Owners' heartbreak, buyers' bargain a...

Owners' heartbreak, buyers' bargain as Orlando-area foreclosure...

There are 207 comments on the Orlando Sentinel story from Mar 5, 2009, titled Owners' heartbreak, buyers' bargain as Orlando-area foreclosure.... In it, Orlando Sentinel reports that:

R eal-estate agent Bryant Tutas says he gets 20 to 30 e-mails a day from United Kingdom investors who tell him essentially the same thing: "I want to buy a house.

Join the discussion below, or Read more at Orlando Sentinel.

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Tragic

West Monroe, LA

#1 Mar 5, 2009
So sad, the reasons for so much of what we are facing should be known. Don't expect the controlled mainstream media to say it, but the truth should be known.

http://cofcc.org/...
Orlando321

Orlando, FL

#2 Mar 5, 2009
Adjustable mortgage rates have been going down for months...I have four adjustable mortgages that just went down to 4.5%. What a bargin...Something wrong with all of the skyrocketing adjustable mortgage payment tales!!! Yes, the payment can go way up because of the property tax rip off that Crist did nothing about as well as the property insurance scams that Crist did nothing about.....our government leaders from top to bottom have failed us!!! They handed us over to Big Business long ago!!!
Jeesh

Lakeland, FL

#3 Mar 6, 2009
$4000 chandeliers. What an idiot. Back to Boston dumby.
Michael

Cocoa, FL

#4 Mar 6, 2009
"...the family didn't anticipate that the adjustable-rate payments would spike from $1,100 to $3,800, which is more than her carpenter husband earns in a month. The family has not made a mortgage payment in seven months, and she expects to be evicted at any moment."

Anyone who buys a house with no money down, and then complains when they have to pay for it is stupid, irresponsible, and deserves what they get. Honey...your mortgage is not my responsibility. Get over it.
Bob

Maitland, FL

#5 Mar 6, 2009
Sounds like change I can believe in!
Huh

Deltona, FL

#6 Mar 6, 2009
A family of five with a husband who is a carpenter pays $351,000 for a house and decorates it with a $4,000 chandelier?
Opportunity Tax

Dallas, TX

#7 Mar 6, 2009
So what, if I don't pay my car payment I should just get to keep my car. If I don't pay my credit card bill, I should get to keep using it. Get over the drama. These people need to go into less expensive housing and there is plenty of it. Then and only then will the market settle and lending begins again. Right now we are asking lenders to throw more money at something that will fail again. That is why nobody is lending.
when will it end

Apopka, FL

#8 Mar 6, 2009
45000 homes out of how many total homes in Orlando....probably a very small percentage compared to the people who were not greedy and irresponsible....of course, the entire story is not presented....evidently, it never was! My subdivision doesn't have any foreclosures and there are 160 homes.
Mother of 3

Altamonte Springs, FL

#9 Mar 6, 2009
Opportunity Tax wrote:
So what, if I don't pay my car payment I should just get to keep my car. If I don't pay my credit card bill, I should get to keep using it. Get over the drama. These people need to go into less expensive housing and there is plenty of it. Then and only then will the market settle and lending begins again. Right now we are asking lenders to throw more money at something that will fail again. Th
at is why nobody is lending.
AMEN TO THAT!!!! Is anyone going to compensate me for the losses to my 401K? I work, spend and save responsibly.
Question

Windermere, FL

#10 Mar 6, 2009
Maybe people should only buy what they can afford?
citizen

Dallas, TX

#11 Mar 6, 2009
They were unaware that their adjustable rate mortgage would go up? BS, No one believes that they can pay 1% interest only mortgage for 30yrs! These people and the bankers who gave them these mortgages are idiots and I do not want to pay for their blunder! Why should we who live frugal lives, have to give up a single cent to bail these morons out? I hope they crash and burn the whole lot of them!
four against three

Tampa, FL

#12 Mar 6, 2009
Deltona 32738 is one of the hardest hit zip codes in the nation. Beyond the subprime loans the now former owners experienced spikes in property taxes and insurance rates. The last straw was $4.00 gasoline as most there travel very far to work.
citizen

Dallas, TX

#13 Mar 6, 2009
Orlando321 wrote:
Adjustable mortgage rates have been going down for months...I have four adjustable mortgages that just went down to 4.5%. What a bargin...Something wrong with all of the skyrocketing adjustable mortgage payment tales!!! Yes, the payment can go way up because of the property tax rip off that Crist did nothing about as well as the property insurance scams that Crist did nothing about.....our government leaders from top to bottom have failed us!!! They handed us over to Big Business long ago!!!
The reason they went up isnt about the APR its about the interest only balloons! See for the first 3 yrs they paid interest only payments at low low interest rates, like 1%, then at the balloon the mortgage became a standard APR plus they began paying on the principle! See a dipstick working a 10.00 hr job can no way no how afford 500k house ridiculous!
redgator

Windermere, FL

#14 Mar 6, 2009
Everyone who has an ARM seems completely SURPRISED when they can't afford their homes. Yes, I bought a home in 2005 and now its worth less than it was. However, I can afford my mortgage b/c I didn't enter into it blindly. I got a great rate-FIXED. I also didn't buy into the idea that I can afford this much of a home. I stayed right in the middle of what I could afford. The problem started with the banks giving loans to people who obviously could not afford them. Now we are in a major financial crisis.
redgator

Windermere, FL

#15 Mar 6, 2009
Question wrote:
Maybe people should only buy what they can afford?
wouldn't that be a shocker?? guess that's going to happen now as everyone is paying for the mess left behind.
Tennismom

Lakeland, FL

#16 Mar 6, 2009
Michael wrote:
"...the family didn't anticipate that the adjustable-rate payments would spike from $1,100 to $3,800, which is more than her carpenter husband earns in a month. The family has not made a mortgage payment in seven months, and she expects to be evicted at any moment."
Anyone who buys a house with no money down, and then complains when they have to pay for it is stupid, irresponsible, and deserves what they get. Honey...your mortgage is not my responsibility. Get over it.
Amen! This is a perfect example of why a bailout is not fair. I don't want to pay for her stupidity!
mike g

Orlando, FL

#18 Mar 6, 2009
What a liar. According to Osceola public records. The first mortgage on2/17/05 was 263,425.00 second mortgage 11/22/05 60,000.00 third mortgage 344,000.00. Seems like when the house quit paying for itself so did they.Now they haven"t paid anything in seven months I"m sure they have plenty in the bank. yeah right
Enough Already

Leavenworth, KS

#19 Mar 6, 2009
Huh wrote:
A family of five with a husband who is a carpenter pays $351,000 for a house and decorates it with a $4,000 chandelier?
I'm sure their mindset has absolutely nothing to do with why they couldn't qualify for a fixed rate mortgage.

I also believe in Santa Claus.
Ashcat

Oviedo, FL

#20 Mar 6, 2009
Everyone needs to stop selling our property to foreign buyers of any type. We need to find ways to put American families in to American Homes or no one will ever be able to afford a home again!!!
mike g

Orlando, FL

#21 Mar 6, 2009
whoops..... third mortgage 11/22/07

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