5 step Bailout Plan

[patientrenter]

contraman, clearly you’re irritated by the shenanigans that borrowers engaged in, and the reaction of the “adults”, who are falling over themselves to prevent full punishment for the multitudes who enagaged in the shenanigans.

It is absolutely infuriating when people who were given very valuable and almost free put options on a housing asset now are portrayed as victims, and everyone is throwing money in their direction, pretending that it’s a rescue effort for the larger economy, “to help us all out”. It’s nothing but a selfish bailout for the people who took a risk and lost the bet.

All but the dumbest 1% of buyers, mortgage brokers, investors etc knew in their hearts exactly what was going on, that they were going to get rich if the markets kept going up at unsustainable rates for just a few more years. Now some realize the music has stopped and they lost the bet. And they don’t want to pay. Now they want to have someone else to pick up most of their tab, “in the interests of the greater economy”. And they are getting lots of help. BS.

OK, I’ve had my evening wine and am now finished my emotional rant. Back to figuring out how I can get a decent home of my own without paying an arm and a leg.

Patient renter in OC

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[kewp]

…..make sure you strip that equity again to buy a bunch of consumer goods to stimulate the economy…

Uh, home equity loans are recourse and you will have to pay them back. I bet a bunch of the walkers are going to find that out the hard way…

[kewp]

…..make sure you strip that equity again to buy a bunch of consumer goods to stimulate the economy…

Uh, home equity loans are recourse and you will have to pay them back. I bet a bunch of the walkers are going to find that out the hard way…

[kewp]

…..make sure you strip that equity again to buy a bunch of consumer goods to stimulate the economy…

Uh, home equity loans are recourse and you will have to pay them back. I bet a bunch of the walkers are going to find that out the hard way…

[kewp]

…..make sure you strip that equity again to buy a bunch of consumer goods to stimulate the economy…

Uh, home equity loans are recourse and you will have to pay them back. I bet a bunch of the walkers are going to find that out the hard way…

[kewp]

…..make sure you strip that equity again to buy a bunch of consumer goods to stimulate the economy…

Uh, home equity loans are recourse and you will have to pay them back. I bet a bunch of the walkers are going to find that out the hard way…

[contraman]

Kewp,

Your right. All these banks are going to spend millions more (that they don’t have) on expensive “judicial foreclosures” to try to get judgments against 90% of people who are foreclosing.

Then after this expensive pursuit, they get the judgment against a person who a) can’t pay the judgment b)will most likely Bk out of the judgment.

Kewp, don’t kid yourself. Go read the RE laws online about the process taken by a bank to have to get one of these judgments….it’s all about the money for these banks….it costs too much versus trustee sale….too risky….

I know you don’t like to hear this but it’s the way the cookie crumbles….

Sincerely, Contraman

[contraman]

Kewp,

Your right. All these banks are going to spend millions more (that they don’t have) on expensive “judicial foreclosures” to try to get judgments against 90% of people who are foreclosing.

Then after this expensive pursuit, they get the judgment against a person who a) can’t pay the judgment b)will most likely Bk out of the judgment.

Kewp, don’t kid yourself. Go read the RE laws online about the process taken by a bank to have to get one of these judgments….it’s all about the money for these banks….it costs too much versus trustee sale….too risky….

I know you don’t like to hear this but it’s the way the cookie crumbles….

Sincerely, Contraman

[contraman]

Kewp,

Your right. All these banks are going to spend millions more (that they don’t have) on expensive “judicial foreclosures” to try to get judgments against 90% of people who are foreclosing.

Then after this expensive pursuit, they get the judgment against a person who a) can’t pay the judgment b)will most likely Bk out of the judgment.

Kewp, don’t kid yourself. Go read the RE laws online about the process taken by a bank to have to get one of these judgments….it’s all about the money for these banks….it costs too much versus trustee sale….too risky….

I know you don’t like to hear this but it’s the way the cookie crumbles….

Sincerely, Contraman

[contraman]

Kewp,

Your right. All these banks are going to spend millions more (that they don’t have) on expensive “judicial foreclosures” to try to get judgments against 90% of people who are foreclosing.

Then after this expensive pursuit, they get the judgment against a person who a) can’t pay the judgment b)will most likely Bk out of the judgment.

Kewp, don’t kid yourself. Go read the RE laws online about the process taken by a bank to have to get one of these judgments….it’s all about the money for these banks….it costs too much versus trustee sale….too risky….

I know you don’t like to hear this but it’s the way the cookie crumbles….

Sincerely, Contraman

[Author]

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