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are you guys crazy
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Now you know why they are getting foreclosed on in the first place.
Dumb people shouldn't own houses.
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sara
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This is what you get when human trash buys in over their heads and when the facade is over, they act like the human trash that they are.
What an embarrassment to society. How sad.
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nextyear
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Lets bail them out and make an example out of all those hard working stiffs who struggle to save and keep up with payments.
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LinOrlando
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So the banks made got into subprime mortgages they made loans with exotic terms and/or variable rates to people who have a history of not paying there bills... what did they expect?
This is exactly why the majority of people with bad credit have bad credit. They have histories of not paying there bills, getting evected/foreclosed on and/or tend to switch jobs often.
I think a 5 year old could figure out that if someone has a history of not paying there bills then it is probably not a good idea to lend them money.
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Accountability
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I have no idea what SmartBACK was attempting to say...
However, the real problem here is that the majority of Americans anymore refuse to be accountable for their own actions. It is so easy to blame someone else for your own mistakes. Obviously, in every one of these instances, it is the bank's fault that the homeowner could not pay their mortgage. Did the bank force these people to sign these contracts? No. You people who are trashing your foreclosed homes (none of which I am sure are reading this post) need to wisen up. You, and only you, are responsible for the situation you find yourself in. People, if it sounds too good to be true, it is! If you don't understand exactly what you are signing, don't sign. It seems pretty straight forward to me. But, along with a lack of accountability there also seems to be an extreme lack of common sense! If I was a bank, I would press charges against these homeowners who are trashing the properties. It is theft and vandalism!
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ruckus
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At least it's bring the value of these homes back down to normal. Maybe now I can afford to buy a home again.
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Pudbert_Savannah GA
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This is what happens when the lenders stopped requiring a substantial down payment.. Most of these losers who took mortgages that they KNEW they wouldn't be able to afford,, don't have anything invested. So then they act like the trash that they are and mess up the house,, because they're ticked off that somebody just didn't GIVE everything to them like they're used to,, you know,, free school lunches, everything...
They should have been offered free dog houses to move into after they evicted them.. It fits much better.
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Rai
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The banks created this mess when they started lending to people who would have never qualified in the first place. Helped out a struggling market at the time, but no one in this country looks ahead to where it would lead us.
Back in 2001 the Interest Only loan was the only way I could get into a house. I looked at the numbers, considered the possiblities and in the end stayed in the condo I was renting. It was the best solution for me at the time.
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Tired Commuter
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Heh. I have a loan with Countrywide, and as soon as my ARM penalty period expired, I got it refinanced as a fixed-rate.
Boy, you would not believe the misleading letters they send me now, trying to get me to refinance with another ARM or an interest-only loan, or a remodeling load.
This sort of misleading stuff should be illegal.
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Joe
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I thank God I'm not in this mess yet, but I think i'd take things that were paid for out of my pocket and weren't part of the mortgage.
Microwave, stove, sinks, etc stay as they are part of the house when it was built.
The fridge, garbage disposal, w/d, blinds, and all the fans, I paid for out of my pocket and I think I would take them.
If its in the mortgage, it should stay. If not, its yours.
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A Sad Commentary
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If the lenders knew they were "stitching" idiots up they deserve the wrecked empty properties they have now inherited.
The people who will now reap a fortune from this are those who have kept their cash safe and are able to move in, renovate the properties and resell them when the market revives.
Those who knowingly took on un repayable loans with the intention of speculating and who mistimed the market, hard luck, they can walk away.
Those who were desperate to own a home and got caught by unscrupulous brokers, you shoulda read the small print before signing. Most of you have upside down car loans too ! Go back to renting and take 2/3 jobs to make ends meet like before.
The millions of middle aged steady earning long term home owners will have less equity for some time but will largely remain unaffected unless they lose their middle management jobs.
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Facing facts
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What is going on right in front of our faces is unbelievable. It is all unthinkable and I am at a loss for words. But words are cheap and what this country excells at now is words. Jump to conclusions, paint all with a broad brush (and paint them as bad). Bad ethics trickle down not up, just like money. Put all these people you so willing call scum and trash, put them in our new well funded school system - Jail. Then open the immigration flood gates to the Chinese. They would love the houses and they would take good care of them. But, at 50 cents per hour they would not be able to pay the property taxes. Who cares about that. At least we would have our manufacturing jobs back and WalMart would not have to pay all those shipping charges to stock their shelves.
There is absolutly no purpose to try and get a grip. Just bicker and blame, bicker and blame and watch the wild fire spread.
The day will come when even your pacifier is yanked from your mouth.
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Dan
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You loan $$ to scum, you deserve what you get.
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Gloom and Doom
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What loads of dirty trash these people are. First, they buy a house they can't possibly afford trying to live the high life. Second, they can't make the payments and get foreclosed. Third, instead of getting their arses out and admitting their mistake, they have the balls to trash and tear up the place. They should be sued or prosecuted for any damage to the property they were supposed to be taking care of. Nothing but a bunch of sorry wads their Daddy's wish they could recall. And Uncle Sam wants to bail these worthless bastardos out.
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Lock em up
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They should lock the deadbeats up.
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GGG
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The post by "Accountability" is spot on. It's deplorable that people these days refuse to own up to their own actions. You see it every day whether it be in-over-their-head home buyers or sicko teenage kids videotaping a beating. These buyers chose to sign the papers and should have understood what they were signing. The buck stops with the signature. Understand the terms...
It's sick and costly to all legitimate homeowners that lenders have had to resort to offering cash for keys deals. Paying deadbeat lenders to act like a respectable human beings... Sick.
Lenders should plainly sue them for future earnings to recover damages. Make examples of them and maybe this kind of childish behavior will subside.
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Harleton Cheston
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This conduct is not out of anger or revenge. This is the type of people that shouldn't have received mortgages in the firt place. They are animals who don't even deserve section 8 housing. Most likely they were living under these conditions all along and it was brought to light when the property was vacated.
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MaryMargaret
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I am currently renting an apartment that is in pre-forclosure. Our landlord says that the mortgage payments are current.(lies)
Anyway, we are having real fun trying to find another place. How do I know the next place will not be foreclosed on?
I thought renting would be safe.
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Glasnos
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Rai wrote: The banks created this mess when they started lending to people who would have never qualified in the first place. Helped out a struggling market at the time, but no one in this country looks ahead to where it would lead us.
Back in 2001 the Interest Only loan was the only way I could get into a house. I looked at the numbers, considered the possiblities and in the end stayed in the condo I was renting. It was the best solution for me at the time. Don't blame the banks. This was PC driven government ... pressuring the banks to make loans to minorities who couldn't meet the lender's criteria. This policy was called racist ... but we clearly see it was prudence ... which was tossed out the window for PC rules.
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Home safe
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Our realtor told us once of people who poured concrete down all the drains in their foreclosed house, and another guy dismantled all the salvagable contents insisde and sold them including all light fixtures, cabinets, doors, appliances, etc.
Banks should not sell homes to whining children. Grow up and face things like adults people!
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