Free bank living – the HELOC replacement

[briansd1]

You were right jpinpb. Without the money not paid to the banks but spend by delinquent homeowners, the economy would be in worse shape.

I think that being $50,000 underwater it the tipping point that make homeowners want to walk.

[scaredyclassic]

“About 10 new clients a week sign up, according to Mr. Stopa, who says he now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case,” Mr. Stopa said.”

there’s so many foreclosure scam operators, and they’re prosecuting some attys in california, but it sure looks like a legit attorney can make some decent cash defending foreclosures. 15,000 in retainers a week, $250 an hour sending out letters, looking over some docs, responding to lawsuits…… Just can’t grow so big that you neglect people. Probably 400-500 open files is about right…not bad….

[scaredyclassic]

“About 10 new clients a week sign up, according to Mr. Stopa, who says he now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case,” Mr. Stopa said.”

there’s so many foreclosure scam operators, and they’re prosecuting some attys in california, but it sure looks like a legit attorney can make some decent cash defending foreclosures. 15,000 in retainers a week, $250 an hour sending out letters, looking over some docs, responding to lawsuits…… Just can’t grow so big that you neglect people. Probably 400-500 open files is about right…not bad….

[scaredyclassic]

“About 10 new clients a week sign up, according to Mr. Stopa, who says he now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case,” Mr. Stopa said.”

there’s so many foreclosure scam operators, and they’re prosecuting some attys in california, but it sure looks like a legit attorney can make some decent cash defending foreclosures. 15,000 in retainers a week, $250 an hour sending out letters, looking over some docs, responding to lawsuits…… Just can’t grow so big that you neglect people. Probably 400-500 open files is about right…not bad….

[scaredyclassic]

“About 10 new clients a week sign up, according to Mr. Stopa, who says he now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case,” Mr. Stopa said.”

there’s so many foreclosure scam operators, and they’re prosecuting some attys in california, but it sure looks like a legit attorney can make some decent cash defending foreclosures. 15,000 in retainers a week, $250 an hour sending out letters, looking over some docs, responding to lawsuits…… Just can’t grow so big that you neglect people. Probably 400-500 open files is about right…not bad….

[scaredyclassic]

“About 10 new clients a week sign up, according to Mr. Stopa, who says he now has 350 clients in foreclosure, each of whom pays $1,500 a year for a maximum of six hours of attorney time. “I just do as much as needs to be done to force the bank to prove its case,” Mr. Stopa said.”

there’s so many foreclosure scam operators, and they’re prosecuting some attys in california, but it sure looks like a legit attorney can make some decent cash defending foreclosures. 15,000 in retainers a week, $250 an hour sending out letters, looking over some docs, responding to lawsuits…… Just can’t grow so big that you neglect people. Probably 400-500 open files is about right…not bad….

[jpinpb]

[quote=briansd1]
I think that being $50,000 underwater it the tipping point that make homeowners want to walk.[/quote]

I think depending on property and location, I can see people holding on if they were 50k underwater. You know, if you were in a condo conversion and you were 50k under, then yes, I can see them walking. If you were in a SFH in a desired area, I can see people clinging if only 50k upside-down.

But at a certain point, the tendency is to stop paying. That is the trend. Sheeple lined up to buy w/no money down and then take HELOCs. They seem to be doing the same again. Whatever it takes, they have a “lifestyle” to maintain.

This behavior is basically being encouraged.

[jpinpb]

[quote=briansd1]
I think that being $50,000 underwater it the tipping point that make homeowners want to walk.[/quote]

I think depending on property and location, I can see people holding on if they were 50k underwater. You know, if you were in a condo conversion and you were 50k under, then yes, I can see them walking. If you were in a SFH in a desired area, I can see people clinging if only 50k upside-down.

But at a certain point, the tendency is to stop paying. That is the trend. Sheeple lined up to buy w/no money down and then take HELOCs. They seem to be doing the same again. Whatever it takes, they have a “lifestyle” to maintain.

This behavior is basically being encouraged.

[jpinpb]

[quote=briansd1]
I think that being $50,000 underwater it the tipping point that make homeowners want to walk.[/quote]

I think depending on property and location, I can see people holding on if they were 50k underwater. You know, if you were in a condo conversion and you were 50k under, then yes, I can see them walking. If you were in a SFH in a desired area, I can see people clinging if only 50k upside-down.

But at a certain point, the tendency is to stop paying. That is the trend. Sheeple lined up to buy w/no money down and then take HELOCs. They seem to be doing the same again. Whatever it takes, they have a “lifestyle” to maintain.

This behavior is basically being encouraged.

[jpinpb]

[quote=briansd1]
I think that being $50,000 underwater it the tipping point that make homeowners want to walk.[/quote]

I think depending on property and location, I can see people holding on if they were 50k underwater. You know, if you were in a condo conversion and you were 50k under, then yes, I can see them walking. If you were in a SFH in a desired area, I can see people clinging if only 50k upside-down.

But at a certain point, the tendency is to stop paying. That is the trend. Sheeple lined up to buy w/no money down and then take HELOCs. They seem to be doing the same again. Whatever it takes, they have a “lifestyle” to maintain.

This behavior is basically being encouraged.

[jpinpb]

[quote=briansd1]
I think that being $50,000 underwater it the tipping point that make homeowners want to walk.[/quote]

I think depending on property and location, I can see people holding on if they were 50k underwater. You know, if you were in a condo conversion and you were 50k under, then yes, I can see them walking. If you were in a SFH in a desired area, I can see people clinging if only 50k upside-down.

But at a certain point, the tendency is to stop paying. That is the trend. Sheeple lined up to buy w/no money down and then take HELOCs. They seem to be doing the same again. Whatever it takes, they have a “lifestyle” to maintain.

This behavior is basically being encouraged.

[briansd1]

jpinpb, San Diego is a high-priced market.

In most of the country $50,000 is a lot of money. I meant $50,000 underwater for the “average” American, if there’s such a person.

We need to encourage people to consume to keep the wheels of commerce turning.

[briansd1]

jpinpb, San Diego is a high-priced market.

In most of the country $50,000 is a lot of money. I meant $50,000 underwater for the “average” American, if there’s such a person.

We need to encourage people to consume to keep the wheels of commerce turning.

[briansd1]

jpinpb, San Diego is a high-priced market.

In most of the country $50,000 is a lot of money. I meant $50,000 underwater for the “average” American, if there’s such a person.

We need to encourage people to consume to keep the wheels of commerce turning.

[briansd1]

jpinpb, San Diego is a high-priced market.

In most of the country $50,000 is a lot of money. I meant $50,000 underwater for the “average” American, if there’s such a person.

We need to encourage people to consume to keep the wheels of commerce turning.

[Author]

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