[XBoxBoy]

[quote]Chetly asked Paul about the assertion by many prominent economists — including Nobel-winning New York Times columnist Paul Krugman — that say the Federal Reserve rescued the global economy from another Great Depression last year.[/quote]

Somehow the main stream media always seems to overlook the fact that the fed was one of the key causes of the crisis in the first place.

[XBoxBoy]

[quote]Chetly asked Paul about the assertion by many prominent economists — including Nobel-winning New York Times columnist Paul Krugman — that say the Federal Reserve rescued the global economy from another Great Depression last year.[/quote]

Somehow the main stream media always seems to overlook the fact that the fed was one of the key causes of the crisis in the first place.

[XBoxBoy]

[quote]Chetly asked Paul about the assertion by many prominent economists — including Nobel-winning New York Times columnist Paul Krugman — that say the Federal Reserve rescued the global economy from another Great Depression last year.[/quote]

Somehow the main stream media always seems to overlook the fact that the fed was one of the key causes of the crisis in the first place.

[XBoxBoy]

[quote=temeculaguy]When buying at the courthouse, you have settle with all the liens[/quote]

I’m curious about this part. Suppose you bought a place off the steps, and it had a 200k second on it. Essentially, you just bought that second, correct? Would the holder of the second be able to then demand 200k from you?

If the bank took it back, wouldn’t the second get wiped out? Why does it get wiped out when the bank takes it back but not when a third party takes it?

I think what TG is saying is correct, at least I’ve heard this before, but I’m just trying to understand this better.

Also, I’ve heard that if you buy a place on the courthouse steps, there could be other liens that you don’t even know about. For instance, a contractor who did some work on the property but didn’t get paid for it, could be in the process of filing the lien. The lien might not show up for a month or two after the auction, but when it did you would be libel for that. Anyone know if this is true or just internet misinformation?

Thanks,

XBoxBoy

[XBoxBoy]

[quote=temeculaguy]When buying at the courthouse, you have settle with all the liens[/quote]

I’m curious about this part. Suppose you bought a place off the steps, and it had a 200k second on it. Essentially, you just bought that second, correct? Would the holder of the second be able to then demand 200k from you?

If the bank took it back, wouldn’t the second get wiped out? Why does it get wiped out when the bank takes it back but not when a third party takes it?

I think what TG is saying is correct, at least I’ve heard this before, but I’m just trying to understand this better.

Also, I’ve heard that if you buy a place on the courthouse steps, there could be other liens that you don’t even know about. For instance, a contractor who did some work on the property but didn’t get paid for it, could be in the process of filing the lien. The lien might not show up for a month or two after the auction, but when it did you would be libel for that. Anyone know if this is true or just internet misinformation?

Thanks,

XBoxBoy

[XBoxBoy]

[quote=temeculaguy]When buying at the courthouse, you have settle with all the liens[/quote]

I’m curious about this part. Suppose you bought a place off the steps, and it had a 200k second on it. Essentially, you just bought that second, correct? Would the holder of the second be able to then demand 200k from you?

If the bank took it back, wouldn’t the second get wiped out? Why does it get wiped out when the bank takes it back but not when a third party takes it?

I think what TG is saying is correct, at least I’ve heard this before, but I’m just trying to understand this better.

Also, I’ve heard that if you buy a place on the courthouse steps, there could be other liens that you don’t even know about. For instance, a contractor who did some work on the property but didn’t get paid for it, could be in the process of filing the lien. The lien might not show up for a month or two after the auction, but when it did you would be libel for that. Anyone know if this is true or just internet misinformation?

Thanks,

XBoxBoy

[XBoxBoy]

[quote=temeculaguy]When buying at the courthouse, you have settle with all the liens[/quote]

I’m curious about this part. Suppose you bought a place off the steps, and it had a 200k second on it. Essentially, you just bought that second, correct? Would the holder of the second be able to then demand 200k from you?

If the bank took it back, wouldn’t the second get wiped out? Why does it get wiped out when the bank takes it back but not when a third party takes it?

I think what TG is saying is correct, at least I’ve heard this before, but I’m just trying to understand this better.

Also, I’ve heard that if you buy a place on the courthouse steps, there could be other liens that you don’t even know about. For instance, a contractor who did some work on the property but didn’t get paid for it, could be in the process of filing the lien. The lien might not show up for a month or two after the auction, but when it did you would be libel for that. Anyone know if this is true or just internet misinformation?

Thanks,

XBoxBoy

[XBoxBoy]

[quote=temeculaguy]When buying at the courthouse, you have settle with all the liens[/quote]

I’m curious about this part. Suppose you bought a place off the steps, and it had a 200k second on it. Essentially, you just bought that second, correct? Would the holder of the second be able to then demand 200k from you?

If the bank took it back, wouldn’t the second get wiped out? Why does it get wiped out when the bank takes it back but not when a third party takes it?

I think what TG is saying is correct, at least I’ve heard this before, but I’m just trying to understand this better.

Also, I’ve heard that if you buy a place on the courthouse steps, there could be other liens that you don’t even know about. For instance, a contractor who did some work on the property but didn’t get paid for it, could be in the process of filing the lien. The lien might not show up for a month or two after the auction, but when it did you would be libel for that. Anyone know if this is true or just internet misinformation?

Thanks,

XBoxBoy

[XBoxBoy]

Thanks for the thorough explanation. Unbelievable that it took 1 3/4 years for them to process your application. Wonder how many people apply only to see their property decline even more in value?

XBoxBoy

[XBoxBoy]

Thanks for the thorough explanation. Unbelievable that it took 1 3/4 years for them to process your application. Wonder how many people apply only to see their property decline even more in value?

XBoxBoy

[XBoxBoy]

Thanks for the thorough explanation. Unbelievable that it took 1 3/4 years for them to process your application. Wonder how many people apply only to see their property decline even more in value?

XBoxBoy

[XBoxBoy]

Thanks for the thorough explanation. Unbelievable that it took 1 3/4 years for them to process your application. Wonder how many people apply only to see their property decline even more in value?

XBoxBoy

[XBoxBoy]

Thanks for the thorough explanation. Unbelievable that it took 1 3/4 years for them to process your application. Wonder how many people apply only to see their property decline even more in value?

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[XBoxBoy]

[quote=SD Realtor]The final walk through occurs within 5 days of close of escrow and is used to essentially verify the home is not trashed.[/quote]

I think that’s the answer I was wondering about. In a short sale, do you have a typical escrow, where you don’t close until the previous owners are out. And if the previous owners refuse to leave can you refuse to close. (I know that in any type of sale, there can be an agreement with the previous sellers that they won’t vacate until some time after the sale. But personally I wouldn’t agree to that with someone who I feel has been doing all they can to get free rent.)

And I do understand that the hard part would be just getting a deal done, but that’s the part I already know, so I don’t have questions about that.

Thanks again,

XBoxBoy

[Author]

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