No copper here. Amazing.
Wait until the foreclosure sales are for bank buildings that nobody will bid on.
What delicious irony.
First, borrowers use “ruthless defaults” to hang the house around the bank’s neck.
And now the bank says “Not it” in response. When the property taxes are not paid, guess who gets charged? The person who has their name on the trust of deed/deed/etc. Who gets charged for property safety violations? Same deal. Who has the liability for the attractive nuisance? The person on the deed.
Sure, the bank isn’t getting paid. They can still blemish the homeowner’s credit more than enough to equal acceptance of a default.
But now, the banks have pushed all the liabilities back on those who defaulted. And on houses where the value has dropped by 30% to 50%+, hey, this is delicious irony.
http://www.freerepublic.com/focus/chat/2136635/posts
“Are you looking for a job?”
Note: This thread is updated on a regular basis.
Welcome to Kusinichville. Coming soon to everywhere in Obamaland.
The state of Michigan is refusing to return overpayment of taxes. The communist governor grandwhore has instructed her gestapo treasury to demand additional paperwork, reject it as insufficient when sent and state that all paperwork will take at least four months to process.
I suspect I’ll never see a penny of my money. Meanwhile, if I don’t pay property taxes in that putrid Marxist state, the property will be seized by these Nazis.
JOB 15:28 "And he has lived in desolate cities, In houses no one would inhabit, Which are destined to become ruins.
Isaiah 5:9 In my ears the Lord of hosts has sworn, "Surely, many houses shall become desolate, Even great and fine ones, without occupants.
Zephaniah 1:13 "Moreover, their wealth will become plunder, And their houses desolate; Yes, they will build houses but not inhabit them, And plant vineyards but not drink their wine."
And the reason for ALL of it is that people have turned their backs on God. :
Haggai 1:3 Then the word of the Lord came by Haggai the prophet saying,
Haggai 1:4 "Is it time for you yourselves to dwell in your paneled houses while this house lies desolate?"
Haggai 1:5 Now therefore, thus says the Lord of hosts, "Consider your ways!
Haggai 1:6 "You have sown much, but harvest little; you eat, but there is not enough to be satisfied; you drink, but there is not enough to become drunk; you put on clothing, but no one is warm enough; and he who earns, earns wages to put into a purse with holes."
Haggai 1:7 Thus says the Lord of hosts, "Consider your ways!
Haggai 1:8 "Go up to the mountains, bring wood and rebuild the temple, that I may be pleased with it and be glorified,"says the Lord.
Take care of God's business and He will take care of you.
What happens if the person on the deed under the mortgage does a quit claim deed to the holder of the mortgage.
Seems to me I’m hearing a lot lately in our area of deeds in lieu of foreclosure. Don’t know a thing about how that works.
I am not a real estate sort of person. And I even spent the night in a Holiday Inn Express. It seems to have helped my understanding of quantum physics, but real estate seems to be too much even for HIE!
Full disclosure: I'm not a banker, nor have I lost billions of dollars from toxic assets.