I was approved for 500K, thank god I am smart enough to know at that time, I could not afford that.

Sympathetic up until those pics. That's not deliberate damage that's just clumsiness.

One of my friends buys houses that have been repossessed, tidies them up and churns them. Some of them have been proper fucking hovels when he bought them due to vandalism by the people who were kicked out.

How ironic is that statement coming from you.

Im glad I can give you some nice thick irony to wrap around your gay purple sweater.

Goddamn that stairway pic is.. two people who are too poor to hire someone trying to cart out the rest of their shit after their dream died?

I had far more problems than that in mine, and mine was in 'good shape' for a foreclosure. I mean 'missing wiring' grade. EVERYTHING was gone. They even fucked up the disposer trying to take that.

hate to see you when real tragedy strikes.

:1orglaugh:1orglaugh:1orglaugh

He does come off like a delicate little flower, doesn't he?

maybe people are pissed that the banks got bailed out even though they fucked things up. Then home owners lost their jobs due to the banks fucking up the economy and are now having their house taken by the bank that was bailed out with their tax dollars....

I doubt they give a damn about a potential buyer, its just them versus the bank

Afford it or not anyone who bought real estate in the last ten years made a bad choice.

http://dictionary.reference.com/browse/appurtenance

"Debt cancellation"
LoL
The IRS loves to fuck you in the asshole when card companies grossly inflate a debt and then settle it. Those crooked cocksuckers will say that the difference is income :1orglaugh

Not only that, but these people who fuck the house all to hell and make it unsellable, they of course owe the difference when it sells for nothing.

For what?
What would you sue them for?

They're only hurting themselves.. they should realize that

Yeah
What a god damned blatant fuckover
Money changers aren't even supposed to run at a profit beyond what's necessary to cover their operating expenses. They were never supposed to be run as for profit businesses. Much less were they meant to become open air rapists.

The banks only lose when they cause wildly stupid fuckups. Like loaning to every subpar idiot in the world. Like making risking investments. Not 100% their fault, though, because the god damned government did lean on them to do the bad loans in the beginning, but they got a taste of fast easy money because real estate was so golden and hyped up... they ran with it and allowed people too lazy or stupid to read a contract have loans.

The banks and those idiots deserve whatever happens..

Of course, now, the same government who caused the whole problem steps right in to rape every American in the urethra so the big important banks don't fall down and go blam

This way we ALL get to pay for the lazy, stupid, greedy pieces of trash
People who bought 5x the house they could afford and banks who wrote ridiculously bad paper

People still do that kind of thing
It's not a good idea
Bit it happens

Another real cocksucker who was an integral part of all of this was the good old crooked mortgage broker... Many of them were complicit with the stupid idiot buyers paying twice what houses were worth and making a fourth what they needed to afford it

and at the end of the day the bank is making a profit if it is sold for more, plus what they collected from debtor.

what it boils down to is .. if the guy bought a house he could not afford and he is a fool then the bank lent money to someone who couldn't pay and they are equally the fool. The bank will certainly try and make as much money as they can and lose as little as they can, so why blame debtor for doing the same.

The big difference is .. the bank loaned you money on expectation you pay , you bought the house on expectation your job would pay .. the economy went to shit and you lost your house , the bank lost nothing because the gov bailed them out.. You feel a bit pissed because the banks who make billions got helped out because the economy went to shit , you didn't get helped out at all.

Are you sure? The bank wouldn't loan someone more than a house is worth, you say? How could you possibly believe that? They were loaning whatever any half way almost coherent figure was in the "market" at the time. $100k houses were selling in some areas for $300k for chrissakes.


I've never heard of someone losing a house that sold for more than they owed.. but I would assume that if it sells for more than you owe, you would OF COURSE be paid the difference (but don't forget, they're going to want to deduct all kinds of expenses out of that... including "legal fees" with quotes)

actually i didn't say that, i said the bank wouldnt lend you 300k for a 200k house.
happens all the time although isn't something you would hear about because most people who are foreclosed don't follow the price of the house they lost price :)

lol keep dreaming :)

if you pawn a ring for 5k and dont pay and the pawnshop sells your ring for 20k you don't get the profit, works the same way with the bank. Once you default on the loan , you lost the house.

How is what the bank does even relevant? The only relevant facts are:
- someone borrows $$$ to buy a house
- if they stop paying the bank gets the house
- they stopped paying
- so the bank gets the house

That's all a layman on the street needs to be concerned with, whether the bank sells it for a loss or a huge gain is none of anyone's business... :2 cents:

i wouldn't quite agree. if the banks are making more money when people lose a home then its basically in their best interest to give mortgages to people they know can't afford it. i'm not saying thats the situation but when banks are getting bailed out for their mistakes, what they do is everyones business.

tommy voo 101

sell houses to people that cant afford them , grab the down payment and equity and run.
rinse , repeat.

It's up to the borrower to decide if they can afford a mortgage, it's certainly not a job of a bank to be a financial advisor... if the borrower fails to use good judgment, defaults on the loan, and as a result bank makes $$ on the deal, there is no one to blame but the foolish borrower... :2 cents:

isn't that call predatory lending? either way, it should be their job. it is here in canada. banks will take numbers from your income taxes along with debts and look at any past bad credit incidents and if the numbers don't make sense, you don't get a loan.

It's not okay to be running 3 months outside of bankruptcy.. hard working, or not, people who lose their jobs and immediately lose their house couldn't afford what they lived in, in the first place.

And what you call unregulated capitalism just simply IS NOT. The days of free enterprise and fair competition are gone. The government has its hand in EVERYTHING. THEY decide which businesses survive. Play ball with them or die. Be in the way of someone who plays ball with them, be a much better business with better prices, die ANYWAY!!!

I must not have read the whole thread, because I didn't think he necessarily liked the banks.. We all (should by now) know that they're crooked blood sucking garbage, money changers are. Ever since it began and they figured out that they could steal a percentage of gold on deposit without anyone knowing. Now it's legal and multiplied on a huge scale. God damned fucking scum is what money changers are. Period.

Anyone who knows what they're doing knows you make the most money on those messes. Unless you run into some kind of hazmat like "deadly scary mold" which is a big deal, these days, or anything else that'll red tag the place.

But if the OP will only buy broom clean props, he's probably going to lose his whole ass and not just half of it. Yeah, I know that in some cases on the higher end stuff that's in demand you can buy BC and be okay. But most of the big money makers doing flips or renting regular property know that the NUMBER ONE RULE is to get into it right (at the right money)

That wouldn't scare me a bit if the structure is good

You are right, I had just gotten out of bed and wasn't thinking. They of course take actual ownership when they foreclose and of course it's theirs and any profit would be, as well. I just wasn't thinking. Of course, you're right.

I bet that out of every (several hundred) foreclosures nets them a slight profit, though.

That is what I was trying to say!
The banks were pushed into accepting bad loans, started making money doing it and got wild and greedy when real estate was so hyper inflated...

Blame lies with the idiots who didn't read their loan docs, bought homes they could not afford which were not worth what they paid at all, mortgage brokers who helped spoof income documents, the greedy idiots at the banks

Basically almost every human fucking being in this country is too god damned fucking worthless and stupid and greedy and ignorant and troublesome and annoying to even be alive and that is why I want to k*** almost everyone I fucking TALK TO

I hate almost everyone.
Thank christ riding on his magic cracker that I don't have to know many people.

If it doesn't go back with me 20 years, if it's not giving me something, if it's not sucking my cock, if it's not cooking for me... I DON'T WANT TO KNOW THEM

I just can't stand ignorant idiots. They're fucking PROUD of how ignorant they are, these days. I've had it with almost everyone.

I don't even let idiots piss me off, any more. I just get MAD. And it works out GREAT. I like to be mad and angry like Al Capone. If it were legal I'd ***** half of the people I meet, seriously, I actually would.

Maybe they didn't sell the carpets at all, maybe they ate them?

I heard about these rug muncher people. I'm not sure how they can digest it.

If the banks weren't stealing "tax payer" (rape victims) money to pay for their stupid fuckups, it'd be fine with me. Any idiot who goes and writes his name to several hundred grand worth of paper without READING IT and having a BASIC UNDERSTANDING of what he's agreeing to DESERVES TO BE FUCKED because he FUCKED UP.

Just like the BANKS DESERVE TO BE FUCKED for their fuckup. Like idiots who keep money in a bank that writes bad paper DESERVE TO LOSE THEIRS.

Everyone involved should pay

1. Banks writing bad paper: Should pay
2. Depositors who use banks with bad policies: Should pay
3. Idiots who buy 100k houses for 300k with no clue about the terms of their loan: Should pay

But the hard working tax paying American should not be urethra raped to pay for all three of the worthless pieces of greedy slash brain dead scum above. PERIOD. And there should be NO pity parade with crying and whining for ANY ONE OF THE THREE.

And I wish someone would start calling it what it is. People work their whole lives away paying for everyone else. When the government steals a hard working persons standard of living away, makes the family go without everything so some pieces of shit can steal it, that IS RAPE.

Seriously, I've seen a couple videos of bitches taking a cock up their piss holes. I thought, what is this, the united states government?

The bad part about any board discussion, is everyone including ME, think the small part of the world they see is uniform to the rest of the world. We ALL have stories to dispute many "facts" of how things work. Bottom line is, the banks are cying, and they do not need to be!

I don't agree that it should be their job, if it is their job then clearly there is a conflict of interest, so it can't be their job... they crunch the numbers to make sure they don't get fucked on the deal, they could care less about the borrower...

and there is nothing really "predatory" about that, they run a business just like any of us... many of us could care less if some stupid fuck just spent $500 on cams and now won't be able to afford groceries for his family, as long as we get our 50% commission, and why should we care? if he wants to pay $500 to jerk off, it's his problem... :2 cents:

You are blind then, the reason for this big mess is because everyone got greedy and dropped restrictions of paperwork needed for loans. Yes, we need to have rules to protect everyone, sad but true.

My best friend was Talked into a Bigger loan than he wanted. Very easy to talk people into things these days. Same with Cars, they will ALWAYS try to talk you into something nicer. Oh come on, whats another $50 a month, you can do that cant you?
Blah Blah

Problem with the Cam, you dont NEED the Cam, you do need a House or Car. Yes I know people can get by without, but come on.

Also, selling cams, you are not sitting there telling them it will be alright, pushin pushing ppushing. Sad but many people fall for Sales Tactics.
Heck MOST people lose at Casino's, but they still go.
97% payoff, HAHA so y ou lose 3% of your money every spin.

Exactly, people are quick to forgot (or didn't know) that the govt thought everyone should be a home owner and did less up the restrictions allowing banks (and even forcing them) to loan to sub par people. Fucking democrats, actually believed that everyone could/should be a home owner.

I'd say 7-8 years. If you bought in 2001, 2002, or even 2003 you still on the positive. It didn't really boom hard till 04,05,06 then started bursting.

banks didn't fuck up the economy.

Any stats to back that up?? If happens all the time means 1 out of 200 times then I would agree with you that is possible. But it is certainty far far from the norm.

Hell no, because you getting that shit cheap and most of it is gutted for you already. That right there is an opportunity.

Amen....

The govt allowed/foreced the banks to do it.
The banks approved the loans for broke dick idiots.
The broke dick idiots wanted more house then they could afford.

Still at the end of the day, I blame the broke dick idiots the most. Everyone shares some blame, but how old were these people, mostly 30s,40s,50s etc... we not talking a fucking child who didn't know better. These were grown fucking adults. And while some people lost their jobs and it caused them to lose their house, if they wouldn't have had such a high mortgage and if they would have had a fucking savings, emergency fund, etc.. they most likely would have made it through. It's the morons who went from renting a $800 a month apartment to having a $2500 mortgage that lost that job and couldnt afford the $2500 mortgage and went right back to renting for $800. So to all the people who say, but what about all the poor innocent people who lost their jobs, most of them were idiots that deserve the blame as well.

The whole predatory thing is bullshit imo too. So the bank gave you the loan you wanted, you fuck up and can't pay it, so then you going to claim the bank fucked you... say what????

And I doubt that extra $50 a month made or broke him too.

"got talked into" that bullshit.


And the bank doesn't arbitrarily try to get you to pay more each month. The amount you pay each month is deteremined by 3 simple things: the amount you want to borrow (purchase price - how much you put down), the interest rate, and how many years you want to borrow the money. PERIOD. So if he was "talked into" an extra $50 a month it was because he either wanted to do less than a 30 year loan or buy a HOUSE HE WANTED that cost more, or he wanted to put less of his money down.

How old is your friend, 5 ? When are adults going to stand up and take PERSONAL responsibility. You people are claiming that you want the banks / govt to tell you what to can and cant do. God forbid the govt does one little thing that people see as "taking away their personal liberties" and everyone starts bitching and crying how the govt should leave them alone. But the second the person makes a fuck up they cry and say the govt/bank should not have allowed them to do it. Are you fucking kidding me.

Until you people grow the fuck up and take responsibility for your OWN actions you will never amount to anything. The first step to success is to learn from your actions/mistakes, which kind of hard to do when you think you never wrong and want to blame everyone else.

So you just proved the world is full of idiots. People smoke even when thousands are dieing of cancer. Hell we can go all fucking day long with people doing stupid things, but the second you tell a stupid person (most of society) they can't do something they want to do, they foam at the mouth and get all full of piss and want to kill you. Then when they fuck up they want to blame you for letting them do it or they are mad at you so they destroy the house to try to get back at you.

The people who got loans, while they shouldn't have it wasn't that fucking ridiculous. It wasn't like someone working at McDonald making min wage got a 300K loan. The fact of the matter is I bet 99% of those people could have afforded those mortgages, IF they wouldn't have blown so much money on other shit like gambling, porn, smoking, going out to eat, electronics, expensive cars, vacations, toys, etc.... It's the HOLE they dug them selves into because of all of their financial decisions that made it too deep for them to continue to make the house payments. When you keep borrowing money and running up the credit card then have a pay cut, of course you going to lose the fucking house. You going to dump the biggest expense because you know you can always move in with a friend or go back to renting a shit hole. When you rack up so much in debt in credit cards and you paying $300,$400, $500 a month just on interest, of course that big house note is going to now be too much for you to handle.

No they didn't. Taxpayers bailed out all those losses. When you aren't allowed to fail, there is no risk.

Really, every bank? Very broad and all encompassing response. I never said, after the fact, that the big banks weren't bailed out a couple years ago for what they had lost to that point. However, banks do lose on foreclosures. Some get/got bailed out later for those losses. Some don't. I have a local bank here that just foreclosed on 20 subdivision lots in a development I was building in a few years ago. The lots were selling for 45K each, now you can't give them away for 20K. The bank has those lots up for sale for 25K, they would be lucky to get 20K. They going to lose 100K's just on that one single example. Situations like that are happening all over the country. Those banks aren't going to get a check from the govt for the difference.

Just because the big banks got bailed out a couple years ago doesn't mean all of them did and doesn't mean that there hasn't been any foreclosures happening since they were bailed out.