is the new Smart Move to BUY a home for strategic default?

[stockstradr]

“I just say, he should get new friends 🙂 ”

Even my sister is one of them. I’m not going to stop speaking to my own sister based on her financial choices.

She stopped paying mortgage, car payments, and credit card debit. Living rent-free in her SFH for 1.5 years now. Lives on unemployment, welfare and food stamps, health care paid for by the state, plus charging things on her credit cards that she doesn’t make payments on.

I thought to myself: “maybe i’m the foolish one. I’m WORKING for a living. She’s the friggin’ smart one!”

[urbanrealtor]

[quote=CA renter][quote=Scarlett]CA R, you and I should get together for a drink… I totally feel and share your frustrations.[/quote]

jpinpb and I were saying this on another thread…it’s time for another get-together!

At least there’s one good thing to come of this mess — meeting great people from these blogs. :)[/quote]

I like JP.
She is smart and purty.

Anyhoo, I have had this conversation with like 10 of my short sale clients.

Most just opt to rent the place out and be up front with the tenants (there is no real downside for the tenants) and put the deposit in a broker trust (usually mine).
The tenants are stoked at usually a cheap rent (without the deposit at risk) and the landlords are stoked at getting money without paying mortgage.

And in case you are wondering, this does not qualify as skimming as long as the landlord has title and has had title for at least one year.

In all fairness, it kinda sucks for the banks but they put themselves in this position.

They are the only ones acting irrationally as they delay short sales.

[urbanrealtor]

[quote=CA renter][quote=Scarlett]CA R, you and I should get together for a drink… I totally feel and share your frustrations.[/quote]

jpinpb and I were saying this on another thread…it’s time for another get-together!

At least there’s one good thing to come of this mess — meeting great people from these blogs. :)[/quote]

I like JP.
She is smart and purty.

Anyhoo, I have had this conversation with like 10 of my short sale clients.

Most just opt to rent the place out and be up front with the tenants (there is no real downside for the tenants) and put the deposit in a broker trust (usually mine).
The tenants are stoked at usually a cheap rent (without the deposit at risk) and the landlords are stoked at getting money without paying mortgage.

And in case you are wondering, this does not qualify as skimming as long as the landlord has title and has had title for at least one year.

In all fairness, it kinda sucks for the banks but they put themselves in this position.

They are the only ones acting irrationally as they delay short sales.

[urbanrealtor]

[quote=CA renter][quote=Scarlett]CA R, you and I should get together for a drink… I totally feel and share your frustrations.[/quote]

jpinpb and I were saying this on another thread…it’s time for another get-together!

At least there’s one good thing to come of this mess — meeting great people from these blogs. :)[/quote]

I like JP.
She is smart and purty.

Anyhoo, I have had this conversation with like 10 of my short sale clients.

Most just opt to rent the place out and be up front with the tenants (there is no real downside for the tenants) and put the deposit in a broker trust (usually mine).
The tenants are stoked at usually a cheap rent (without the deposit at risk) and the landlords are stoked at getting money without paying mortgage.

And in case you are wondering, this does not qualify as skimming as long as the landlord has title and has had title for at least one year.

In all fairness, it kinda sucks for the banks but they put themselves in this position.

They are the only ones acting irrationally as they delay short sales.

[urbanrealtor]

[quote=CA renter][quote=Scarlett]CA R, you and I should get together for a drink… I totally feel and share your frustrations.[/quote]

jpinpb and I were saying this on another thread…it’s time for another get-together!

At least there’s one good thing to come of this mess — meeting great people from these blogs. :)[/quote]

I like JP.
She is smart and purty.

Anyhoo, I have had this conversation with like 10 of my short sale clients.

Most just opt to rent the place out and be up front with the tenants (there is no real downside for the tenants) and put the deposit in a broker trust (usually mine).
The tenants are stoked at usually a cheap rent (without the deposit at risk) and the landlords are stoked at getting money without paying mortgage.

And in case you are wondering, this does not qualify as skimming as long as the landlord has title and has had title for at least one year.

In all fairness, it kinda sucks for the banks but they put themselves in this position.

They are the only ones acting irrationally as they delay short sales.

[urbanrealtor]

[quote=CA renter][quote=Scarlett]CA R, you and I should get together for a drink… I totally feel and share your frustrations.[/quote]

jpinpb and I were saying this on another thread…it’s time for another get-together!

At least there’s one good thing to come of this mess — meeting great people from these blogs. :)[/quote]

I like JP.
She is smart and purty.

Anyhoo, I have had this conversation with like 10 of my short sale clients.

Most just opt to rent the place out and be up front with the tenants (there is no real downside for the tenants) and put the deposit in a broker trust (usually mine).
The tenants are stoked at usually a cheap rent (without the deposit at risk) and the landlords are stoked at getting money without paying mortgage.

And in case you are wondering, this does not qualify as skimming as long as the landlord has title and has had title for at least one year.

In all fairness, it kinda sucks for the banks but they put themselves in this position.

They are the only ones acting irrationally as they delay short sales.

[jpinpb]

[quote=urbanrealtor]
I like JP.
She is smart and purty.
[/quote]

I like UR. Funny, too. Still holding open houses in school girl outfits?

[quote=urbanrealtor]They are the only ones acting irrationally as they delay short sales.[/quote]

Agree w/this. They are definitely setting the situation up.

[jpinpb]

[quote=urbanrealtor]
I like JP.
She is smart and purty.
[/quote]

I like UR. Funny, too. Still holding open houses in school girl outfits?

[quote=urbanrealtor]They are the only ones acting irrationally as they delay short sales.[/quote]

Agree w/this. They are definitely setting the situation up.

[jpinpb]

[quote=urbanrealtor]
I like JP.
She is smart and purty.
[/quote]

I like UR. Funny, too. Still holding open houses in school girl outfits?

[quote=urbanrealtor]They are the only ones acting irrationally as they delay short sales.[/quote]

Agree w/this. They are definitely setting the situation up.

[jpinpb]

[quote=urbanrealtor]
I like JP.
She is smart and purty.
[/quote]

I like UR. Funny, too. Still holding open houses in school girl outfits?

[quote=urbanrealtor]They are the only ones acting irrationally as they delay short sales.[/quote]

Agree w/this. They are definitely setting the situation up.

[jpinpb]

[quote=urbanrealtor]
I like JP.
She is smart and purty.
[/quote]

I like UR. Funny, too. Still holding open houses in school girl outfits?

[quote=urbanrealtor]They are the only ones acting irrationally as they delay short sales.[/quote]

Agree w/this. They are definitely setting the situation up.

[jpinpb]

[quote=CA renter]
I used to believe there were “strict appraisals,” but have seen enough flips lately that negate that theory. I’ve seen flippers make $100K-$150K in a couple of months with maybe $20K in “improvements.” If appraisers are valuing the **same house** $100K+ more than the what it sold for just a few months ago, the whole system is broken.
[/quote]

Here you go. I just came across this and thought of your post:
3929 Texas

Sold 05/18/2010 for $385,000

Flip price 590k.

WTF!!!!

Where are my crazy pills?

[jpinpb]

[quote=CA renter]
I used to believe there were “strict appraisals,” but have seen enough flips lately that negate that theory. I’ve seen flippers make $100K-$150K in a couple of months with maybe $20K in “improvements.” If appraisers are valuing the **same house** $100K+ more than the what it sold for just a few months ago, the whole system is broken.
[/quote]

Here you go. I just came across this and thought of your post:
3929 Texas

Sold 05/18/2010 for $385,000

Flip price 590k.

WTF!!!!

Where are my crazy pills?

[jpinpb]

[quote=CA renter]
I used to believe there were “strict appraisals,” but have seen enough flips lately that negate that theory. I’ve seen flippers make $100K-$150K in a couple of months with maybe $20K in “improvements.” If appraisers are valuing the **same house** $100K+ more than the what it sold for just a few months ago, the whole system is broken.
[/quote]

Here you go. I just came across this and thought of your post:
3929 Texas

Sold 05/18/2010 for $385,000

Flip price 590k.

WTF!!!!

Where are my crazy pills?

[jpinpb]

[quote=CA renter]
I used to believe there were “strict appraisals,” but have seen enough flips lately that negate that theory. I’ve seen flippers make $100K-$150K in a couple of months with maybe $20K in “improvements.” If appraisers are valuing the **same house** $100K+ more than the what it sold for just a few months ago, the whole system is broken.
[/quote]

Here you go. I just came across this and thought of your post:
3929 Texas

Sold 05/18/2010 for $385,000

Flip price 590k.

WTF!!!!

Where are my crazy pills?

[Author]

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