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Old 02-12-2013, 11:49 AM  
bud16415
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The guy that owned the house we are trying to get was upside down about eight different ways. I’m surprised someone wasn’t owed money still on the dumbbell. He applied for all kinds of special loans thru the government and they all ended up getting lumped together well most did thru a bank in Ca. the local township also got stuck with one and last night was their meeting to see if they would forgive it to at least get someone back in the house paying taxes. I will tell you how bad it is and keeping with the thread here he had a yard sale last summer and when we got the mid-January thaw we saw he still had all the yard sale stuff on the front yard under 2 feet of snow. I’m assuming that goes with the house also. The one find beside the dumbbell that looks like it might be ok is in the basement there is a cement mixer pretty good size and I haven’t a clue how it got down there as the drum is larger than the basement door. I was told they made lawn art things down there. Also included are a dozen bags of ready mix that are now turned into boulders. Those go to the dumpster.

So one of the two dumbbells goes with the house the other one I will have to let stay in the black mold house for now.

I remember hearing only in America do we install a garage door opener and then fill the garage with weight lifting equipment.

If we get the house I’m sure we will find a few more items to report back on as the garage was so full we had a hard time looking at the structure.



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Old 02-13-2013, 07:40 AM  
Austin
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Are there a lot of foreclosures in your area?

Anything good in the abandoned yard sale?



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Old 02-13-2013, 10:33 AM  
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Are there a lot of foreclosures in your area?

Anything good in the abandoned yard sale?


There is afair amount of foreclosures, but most are handled responsibly and kept up untila sale. With the market down and lending hard to get even though they aresometimes going cheap the banks want a cash sale and even though someone thatneeds a home might be able to get what was a 100k house for 20k they don’t havethe 20k. it’s crazy the house will sit a year or two and these winters arereally hard on them. The one we are looking at the value was so low it wasn’t worththe bank wasting money on a foreclosure and it was in the best interest of theowner to not have that on his record so they just tell him you must sell it andget nothing. In his case he owed utilities so much everything was shut off ayear ago. He has nothing to gain keeping it up as he knows he won’t get anythingout of the sale. The bank advertised it as a quick sale, but they found he owedthe township money and they have a lien on the property that they are willingto forgive but they only meet once a month and every time they meet they needto look into something and then it takes another month. It’s stuff like this iswhy no one wants to mess around buying these places. We looked at one nicehouse the power was turned off the sump pump was under water and the high watermark was half way up the furnace. The furnace, A/C and hot water looked likethey were brand new, now junk.



As to thejunk in the yard sale it might have been ok if it didn’t set out in the snowall winter. Bunch of electronic games and such. There is a cast concreteelephant that’s painted pink that held up. That has to be worth some money.hehe
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Old 02-13-2013, 05:04 PM  
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It's crazy, up here we wouldn't get the lot for much less than 200K

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Old 02-14-2013, 07:55 AM  
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It's crazy, up here we wouldn't get the lot for much less than 200K

You won’thear much on the news about what a problem this is. In Cleveland the city is demolishing some really nice homes just to get rid of them as they are not selling and becoming a public safety issue. There is even new construction that people have walked away from half-finished homes just sitting and just down the street someone starting another new one.
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Old 02-14-2013, 01:23 PM  
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I have friends here and there around the US and some of the storeys I here are pretty sad. This should be a time for people starting out or people how lost their house to get started but it's like some don't want that to happen. Like Romney said, Let them go bankcrupt and let the investers buy them up so THOSE people can rent them.

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Old 02-15-2013, 07:52 AM  
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You won’thear much on the news about what a problem this is. In Cleveland the city is demolishing some really nice homes just to get rid of them as they are not selling and becoming a public safety issue. There is even new construction that people have walked away from half-finished homes just sitting and just down the street someone starting another new one.
My brother worked construction for a while. He said he was installing stuff in houses that would never sell. Five years later they are still unoccupied. They didn't even finished building out the streets.
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Old 02-15-2013, 09:04 AM  
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Not to take the thread way off topic but these short sale houses do leave a lot of goodies behind.

Nealtw
What happened and what is unfair and I think what Romney was alluding to is people like myself bought homes we could afford and waited till we could many times renting for a good long time. We bought fix em up houses or starter houses and busted our butts fixing them and paying for them. Then came along this notion that it was a good thing for everyone to own a place and not just a starter home but a fancy place and the government made it easy to buy and lowered requirments and then bought up the loans so banks could make more. All these people went in and the banks tell you Oh you can afford a much more expensive home than that and we will get you adjustable rates and on and on. Half the people were underwater before they started but didn’t know it and everyone thought housing prices would go up forever. Once the bubble broke everyone upside down stopped paying file bankruptcy after living rent free for a couple years. Government can’t have that so they start helping these people out with the tax money responsible people are still paying lowering rates and principles etc. Romney was saying let’s not reward the wrong people because chances are when you bail something or someone out the bad habits will get them right back there. Let the system work and someone will buy the places for what they are worth and get them in the proper hands thru renting or selling. Well that isn’t happening now. I see another hit coming down the line soon.

Austin
Your brother is correct lots of building was going on based on speculation and once the money invested was less than any return they could see, why would any smart person pour in more after bad so they just close up shop. There sit houses not closed to the weather or people stuck in a town house complex with eye sores across the street. All of a sudden that lowers their property values and they are underwater and out they go.

The house full of junk we are looking at has 100% new siding and 75% new roofing. It has a brand new handicap bath and laundry on the first floor. It has new doors and is handicap accessible with decking and ramps that I bet cost 10 grand alone. All this stuff was thru programs I’m guessing that had low loan rates. Then people lose their job or just give up stop paying everything and hit a terminal point where they can’t pay if they wanted sticking some bank and a dozen other places with bad loans because the homes get ratty waiting around and the home owners sell off anything of value appliances etc. and leave behind a mess. The values go down and down the banks hold off selling too long and end up taking 10 cents on the dollar. Then in our case we make a deal to buy only to find out there are other liens on the property to forgive. Thus the local government get stuck along with the utilities. We know they don’t take a loss they just jack up the charges for everyone else that’s playing by the rules.

The strange part of it all is new construction is still going on. And I always say who the heck is buying all these new houses.

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Old 02-15-2013, 04:01 PM  
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Bud; I agree with most of what you said, but the average guy goes to the bank for information and we were tought to trust them. A lot of people just don't understand how things work. Your banks asked for less regulations and your government gave them that. The banks found new ways to dump the risk on unsuspecting investors and lent people money that should never have bought a house. You punished the government and the people and the investors but bailed out the banks. Now they drag there feet moving these houses, you can be sure they are still using them for collateral for more than they are worth.

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Old 02-20-2013, 05:14 PM  
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http://autos.aol.com/article/traffic-cam-19-car-accident-china/?icid=maing-grid10%7Chtmlws-main-bb%7Cdl6%7Csec1_lnk1%26pLid%3D272984
Posted on the wrong page. oops


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