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ucodegen
ParticipantIt is the new entitlement mentality.
You don’t own the home until you finish paying for it. Until then, all you have is roughly a lease-option-to-buy from the bank with a few more legal protections.
Don’t pay a lease and you are out. Don’t pay a mortgage and you are out.
The Earls have been ordered to move out a week from today, but their attorney, Michael Pines, says they may move back in, saying they can legally do that since the judge didn’t issue a permanent injunction.
Unless you consider being put in prison for contempt of court(they were ordered out), B&E, trespass, vandalism, felony theft(amounts greater than 10k).
He’s reportedly helped other Southern California families break back into their old homes, and Pines claims that mortgage securitization calls into question every commercial and residential loan going back decades.
I wonder how much longer this guy will have his ABA license?
ParticipantIt is the new entitlement mentality.
You don’t own the home until you finish paying for it. Until then, all you have is roughly a lease-option-to-buy from the bank with a few more legal protections.
Don’t pay a lease and you are out. Don’t pay a mortgage and you are out.
The Earls have been ordered to move out a week from today, but their attorney, Michael Pines, says they may move back in, saying they can legally do that since the judge didn’t issue a permanent injunction.
Unless you consider being put in prison for contempt of court(they were ordered out), B&E, trespass, vandalism, felony theft(amounts greater than 10k).
He’s reportedly helped other Southern California families break back into their old homes, and Pines claims that mortgage securitization calls into question every commercial and residential loan going back decades.
I wonder how much longer this guy will have his ABA license?
October 15, 2010 at 12:51 PM in reply to: My sale is getting sketchy – BofA shenanigans – advice needed! #618626Participant[quote permabear]Anyone have input on whether I should relist the house and get back-up offers, or even go so far as to cancel their offer and start over?
[/quote]Do the ‘failure to perform’ route. It makes sure that the ‘T’s are crossed and ‘i’s are dotted. The purchase was a contract that they failed to perform on. If you back out, it could be said that you failed to perform.Once that is done, relist. If they are able to clear up the funding before anyone else gives you a solid offer, then they can buy it, otherwise go with the next buyer. – treat it as a business deal (which is what it really is). Time is also money in this case, and you are rolling into the RE ‘dead months'(relatively speaking).
[quote permabear]I should mention my home is very desirable, ocean views, highly-upgraded, and it literally had offers on day one.
[/quote]Shouldn’t be too hard to get another buyer. Allow some flexibility on price. You may not get what the original purchaser was offering, but you also have a time/money issue and probably a carrying cost.Did you keep a record of other people who offered? You might want to check if they have funding/can complete their offer.
October 15, 2010 at 12:51 PM in reply to: My sale is getting sketchy – BofA shenanigans – advice needed! #618709Participant[quote permabear]Anyone have input on whether I should relist the house and get back-up offers, or even go so far as to cancel their offer and start over?
[/quote]Do the ‘failure to perform’ route. It makes sure that the ‘T’s are crossed and ‘i’s are dotted. The purchase was a contract that they failed to perform on. If you back out, it could be said that you failed to perform.Once that is done, relist. If they are able to clear up the funding before anyone else gives you a solid offer, then they can buy it, otherwise go with the next buyer. – treat it as a business deal (which is what it really is). Time is also money in this case, and you are rolling into the RE ‘dead months'(relatively speaking).
[quote permabear]I should mention my home is very desirable, ocean views, highly-upgraded, and it literally had offers on day one.
[/quote]Shouldn’t be too hard to get another buyer. Allow some flexibility on price. You may not get what the original purchaser was offering, but you also have a time/money issue and probably a carrying cost.Did you keep a record of other people who offered? You might want to check if they have funding/can complete their offer.
October 15, 2010 at 12:51 PM in reply to: My sale is getting sketchy – BofA shenanigans – advice needed! #619259Participant[quote permabear]Anyone have input on whether I should relist the house and get back-up offers, or even go so far as to cancel their offer and start over?
[/quote]Do the ‘failure to perform’ route. It makes sure that the ‘T’s are crossed and ‘i’s are dotted. The purchase was a contract that they failed to perform on. If you back out, it could be said that you failed to perform.Once that is done, relist. If they are able to clear up the funding before anyone else gives you a solid offer, then they can buy it, otherwise go with the next buyer. – treat it as a business deal (which is what it really is). Time is also money in this case, and you are rolling into the RE ‘dead months'(relatively speaking).
[quote permabear]I should mention my home is very desirable, ocean views, highly-upgraded, and it literally had offers on day one.
[/quote]Shouldn’t be too hard to get another buyer. Allow some flexibility on price. You may not get what the original purchaser was offering, but you also have a time/money issue and probably a carrying cost.Did you keep a record of other people who offered? You might want to check if they have funding/can complete their offer.
October 15, 2010 at 12:51 PM in reply to: My sale is getting sketchy – BofA shenanigans – advice needed! #619376Participant[quote permabear]Anyone have input on whether I should relist the house and get back-up offers, or even go so far as to cancel their offer and start over?
[/quote]Do the ‘failure to perform’ route. It makes sure that the ‘T’s are crossed and ‘i’s are dotted. The purchase was a contract that they failed to perform on. If you back out, it could be said that you failed to perform.Once that is done, relist. If they are able to clear up the funding before anyone else gives you a solid offer, then they can buy it, otherwise go with the next buyer. – treat it as a business deal (which is what it really is). Time is also money in this case, and you are rolling into the RE ‘dead months'(relatively speaking).
[quote permabear]I should mention my home is very desirable, ocean views, highly-upgraded, and it literally had offers on day one.
[/quote]Shouldn’t be too hard to get another buyer. Allow some flexibility on price. You may not get what the original purchaser was offering, but you also have a time/money issue and probably a carrying cost.Did you keep a record of other people who offered? You might want to check if they have funding/can complete their offer.
October 15, 2010 at 12:51 PM in reply to: My sale is getting sketchy – BofA shenanigans – advice needed! #619696Participant[quote permabear]Anyone have input on whether I should relist the house and get back-up offers, or even go so far as to cancel their offer and start over?
[/quote]Do the ‘failure to perform’ route. It makes sure that the ‘T’s are crossed and ‘i’s are dotted. The purchase was a contract that they failed to perform on. If you back out, it could be said that you failed to perform.Once that is done, relist. If they are able to clear up the funding before anyone else gives you a solid offer, then they can buy it, otherwise go with the next buyer. – treat it as a business deal (which is what it really is). Time is also money in this case, and you are rolling into the RE ‘dead months'(relatively speaking).
[quote permabear]I should mention my home is very desirable, ocean views, highly-upgraded, and it literally had offers on day one.
[/quote]Shouldn’t be too hard to get another buyer. Allow some flexibility on price. You may not get what the original purchaser was offering, but you also have a time/money issue and probably a carrying cost.Did you keep a record of other people who offered? You might want to check if they have funding/can complete their offer.
Participant[quote tiny tim]
IT’S FUNNY YOU DON’T COMMENT ON ANY OF THE CORE FACTS OF THE DISCUSSION.
[/quote]
How about not changing the core facts of the discussion by re-editing the topic post!Participant[quote tiny tim]
IT’S FUNNY YOU DON’T COMMENT ON ANY OF THE CORE FACTS OF THE DISCUSSION.
[/quote]
How about not changing the core facts of the discussion by re-editing the topic post!Participant[quote tiny tim]
IT’S FUNNY YOU DON’T COMMENT ON ANY OF THE CORE FACTS OF THE DISCUSSION.
[/quote]
How about not changing the core facts of the discussion by re-editing the topic post!Participant[quote tiny tim]
IT’S FUNNY YOU DON’T COMMENT ON ANY OF THE CORE FACTS OF THE DISCUSSION.
[/quote]
How about not changing the core facts of the discussion by re-editing the topic post!Participant[quote tiny tim]
IT’S FUNNY YOU DON’T COMMENT ON ANY OF THE CORE FACTS OF THE DISCUSSION.
[/quote]
How about not changing the core facts of the discussion by re-editing the topic post!Participant[quote tangouniform]
She either works for NOAA or she somehow found a way to hook up a Teletype model ASR-33 to the internet.
[/quote]
That brings back memories… sssslllllooooooowwww ones.
I should check if I still have paper tape in some of my old computer stuff boxes.[quote BigGovernmentIsGood]
..NOT WESTERN UNION. STOP…
[/quote]
Funny you should mention western union. The ASR-32 used Baudot code on its paper tape, which was adopted by Western Union. The ASR-33 used ASCI.Now I feel real old….
Participant[quote tangouniform]
She either works for NOAA or she somehow found a way to hook up a Teletype model ASR-33 to the internet.
[/quote]
That brings back memories… sssslllllooooooowwww ones.
I should check if I still have paper tape in some of my old computer stuff boxes.[quote BigGovernmentIsGood]
..NOT WESTERN UNION. STOP…
[/quote]
Funny you should mention western union. The ASR-32 used Baudot code on its paper tape, which was adopted by Western Union. The ASR-33 used ASCI.Now I feel real old….
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