Report shows strategic defaults increasing

[SD Realtor]

Sorry Bill I didn’t force anyone to do anything. While I was running an engineering group I also owned a real estate brokerage. I told every client I had that I wouldn’t have bought and they still did. You see, they don’t blame others for their own mistakes.

Bill let me ask you a few questions…

Have you ever bought a car? If so then you knew the minute you drove off the lot the car was instantly worth less then the value of when you bought it. So did you stop making payments on that car? Now answer honestly Bill…

Second, when you bought the home, did you feel that the value would always go up Bill? Did you consider that the value may go down?

Third, Bill did someone force you to sign the loan documents? Were you coerced into signing?

Fourth, Bill do you know of any asset or stock or anything else where the value goes perpetually up all the time and forever?

Fifth, Bill did you stop making payments because of a hardship? Did you lose your job? Did you suffer some medical hardship? Were you defrauded by somebody? Did something happen to you that severely reduced your cash flow? Can you explain exactly why you stopped paying?

Sixth, Bill it is okay you stopped paying. However why didn’t you simply move out? If you said well the asset is depreciating so I am done with it, why didn’t you simply mail in the keys and move out?

So Bill you can call me whatever you want. I can write code, design ASICs, run engineering groups, I can sell real estate, lead teams of investors, and basically do whatever I want. When I make a bad decision financially, I live up to my obligation whether it is selling a property and taking a loss, or selling a stock or doing whatever needs to be done.

You on the other hand can tell us all why you should live for free when the rest of us either pay rent or pay a mortgage. You can hand over your keys and move out, but you choose not to. Why you do this, I don’t know? More then likely you feel entitled to live for free. You feel like you have given the bank all this money. That it is the banks fault, that it is the real estate industry’s fault. Right Bill? It is definitely someone elses fault that you signed the loan docs, so you Bill should get to live for free correct?

I am listening. Just give me a good reason why you should live for free? Why should any of us pay our mortgage? We all have suffered depreciation as well. See, if you wanna walk on your loan walk on your loan, no harm done, mail in the keys and go rent an apartment.

[scaredyclassic]

but there is no goddamn point to not moving out; theya re letting the houses SIT VACANT in many cases. if there weren’t anyone in there, the place would just be abandonned!!!!

what a crock.

nobody’s freeloading.

the bank shuld be paying these people like Bill to hang around and keep an eye on the place!!!

[scaredyclassic]

but there is no goddamn point to not moving out; theya re letting the houses SIT VACANT in many cases. if there weren’t anyone in there, the place would just be abandonned!!!!

what a crock.

nobody’s freeloading.

the bank shuld be paying these people like Bill to hang around and keep an eye on the place!!!

[scaredyclassic]

but there is no goddamn point to not moving out; theya re letting the houses SIT VACANT in many cases. if there weren’t anyone in there, the place would just be abandonned!!!!

what a crock.

nobody’s freeloading.

the bank shuld be paying these people like Bill to hang around and keep an eye on the place!!!

[scaredyclassic]

but there is no goddamn point to not moving out; theya re letting the houses SIT VACANT in many cases. if there weren’t anyone in there, the place would just be abandonned!!!!

what a crock.

nobody’s freeloading.

the bank shuld be paying these people like Bill to hang around and keep an eye on the place!!!

[scaredyclassic]

but there is no goddamn point to not moving out; theya re letting the houses SIT VACANT in many cases. if there weren’t anyone in there, the place would just be abandonned!!!!

what a crock.

nobody’s freeloading.

the bank shuld be paying these people like Bill to hang around and keep an eye on the place!!!

[Anonymous]

You’ve made some poor assumptions and math is not your friend, but I’ll humour you.[quote=flu]Don’t get all worked up this one. I call B.S. on this one. Let’s do some analysis

$114k salary.[/quote]You got one right

[quote=flu]Supposedly had $57k to put down, ended up putting down $11.7k[/quote]I had saved up over $75k by the beginning of 07 without touching my IRA OR 401K. And 3% of $570K is $17,100.

[quote=flu]20 months of non-rent paying, are we to believe that now all the sudden you ahave $200k post-tax to put down?[/quote]You missed the part where I said “With all the money I’ve saved AND MADE IN THE MARKET”. I was talking about the stock market and commodities futures markets. I did very well in the last 2 years. I could sell all my long term investments without touching my IRA and 401K and have over $250k in cash after paying long term capital gains taxes.

My biggest monthly expense is direct TV.

[Anonymous]

You’ve made some poor assumptions and math is not your friend, but I’ll humour you.[quote=flu]Don’t get all worked up this one. I call B.S. on this one. Let’s do some analysis

$114k salary.[/quote]You got one right

[quote=flu]Supposedly had $57k to put down, ended up putting down $11.7k[/quote]I had saved up over $75k by the beginning of 07 without touching my IRA OR 401K. And 3% of $570K is $17,100.

[quote=flu]20 months of non-rent paying, are we to believe that now all the sudden you ahave $200k post-tax to put down?[/quote]You missed the part where I said “With all the money I’ve saved AND MADE IN THE MARKET”. I was talking about the stock market and commodities futures markets. I did very well in the last 2 years. I could sell all my long term investments without touching my IRA and 401K and have over $250k in cash after paying long term capital gains taxes.

My biggest monthly expense is direct TV.

[Anonymous]

You’ve made some poor assumptions and math is not your friend, but I’ll humour you.[quote=flu]Don’t get all worked up this one. I call B.S. on this one. Let’s do some analysis

$114k salary.[/quote]You got one right

[quote=flu]Supposedly had $57k to put down, ended up putting down $11.7k[/quote]I had saved up over $75k by the beginning of 07 without touching my IRA OR 401K. And 3% of $570K is $17,100.

[quote=flu]20 months of non-rent paying, are we to believe that now all the sudden you ahave $200k post-tax to put down?[/quote]You missed the part where I said “With all the money I’ve saved AND MADE IN THE MARKET”. I was talking about the stock market and commodities futures markets. I did very well in the last 2 years. I could sell all my long term investments without touching my IRA and 401K and have over $250k in cash after paying long term capital gains taxes.

My biggest monthly expense is direct TV.

[Anonymous]

You’ve made some poor assumptions and math is not your friend, but I’ll humour you.[quote=flu]Don’t get all worked up this one. I call B.S. on this one. Let’s do some analysis

$114k salary.[/quote]You got one right

[quote=flu]Supposedly had $57k to put down, ended up putting down $11.7k[/quote]I had saved up over $75k by the beginning of 07 without touching my IRA OR 401K. And 3% of $570K is $17,100.

[quote=flu]20 months of non-rent paying, are we to believe that now all the sudden you ahave $200k post-tax to put down?[/quote]You missed the part where I said “With all the money I’ve saved AND MADE IN THE MARKET”. I was talking about the stock market and commodities futures markets. I did very well in the last 2 years. I could sell all my long term investments without touching my IRA and 401K and have over $250k in cash after paying long term capital gains taxes.

My biggest monthly expense is direct TV.

[Anonymous]

You’ve made some poor assumptions and math is not your friend, but I’ll humour you.[quote=flu]Don’t get all worked up this one. I call B.S. on this one. Let’s do some analysis

$114k salary.[/quote]You got one right

[quote=flu]Supposedly had $57k to put down, ended up putting down $11.7k[/quote]I had saved up over $75k by the beginning of 07 without touching my IRA OR 401K. And 3% of $570K is $17,100.

[quote=flu]20 months of non-rent paying, are we to believe that now all the sudden you ahave $200k post-tax to put down?[/quote]You missed the part where I said “With all the money I’ve saved AND MADE IN THE MARKET”. I was talking about the stock market and commodities futures markets. I did very well in the last 2 years. I could sell all my long term investments without touching my IRA and 401K and have over $250k in cash after paying long term capital gains taxes.

My biggest monthly expense is direct TV.

[Anonymous]

[quote=cabal]If you don’t mind further sharing…

– Have you received pestering calls from bill collectors?

– What has happened to your credit score?

– Who is your lender?

– Are you current on property taxes?

– Are you concerned about qualifying for another mortgage?

FYI – I don’t agree with everything SD R says, but his comments are usually well balanced, measured, and insightful. He adds a lot of value to this board.[/quote] – I had a lot of calls in the first few months and that was when I thought a NOD would be sent out, then almost nothing for a while, more calls again last summer/fall and then nothing again.

– My FICO has dropped slightly but that’s due to canceling some credit cards. I’m still in the high 700’s.

– I’m not mentioning my lender, I don’t need bitter crazies from here trying to track me down.

– I think so, you’d have to ask my lender. My property taxes are included in the monthly payment. If they weren’t being paid it seems like the county would have taken the property by now.

– I’m not at all concerned, just want this taken care of by the end of next year. I’m thinking of taking a year to travel around the world or maybe join a band and go on tour one last time.

[Anonymous]

[quote=cabal]If you don’t mind further sharing…

– Have you received pestering calls from bill collectors?

– What has happened to your credit score?

– Who is your lender?

– Are you current on property taxes?

– Are you concerned about qualifying for another mortgage?

FYI – I don’t agree with everything SD R says, but his comments are usually well balanced, measured, and insightful. He adds a lot of value to this board.[/quote] – I had a lot of calls in the first few months and that was when I thought a NOD would be sent out, then almost nothing for a while, more calls again last summer/fall and then nothing again.

– My FICO has dropped slightly but that’s due to canceling some credit cards. I’m still in the high 700’s.

– I’m not mentioning my lender, I don’t need bitter crazies from here trying to track me down.

– I think so, you’d have to ask my lender. My property taxes are included in the monthly payment. If they weren’t being paid it seems like the county would have taken the property by now.

– I’m not at all concerned, just want this taken care of by the end of next year. I’m thinking of taking a year to travel around the world or maybe join a band and go on tour one last time.

[Anonymous]

[quote=cabal]If you don’t mind further sharing…

– Have you received pestering calls from bill collectors?

– What has happened to your credit score?

– Who is your lender?

– Are you current on property taxes?

– Are you concerned about qualifying for another mortgage?

FYI – I don’t agree with everything SD R says, but his comments are usually well balanced, measured, and insightful. He adds a lot of value to this board.[/quote] – I had a lot of calls in the first few months and that was when I thought a NOD would be sent out, then almost nothing for a while, more calls again last summer/fall and then nothing again.

– My FICO has dropped slightly but that’s due to canceling some credit cards. I’m still in the high 700’s.

– I’m not mentioning my lender, I don’t need bitter crazies from here trying to track me down.

– I think so, you’d have to ask my lender. My property taxes are included in the monthly payment. If they weren’t being paid it seems like the county would have taken the property by now.

– I’m not at all concerned, just want this taken care of by the end of next year. I’m thinking of taking a year to travel around the world or maybe join a band and go on tour one last time.

[Anonymous]

[quote=cabal]If you don’t mind further sharing…

– Have you received pestering calls from bill collectors?

– What has happened to your credit score?

– Who is your lender?

– Are you current on property taxes?

– Are you concerned about qualifying for another mortgage?

FYI – I don’t agree with everything SD R says, but his comments are usually well balanced, measured, and insightful. He adds a lot of value to this board.[/quote] – I had a lot of calls in the first few months and that was when I thought a NOD would be sent out, then almost nothing for a while, more calls again last summer/fall and then nothing again.

– My FICO has dropped slightly but that’s due to canceling some credit cards. I’m still in the high 700’s.

– I’m not mentioning my lender, I don’t need bitter crazies from here trying to track me down.

– I think so, you’d have to ask my lender. My property taxes are included in the monthly payment. If they weren’t being paid it seems like the county would have taken the property by now.

– I’m not at all concerned, just want this taken care of by the end of next year. I’m thinking of taking a year to travel around the world or maybe join a band and go on tour one last time.

[Author]

Posts