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  • April 13, 2009 at 8:58 AM in reply to: What happens when junior lien foreclose on the house? #380483
    cv2
    Participant

    Thanks so much for all the great advices. I have alert our board to this situation and they will act on it.

    Thanks!

    April 13, 2009 at 8:58 AM in reply to: What happens when junior lien foreclose on the house? #380611
    cv2
    Participant

    Thanks so much for all the great advices. I have alert our board to this situation and they will act on it.

    Thanks!

    April 12, 2009 at 7:28 PM in reply to: What happens when junior lien foreclose on the house? #379733
    cv2
    Participant

    If this is so unfair to other homeowners. A irresponsible person bought at the top of the market. He got a zero-down ARM and rent it out. When the market goes down, he just stop paying HOA fee and property taxes while taking in rents. All he need to do is to pay his mortgage and he will forever live off other homeowners unless the market recovers.

    Let’s say HOA got the house and have no intention to pay the mortgage because the mortgage is not even in HOA’s name. What will happen now? I assume the mortgage holder could foreclose now. How would this affects the HOA? Does the HOA have credit scores, like us regular folks? Can the mortgage has any recourse against the HOA?

    Thanks.

    April 12, 2009 at 7:28 PM in reply to: What happens when junior lien foreclose on the house? #380006
    cv2
    Participant

    If this is so unfair to other homeowners. A irresponsible person bought at the top of the market. He got a zero-down ARM and rent it out. When the market goes down, he just stop paying HOA fee and property taxes while taking in rents. All he need to do is to pay his mortgage and he will forever live off other homeowners unless the market recovers.

    Let’s say HOA got the house and have no intention to pay the mortgage because the mortgage is not even in HOA’s name. What will happen now? I assume the mortgage holder could foreclose now. How would this affects the HOA? Does the HOA have credit scores, like us regular folks? Can the mortgage has any recourse against the HOA?

    Thanks.

    April 12, 2009 at 7:28 PM in reply to: What happens when junior lien foreclose on the house? #380190
    cv2
    Participant

    If this is so unfair to other homeowners. A irresponsible person bought at the top of the market. He got a zero-down ARM and rent it out. When the market goes down, he just stop paying HOA fee and property taxes while taking in rents. All he need to do is to pay his mortgage and he will forever live off other homeowners unless the market recovers.

    Let’s say HOA got the house and have no intention to pay the mortgage because the mortgage is not even in HOA’s name. What will happen now? I assume the mortgage holder could foreclose now. How would this affects the HOA? Does the HOA have credit scores, like us regular folks? Can the mortgage has any recourse against the HOA?

    Thanks.

    April 12, 2009 at 7:28 PM in reply to: What happens when junior lien foreclose on the house? #380237
    cv2
    Participant

    If this is so unfair to other homeowners. A irresponsible person bought at the top of the market. He got a zero-down ARM and rent it out. When the market goes down, he just stop paying HOA fee and property taxes while taking in rents. All he need to do is to pay his mortgage and he will forever live off other homeowners unless the market recovers.

    Let’s say HOA got the house and have no intention to pay the mortgage because the mortgage is not even in HOA’s name. What will happen now? I assume the mortgage holder could foreclose now. How would this affects the HOA? Does the HOA have credit scores, like us regular folks? Can the mortgage has any recourse against the HOA?

    Thanks.

    April 12, 2009 at 7:28 PM in reply to: What happens when junior lien foreclose on the house? #380364
    cv2
    Participant

    If this is so unfair to other homeowners. A irresponsible person bought at the top of the market. He got a zero-down ARM and rent it out. When the market goes down, he just stop paying HOA fee and property taxes while taking in rents. All he need to do is to pay his mortgage and he will forever live off other homeowners unless the market recovers.

    Let’s say HOA got the house and have no intention to pay the mortgage because the mortgage is not even in HOA’s name. What will happen now? I assume the mortgage holder could foreclose now. How would this affects the HOA? Does the HOA have credit scores, like us regular folks? Can the mortgage has any recourse against the HOA?

    Thanks.

    April 10, 2009 at 2:49 PM in reply to: Will rents create a price floor despite the mini rental bubble? #378946
    cv2
    Participant

    Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?

    [quote=Ren]Look to Murrieta/Temecula to see the future of San Diego. Properties there are very cash-flow-positive, they’re being bought up by investors, and the rental market is being flooded. [/quote]

    April 10, 2009 at 2:49 PM in reply to: Will rents create a price floor despite the mini rental bubble? #379221
    cv2
    Participant

    Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?

    [quote=Ren]Look to Murrieta/Temecula to see the future of San Diego. Properties there are very cash-flow-positive, they’re being bought up by investors, and the rental market is being flooded. [/quote]

    April 10, 2009 at 2:49 PM in reply to: Will rents create a price floor despite the mini rental bubble? #379403
    cv2
    Participant

    Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?

    [quote=Ren]Look to Murrieta/Temecula to see the future of San Diego. Properties there are very cash-flow-positive, they’re being bought up by investors, and the rental market is being flooded. [/quote]

    April 10, 2009 at 2:49 PM in reply to: Will rents create a price floor despite the mini rental bubble? #379444
    cv2
    Participant

    Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?

    [quote=Ren]Look to Murrieta/Temecula to see the future of San Diego. Properties there are very cash-flow-positive, they’re being bought up by investors, and the rental market is being flooded. [/quote]

    April 10, 2009 at 2:49 PM in reply to: Will rents create a price floor despite the mini rental bubble? #379571
    cv2
    Participant

    Ren, is this perceived “very cash-flow-positive” or truely great opportunity? I am wondering, does the local economy have enough support for the rentals?

    [quote=Ren]Look to Murrieta/Temecula to see the future of San Diego. Properties there are very cash-flow-positive, they’re being bought up by investors, and the rental market is being flooded. [/quote]

    April 9, 2009 at 1:33 PM in reply to: Will rents create a price floor despite the mini rental bubble? #378476
    cv2
    Participant

    In my complex, lots of LL are in NOD or later. That means that they have taken the rent but did not pay their expenses, such as Mortgage, HOA fees and property taxes. Of course they do not care who is renting as long as he can squeeze the last penny out of this “investment”. Actually I think they would prefer people with less perfect records because those people will unlikely come after them when the home got foreclosed.

    April 9, 2009 at 1:33 PM in reply to: Will rents create a price floor despite the mini rental bubble? #378752
    cv2
    Participant

    In my complex, lots of LL are in NOD or later. That means that they have taken the rent but did not pay their expenses, such as Mortgage, HOA fees and property taxes. Of course they do not care who is renting as long as he can squeeze the last penny out of this “investment”. Actually I think they would prefer people with less perfect records because those people will unlikely come after them when the home got foreclosed.

    April 9, 2009 at 1:33 PM in reply to: Will rents create a price floor despite the mini rental bubble? #378978
    cv2
    Participant

    In my complex, lots of LL are in NOD or later. That means that they have taken the rent but did not pay their expenses, such as Mortgage, HOA fees and property taxes. Of course they do not care who is renting as long as he can squeeze the last penny out of this “investment”. Actually I think they would prefer people with less perfect records because those people will unlikely come after them when the home got foreclosed.

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Viewing 15 posts - 136 through 150 (of 507 total)
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