- This topic has 48 replies, 11 voices, and was last updated 17 years, 4 months ago by
mixxalot.
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August 23, 2007 at 2:13 PM #79933August 23, 2007 at 2:24 PM #80073
kewp
Participantwouldn’t they have to hide those 100’s of thousands in cash really well if they planed on turning in the keys?
Yeah, this doesn’t pass the smell test.
Those that did cash out either moved out of state or are renting now, so they aren’t at risk of foreclosure. The most likely scenario for the other people is that they turned the equity into either more SD RE (and will watch it vanish) or bought stuff (will watch it repo’ed).
August 23, 2007 at 2:24 PM #80095Participantwouldn’t they have to hide those 100’s of thousands in cash really well if they planed on turning in the keys?
Yeah, this doesn’t pass the smell test.
Those that did cash out either moved out of state or are renting now, so they aren’t at risk of foreclosure. The most likely scenario for the other people is that they turned the equity into either more SD RE (and will watch it vanish) or bought stuff (will watch it repo’ed).
August 23, 2007 at 2:24 PM #79945Participantwouldn’t they have to hide those 100’s of thousands in cash really well if they planed on turning in the keys?
Yeah, this doesn’t pass the smell test.
Those that did cash out either moved out of state or are renting now, so they aren’t at risk of foreclosure. The most likely scenario for the other people is that they turned the equity into either more SD RE (and will watch it vanish) or bought stuff (will watch it repo’ed).
August 23, 2007 at 2:41 PM #80101SHILOH
ParticipantThey would either have to be sitting on a lot of cash in their couches or transferred it to foreign banks – in other words..hide it.
August 23, 2007 at 2:41 PM #80079ParticipantThey would either have to be sitting on a lot of cash in their couches or transferred it to foreign banks – in other words..hide it.
August 23, 2007 at 2:41 PM #79951ParticipantThey would either have to be sitting on a lot of cash in their couches or transferred it to foreign banks – in other words..hide it.
August 23, 2007 at 2:45 PM #80107GoUSC
ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
August 23, 2007 at 2:45 PM #79957ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
August 23, 2007 at 2:45 PM #80085ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
August 23, 2007 at 2:47 PM #80110ParticipantWell- let’s say some of them did transfer the money to a Swiss bank. Our government is so on top of things…I wonder how long it would take for our government to figure out what happened.
August 23, 2007 at 2:47 PM #79960ParticipantWell- let’s say some of them did transfer the money to a Swiss bank. Our government is so on top of things…I wonder how long it would take for our government to figure out what happened.
August 23, 2007 at 2:47 PM #80088ParticipantWell- let’s say some of them did transfer the money to a Swiss bank. Our government is so on top of things…I wonder how long it would take for our government to figure out what happened.
August 23, 2007 at 3:13 PM #80126mgubnyc1
ParticipantI only know from what I saw when I lived in Murrieta, I bought in 2003 and sold in August of 06. Got the hell out of there!!
Trust me not everyone cashed out and moved away. Alot are still sitting with cash (under their mattress for all I know) waiting for their loan to reset, do you really think they will give that money back to stay in that piece of crap stucco box worth 1 or 2 hundred thousand less then what they paid????
I personely saw 4 neighbors each make close to 200K. I know for a fact the other homes they bought after they sold the ones on my street were zero down. Now I see 2 of these homes in foreclosure. I really don’t think these people are worried about how to hide the money. In the first place 5 or 6 years ago they never even dreamed they would have 1 or 2 hundred thousand in cash, they ain’t given it up!!August 23, 2007 at 3:13 PM #80103ParticipantI only know from what I saw when I lived in Murrieta, I bought in 2003 and sold in August of 06. Got the hell out of there!!
Trust me not everyone cashed out and moved away. Alot are still sitting with cash (under their mattress for all I know) waiting for their loan to reset, do you really think they will give that money back to stay in that piece of crap stucco box worth 1 or 2 hundred thousand less then what they paid????
I personely saw 4 neighbors each make close to 200K. I know for a fact the other homes they bought after they sold the ones on my street were zero down. Now I see 2 of these homes in foreclosure. I really don’t think these people are worried about how to hide the money. In the first place 5 or 6 years ago they never even dreamed they would have 1 or 2 hundred thousand in cash, they ain’t given it up!! -
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