Housing Rolling Along 2

Quote from gortaur:

I dont understand go why they dont just walk away and let the property go into forclosure and file for bankruptcy?What do they have to lose their credit is already probably below 550. The bank would probably forgive them the difference between the sales price and the loan amount and they would end up owing money to the big loan shark the IRS woth 18% interest + the taxes on the property. It just makes much more sense to me if they do that.
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I would agree they should go BK, at least under the old laws it would be a no brainer. And going BK sooner rather than later would help them get a fresh start, some people wait years and limp along prolonging the anguish, then eventually go BK anyway.

But the new BK laws are a different matter, at least from what I understand. I have no idea if it would still be a good idea...anyone???
 
Quote from onewaypockets:

I would agree they should go BK, at least under the old laws it would be a no brainer. And going BK sooner rather than later would help them get a fresh start, some people wait years and limp along prolonging the anguish, then eventually go BK anyway.

But the new BK laws are a different matter, at least from what I understand. I have no idea if it would still be a good idea...anyone???
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Looks like they will have no choice. If one were to believe that then the sooner the better. Maybe squirrel away some cash. Literally bury it in the ground somewhere.

1000 here, 1000 there.

John
 
Quote from jficquette:

Maybe squirrel away some cash. Literally bury it in the ground somewhere.

1000 here, 1000 there.

John
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Like little money "acorns"...hey, maybe squirrels are on to something, saving for the future??? Novel idea!
 
Quote from onewaypockets:

Like little money "acorns"...hey, maybe squirrels are on to something, saving for the future??? Novel idea!
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Squirrels ain't stupid. You won't ever see them spectulate in squirrel's nests.

Where is Dr. Dolittle when you need him?? lol

John
 
Quote from lilboy716:

http://www.nytimes.com/2006/03/11/t...5a1&ex=1142744400&partner=IWON&pagewanted=all


Some Finding Perils in Online Real Estate

By KATIE HAFNER
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Good post, but sad. Part of me thinks the deserve it, but it is too bad. Also not good for us normal homeowners that may want to sell in the next couple of years for a profit. Denver is #3 in the nation for highest percentage of foreclosures. I am glad I low balled when I bought this place 2 years ago:eek:
 
Quote from wareco:

Of course, all of this assumes that the ad is not a spoof. There's no charge for posting on Craigslist as far as I know.
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I am of the opinion that the ad is nothing more than a scam...they posted it and suddenly it is getting all around the internet..just like it got posted here...

I spoke with a girlfriend from out of state who told me she put her car for sale on Craigs and got all kinds of weird offers..offers like they will send a check for $5,000 MORE than her asking price but she would have to send them $1k first as showing good will....She got so many strange solicitations that she took her car off...

And the way these people keep saying they are good people, Christian people and the cancer angle with misspelled words makes my red flags go up...

I would bet money that it is pure 100% Horseshit!....someone is looking to scam someone imo!
 
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