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patientrenter
Participant“let me know how that strategy works”
patb, I am morally offended by this whole business of borrowing without repaying in full, so it’s very difficult for me to do it. But I am in no doubt that it’s easy for a large and growing number of people. I am also pretty sure that letting that happen is not a good idea.
Participant“let me know how that strategy works”
patb, I am morally offended by this whole business of borrowing without repaying in full, so it’s very difficult for me to do it. But I am in no doubt that it’s easy for a large and growing number of people. I am also pretty sure that letting that happen is not a good idea.
Participant“let me know how that strategy works”
patb, I am morally offended by this whole business of borrowing without repaying in full, so it’s very difficult for me to do it. But I am in no doubt that it’s easy for a large and growing number of people. I am also pretty sure that letting that happen is not a good idea.
Participant[quote=CA renter]……How are you calculating “real value”?[/quote]
Is it the price you REALly want? I want to earn $10 million a year. But, alas, I am earning less than my real value. Seriously, No-LA-SD-guy, if you are claiming that prices in a market segment are below their long-term trend values, or something like that, then bring the data. For example, the current prices for that market segment and the trend back through at least the bottom of the last cycle (1996), or preferably through a few cycles (so back to 1980, maybe).
Participant[quote=CA renter]……How are you calculating “real value”?[/quote]
Is it the price you REALly want? I want to earn $10 million a year. But, alas, I am earning less than my real value. Seriously, No-LA-SD-guy, if you are claiming that prices in a market segment are below their long-term trend values, or something like that, then bring the data. For example, the current prices for that market segment and the trend back through at least the bottom of the last cycle (1996), or preferably through a few cycles (so back to 1980, maybe).
Participant[quote=CA renter]……How are you calculating “real value”?[/quote]
Is it the price you REALly want? I want to earn $10 million a year. But, alas, I am earning less than my real value. Seriously, No-LA-SD-guy, if you are claiming that prices in a market segment are below their long-term trend values, or something like that, then bring the data. For example, the current prices for that market segment and the trend back through at least the bottom of the last cycle (1996), or preferably through a few cycles (so back to 1980, maybe).
Participant[quote=CA renter]……How are you calculating “real value”?[/quote]
Is it the price you REALly want? I want to earn $10 million a year. But, alas, I am earning less than my real value. Seriously, No-LA-SD-guy, if you are claiming that prices in a market segment are below their long-term trend values, or something like that, then bring the data. For example, the current prices for that market segment and the trend back through at least the bottom of the last cycle (1996), or preferably through a few cycles (so back to 1980, maybe).
Participant[quote=CA renter]……How are you calculating “real value”?[/quote]
Is it the price you REALly want? I want to earn $10 million a year. But, alas, I am earning less than my real value. Seriously, No-LA-SD-guy, if you are claiming that prices in a market segment are below their long-term trend values, or something like that, then bring the data. For example, the current prices for that market segment and the trend back through at least the bottom of the last cycle (1996), or preferably through a few cycles (so back to 1980, maybe).
Participantpatb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.
As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.
I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.
Participantpatb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.
As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.
I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.
Participantpatb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.
As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.
I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.
Participantpatb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.
As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.
I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.
Participantpatb, I’d be very interested to see the total nationwide amount, in excess of home proceeds, collected on these recourse mortages, measured as a % of the total foreclosed-on / shorted loan amount.
As many people have already pointed out, it is extraordinary for a lender to pursue a recourse mortgage loan beyond the home proceeds. It is so rare that I suspect no one considers the stats worth collecting, the collected amounts are so close to zero. Instead we have just a few anecdotes to
generate some impressions amongst the public.I think you’d have to walk up to the loan servicer’s office and tell them they are a bunch of morons, and then spit on them, before they’d even consider pursuing collection against you. If they come after you anyway, then have an attorney send ’em a letter. If that doesn’t work (and it almost always will), then threaten to talk to the newspaper. If that doesn’t work (and it almost always would for any TARP-indebted bank/servicer), then call your local state or Congressional rep and give a sob story. I guarantee you, the number of people who have to pay is tiny. Almost anyone who doesn’t want to pay can avoid paying.
I can’t resist mentioning that Barney Frank is my Congressman. Can you imagine Citibank taking the call from his office if they pursued a recourse loan they’d given me, after I’d provided a sob story to Barney’s office? I guarantee that loan would be “taken care of” within 24 hours.
Participant“Homes are not selling at real market prices”
I actually laughed when I read that. After all that has happened, there are still people who thing the (middle of a) downward leg of the never-ending up-and-down cycle in the housing market is “not real”. Only the price increases and peaks are real. It’s funny, but it does make me sigh too….
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