I smell an Executive Order coming in support of the FSA.
So then, these people stopped paying, are legally off the hook, and get to own the houses free and clear??? What the heck???
But isn’t there still a lien on the property if they ever try to sell the house, the lien being the mortgage??? Maybe I’m missing something? Seems to me the mortgage lien is still there even if the mortgage holder missed the five year deadline to foreclose and evict the residents.
Freeloading moochers. They may get by with this, but I hope it financially haunts them for the rest of their lives.
the lenders dont want them homes! otherwise they would have already seized them!
If the homeowner gets the home back... they get all the overdue tax bills with it!
lol
Dumb question: Who has been paying the taxes?
In Southern California (Orange County aka Orange Curtain), they will foreclose within 60 days.
How much does it cost to feed and care for her 100lb dog?
bookmark
Geez, dont I feel like a sucker for paying my 3 mortgages on time, every month for the last 15 years.
And of course the NYT cheers this.
And of course, we get to pay for it.
After CW-II, let us all remember that the difference between MSM folks and paper targets will be the fact that the MSMers will move around a bit.
This is theft on your dollares. Statue of limitations does not run after a forclosure suit is filed. This is tyrany.
As for me I say a “a pox on all houses” involved very few have even started looking a the numbers of cabals involving the banks, the builders and the appraisers, which also helped fuel this fire. Then there are all those who blame the buyers for failing to following their legal and moral responsibilities and yet have no words of condemnation for the banks and the servicers who fail to follow the real-estate laws and ended up entangling the paperwork into knotted messes which will take years to sort out and what of their legal and fiduciary responsibilities to their investors to follow the law and take care of foreclosure in a reasonable and timely manner? What of the number of State AG’s who when faced with the vast number of civil and criminal laws broken by parties involved allowed a buyout of the law? Lots of blame, but little acceptance of responsibility from anyone for their part in things. Seems now days if you are rich enough you can break any number of laws as long as you pay off someone. How far do you think a regular person would get by offing to pay the state some money if they agreed to for go investigation and prosecution?
The ones that really get me is those who say to hell with the law and get the ‘deadbeats’ no matter what even if you have to ignore the law. People have always been able to take advantage of the law and many times it takes a while to close loop holes and such, but the minute you start calling for laws to be ignored and vengeance parted out we become a lawless nation and no long Republic.
0bama done paid my note, y’all! /sarc
Anyone who works for a living, pays their mortgage, supports their own children, obeys the law and doesn't live off handouts from the government is considered to be a sap.
The parasites have won. The government is on their side. Enjoys struggling to get by on a pay check.
What bothers me the most is that it appears that she doesn’t feel bad about it. No guilt at all? It is almost like a badge of honor for her.
If this is indeed true, this country is in bad shape.
I feel sick.
I pay and the one who doesn’t pay, gets to stay, and even may have the home at no cost????????
I know someone who has 3 homes.The home they live in ,they stopped payments over 2 yrs ago.The other homes they are making the mortgage payments.Their income is over $200k a year.The mother of one of these two came from a foreign country and needed to go into a nursing home.They said they could not afford the nursing home for mom(really a residential type facility)They pay NOTHING for mom who has now been there nearly 5yrs.
This was all by design
How to destroy the credit market for homes 101.
Well, we all know that need is all that matters, so if these people need their homes, they should be allowed to keep them.
I get the feeling we’re getting close to the point where “Because I need it” will be the only requirement for someone to get something.