to feel no remorse for her actions. The bank will loose tons of money on this, and that is the whole basis of the current financial panic that is sending responsibles peoples savings/retirment down. People like this took huge risks and lost. Now they dont feel they should pay the consequences for their actions. This house needs to be foreclosed on, sold to a new family who wont risk their “castle” and moved on. She blaims the greedy banks, the Federal Government, everyone but herself and her decisions to litterally morgage her families future by taking out BS loans she knew she could not repay.
Seriously, this woman got more than double what she paid for it, plus months if not a year of free rent to help save money. And I am suppose to have so much sympathy for people like this that I want to use my tax dollars to bail her out?????
