Comments on: Evicting Former Owners

By: BDiego

BDiego — Sat, 03 Jan 2009 17:28:14 +0000

This all leads us back to toxic loans. The only way to avoid this mess is not to make the loan in the first place.

When you have 0% equity, the bank really has the other 100%. They bought the house, you didn’t, and all you have is a contract to buy it back from the bank over 30 years one payment at a time. If you don’t pay and have negative equity, where’s the big confusion here?

By: BAM

BAM — Sat, 03 Jan 2009 16:48:36 +0000

What a gigantic waste of time and money. It took how many man hours to agree that someone who doesn’t pay their mortgage needs to forfeit the property??? Truly annoying to me.

By: Kwaping

Kwaping — Fri, 02 Jan 2009 22:58:34 +0000

I don’t think it’s possible to delay short sales any more than the banks. :/

By: Rob Dawg

Rob Dawg — Fri, 02 Jan 2009 22:37:43 +0000

I’m sorry to opine thus but IMO belligerent is the new black for 2009.

By: Simone

Simone — Fri, 02 Jan 2009 21:07:41 +0000

Have you ever had a short sale delayed because the occupants didn’t leave in a timely fashion? Or are those all cooperating in the hope of saving some of their FICO score?

By: Jim the Realtor

Jim the Realtor — Fri, 02 Jan 2009 20:08:59 +0000

You have to let the attorneys handle the evictions around here – I’d have the same reaction as you if I got too close to them.

The banks can give them a three-day notice, yet I haven’t seen one yet – the REO occupants have all gotten a minimum 30-60 days and/or some cash to vacate.

By: arizonadude

arizonadude — Fri, 02 Jan 2009 19:56:51 +0000

Jim,
It it a pain in the ass to get squatters out of houses?Do you have to get a sheriff to get them out yourself.

Some of these people getting forclosed on all of a sudden think they have a bunch of rights even though they don’t pay their bills.Since when is there a free ride?some of these lawyers are a joke too.Like the losers you see on billboards with greasy hair.

I had to evict a loser from a rental I had.What a POS.I used a property manager and they found me the biggest loser in az.I wanted to beat the shit out of him bad.The loser finally left after I confronted him in the front yard.

By: Jim the Realtor

Jim the Realtor — Fri, 02 Jan 2009 19:22:59 +0000

The latest summary on loan modification programs, from WSJ:

http://online.wsj.com/public/resources/documents/st_MortgageModificationPrograms_20081231.html

It mentions the government buying delinquent mortgages in bulk and refinances them into FHA mortgages, a Bernanke proposal.

It would be the last hope for loan mods, and by the time they figure out how to implement, it could be too late to help.

Loan modifications should be on their way out of the rescue conversation by March or April.

By: BDiego

BDiego — Fri, 02 Jan 2009 18:20:16 +0000

Will lawyer for food.

By: Kwaping

Kwaping — Fri, 02 Jan 2009 17:09:22 +0000

Just goes to show that a good attorney is really worth the money. I was on a jury last year and the skill differential between the two attorneys was huge. Obviously, the better one was victorious in the end. It’s sad because, in my case, the plaintiffs might have won if their attorney was better.