This topic contains 13 replies, has 5 voices, and was last updated by Anonymous 6 years, 4 months ago.
- April 30, 2011 at 11:41 pm #419501
- May 1, 2011 at 12:16 am #419502
Welcome to the world of liberal entitlement.
- May 1, 2011 at 12:19 am #419503
?? What a bizarre concept. You agreed to a value for the property, as did the bank. You agreed to a certain interest rate, as did the bank. Now you want to sue THEM because they won’t re-write the agreement?
No, you can’t. Your bank did not cause the housing crisis, people buying homes they could not afford did that.
- May 1, 2011 at 12:32 am #419504
no you cant sue the bank they have a right to refuse a loan based on any reason they want or no reason at all its their choice. And if you only lost 20% you did pretty well some people lost as much as 50%
- May 1, 2011 at 12:39 am #419505
With the economy as it is, banks aren’t touching anybody. You must remember banks are private companies only regulated by the government, they call the shots
- May 1, 2011 at 12:56 am #419506
Blame Obama, Geithner, and the rest of the bailout buddies in Washington.
- May 1, 2011 at 1:19 am #419507
Probably not. The banks didn’t cause this problem. The government and its social engineering politicians did.
Most of the sub-prime loans were made under pressure from the government and its CRA guidelines. In many cases, the banks forgave part of their principal and lowered interest rates to avoid foreclosures. If you lost your equity because of the housing bubble burst, you would have been far worse off if we had even more foreclosures.
You should write your congressman and your senators to protest the social engineering engaged in by Washington. Banks don’t deliberately make bad loans, but they were given very little leeway by the government. So you and I paid a heavy price to keep unqualified buyers in their homes. Those of us who bought homes we could afford lost most or all of the equity in our homes, and as taxpayers and shareholders in the banks that held the bad loans, we absorbed much of what the banks lost. So we got a double whammy.
When the government interferes in the credit markets in the interest of social engineering, we all take a hit. Many of the “homeowners” who got relief are still having trouble making their payments and will eventually lose their homes. And, with foreclosures on their records, most of them will never be able to qualify for a mortgage loan in the future.
Most of our politicians are lawyers who have never taken a course in accounting, economics or finance. They don’t know what they are doing – other than buying votes for themselves. They steal our money to buy our votes.
We should vote them all out in future elections.
- May 1, 2011 at 1:34 am #419508
No, you can’t. You can, however, seek out another mortgage company to re-finance you. Unfortunately, the government bailed out the banks, not the homeowners….
- May 4, 2011 at 6:08 am #201114
…to pay of the mortgage loan? Thinking of investing in property tax liens but I am worried about what happens when they do not pay the delinquent taxes. Would I get the house free and clear or have to fight for the right of ownership in long court battles. Or would I simply have a lien on the property?
- May 6, 2011 at 2:25 pm #261575
There are some that say you can buy some houses just for the tax bill that is owed. You pay the taxes, you own the house.
But that is not all tax liens….I think you bid on the final amount of taxes owed. So be careful…and inspect the property….and one program is advertized on Cable how to do it….and they have to tell you what is owed…..
- May 8, 2011 at 11:32 am #267006
Investing in tax property takes a tough soul. Kicking people out of your house after you “Stole” it from the by paying their taxes that they could not afford. is tough.. In my state of Illinois you buy their property at a scavenger sale, and it is then yours. Mostly garbage stuff, and not worth the time or trouble.
Tax sales are also held each year for late taxes that will take you two years to get possession as they have that long to pay the make up their late payment. You are not allowed on property until you get a tax deed. Mostly you get the interest that they have to pay on the tax amount you paid. That could be a big return in itself.. The catch is that there are companies that go around paying late taxes and pretty well have it tied up. At lease at my last auction, it was pretty well in the bag.
Mortgage is lost on tax sales..
- May 12, 2011 at 7:12 am #274163
If a home is free and clear of mortgages and it goes up for a tax lien sale. The it is free and clear to you. However if you indeed place a bid on a tax leaned home you MUST do your due diligence on the property. Because you also will be taking on all other liens (mechanic lien etc.)
So you will also get that mess that was left that could cost you more than 50K. to clean up…So BEWARE of tax liens. And investagate everything before your bid.
- March 3, 2012 at 6:33 pm #419509
For many Americans, work provides no escape from poverty. The benefits of economic growth have not been equally distributed; instead, they have been concentrated at the top of income and wealth distributions. A rising tide does not lift all boats, and in the United States today, many boats are struggling to stay afloat. NOT all who have lost their homes were “treading way over their head with mortgage payments.” Wake up, pay attention to what is really going on. If we are going to find an ending to homelessness, we will require closing the gap between incomes and housing costs. And, yes, you can sue anyone or anything. Banks included.
- February 23, 2013 at 5:05 pm #419510
i refance my morgage on 2010 with no documents from 1 morgage wich was no documents either i went to bank i toldthem my husband lost his job im not working iwant to do home modification they look at me and they syy first we dont know if thar is going to work that obama home modification just came aut and we not familiar but we can refannce you isad how ihave uneploed husband his pay chek finished in july im not working at he time.i was told only 500 hunred dollara my closing cost no documens needed in amonth a half i was called to close 6000 dollars in my morgage plus 1200 cash on hand so here im this office nothing looked so good and i still signed i gat a fre month .8 months later fall behind and i try to get home modication i was refused 1 dont qualify after 2009 rifance 2,not enouf income , neve r offered forberance or anything else now i aply for inhousing modification im waiting i called the bank and offer 20.000 dollars down payment
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