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April 3, 2015 at 5:10 PM in reply to: So how will this FNMA auction work for “small investors?” #784450
spdrun
ParticipantIt’s like buying a vehicle at a US Customs auction from a collection that has been gathering dust on a vacant dirt lot for up to TWO YEARS and none of them have even been driven since they were “detained” in secondary.
No it isn’t. It’s like buying the registration card and being told “you might be able to find the vehicle over there.”
April 3, 2015 at 3:47 PM in reply to: So how will this FNMA auction work for “small investors?” #784446ParticipantPart of it might be FNMA wanting to appear like the good guys and disclaiming responsibility for the foreclosures that will happen.
April 3, 2015 at 11:33 AM in reply to: So how will this FNMA auction work for “small investors?” #784432ParticipantThey’re essentially selling the debt to other banks which will either modify the loans, negotiate short sales, or foreclose, same as FNMA is doing itself. For small investors looking to buy properties, no difference, except that the properties that were foreclosed will end up on the new loan owner’s sites instead of on Homepath.com.
In order to gain a rentable property, this will involve going through the entire pre-foreclosure and foreclosure process. Better to buy an REO, short sale, or sheriff’s sale after someone else has gone through the legwork.
April 3, 2015 at 10:23 AM in reply to: Yet another List (Ten best Cities to live in the USA) #784427ParticipantDoesn’t HI also have some serious mountains? Is there any settlement in the interior?
ParticipantSince when is no garage “living in the ghetto?”
ParticipantFlyerInHi:
1. vegetation on the East Coast grows faster, so is harder to keep trimmed.
2. no HOAs in most cities in NJ in SFR areas. This is a good thing. I’d rather trade a bit more dirt for spontaneity and houses painted pretty non-HOA-approved colors.
3. “riff-raff” makes things interesting. I don’t want to be surrounded by exact clones of myself. Boring.ParticipantFlyerInHi, you talk about produce from Mexico, but what’s their water situation? I doubt that weather conditions just magically stop at national borders, but I might be wrong.
ParticipantI think package stores (wine + liquor) have to close by midnight in NYC. Technically, the 10 pm rule in NJ is only for hard liquor. There are stores that sell beer and wine later, subject to local ordinance. Essentially, everything is local in NJ. Municipalities have a lot more power than in CA.
ParticipantNit to pick: a co-op is not a condo, even in NY. In a condo, you own the tax lot on which the condo sits. In a co-op, you own a share in the corporation that owns the building.
ParticipantIf they prefer it there vs California, why restrict them?
ParticipantIt’s not laziness. It’s prioritization. I’d rather be seeing the world than being a slave to a fucking box of ticky-tacky, because society expects me to.
ParticipantGet the kiddoes to help — at least they’ll learn some useful stuff other than being able to stroke an iPad.
March 30, 2015 at 6:40 PM in reply to: Foreclosure deadbeats are now rewarded with free homes #784325ParticipantDespite this, there are about 3x the number of foreclosures making it through the system and sitting as REOs (in NJ) as last year. I suspect that for every person getting a “free home” there are 5x that number that don’t.
ParticipantFlyerInHI – if you pack more than a backpack per person for a few days’ trip, you’re overpacking. When I see people lugging rollaboards up stairs, I think “chumps.”
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