OT: Explosives in Escondido

[bearishgurl]

[quote=ybitz]Is it still recourse loan if he didn’t cash out during the refi?[/quote]

Yes, both the 1st and 2nd.

[sdrealtor]

Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.

[sdrealtor]

Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.

[sdrealtor]

Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.

[sdrealtor]

Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.

[sdrealtor]

Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.

[bearishgurl]

[quote=sdrealtor]Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.[/quote]

I understand this, but neither of the outstanding loans are “purchase money” and there has been no mention of this homeowner being in default. Apparently not YET, anyway!

Hopefully, for allowing the authorities to blow the house up, (s)he was compensated AT LEAST enough to retire his/her encumbrance(s) in exchange for a grant deed.

It will be interesting to see how this wraps up.

[bearishgurl]

[quote=sdrealtor]Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.[/quote]

I understand this, but neither of the outstanding loans are “purchase money” and there has been no mention of this homeowner being in default. Apparently not YET, anyway!

Hopefully, for allowing the authorities to blow the house up, (s)he was compensated AT LEAST enough to retire his/her encumbrance(s) in exchange for a grant deed.

It will be interesting to see how this wraps up.

[bearishgurl]

[quote=sdrealtor]Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.[/quote]

I understand this, but neither of the outstanding loans are “purchase money” and there has been no mention of this homeowner being in default. Apparently not YET, anyway!

Hopefully, for allowing the authorities to blow the house up, (s)he was compensated AT LEAST enough to retire his/her encumbrance(s) in exchange for a grant deed.

It will be interesting to see how this wraps up.

[bearishgurl]

[quote=sdrealtor]Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.[/quote]

I understand this, but neither of the outstanding loans are “purchase money” and there has been no mention of this homeowner being in default. Apparently not YET, anyway!

Hopefully, for allowing the authorities to blow the house up, (s)he was compensated AT LEAST enough to retire his/her encumbrance(s) in exchange for a grant deed.

It will be interesting to see how this wraps up.

[bearishgurl]

[quote=sdrealtor]Effectively only the 2nd is recourse. The only way they get any remedy is to foreclose. When they foreclose they give up their right to recourse (via 580b aka The One Action Rule) so only the 12% loan on the 2nd is really a concern.[/quote]

I understand this, but neither of the outstanding loans are “purchase money” and there has been no mention of this homeowner being in default. Apparently not YET, anyway!

Hopefully, for allowing the authorities to blow the house up, (s)he was compensated AT LEAST enough to retire his/her encumbrance(s) in exchange for a grant deed.

It will be interesting to see how this wraps up.

[temeculaguy]

[quote=Eugene] Look at it this way. He is now an owner of half an acre of nearly worthless land adjacent to the 15 freeway[/quote]

I thought that quote from Eugene was funny considering I read an article about the air quality a few days ago. So if anyone looked at a map of the property, it literally backs up to the freeway, you can see it from the freeway, you could probably throw a baseball onto the freeway from the yard. So just before they burn it down, they place hundreds of air quality sensors in the immediate area, take readings before, during and after. During morning rush hour the air quality near the house was worse than when it was fully ablaze, because they shut the freeway down before and during the blaze so the freeway pollution was subtracted from the air and the burning bomb factory was added.

At one time, many years ago, I lived rock throwing distance from the 5 (at eye level as well), and I was always coughing despite living within walking distance to the beach. Little did I know that living a hundred feet from the freeway is worse than than living next to a burning bomb factory. At least the bomb factory burning doesn’t happen twice a day on weekdays.

On a side note, let it be a lesson to landlords and future landlords, who many on the boards are or aspire to be. Routinely inspect you property. When I rented, my landlords always did. I saw pictures in the paper and it looked like it had been a while since that place had been inspected if it ever had been.

Ask any successful landlord, there is much more to it than just collecting rent.

[temeculaguy]

[quote=Eugene] Look at it this way. He is now an owner of half an acre of nearly worthless land adjacent to the 15 freeway[/quote]

I thought that quote from Eugene was funny considering I read an article about the air quality a few days ago. So if anyone looked at a map of the property, it literally backs up to the freeway, you can see it from the freeway, you could probably throw a baseball onto the freeway from the yard. So just before they burn it down, they place hundreds of air quality sensors in the immediate area, take readings before, during and after. During morning rush hour the air quality near the house was worse than when it was fully ablaze, because they shut the freeway down before and during the blaze so the freeway pollution was subtracted from the air and the burning bomb factory was added.

At one time, many years ago, I lived rock throwing distance from the 5 (at eye level as well), and I was always coughing despite living within walking distance to the beach. Little did I know that living a hundred feet from the freeway is worse than than living next to a burning bomb factory. At least the bomb factory burning doesn’t happen twice a day on weekdays.

On a side note, let it be a lesson to landlords and future landlords, who many on the boards are or aspire to be. Routinely inspect you property. When I rented, my landlords always did. I saw pictures in the paper and it looked like it had been a while since that place had been inspected if it ever had been.

Ask any successful landlord, there is much more to it than just collecting rent.

[temeculaguy]

[quote=Eugene] Look at it this way. He is now an owner of half an acre of nearly worthless land adjacent to the 15 freeway[/quote]

I thought that quote from Eugene was funny considering I read an article about the air quality a few days ago. So if anyone looked at a map of the property, it literally backs up to the freeway, you can see it from the freeway, you could probably throw a baseball onto the freeway from the yard. So just before they burn it down, they place hundreds of air quality sensors in the immediate area, take readings before, during and after. During morning rush hour the air quality near the house was worse than when it was fully ablaze, because they shut the freeway down before and during the blaze so the freeway pollution was subtracted from the air and the burning bomb factory was added.

At one time, many years ago, I lived rock throwing distance from the 5 (at eye level as well), and I was always coughing despite living within walking distance to the beach. Little did I know that living a hundred feet from the freeway is worse than than living next to a burning bomb factory. At least the bomb factory burning doesn’t happen twice a day on weekdays.

On a side note, let it be a lesson to landlords and future landlords, who many on the boards are or aspire to be. Routinely inspect you property. When I rented, my landlords always did. I saw pictures in the paper and it looked like it had been a while since that place had been inspected if it ever had been.

Ask any successful landlord, there is much more to it than just collecting rent.

[temeculaguy]

[quote=Eugene] Look at it this way. He is now an owner of half an acre of nearly worthless land adjacent to the 15 freeway[/quote]

I thought that quote from Eugene was funny considering I read an article about the air quality a few days ago. So if anyone looked at a map of the property, it literally backs up to the freeway, you can see it from the freeway, you could probably throw a baseball onto the freeway from the yard. So just before they burn it down, they place hundreds of air quality sensors in the immediate area, take readings before, during and after. During morning rush hour the air quality near the house was worse than when it was fully ablaze, because they shut the freeway down before and during the blaze so the freeway pollution was subtracted from the air and the burning bomb factory was added.

At one time, many years ago, I lived rock throwing distance from the 5 (at eye level as well), and I was always coughing despite living within walking distance to the beach. Little did I know that living a hundred feet from the freeway is worse than than living next to a burning bomb factory. At least the bomb factory burning doesn’t happen twice a day on weekdays.

On a side note, let it be a lesson to landlords and future landlords, who many on the boards are or aspire to be. Routinely inspect you property. When I rented, my landlords always did. I saw pictures in the paper and it looked like it had been a while since that place had been inspected if it ever had been.

Ask any successful landlord, there is much more to it than just collecting rent.

[Author]

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