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Foreclosure fix faces murky future

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Old 04-08-2008, 02:40 PM   #1 (permalink)
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Foreclosure fix faces murky future
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Old 04-08-2008, 03:13 PM   #2 (permalink)
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There is no "foreclosure fix". Either the bank coerced, which is illegal, or the homeowner signed a deal they couldn't afford, which is stupid. There is legal remedy for those that were coerced, but for the stupid there is no help, unless they offer it to everyone. Equality concerns and all.
Old 04-08-2008, 03:31 PM   #3 (permalink)
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Originally Posted by fxashun View Post
There is no "foreclosure fix". Either the bank coerced, which is illegal, or the homeowner signed a deal they couldn't afford, which is stupid. There is legal remedy for those that were coerced, but for the stupid there is no help, unless they offer it to everyone. Equality concerns and all.
Another problem is selling 2 bedroom, one bath houses for a million dollars like in California.
Old 04-08-2008, 03:41 PM   #4 (permalink)
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The problem was with the banks for buying those loans, the apprasers for apprasing for that much, and the people requesting them. There is no problem selling for that much if you can get some nutcase to buy it.
Old 04-08-2008, 03:49 PM   #5 (permalink)
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The developers should shoulder the blame as well. Why would they build homes so people can get into deeper debt?
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Old 04-08-2008, 03:55 PM   #6 (permalink)
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The developers should shoulder the blame as well. Why would they build homes so people can get into deeper debt?
Why build under unstable earth ready for the next mudslide? Why build in the dry woods ready for the next wildfire. Finally, why are all these homes average prices well over a million?
Old 04-08-2008, 04:05 PM   #7 (permalink)
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Why build under unstable earth ready for the next mudslide? Why build in the dry woods ready for the next wildfire. Finally, why are all these homes average prices well over a million?
USATODAY.com

This got my attention last week. So much prairie land to build on, east of Denver. The developers will build anywhere.

To quote P.T. Barnum: There's a sucker born every minute.
Thy word is a lamp unto my feet, and a light unto my path. Psalm 119:105
Old 04-09-2008, 06:58 AM   #8 (permalink)
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USATODAY.com

This got my attention last week. So much prairie land to build on, east of Denver. The developers will build anywhere.

To quote P.T. Barnum: There's a sucker born every minute.
I know it's really hard to do these days, but people should try living slightly below their means. I can finally do that now.
Old 04-09-2008, 09:54 AM   #9 (permalink)
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I know it's really hard to do these days, but people should try living slightly below their means. I can finally do that now.
Where you live, PN: Is there much land to build on? I keep thinking of Miami and the Everglades.

I spent a few summers in the foothills west of Denver as a child. My granddaddy lived on his ranch in Evergreen, Colorado. Now there are houses there near where the ranch is. I would not be surprised if some of those are empty. Makes you wonder, doesn't it?
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Last edited by highway80west; 04-09-2008 at 09:56 AM.
Old 04-09-2008, 11:26 AM   #10 (permalink)
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Where you live, PN: Is there much land to build on? I keep thinking of Miami and the Everglades.

I spent a few summers in the foothills west of Denver as a child. My granddaddy lived on his ranch in Evergreen, Colorado. Now there are houses there near where the ranch is. I would not be surprised if some of those are empty. Makes you wonder, doesn't it?
I live in Northwest Florida that still has plenty of land and A LOT less people than South Florida. Here you can get a decent 4 bed, 3 bath, NEW house in the low $200's.
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