Youwalkaway.com based in San Diego

[capeman]

They claim that you can walk away from your house after 8 months of no payments and then under FMN and FRE guidance you can get another home loan in as little as two years. If this is true millions will be mailing their keys back in short order. They’re in San Diego too! hahahahahaha

http://www.youwalkaway.com/index.html

[SHILOH]

will a lawyer please respond…isn’t it fraud?

[capeman]

From reading the FAQ there seems to be nothing other than legal information provided as a kit. In that respect the company wouldn’t be accusable of fraud.

I believe the homeowner would not be committing anything other than breaking of a contract by not paying. That in itself is not punishable by jail time but as I am not a lawyer I could be wrong.

[HereWeGo]

You gotta love the pictures that cycle through at the top of the site.

[HereWeGo]

You gotta love the pictures that cycle through at the top of the site.

[HereWeGo]

You gotta love the pictures that cycle through at the top of the site.

[HereWeGo]

You gotta love the pictures that cycle through at the top of the site.

[HereWeGo]

You gotta love the pictures that cycle through at the top of the site.

[capeman]

From reading the FAQ there seems to be nothing other than legal information provided as a kit. In that respect the company wouldn’t be accusable of fraud.

I believe the homeowner would not be committing anything other than breaking of a contract by not paying. That in itself is not punishable by jail time but as I am not a lawyer I could be wrong.

[capeman]

From reading the FAQ there seems to be nothing other than legal information provided as a kit. In that respect the company wouldn’t be accusable of fraud.

I believe the homeowner would not be committing anything other than breaking of a contract by not paying. That in itself is not punishable by jail time but as I am not a lawyer I could be wrong.

[capeman]

From reading the FAQ there seems to be nothing other than legal information provided as a kit. In that respect the company wouldn’t be accusable of fraud.

I believe the homeowner would not be committing anything other than breaking of a contract by not paying. That in itself is not punishable by jail time but as I am not a lawyer I could be wrong.

[capeman]

From reading the FAQ there seems to be nothing other than legal information provided as a kit. In that respect the company wouldn’t be accusable of fraud.

I believe the homeowner would not be committing anything other than breaking of a contract by not paying. That in itself is not punishable by jail time but as I am not a lawyer I could be wrong.

[kewp]

IANAL, but I know it isn’t fraud. If the loan is 100% non-recourse then the house is the collateral and there is nothing the lender can do other than put a black market on their credit report.

Looking more and more like ’08 will be the revolt of the FB’ers. I’m cautiously optimistic about this, as it could lead to a fast-forward correction, early bottom and return to solid lending standards.

[Anonymous]

Wow. Haven’t seen anything quite like this before.

[Anonymous]

Wow. Haven’t seen anything quite like this before.

[Anonymous]

Wow. Haven’t seen anything quite like this before.

[Anonymous]

Wow. Haven’t seen anything quite like this before.

[Anonymous]

Wow. Haven’t seen anything quite like this before.

[kewp]

IANAL, but I know it isn’t fraud. If the loan is 100% non-recourse then the house is the collateral and there is nothing the lender can do other than put a black market on their credit report.

Looking more and more like ’08 will be the revolt of the FB’ers. I’m cautiously optimistic about this, as it could lead to a fast-forward correction, early bottom and return to solid lending standards.

[kewp]

IANAL, but I know it isn’t fraud. If the loan is 100% non-recourse then the house is the collateral and there is nothing the lender can do other than put a black market on their credit report.

Looking more and more like ’08 will be the revolt of the FB’ers. I’m cautiously optimistic about this, as it could lead to a fast-forward correction, early bottom and return to solid lending standards.

[kewp]

IANAL, but I know it isn’t fraud. If the loan is 100% non-recourse then the house is the collateral and there is nothing the lender can do other than put a black market on their credit report.

Looking more and more like ’08 will be the revolt of the FB’ers. I’m cautiously optimistic about this, as it could lead to a fast-forward correction, early bottom and return to solid lending standards.

[kewp]

IANAL, but I know it isn’t fraud. If the loan is 100% non-recourse then the house is the collateral and there is nothing the lender can do other than put a black market on their credit report.

Looking more and more like ’08 will be the revolt of the FB’ers. I’m cautiously optimistic about this, as it could lead to a fast-forward correction, early bottom and return to solid lending standards.

[Anonymous]

Submitted by SHILOH on January 29, 2008 – 2:21pm.

will a lawyer please respond…isn’t it fraud?

No, it isn’t fraud. It’s people doing what’s in their own best interests. It’s always been this way and it will continue to be this way.

[beachhunter]

are you sims friend?

[beachhunter]

sorry that was for shiloh.. If so what’s shaken..

[Multiplepropertyowner]

Great business idea. Wish I had thought of it. Goes to show you that you can make money in any market.

[Multiplepropertyowner]

Great business idea. Wish I had thought of it. Goes to show you that you can make money in any market.

[Multiplepropertyowner]

Great business idea. Wish I had thought of it. Goes to show you that you can make money in any market.

[Multiplepropertyowner]

Great business idea. Wish I had thought of it. Goes to show you that you can make money in any market.

[Multiplepropertyowner]

Great business idea. Wish I had thought of it. Goes to show you that you can make money in any market.

[beachhunter]

sorry that was for shiloh.. If so what’s shaken..

[beachhunter]

sorry that was for shiloh.. If so what’s shaken..

[beachhunter]

sorry that was for shiloh.. If so what’s shaken..

[beachhunter]

sorry that was for shiloh.. If so what’s shaken..

[beachhunter]

are you sims friend?

[beachhunter]

are you sims friend?

[beachhunter]

are you sims friend?

[beachhunter]

are you sims friend?

[Anonymous]

Submitted by SHILOH on January 29, 2008 – 2:21pm.

will a lawyer please respond…isn’t it fraud?

No, it isn’t fraud. It’s people doing what’s in their own best interests. It’s always been this way and it will continue to be this way.

[Anonymous]

Submitted by SHILOH on January 29, 2008 – 2:21pm.

will a lawyer please respond…isn’t it fraud?

No, it isn’t fraud. It’s people doing what’s in their own best interests. It’s always been this way and it will continue to be this way.

[Anonymous]

Submitted by SHILOH on January 29, 2008 – 2:21pm.

will a lawyer please respond…isn’t it fraud?

No, it isn’t fraud. It’s people doing what’s in their own best interests. It’s always been this way and it will continue to be this way.

[Anonymous]

Submitted by SHILOH on January 29, 2008 – 2:21pm.

will a lawyer please respond…isn’t it fraud?

No, it isn’t fraud. It’s people doing what’s in their own best interests. It’s always been this way and it will continue to be this way.

[SHILOH]

will a lawyer please respond…isn’t it fraud?

[SHILOH]

will a lawyer please respond…isn’t it fraud?

[SHILOH]

will a lawyer please respond…isn’t it fraud?

[SHILOH]

will a lawyer please respond…isn’t it fraud?

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[Anonymous]

Maybe this will help, check out this site:

http://www.sandiegopredatorylending.com/?p=36

There’s an article on “Dumping your house”

[DoJC]

Wow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.

[michael]

Disclaimer on bottom of home page…

“This company and site informs its users about foreclosure law designed to help them safely cope with their own legal needs. However, legal information is not the same as legal advice. The law as it applies to each individual varies with specific circumstances. The laws of each state are constantly changing, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.”

[beanmaestro]

Frankly, this is a brilliant idea for the underwater homedebtor.

You’ve been piling up credit card debt to pay the mortgage, and bleeding more each month. So you stop paying now (since it’s a matter of time anyway), pay off your credit cards, and save up a security deposit in the months before eviction. You clear your credit check on your new rental before the foreclosure, and know exactly when you have to move. Seems almost civilized…

[New_Renter]

Most landlords do a thorough credit check on prospective lessee’s these days. Doesn’t this put a little fly in the ointment on your scenario beanmaestro? Maybe they could find a desperate landlord, but from what I see, occupancy rates are quite high right now in San Diego, so landlords can be choosy and lower their risk…

[Fearful]

Oh, yeah, we’re in for a wild ride from here on out, no doubt about it.

[kev374]

good god!

These people will all way away, the lending institutions will collapse and eventually they will have to be bailed out with taxpayer money.

[Anonymous]

What’s so shocking here? Did any of you really think this wasn’t going to happen??

In regards to this company, it sounds like a scam. I’m assuming for a fee, they counsel people on how to walk away from their homes and then rebuild their credit.. Anyone can get this information for free by researching it. It’s not difficult.

[Anonymous]

What’s so shocking here? Did any of you really think this wasn’t going to happen??

In regards to this company, it sounds like a scam. I’m assuming for a fee, they counsel people on how to walk away from their homes and then rebuild their credit.. Anyone can get this information for free by researching it. It’s not difficult.

[Anonymous]

What’s so shocking here? Did any of you really think this wasn’t going to happen??

In regards to this company, it sounds like a scam. I’m assuming for a fee, they counsel people on how to walk away from their homes and then rebuild their credit.. Anyone can get this information for free by researching it. It’s not difficult.

[Anonymous]

What’s so shocking here? Did any of you really think this wasn’t going to happen??

In regards to this company, it sounds like a scam. I’m assuming for a fee, they counsel people on how to walk away from their homes and then rebuild their credit.. Anyone can get this information for free by researching it. It’s not difficult.

[Anonymous]

What’s so shocking here? Did any of you really think this wasn’t going to happen??

In regards to this company, it sounds like a scam. I’m assuming for a fee, they counsel people on how to walk away from their homes and then rebuild their credit.. Anyone can get this information for free by researching it. It’s not difficult.

[kev374]

good god!

These people will all way away, the lending institutions will collapse and eventually they will have to be bailed out with taxpayer money.

[kev374]

good god!

These people will all way away, the lending institutions will collapse and eventually they will have to be bailed out with taxpayer money.

[kev374]

good god!

These people will all way away, the lending institutions will collapse and eventually they will have to be bailed out with taxpayer money.

[kev374]

good god!

These people will all way away, the lending institutions will collapse and eventually they will have to be bailed out with taxpayer money.

[Fearful]

Oh, yeah, we’re in for a wild ride from here on out, no doubt about it.

[Fearful]

Oh, yeah, we’re in for a wild ride from here on out, no doubt about it.

[Fearful]

Oh, yeah, we’re in for a wild ride from here on out, no doubt about it.

[Fearful]

Oh, yeah, we’re in for a wild ride from here on out, no doubt about it.

[beanmaestro]

NR-

I’m in Santa Barbara, so I’m not that familiar with SD’s rental occupancy rate. But near my house (not the most fashionable part of town), there are a bunch of fairly plain apartment complexes that always have a vacancy or three. These complexes can’t afford to turn down fully employed applicants who can afford the full deposit, just because they’re being foreclosed. Or at least, based on people I know who live there, they’re willing to take anyone with a job (or financial aid) and a deposit. And you have to figure that growing number of foreclosures will reduce its stigma.

I just don’t see thousands of foreclosed families walking the streets because apartments they can afford would rather have vacancies than let them in. More likely they just demand an extra $1k in deposit. If there’s a demand, someone will create the supply.

[kelly]

I’m a reporter for voiceofsandiego.org and would love to talk to someone who’s talked with this company or who’s considering walking away.

Please e-mail me at kelly.bennett(at)voiceofsandiego.org if that’s you.

kb

[kelly]

Still looking for people who are trying to decide whether to walk away from their mortgages.

In the meantime, I heard from one of our readers with a compelling story that I thought you’d be interested in. Click on this link to go there.

Here’s a taste:

It’s troubling to me that people have so little shame — and so little sense of obligation toward their neighbors and their commitments — that they would just throw up their hands and not make their best efforts to do what they said they would.

If you have ideas or people I should talk to, please send me an e-mail — kelly.bennett(at)voiceofsandiego.org

Thanks, Piggs –
kb

[kev374]

The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.

HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.

Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.

The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!

[kev374]

The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.

HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.

Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.

The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!

[kev374]

The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.

HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.

Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.

The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!

[kev374]

The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.

HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.

Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.

The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!

[kev374]

The lenders RICHLY deserve the losses. I hope the guys on Wall St. lose everything. They took ridiculous risks due to their immense greed and I have no sympathy for them.

HOWEVER, my concern is that there WILL be a taxpayer funded bailout for Wall St. in the guise of protecting the poor foreclosure “victims”.

Wall St. will get bailed out by taxpayers. The reckless homeowners who bought homes they couldn’t afford will get a super low interest rate lock, some other subsidy or at the very least have had the opportunity to live in a home they couldn’t afford, rent free for a few months and also had the good fortune of living lavishly on home equity lines for a few years.

The real victims are the people who were responsible, worked hard for their money, paid their taxes and did not exhibit this reckless behavior. The bailout is going to be on the backs of such people!

[DaCounselor]

I would be more inclined to call it stupidity as opposed to honor, Kelly. Our astute “investor” (characterizing a property that is negative cash flow from the get-go an “income” property is our first sign of who we are dealing with) throws down the morality card we have debated here for months. My advice to this person, having already acknowledged that they have made a bad business decision, is to start thinking long and hard about whether their priorities should rest with some over-reaching sense of obligation to their neighborhood as opposed to their own family.

Yes indeed, there is great “honor” in sinking increasing amounts of money into a bad investment while neglecting your childrens’ educational funds. That makes tremendous sense. Perhaps the children don’t even really need higher education, thus increasing the likelihood that they will perpetuate their parents’ fine investment decisions. Fantastic idea. After all, we don’t want to cause any problems for next door neighbor Bob’s refi or ruffle any feathers in the neighborhood.

This person’s circumstances are affected by the fact that the distressed property is, ahem, “income” property, which has certain legal implications relating to…walkability. Speaking more in generalities, then, I suggest that anyone who can walk with nothing but a damaged credit report must consider doing so if the alternative is financial ruin. Anyone who steers their own bus, family aboard, over the cliff when there is a way out is arguably an idiot.

And what of those, you ask, who do not face financial ruin but instead would like to shave a few hundred grand off their mortgage balance? I can hear the morality drumbeats grow louder on this one, but I’m not inclined to cast stones regarding someone’s business decision pursuant to a contract that if at all typical has provisions on point. Now will there be a macroeconomic effect of decisions to walk? Yes. Will I be affected in some way? Probably. But it’s certainly naive to believe that we have not been affected by the decisions of our fellow man/consumer/borrower/insured/etc over the span of time. This is no different.

[kelly]

Thanks for all of the feedback – we ran a story this morning on voiceofsandiego.org about this concept and the You Walk Away company. Here’s a link.

kb

[nostradamus]

Hi Kelly,
Thanks for the link. Can you write a story about financially responsible people who bought homes within a price range they could easily afford, and who now have significant savings yet are regretful due to the fact that the fed–to stave off a recession caused by fiscal recklessness– has lowered rates hereby devaluing the dollar while reducing bond and cd interest rates which in turn causes said financially responsible people to become so infuriated that they write run-on sentences?

I think that would be a great story for which I have a lot of input. You might call it “Heads you lose, tails you lose” (i.e. if you overextended yourself with exotic loans you’re screwed, if you didn’t and you saved your money you’re still screwed).

[kewp]

Kelly,

I think you should make a point that there is really no ‘moral’ obligation to service mortgage debt. Its a contract, the house is the collateral, so tossing the keys is part of the deal.

If the neighbors are so concerned about not blowing the comps, they can always incorporate and buy up all the foreclosure properties at an inflated price.

[kewp]

Kelly,

I think you should make a point that there is really no ‘moral’ obligation to service mortgage debt. Its a contract, the house is the collateral, so tossing the keys is part of the deal.

If the neighbors are so concerned about not blowing the comps, they can always incorporate and buy up all the foreclosure properties at an inflated price.

[kewp]

Kelly,

I think you should make a point that there is really no ‘moral’ obligation to service mortgage debt. Its a contract, the house is the collateral, so tossing the keys is part of the deal.

If the neighbors are so concerned about not blowing the comps, they can always incorporate and buy up all the foreclosure properties at an inflated price.

[kewp]

Kelly,

I think you should make a point that there is really no ‘moral’ obligation to service mortgage debt. Its a contract, the house is the collateral, so tossing the keys is part of the deal.

If the neighbors are so concerned about not blowing the comps, they can always incorporate and buy up all the foreclosure properties at an inflated price.

[kewp]

Kelly,

I think you should make a point that there is really no ‘moral’ obligation to service mortgage debt. Its a contract, the house is the collateral, so tossing the keys is part of the deal.

If the neighbors are so concerned about not blowing the comps, they can always incorporate and buy up all the foreclosure properties at an inflated price.

[nostradamus]

Hi Kelly,
Thanks for the link. Can you write a story about financially responsible people who bought homes within a price range they could easily afford, and who now have significant savings yet are regretful due to the fact that the fed–to stave off a recession caused by fiscal recklessness– has lowered rates hereby devaluing the dollar while reducing bond and cd interest rates which in turn causes said financially responsible people to become so infuriated that they write run-on sentences?

I think that would be a great story for which I have a lot of input. You might call it “Heads you lose, tails you lose” (i.e. if you overextended yourself with exotic loans you’re screwed, if you didn’t and you saved your money you’re still screwed).

[nostradamus]

Hi Kelly,
Thanks for the link. Can you write a story about financially responsible people who bought homes within a price range they could easily afford, and who now have significant savings yet are regretful due to the fact that the fed–to stave off a recession caused by fiscal recklessness– has lowered rates hereby devaluing the dollar while reducing bond and cd interest rates which in turn causes said financially responsible people to become so infuriated that they write run-on sentences?

I think that would be a great story for which I have a lot of input. You might call it “Heads you lose, tails you lose” (i.e. if you overextended yourself with exotic loans you’re screwed, if you didn’t and you saved your money you’re still screwed).

[nostradamus]

Hi Kelly,
Thanks for the link. Can you write a story about financially responsible people who bought homes within a price range they could easily afford, and who now have significant savings yet are regretful due to the fact that the fed–to stave off a recession caused by fiscal recklessness– has lowered rates hereby devaluing the dollar while reducing bond and cd interest rates which in turn causes said financially responsible people to become so infuriated that they write run-on sentences?

I think that would be a great story for which I have a lot of input. You might call it “Heads you lose, tails you lose” (i.e. if you overextended yourself with exotic loans you’re screwed, if you didn’t and you saved your money you’re still screwed).

[nostradamus]

Hi Kelly,
Thanks for the link. Can you write a story about financially responsible people who bought homes within a price range they could easily afford, and who now have significant savings yet are regretful due to the fact that the fed–to stave off a recession caused by fiscal recklessness– has lowered rates hereby devaluing the dollar while reducing bond and cd interest rates which in turn causes said financially responsible people to become so infuriated that they write run-on sentences?

I think that would be a great story for which I have a lot of input. You might call it “Heads you lose, tails you lose” (i.e. if you overextended yourself with exotic loans you’re screwed, if you didn’t and you saved your money you’re still screwed).

[kelly]

Thanks for all of the feedback – we ran a story this morning on voiceofsandiego.org about this concept and the You Walk Away company. Here’s a link.

kb

[kelly]

Thanks for all of the feedback – we ran a story this morning on voiceofsandiego.org about this concept and the You Walk Away company. Here’s a link.

kb

[kelly]

Thanks for all of the feedback – we ran a story this morning on voiceofsandiego.org about this concept and the You Walk Away company. Here’s a link.

kb

[kelly]

Thanks for all of the feedback – we ran a story this morning on voiceofsandiego.org about this concept and the You Walk Away company. Here’s a link.

kb

[DaCounselor]

I would be more inclined to call it stupidity as opposed to honor, Kelly. Our astute “investor” (characterizing a property that is negative cash flow from the get-go an “income” property is our first sign of who we are dealing with) throws down the morality card we have debated here for months. My advice to this person, having already acknowledged that they have made a bad business decision, is to start thinking long and hard about whether their priorities should rest with some over-reaching sense of obligation to their neighborhood as opposed to their own family.

Yes indeed, there is great “honor” in sinking increasing amounts of money into a bad investment while neglecting your childrens’ educational funds. That makes tremendous sense. Perhaps the children don’t even really need higher education, thus increasing the likelihood that they will perpetuate their parents’ fine investment decisions. Fantastic idea. After all, we don’t want to cause any problems for next door neighbor Bob’s refi or ruffle any feathers in the neighborhood.

This person’s circumstances are affected by the fact that the distressed property is, ahem, “income” property, which has certain legal implications relating to…walkability. Speaking more in generalities, then, I suggest that anyone who can walk with nothing but a damaged credit report must consider doing so if the alternative is financial ruin. Anyone who steers their own bus, family aboard, over the cliff when there is a way out is arguably an idiot.

And what of those, you ask, who do not face financial ruin but instead would like to shave a few hundred grand off their mortgage balance? I can hear the morality drumbeats grow louder on this one, but I’m not inclined to cast stones regarding someone’s business decision pursuant to a contract that if at all typical has provisions on point. Now will there be a macroeconomic effect of decisions to walk? Yes. Will I be affected in some way? Probably. But it’s certainly naive to believe that we have not been affected by the decisions of our fellow man/consumer/borrower/insured/etc over the span of time. This is no different.

[DaCounselor]

I would be more inclined to call it stupidity as opposed to honor, Kelly. Our astute “investor” (characterizing a property that is negative cash flow from the get-go an “income” property is our first sign of who we are dealing with) throws down the morality card we have debated here for months. My advice to this person, having already acknowledged that they have made a bad business decision, is to start thinking long and hard about whether their priorities should rest with some over-reaching sense of obligation to their neighborhood as opposed to their own family.

Yes indeed, there is great “honor” in sinking increasing amounts of money into a bad investment while neglecting your childrens’ educational funds. That makes tremendous sense. Perhaps the children don’t even really need higher education, thus increasing the likelihood that they will perpetuate their parents’ fine investment decisions. Fantastic idea. After all, we don’t want to cause any problems for next door neighbor Bob’s refi or ruffle any feathers in the neighborhood.

This person’s circumstances are affected by the fact that the distressed property is, ahem, “income” property, which has certain legal implications relating to…walkability. Speaking more in generalities, then, I suggest that anyone who can walk with nothing but a damaged credit report must consider doing so if the alternative is financial ruin. Anyone who steers their own bus, family aboard, over the cliff when there is a way out is arguably an idiot.

And what of those, you ask, who do not face financial ruin but instead would like to shave a few hundred grand off their mortgage balance? I can hear the morality drumbeats grow louder on this one, but I’m not inclined to cast stones regarding someone’s business decision pursuant to a contract that if at all typical has provisions on point. Now will there be a macroeconomic effect of decisions to walk? Yes. Will I be affected in some way? Probably. But it’s certainly naive to believe that we have not been affected by the decisions of our fellow man/consumer/borrower/insured/etc over the span of time. This is no different.

[DaCounselor]

I would be more inclined to call it stupidity as opposed to honor, Kelly. Our astute “investor” (characterizing a property that is negative cash flow from the get-go an “income” property is our first sign of who we are dealing with) throws down the morality card we have debated here for months. My advice to this person, having already acknowledged that they have made a bad business decision, is to start thinking long and hard about whether their priorities should rest with some over-reaching sense of obligation to their neighborhood as opposed to their own family.

Yes indeed, there is great “honor” in sinking increasing amounts of money into a bad investment while neglecting your childrens’ educational funds. That makes tremendous sense. Perhaps the children don’t even really need higher education, thus increasing the likelihood that they will perpetuate their parents’ fine investment decisions. Fantastic idea. After all, we don’t want to cause any problems for next door neighbor Bob’s refi or ruffle any feathers in the neighborhood.

This person’s circumstances are affected by the fact that the distressed property is, ahem, “income” property, which has certain legal implications relating to…walkability. Speaking more in generalities, then, I suggest that anyone who can walk with nothing but a damaged credit report must consider doing so if the alternative is financial ruin. Anyone who steers their own bus, family aboard, over the cliff when there is a way out is arguably an idiot.

And what of those, you ask, who do not face financial ruin but instead would like to shave a few hundred grand off their mortgage balance? I can hear the morality drumbeats grow louder on this one, but I’m not inclined to cast stones regarding someone’s business decision pursuant to a contract that if at all typical has provisions on point. Now will there be a macroeconomic effect of decisions to walk? Yes. Will I be affected in some way? Probably. But it’s certainly naive to believe that we have not been affected by the decisions of our fellow man/consumer/borrower/insured/etc over the span of time. This is no different.

[DaCounselor]

I would be more inclined to call it stupidity as opposed to honor, Kelly. Our astute “investor” (characterizing a property that is negative cash flow from the get-go an “income” property is our first sign of who we are dealing with) throws down the morality card we have debated here for months. My advice to this person, having already acknowledged that they have made a bad business decision, is to start thinking long and hard about whether their priorities should rest with some over-reaching sense of obligation to their neighborhood as opposed to their own family.

Yes indeed, there is great “honor” in sinking increasing amounts of money into a bad investment while neglecting your childrens’ educational funds. That makes tremendous sense. Perhaps the children don’t even really need higher education, thus increasing the likelihood that they will perpetuate their parents’ fine investment decisions. Fantastic idea. After all, we don’t want to cause any problems for next door neighbor Bob’s refi or ruffle any feathers in the neighborhood.

This person’s circumstances are affected by the fact that the distressed property is, ahem, “income” property, which has certain legal implications relating to…walkability. Speaking more in generalities, then, I suggest that anyone who can walk with nothing but a damaged credit report must consider doing so if the alternative is financial ruin. Anyone who steers their own bus, family aboard, over the cliff when there is a way out is arguably an idiot.

And what of those, you ask, who do not face financial ruin but instead would like to shave a few hundred grand off their mortgage balance? I can hear the morality drumbeats grow louder on this one, but I’m not inclined to cast stones regarding someone’s business decision pursuant to a contract that if at all typical has provisions on point. Now will there be a macroeconomic effect of decisions to walk? Yes. Will I be affected in some way? Probably. But it’s certainly naive to believe that we have not been affected by the decisions of our fellow man/consumer/borrower/insured/etc over the span of time. This is no different.

[kelly]

Still looking for people who are trying to decide whether to walk away from their mortgages.

In the meantime, I heard from one of our readers with a compelling story that I thought you’d be interested in. Click on this link to go there.

Here’s a taste:

It’s troubling to me that people have so little shame — and so little sense of obligation toward their neighbors and their commitments — that they would just throw up their hands and not make their best efforts to do what they said they would.

If you have ideas or people I should talk to, please send me an e-mail — kelly.bennett(at)voiceofsandiego.org

Thanks, Piggs –
kb

[kelly]

Still looking for people who are trying to decide whether to walk away from their mortgages.

In the meantime, I heard from one of our readers with a compelling story that I thought you’d be interested in. Click on this link to go there.

Here’s a taste:

It’s troubling to me that people have so little shame — and so little sense of obligation toward their neighbors and their commitments — that they would just throw up their hands and not make their best efforts to do what they said they would.

If you have ideas or people I should talk to, please send me an e-mail — kelly.bennett(at)voiceofsandiego.org

Thanks, Piggs –
kb

[kelly]

Still looking for people who are trying to decide whether to walk away from their mortgages.

In the meantime, I heard from one of our readers with a compelling story that I thought you’d be interested in. Click on this link to go there.

Here’s a taste:

It’s troubling to me that people have so little shame — and so little sense of obligation toward their neighbors and their commitments — that they would just throw up their hands and not make their best efforts to do what they said they would.

If you have ideas or people I should talk to, please send me an e-mail — kelly.bennett(at)voiceofsandiego.org

Thanks, Piggs –
kb

[kelly]

Still looking for people who are trying to decide whether to walk away from their mortgages.

In the meantime, I heard from one of our readers with a compelling story that I thought you’d be interested in. Click on this link to go there.

Here’s a taste:

It’s troubling to me that people have so little shame — and so little sense of obligation toward their neighbors and their commitments — that they would just throw up their hands and not make their best efforts to do what they said they would.

If you have ideas or people I should talk to, please send me an e-mail — kelly.bennett(at)voiceofsandiego.org

Thanks, Piggs –
kb

[kelly]

I’m a reporter for voiceofsandiego.org and would love to talk to someone who’s talked with this company or who’s considering walking away.

Please e-mail me at kelly.bennett(at)voiceofsandiego.org if that’s you.

kb

[kelly]

I’m a reporter for voiceofsandiego.org and would love to talk to someone who’s talked with this company or who’s considering walking away.

Please e-mail me at kelly.bennett(at)voiceofsandiego.org if that’s you.

kb

[kelly]

I’m a reporter for voiceofsandiego.org and would love to talk to someone who’s talked with this company or who’s considering walking away.

Please e-mail me at kelly.bennett(at)voiceofsandiego.org if that’s you.

kb

[kelly]

I’m a reporter for voiceofsandiego.org and would love to talk to someone who’s talked with this company or who’s considering walking away.

Please e-mail me at kelly.bennett(at)voiceofsandiego.org if that’s you.

kb

[beanmaestro]

NR-

I’m in Santa Barbara, so I’m not that familiar with SD’s rental occupancy rate. But near my house (not the most fashionable part of town), there are a bunch of fairly plain apartment complexes that always have a vacancy or three. These complexes can’t afford to turn down fully employed applicants who can afford the full deposit, just because they’re being foreclosed. Or at least, based on people I know who live there, they’re willing to take anyone with a job (or financial aid) and a deposit. And you have to figure that growing number of foreclosures will reduce its stigma.

I just don’t see thousands of foreclosed families walking the streets because apartments they can afford would rather have vacancies than let them in. More likely they just demand an extra $1k in deposit. If there’s a demand, someone will create the supply.

[beanmaestro]

NR-

I’m in Santa Barbara, so I’m not that familiar with SD’s rental occupancy rate. But near my house (not the most fashionable part of town), there are a bunch of fairly plain apartment complexes that always have a vacancy or three. These complexes can’t afford to turn down fully employed applicants who can afford the full deposit, just because they’re being foreclosed. Or at least, based on people I know who live there, they’re willing to take anyone with a job (or financial aid) and a deposit. And you have to figure that growing number of foreclosures will reduce its stigma.

I just don’t see thousands of foreclosed families walking the streets because apartments they can afford would rather have vacancies than let them in. More likely they just demand an extra $1k in deposit. If there’s a demand, someone will create the supply.

[beanmaestro]

NR-

I’m in Santa Barbara, so I’m not that familiar with SD’s rental occupancy rate. But near my house (not the most fashionable part of town), there are a bunch of fairly plain apartment complexes that always have a vacancy or three. These complexes can’t afford to turn down fully employed applicants who can afford the full deposit, just because they’re being foreclosed. Or at least, based on people I know who live there, they’re willing to take anyone with a job (or financial aid) and a deposit. And you have to figure that growing number of foreclosures will reduce its stigma.

I just don’t see thousands of foreclosed families walking the streets because apartments they can afford would rather have vacancies than let them in. More likely they just demand an extra $1k in deposit. If there’s a demand, someone will create the supply.

[beanmaestro]

NR-

I’m in Santa Barbara, so I’m not that familiar with SD’s rental occupancy rate. But near my house (not the most fashionable part of town), there are a bunch of fairly plain apartment complexes that always have a vacancy or three. These complexes can’t afford to turn down fully employed applicants who can afford the full deposit, just because they’re being foreclosed. Or at least, based on people I know who live there, they’re willing to take anyone with a job (or financial aid) and a deposit. And you have to figure that growing number of foreclosures will reduce its stigma.

I just don’t see thousands of foreclosed families walking the streets because apartments they can afford would rather have vacancies than let them in. More likely they just demand an extra $1k in deposit. If there’s a demand, someone will create the supply.

[New_Renter]

Most landlords do a thorough credit check on prospective lessee’s these days. Doesn’t this put a little fly in the ointment on your scenario beanmaestro? Maybe they could find a desperate landlord, but from what I see, occupancy rates are quite high right now in San Diego, so landlords can be choosy and lower their risk…

[New_Renter]

Most landlords do a thorough credit check on prospective lessee’s these days. Doesn’t this put a little fly in the ointment on your scenario beanmaestro? Maybe they could find a desperate landlord, but from what I see, occupancy rates are quite high right now in San Diego, so landlords can be choosy and lower their risk…

[New_Renter]

Most landlords do a thorough credit check on prospective lessee’s these days. Doesn’t this put a little fly in the ointment on your scenario beanmaestro? Maybe they could find a desperate landlord, but from what I see, occupancy rates are quite high right now in San Diego, so landlords can be choosy and lower their risk…

[New_Renter]

Most landlords do a thorough credit check on prospective lessee’s these days. Doesn’t this put a little fly in the ointment on your scenario beanmaestro? Maybe they could find a desperate landlord, but from what I see, occupancy rates are quite high right now in San Diego, so landlords can be choosy and lower their risk…

[beanmaestro]

Frankly, this is a brilliant idea for the underwater homedebtor.

You’ve been piling up credit card debt to pay the mortgage, and bleeding more each month. So you stop paying now (since it’s a matter of time anyway), pay off your credit cards, and save up a security deposit in the months before eviction. You clear your credit check on your new rental before the foreclosure, and know exactly when you have to move. Seems almost civilized…

[beanmaestro]

Frankly, this is a brilliant idea for the underwater homedebtor.

You’ve been piling up credit card debt to pay the mortgage, and bleeding more each month. So you stop paying now (since it’s a matter of time anyway), pay off your credit cards, and save up a security deposit in the months before eviction. You clear your credit check on your new rental before the foreclosure, and know exactly when you have to move. Seems almost civilized…

[beanmaestro]

Frankly, this is a brilliant idea for the underwater homedebtor.

You’ve been piling up credit card debt to pay the mortgage, and bleeding more each month. So you stop paying now (since it’s a matter of time anyway), pay off your credit cards, and save up a security deposit in the months before eviction. You clear your credit check on your new rental before the foreclosure, and know exactly when you have to move. Seems almost civilized…

[beanmaestro]

Frankly, this is a brilliant idea for the underwater homedebtor.

You’ve been piling up credit card debt to pay the mortgage, and bleeding more each month. So you stop paying now (since it’s a matter of time anyway), pay off your credit cards, and save up a security deposit in the months before eviction. You clear your credit check on your new rental before the foreclosure, and know exactly when you have to move. Seems almost civilized…

[michael]

Disclaimer on bottom of home page…

“This company and site informs its users about foreclosure law designed to help them safely cope with their own legal needs. However, legal information is not the same as legal advice. The law as it applies to each individual varies with specific circumstances. The laws of each state are constantly changing, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.”

[michael]

Disclaimer on bottom of home page…

“This company and site informs its users about foreclosure law designed to help them safely cope with their own legal needs. However, legal information is not the same as legal advice. The law as it applies to each individual varies with specific circumstances. The laws of each state are constantly changing, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.”

[michael]

Disclaimer on bottom of home page…

“This company and site informs its users about foreclosure law designed to help them safely cope with their own legal needs. However, legal information is not the same as legal advice. The law as it applies to each individual varies with specific circumstances. The laws of each state are constantly changing, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.”

[michael]

Disclaimer on bottom of home page…

“This company and site informs its users about foreclosure law designed to help them safely cope with their own legal needs. However, legal information is not the same as legal advice. The law as it applies to each individual varies with specific circumstances. The laws of each state are constantly changing, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.”

[DoJC]

Wow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.

[DoJC]

Wow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.

[DoJC]

Wow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.

[DoJC]

Wow, this twist could really aggravate the housing problem we’re having. When people who can otherwise afford their home simply walk away due to the unfavorable ratio of mortgage debt to value on their home we’re in for some seriously bad housing market times. Lenders will become even less willing to extend loans to people that could easily buy a home due to the risk in states like CA where the plunge is still happening.

[Pasadena Broker]

Gotta love stock photos.

Foreclosure looks like fun

[Pasadena Broker]

Gotta love stock photos.

Foreclosure looks like fun

[Pasadena Broker]

Gotta love stock photos.

Foreclosure looks like fun

[Pasadena Broker]

Gotta love stock photos.

Foreclosure looks like fun

[Pasadena Broker]

Gotta love stock photos.

Foreclosure looks like fun

[bubba99]

This looks like a variation of the “Repair your Credit Scam”. The “kit” offers nothing that is not already guaranteed by law – right to walk away from purchase money mortgages, and phrases like “You CAN have the foreclosure REMOVED from your credit!”. All true, but it takes 7 years for the foreclosure to be removed. And yes Fannie Mae may lend to you in two years, but not likely.

All for the low low price of $995 – on sale now. Just another rip off by bottom feeders. Expect more of these as things get worse.

[recordsclerk]

I’ve been a short sale that the buyer has stated that they are in the process of moving to their new home that they just purchased. I also spoke to a small store owner that is going to to the same thing. This is going to be big, people will walk away from being under water even if they can afford their payments. It’s not just going to be people that can’t afford payments after their teaser rate changes. Once this becomes more common place the majority of people underwater might do the same thing.

[Raybyrnes]

Rates have come down. What to say when payments resent that the borrower is not going to be in the smae position payment wise that they were when they took out the loan.

[djrobsd]

How much is your service?

A. With our money back guarantee, you get it all for only $995.00. This can be made in three easy payments of $332.00. Regular price is $1,195.00. For a limited time only price is reduced and subject to change without notice.

[djrobsd]

How much is your service?

A. With our money back guarantee, you get it all for only $995.00. This can be made in three easy payments of $332.00. Regular price is $1,195.00. For a limited time only price is reduced and subject to change without notice.

[djrobsd]

How much is your service?

A. With our money back guarantee, you get it all for only $995.00. This can be made in three easy payments of $332.00. Regular price is $1,195.00. For a limited time only price is reduced and subject to change without notice.

[djrobsd]

How much is your service?

A. With our money back guarantee, you get it all for only $995.00. This can be made in three easy payments of $332.00. Regular price is $1,195.00. For a limited time only price is reduced and subject to change without notice.

[djrobsd]

How much is your service?

A. With our money back guarantee, you get it all for only $995.00. This can be made in three easy payments of $332.00. Regular price is $1,195.00. For a limited time only price is reduced and subject to change without notice.

[Raybyrnes]

Rates have come down. What to say when payments resent that the borrower is not going to be in the smae position payment wise that they were when they took out the loan.

[Raybyrnes]

Rates have come down. What to say when payments resent that the borrower is not going to be in the smae position payment wise that they were when they took out the loan.

[Raybyrnes]

Rates have come down. What to say when payments resent that the borrower is not going to be in the smae position payment wise that they were when they took out the loan.

[Raybyrnes]

Rates have come down. What to say when payments resent that the borrower is not going to be in the smae position payment wise that they were when they took out the loan.

[recordsclerk]

I’ve been a short sale that the buyer has stated that they are in the process of moving to their new home that they just purchased. I also spoke to a small store owner that is going to to the same thing. This is going to be big, people will walk away from being under water even if they can afford their payments. It’s not just going to be people that can’t afford payments after their teaser rate changes. Once this becomes more common place the majority of people underwater might do the same thing.

[recordsclerk]

I’ve been a short sale that the buyer has stated that they are in the process of moving to their new home that they just purchased. I also spoke to a small store owner that is going to to the same thing. This is going to be big, people will walk away from being under water even if they can afford their payments. It’s not just going to be people that can’t afford payments after their teaser rate changes. Once this becomes more common place the majority of people underwater might do the same thing.

[recordsclerk]

I’ve been a short sale that the buyer has stated that they are in the process of moving to their new home that they just purchased. I also spoke to a small store owner that is going to to the same thing. This is going to be big, people will walk away from being under water even if they can afford their payments. It’s not just going to be people that can’t afford payments after their teaser rate changes. Once this becomes more common place the majority of people underwater might do the same thing.

[recordsclerk]

I’ve been a short sale that the buyer has stated that they are in the process of moving to their new home that they just purchased. I also spoke to a small store owner that is going to to the same thing. This is going to be big, people will walk away from being under water even if they can afford their payments. It’s not just going to be people that can’t afford payments after their teaser rate changes. Once this becomes more common place the majority of people underwater might do the same thing.

[bubba99]

This looks like a variation of the “Repair your Credit Scam”. The “kit” offers nothing that is not already guaranteed by law – right to walk away from purchase money mortgages, and phrases like “You CAN have the foreclosure REMOVED from your credit!”. All true, but it takes 7 years for the foreclosure to be removed. And yes Fannie Mae may lend to you in two years, but not likely.

All for the low low price of $995 – on sale now. Just another rip off by bottom feeders. Expect more of these as things get worse.

[bubba99]

This looks like a variation of the “Repair your Credit Scam”. The “kit” offers nothing that is not already guaranteed by law – right to walk away from purchase money mortgages, and phrases like “You CAN have the foreclosure REMOVED from your credit!”. All true, but it takes 7 years for the foreclosure to be removed. And yes Fannie Mae may lend to you in two years, but not likely.

All for the low low price of $995 – on sale now. Just another rip off by bottom feeders. Expect more of these as things get worse.

[bubba99]

This looks like a variation of the “Repair your Credit Scam”. The “kit” offers nothing that is not already guaranteed by law – right to walk away from purchase money mortgages, and phrases like “You CAN have the foreclosure REMOVED from your credit!”. All true, but it takes 7 years for the foreclosure to be removed. And yes Fannie Mae may lend to you in two years, but not likely.

All for the low low price of $995 – on sale now. Just another rip off by bottom feeders. Expect more of these as things get worse.

[bubba99]

This looks like a variation of the “Repair your Credit Scam”. The “kit” offers nothing that is not already guaranteed by law – right to walk away from purchase money mortgages, and phrases like “You CAN have the foreclosure REMOVED from your credit!”. All true, but it takes 7 years for the foreclosure to be removed. And yes Fannie Mae may lend to you in two years, but not likely.

All for the low low price of $995 – on sale now. Just another rip off by bottom feeders. Expect more of these as things get worse.

[Mayer]

http://www.youwalkaway.com was just on Channel 8 news at 5 PM and got some free advertising. Looks like it’s getting a little coverage from the MSM as well now. They gave a little description of the company and introduced the two founders. It got about three minutes worth of coverage.

[citydweller]

DJNinSD, hope some of this info is helpful.

[jpinpb]

This is JMHO.
Costco has a money back guarantee. Except recently instituted electronics, anything you buy at Costco, you can return regardless of how long you’ve had this item. I know someone that returned a vacuum cleaner after a couple of years. People return heaters they purchased in the winter. It is their policy. They want customers to be satisfied.

I’m not sure if everyone is familiar w/this. Most people are, especially if they shop at Costco. Some people think it’s wrong to do this, return something. They’ll take your purchase back, even w/out receipt. They just need your card and they have a record of your purchase in the computer.

Now, why is it wrong if it is Costco’s very own policy. They are betting most people won’t return items. But if it’s their policy, then some people take advantage of that. It is an understanding between customer and Costco.

If you enter into a contract w/a bank for a loan to buy the house and they don’t even bother to check if you can even make the payments and lo and behold you can’t, then the bank takes the house which you purchased w/their loan and they have held as collateral.

This should not really be considered wrong. It’s the terms of the contract and the bank agreed to this, as you have.

Sucks for everyone playing by the rules, but that’s how it is. The banks get the shaft. It will be less painful than have the people become mortgage slaves at the expense of taxpayers.

[jpinpb]

This is JMHO.
Costco has a money back guarantee. Except recently instituted electronics, anything you buy at Costco, you can return regardless of how long you’ve had this item. I know someone that returned a vacuum cleaner after a couple of years. People return heaters they purchased in the winter. It is their policy. They want customers to be satisfied.

I’m not sure if everyone is familiar w/this. Most people are, especially if they shop at Costco. Some people think it’s wrong to do this, return something. They’ll take your purchase back, even w/out receipt. They just need your card and they have a record of your purchase in the computer.

Now, why is it wrong if it is Costco’s very own policy. They are betting most people won’t return items. But if it’s their policy, then some people take advantage of that. It is an understanding between customer and Costco.

If you enter into a contract w/a bank for a loan to buy the house and they don’t even bother to check if you can even make the payments and lo and behold you can’t, then the bank takes the house which you purchased w/their loan and they have held as collateral.

This should not really be considered wrong. It’s the terms of the contract and the bank agreed to this, as you have.

Sucks for everyone playing by the rules, but that’s how it is. The banks get the shaft. It will be less painful than have the people become mortgage slaves at the expense of taxpayers.

[jpinpb]

This is JMHO.
Costco has a money back guarantee. Except recently instituted electronics, anything you buy at Costco, you can return regardless of how long you’ve had this item. I know someone that returned a vacuum cleaner after a couple of years. People return heaters they purchased in the winter. It is their policy. They want customers to be satisfied.

I’m not sure if everyone is familiar w/this. Most people are, especially if they shop at Costco. Some people think it’s wrong to do this, return something. They’ll take your purchase back, even w/out receipt. They just need your card and they have a record of your purchase in the computer.

Now, why is it wrong if it is Costco’s very own policy. They are betting most people won’t return items. But if it’s their policy, then some people take advantage of that. It is an understanding between customer and Costco.

If you enter into a contract w/a bank for a loan to buy the house and they don’t even bother to check if you can even make the payments and lo and behold you can’t, then the bank takes the house which you purchased w/their loan and they have held as collateral.

This should not really be considered wrong. It’s the terms of the contract and the bank agreed to this, as you have.

Sucks for everyone playing by the rules, but that’s how it is. The banks get the shaft. It will be less painful than have the people become mortgage slaves at the expense of taxpayers.

[jpinpb]

This is JMHO.
Costco has a money back guarantee. Except recently instituted electronics, anything you buy at Costco, you can return regardless of how long you’ve had this item. I know someone that returned a vacuum cleaner after a couple of years. People return heaters they purchased in the winter. It is their policy. They want customers to be satisfied.

I’m not sure if everyone is familiar w/this. Most people are, especially if they shop at Costco. Some people think it’s wrong to do this, return something. They’ll take your purchase back, even w/out receipt. They just need your card and they have a record of your purchase in the computer.

Now, why is it wrong if it is Costco’s very own policy. They are betting most people won’t return items. But if it’s their policy, then some people take advantage of that. It is an understanding between customer and Costco.

If you enter into a contract w/a bank for a loan to buy the house and they don’t even bother to check if you can even make the payments and lo and behold you can’t, then the bank takes the house which you purchased w/their loan and they have held as collateral.

This should not really be considered wrong. It’s the terms of the contract and the bank agreed to this, as you have.

Sucks for everyone playing by the rules, but that’s how it is. The banks get the shaft. It will be less painful than have the people become mortgage slaves at the expense of taxpayers.

[jpinpb]

This is JMHO.
Costco has a money back guarantee. Except recently instituted electronics, anything you buy at Costco, you can return regardless of how long you’ve had this item. I know someone that returned a vacuum cleaner after a couple of years. People return heaters they purchased in the winter. It is their policy. They want customers to be satisfied.

I’m not sure if everyone is familiar w/this. Most people are, especially if they shop at Costco. Some people think it’s wrong to do this, return something. They’ll take your purchase back, even w/out receipt. They just need your card and they have a record of your purchase in the computer.

Now, why is it wrong if it is Costco’s very own policy. They are betting most people won’t return items. But if it’s their policy, then some people take advantage of that. It is an understanding between customer and Costco.

If you enter into a contract w/a bank for a loan to buy the house and they don’t even bother to check if you can even make the payments and lo and behold you can’t, then the bank takes the house which you purchased w/their loan and they have held as collateral.

This should not really be considered wrong. It’s the terms of the contract and the bank agreed to this, as you have.

Sucks for everyone playing by the rules, but that’s how it is. The banks get the shaft. It will be less painful than have the people become mortgage slaves at the expense of taxpayers.

[citydweller]

DJNinSD, hope some of this info is helpful.

[citydweller]

DJNinSD, hope some of this info is helpful.

[citydweller]

DJNinSD, hope some of this info is helpful.

[citydweller]

DJNinSD, hope some of this info is helpful.

[Mayer]

http://www.youwalkaway.com was just on Channel 8 news at 5 PM and got some free advertising. Looks like it’s getting a little coverage from the MSM as well now. They gave a little description of the company and introduced the two founders. It got about three minutes worth of coverage.

[Mayer]

http://www.youwalkaway.com was just on Channel 8 news at 5 PM and got some free advertising. Looks like it’s getting a little coverage from the MSM as well now. They gave a little description of the company and introduced the two founders. It got about three minutes worth of coverage.

[Mayer]

http://www.youwalkaway.com was just on Channel 8 news at 5 PM and got some free advertising. Looks like it’s getting a little coverage from the MSM as well now. They gave a little description of the company and introduced the two founders. It got about three minutes worth of coverage.

[Mayer]

http://www.youwalkaway.com was just on Channel 8 news at 5 PM and got some free advertising. Looks like it’s getting a little coverage from the MSM as well now. They gave a little description of the company and introduced the two founders. It got about three minutes worth of coverage.

[jpinpb]

Why Not Just Walk Away from a Home?
They have made news on NPR:
http://www.npr.org/templates/story/story.php?storyId=19346659

[Deal Hunter]

Walkers make great Renters.

2 of our rentals had leases that expired in Dec. The former rent rate was $1025/mo. We put the house back on the rental market in January and got 16 applicants right away. The highest bids came from people who walked away from their homes and accepted foreclosure.

The only thing on their credit was the 90 and 120 day lates on their mortgages. Our prop manager did disclose to us that the applicants got foreclosed upon. However, they offered $1450/mo for the available house. We accepted and they put up 2 months rent as deposit.

My second property went to another “walker” that begged us to consider a rent-to-own/lease op. This one also offered above the asking ($1300/mo). With this one, we decided to do a 6 month lease to be replaced with a lease op as long as he pays on time.

The walking away phenomenon is working out great for me, as a landlord – so far. I’ll let you know in a few months if I get walked away from myself, but so far, so good.

[Deal Hunter]

Walkers make great Renters.

2 of our rentals had leases that expired in Dec. The former rent rate was $1025/mo. We put the house back on the rental market in January and got 16 applicants right away. The highest bids came from people who walked away from their homes and accepted foreclosure.

The only thing on their credit was the 90 and 120 day lates on their mortgages. Our prop manager did disclose to us that the applicants got foreclosed upon. However, they offered $1450/mo for the available house. We accepted and they put up 2 months rent as deposit.

My second property went to another “walker” that begged us to consider a rent-to-own/lease op. This one also offered above the asking ($1300/mo). With this one, we decided to do a 6 month lease to be replaced with a lease op as long as he pays on time.

The walking away phenomenon is working out great for me, as a landlord – so far. I’ll let you know in a few months if I get walked away from myself, but so far, so good.

[Deal Hunter]

Walkers make great Renters.

2 of our rentals had leases that expired in Dec. The former rent rate was $1025/mo. We put the house back on the rental market in January and got 16 applicants right away. The highest bids came from people who walked away from their homes and accepted foreclosure.

The only thing on their credit was the 90 and 120 day lates on their mortgages. Our prop manager did disclose to us that the applicants got foreclosed upon. However, they offered $1450/mo for the available house. We accepted and they put up 2 months rent as deposit.

My second property went to another “walker” that begged us to consider a rent-to-own/lease op. This one also offered above the asking ($1300/mo). With this one, we decided to do a 6 month lease to be replaced with a lease op as long as he pays on time.

The walking away phenomenon is working out great for me, as a landlord – so far. I’ll let you know in a few months if I get walked away from myself, but so far, so good.

[Deal Hunter]

Walkers make great Renters.

2 of our rentals had leases that expired in Dec. The former rent rate was $1025/mo. We put the house back on the rental market in January and got 16 applicants right away. The highest bids came from people who walked away from their homes and accepted foreclosure.

The only thing on their credit was the 90 and 120 day lates on their mortgages. Our prop manager did disclose to us that the applicants got foreclosed upon. However, they offered $1450/mo for the available house. We accepted and they put up 2 months rent as deposit.

My second property went to another “walker” that begged us to consider a rent-to-own/lease op. This one also offered above the asking ($1300/mo). With this one, we decided to do a 6 month lease to be replaced with a lease op as long as he pays on time.

The walking away phenomenon is working out great for me, as a landlord – so far. I’ll let you know in a few months if I get walked away from myself, but so far, so good.

[Deal Hunter]

Walkers make great Renters.

2 of our rentals had leases that expired in Dec. The former rent rate was $1025/mo. We put the house back on the rental market in January and got 16 applicants right away. The highest bids came from people who walked away from their homes and accepted foreclosure.

The only thing on their credit was the 90 and 120 day lates on their mortgages. Our prop manager did disclose to us that the applicants got foreclosed upon. However, they offered $1450/mo for the available house. We accepted and they put up 2 months rent as deposit.

My second property went to another “walker” that begged us to consider a rent-to-own/lease op. This one also offered above the asking ($1300/mo). With this one, we decided to do a 6 month lease to be replaced with a lease op as long as he pays on time.

The walking away phenomenon is working out great for me, as a landlord – so far. I’ll let you know in a few months if I get walked away from myself, but so far, so good.

[jpinpb]

Why Not Just Walk Away from a Home?
They have made news on NPR:
http://www.npr.org/templates/story/story.php?storyId=19346659

[jpinpb]

Why Not Just Walk Away from a Home?
They have made news on NPR:
http://www.npr.org/templates/story/story.php?storyId=19346659

[jpinpb]

Why Not Just Walk Away from a Home?
They have made news on NPR:
http://www.npr.org/templates/story/story.php?storyId=19346659

[jpinpb]

Why Not Just Walk Away from a Home?
They have made news on NPR:
http://www.npr.org/templates/story/story.php?storyId=19346659

[Author]

Posts