![]() |
We've been buying foreclosures for a few years now... Probably looked at at least 100 of them so far, there are some nightmares for sure. The worst are the ones where they spraypaint on the walls and shit. No appliances and fucked up walls are just par for the course.
Just shows how pathetic the average person is. :2 cents: |
Quote:
|
one of the best troll threads I've seen in a while...
those "damage" pics = WIN :1orglaugh :1orglaugh:1orglaugh |
Quote:
|
Quote:
btw... ripping out carpet is stellar if their is hardwood floors underneath :thumbsup |
Thats what you get when you let the riff raff own real property...they fuck it up all to crap. Same with the airline industry. It used to be reserved for the educated, classy, and respectful decent types. Nowadays you see people trying to stuff livestock into the overhead compartment.
Then again, I don't blame anyone for ripping stuff out of the house...hustlaz gotta hustle. |
Quote:
The only "system" that is going to have you continue to pay after the foreclosure is when the property is sold for less than the amount you owe the bank, which is called a deficiency judgment. If you rip the shit out of the house then you just shooting yourself in the foot because by decreasing the value of the property it is going to sell for less and more you will owe. Now if you had a little equity in the property the person should have been looking to sell it or at worst do a short sale. Quote:
|
I was renting a place that was being foreclosed on and the landlord told me to take the washer/dryer if I wanted to when I moved out lol. I didn't, but I wish I would have it was a nice brand new set and probably the biggest dryer I've ever seen.
|
Quote:
|
you should thank them for making the house cheaper for you to buy :)
maybe they bought the carpets and appliances ? maybe ninjas broke into the house after they left and fucked up the walls just to piss you off. |
Quote:
if i buy a car that is missing tires it would be foolish for me to complain about the last owners lack of tire maintenance , i bought a car with no tires. Your friend had a choice to buy a house that had a fridge , he chose to buy a house missing a fridge , knowing he needed a fridge , he got exactly what he expected. If he bought a house and the owner stole the fridge he should go to the police. |
Quote:
If you rolled it into the mortgage... you don't fucking own it. The bank does. :2 cents: |
hgtv... great show
|
Quote:
if bank loans you 500k for house and you are in 50k and foreclose and take some carpet , appliances and ding the walls, the bank makes 45k instead of 50k. Doubt they are losing any sleep over the small loss of profit. |
Quote:
Come on be honest, how many of these have you done before, 1, 0? or do you have a friend that does them. You have no idea what you are talking about and it is apparent from this thread. banks don't give mortgages to finance refigerators. You wont find individual items like that listed on the deed/mortgage. Only the land/buildings and its *fixtures*will be mentioned. You might want to learn that word and what is a fixture or not. Because they wont spell out what every fixture is, at most it will just say "fixtures". |
I paid $3k for the airconditioner alone, the stove and the dishwasher are new too
damn right i'd take it with me if i went |
Quote:
That wall damage will take an hour to fix, I don't think it was worth even taking a picture of and crying about it. |
Quote:
Just so you know what sheetrock damage looks like http://i.ytimg.com/vi/vDBfplGrFA4/0.jpg |
I see it as pretty simple thoughts on their part. They got a loan got a house and started paying in good faith. Then for what ever reason the shit hit the fan and they got forclosed on. If they were one of the few who got hit on a house that they could actually afford but lost because of other stupid people then they feel like the 80k or what ever they paid they own. So they plan to take as much of that 80k as they can.
|
Quote:
|
Quote:
|
Quote:
|
wow, you think they're just trying to profit from their own foreclosure by gutting it? more like they're trying to spite the bank as well as those that are trying to profit on their misery. they dont NEED to make a profit on the fixtures and baseboards if they can make life just a little bit harder and/or more expensive for the bank and vultures.
|
The damages in foreclosures are usually factored into the price, if you have the crew to put the house back into tip top shape you can make really good money flipping them.
You see a wreck and someone else see's opportunity. You have to figure just about any home foreclosure or not will need paint and new carpets, and possibly appliances, people live like pigs! My issue is with short sales and the amount of time it takes to get answers from the bank, holes in walls can be fixed in a day, getting a bank to review and offer and give a reply takes months! |
Quote:
jk :) |
Quote:
|
The guy who lived next door to me did this. They took EVERYTHING. They took all of the glass from the shower doors, the sink, the faucet, and every last light fixture in the house, including the ones outside.
The only thing that god damn left behind was the smoke alarms, and after six months they started chirping so I broke in and replaced the batteries. |
Quote:
|
Vultures. Don't fucking buy the place then, boo hoo.
|
people need to learn to quit making excuses and take the blame when they fuck up.
|
Quote:
While I would normally agree 110% with everything you just said... The real issue is the banks NEVER lose. If they gambled on a bum mortgage and lost the Fed just bails them out. The problem is they have stacked the deck to the point where even if they lose they can either get the debt washed or just borrow more from the fed at 0%. At the end of the day... FUCK THEM :) If you or I run business into the ground we need to suck it up and move on... if you are a bank you get a do over... so much for personally responsibility right? I do not see why a person is expected to be a perfect little bitch while the bank is pissing in their face and calling it rain. Sure there are websites for that sort of shit and few awesome affil programs, but double standards are bullshit and you know it. |
Quote:
Therefore you asked, why is there a double standard? Out of necessity. Banks (at least the bigger ones who represent the majority of home loans) can not be allowed to fail. Do I think it sucks that me as a tax payer has to bail them out. Sure. My gripe isn't that the "big bad bank" was bailed out, I understand the importance of banks and that we need them. I just wish the assholes in charge that got us in trouble were held responsible and charged criminally. The bank, as an institution is not bad, just some of the people running them were. And "banks" do lose. It's not uncommon for smaller banks to close down. Banks also lose in most cases with foreclosures. But at the end of the day, you right the big ones that are important will be bailed out for the mistakes of the people who were running them. Now that is a gripe for you and me to be mad about, we played by the rules and still had to pay for everyone else fucking up. Banks getting bailed out is not justification for someone that got more house then they could afford and in over their head, lost the house and got mad and gutted it because they were blaming the bank for their problems. The buck stops with them. |
Haha GFY bringing people together :)
I am with you on the total BS of it all. I did not want to come off as all banks are evil and they do serve a very important job. On the other hand the morons that ran them into the ground should of loss their jobs at the least. I am a firm believer that too big to fail is a total crock invented by huge ass bank board members. This is america and if you run a business into the ground it either goes away or gets gobbled up by the next strongest business in the sector. I really doubt it would of started raining cats and frogs if the top 10 banks all closed up shop because before the end of the day 20 more would be there to take their places. If we as a country show them they are replaceable then maybe they will stop dicking around. Right now we are rewarding the dog for shitting and pissing all over the rug... that never works. It will hurt for a while to do the right thing, but just like some big surgery after your recovery time you will be good as new. |
Here is some general education for those of you in the US:
Quote:
Quote:
Quote:
Quote:
Quote:
Quote:
|
If the bank was taking my house I would do the exact same thing. Fuck the bank. Fuck the buyers. They can all go eat a dick.
|
Quote:
Lookie what I did when they came and tried to repo the car after I stopped making payments. I gutted that too... will teach them fuckers to come and try to take shit from me because I put down .001% and didn't make my payments. Po sessions is 100% of the law you biotches!!! http://www.whitetrashpeople.com/wp-c...d_neck_car.jpg yeeee hawwww! The funny thing is that people are stupid enough to think that just because they put down a couple thousand dollars and make a couple payments that they "own" something. They don't own shit. The bank owns it and you are just a renter basically. the morons with the "take **my** house" mentality. Person buys a 300K house. Put down 5K. Makes payments of 20K for the first year ( never mind the fact that 15K of that went to interest and not principle. Interest!!! what the fuck is that you mean when the bank loans people money they expect you to pay them back more then you borrowed???) So for the sake of the stupid, throw out interest. You fucking white trash, entitlement minded, lack of personal responsibility fuckups, really think that because you out 25K and the bank is out 275K that you "own it". Do you not forget, when the house was purchased the BANK gave 300K to the person who sold the house. They BANK bought the house, not you. The BANK is out 275K you out 25K and you get all pissy because you stop paying and they want to take possession back of THEIR house? |
Hey Will76,
You do get taxed for the difference, trust me! Never has made sense to me, but somehow the Gov thinks you got money, and need to be taxed. I have a friend who lost his house in Phoenix, the bank took the house, and acter auction, he still owed 40K. He filed for bankruptcy, and the IRS charged him taxes on the 40k.. Crazy system. |
Question,
How do the banks lose "real" money on a foreclosure? I mean they get whatever was paid in for downpayment, if any payments were made with interest, and they get the fucking house back to resell. Also, how many times have the houses been resold. Sure property values drop, that is the same risk the buyer is taking also. The banks also go after the people for the Difference in price sold to price owned. If they lose money they can write it off on taxes. Banks can get insurance against the loan also. Then now the big Bailout. If you ask me banks can fuck off! |
Quote:
But even with the exemption, most of not all of personal residence home owners do get to get their cake and eat it too. |
Quote:
You want to buy a house from me. I am selling my house for 300K. You go to the bank and say, hey I don't have the money but I still want to buy it, can I borrow the money from you? Bank says "ok" (if this was done in the early 2000's they should have probably told you to fuck off, but they loan you the money anyway.) You tell bank, hey I will put up 5K, can you put up 295K for me. Bank again says ok. The bank gives you 295K and you give it to me plus your 5K. Depending on the state the deed / promissory note is handled differently so I wont even go there. Let's check the score card: Bank is out: 295K You are out: 5K I got my 300K and sold my house. You then make 25K of payments (again lets leave out interest, at this point it seems like a foreign concept to most people here). SO you paid 30K (initial 5K plus 25K) Bank is still out 270K You stop making payments... You get foreclosed on. How does the bank lose? They get the house back.... The bank is not a real estate company therefore they do not want house back nor do they want to own a bunch of rental property. They want their money back. So they sell the house at an auction. Ut Oh, the house sells for a lot less, how did this happen? It could have been because you over paid for it in the first place, or the real-estate values went down, or you trashed the house making it worth less, or you gutted it on your way out, or all of the above. Let's say it sells for 200K... Bank put out 270K and got back 200K plus a TON of money in legal fees to go through the foreclosure process. So they lost 70K+ You lost 30K. The bank lost 70K+ Now lets add this to the equation, did you really lose 30K? No, you gutted the place on your way out and likely sold some of that shit on craigslist. You also didn't make any payments the last 6 months (living somewhere rent free???) If you were paying rent during that time you would have been out of pocket 6-12K. Then you also got to live someone where for the year that you were paying on it, which if you weren't living there you would have been paying probably the same amount as your mortgage (or close to it) in rent some where else. So how much do you really lose, how much did the bank lose ? |
All times are GMT -7. The time now is 10:51 PM. |
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2025, vBulletin Solutions, Inc.
©2000-, AI Media Network Inc123