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

[briansd1]

[quote=flu]Stocks, I’d like to see you try this and see what the issues are moving forward..

Is that free rent and crap credit worth it?.If so, I’ll sell you my bay area home at an inflated price above FMV. It’s a 4 bed/2 bath 1 story home. I’ll sell it to you just north of $950k[/quote]

Stocktradr, be sure to get flu to give you a cash rebate outside of escrow.

[Werewolf]

I know a person who bought a SFR he can’t afford with this logic in mind.

In his own words ‘If I can’t get the principal reduction / loan mod; I will simply drag it out and live rent-free for 2 years.’

[Werewolf]

I know a person who bought a SFR he can’t afford with this logic in mind.

In his own words ‘If I can’t get the principal reduction / loan mod; I will simply drag it out and live rent-free for 2 years.’

[Werewolf]

I know a person who bought a SFR he can’t afford with this logic in mind.

In his own words ‘If I can’t get the principal reduction / loan mod; I will simply drag it out and live rent-free for 2 years.’

[Werewolf]

I know a person who bought a SFR he can’t afford with this logic in mind.

In his own words ‘If I can’t get the principal reduction / loan mod; I will simply drag it out and live rent-free for 2 years.’

[Werewolf]

I know a person who bought a SFR he can’t afford with this logic in mind.

In his own words ‘If I can’t get the principal reduction / loan mod; I will simply drag it out and live rent-free for 2 years.’

[andymajumder]

I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.

[andymajumder]

I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.

[andymajumder]

I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.

[andymajumder]

I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.

[andymajumder]

I was thinking exactly along similar lines after reading Flu’s proposal 🙂

Think about it, this was quite easily doable during the bubble years when appraisal process was completely messed up….buy your friend’s house at a over inflated price, get a kickback and than default on the non-recourse loan.

[Coronita]

Stocks, I’m sorry, but I’m pretty sure you’re full of it on this one. While I don’t doubt if you were single, you might be willing to do this, but I’m pretty sure your spouse won’t let you, unless she’s anything but traditional…

Besides, we’re really not talking a crapload of money here 2-3 years of free rent. The 4/2 rents for about $2700/month… So for argument sake, let’s just say rent is comparable to mortgage payments ( I know they aren’t in the bay area)…You’ll talking about fvcking your credit over $65k roughly. Sorry, that ain’t worth it.

[Coronita]

Stocks, I’m sorry, but I’m pretty sure you’re full of it on this one. While I don’t doubt if you were single, you might be willing to do this, but I’m pretty sure your spouse won’t let you, unless she’s anything but traditional…

Besides, we’re really not talking a crapload of money here 2-3 years of free rent. The 4/2 rents for about $2700/month… So for argument sake, let’s just say rent is comparable to mortgage payments ( I know they aren’t in the bay area)…You’ll talking about fvcking your credit over $65k roughly. Sorry, that ain’t worth it.

[Coronita]

Stocks, I’m sorry, but I’m pretty sure you’re full of it on this one. While I don’t doubt if you were single, you might be willing to do this, but I’m pretty sure your spouse won’t let you, unless she’s anything but traditional…

Besides, we’re really not talking a crapload of money here 2-3 years of free rent. The 4/2 rents for about $2700/month… So for argument sake, let’s just say rent is comparable to mortgage payments ( I know they aren’t in the bay area)…You’ll talking about fvcking your credit over $65k roughly. Sorry, that ain’t worth it.

[Coronita]

Stocks, I’m sorry, but I’m pretty sure you’re full of it on this one. While I don’t doubt if you were single, you might be willing to do this, but I’m pretty sure your spouse won’t let you, unless she’s anything but traditional…

Besides, we’re really not talking a crapload of money here 2-3 years of free rent. The 4/2 rents for about $2700/month… So for argument sake, let’s just say rent is comparable to mortgage payments ( I know they aren’t in the bay area)…You’ll talking about fvcking your credit over $65k roughly. Sorry, that ain’t worth it.

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