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walk away from your mortgage ??? they are commin for YOU

 
Anonymous Coward
User ID: 23854154
United States
09/16/2012 01:28 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Eh, I walked out of my house 2 months ago and never looked back
Catch me if ya can
 Quoting: Anonymous Coward 23344659


LOL..right. Let them try to "lock me up" if I decide to quit paying a mortgage. That will be one sorrowful day for them.
Anonymous Coward
User ID: 23854154
United States
09/16/2012 01:29 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Nothing like being threatened by a bunch of pansy cunt fucks.
Anonymous Coward
User ID: 23792081
United States
09/16/2012 01:35 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Lol....who cares! It is not going to matter soon. When the SHTF nobody will be paying their mortgage
 Quoting: Anonymous Coward 1313288


No..us peons will always have to pay, they wont let us get away..No way no how.
MarkinAZ

User ID: 20006444
United States
09/16/2012 01:41 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Figures some jealous twat would log in as AC 11929805 and enter a comment like that! When someone hands you a house that has a $100k mortgage on it - it's hardly a gift, believe me. It cost us over a grand a month to keep the place running and the payments, taxes, etc., current while it was being refurbished and that took six months.

I'm the first to admit that we had the right property in the right area at the right time. But the point is that we could have just "walked away" and called it a day. We were not under any legal obligation to continue paying the mortgage our mother had on the house from years ago. But before we decided to redo the property, we felt strongly about doing what seemed both morally right and honorable (to us.) So we swallowed hard and wrote the checks month after month. Plus the cost of refurbishment - and those were much larger checks. The fact that the house appraised for as much as it did has been a complete shock to both of us. We thought we'd be doing quite well if we broke even on the money we invested. d

My mother died and left me and my sister a house. We didn't want to make the payments on it's existing $100k mortgage. But out of respect for Mom's memory and good name, we did. I had a contractor and architect we know refurbish the house. New kitchens, baths, lighting, fixtures, appliances, doors moldings, wood floors, etc.

<snip for brevity>

Bottom line is that the house just appraised for some 110k more than we owe on it, or 60-70 k more than we put into it.

Sometimes dong the "right thing" pays off handsomely. While housing in other parts of the country is still in the toilet, these houses have rebounded - although not to their 2008 insane levels. But they've come up by double their all time low back in 2009/10. The fact that we redid it helped too. By a LOT!
 Quoting: MarkinAZ


Go fuck yourself. The only thing you "did right" is having a house fucking given to you.
 Quoting: Anonymous Coward 11929805
Anonymous Coward
User ID: 1364318
United States
09/16/2012 01:54 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Too bad you can't just change your name like the "brave undocumented immigrants" do.
Anonymous Coward
User ID: 11929805
United States
09/16/2012 02:21 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Figures some jealous twat would log in as AC 11929805 and enter a comment like that! When someone hands you a house that has a $100k mortgage on it - it's hardly a gift, believe me. It cost us over a grand a month to keep the place running and the payments, taxes, etc., current while it was being refurbished and that took six months.

I'm the first to admit that we had the right property in the right area at the right time. But the point is that we could have just "walked away" and called it a day. We were not under any legal obligation to continue paying the mortgage our mother had on the house from years ago. But before we decided to redo the property, we felt strongly about doing what seemed both morally right and honorable (to us.) So we swallowed hard and wrote the checks month after month. Plus the cost of refurbishment - and those were much larger checks. The fact that the house appraised for as much as it did has been a complete shock to both of us. We thought we'd be doing quite well if we broke even on the money we invested. d

My mother died and left me and my sister a house. We didn't want to make the payments on it's existing $100k mortgage. But out of respect for Mom's memory and good name, we did. I had a contractor and architect we know refurbish the house. New kitchens, baths, lighting, fixtures, appliances, doors moldings, wood floors, etc.

<snip for brevity>

Bottom line is that the house just appraised for some 110k more than we owe on it, or 60-70 k more than we put into it.

Sometimes dong the "right thing" pays off handsomely. While housing in other parts of the country is still in the toilet, these houses have rebounded - although not to their 2008 insane levels. But they've come up by double their all time low back in 2009/10. The fact that we redid it helped too. By a LOT!
 Quoting: MarkinAZ


Go fuck yourself. The only thing you "did right" is having a house fucking given to you.
 Quoting: Anonymous Coward 11929805

 Quoting: MarkinAZ


And yet you twaddled on about overpriced fucking cabinets and fucking appliances most people have never even heard of. Gloating that you bought a fridge for 4 fucking thousand dollars, acting as if you are anything but a money blowing blow hard.
Anonymous Coward
User ID: 23838800
United States
09/16/2012 02:23 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.


the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!

rant lmao
 Quoting: boilerbengal


The title is misleading.

This isn't about people who walked away, it's about people who walked away and then falsified loan documents on a new mortgage.

Big difference. just sayin.
 Quoting: Anonymous Coward 23816783


My question is, how can anyone not disclose a foreclosure when it is going to show up big and bold on their credit reporting that is required to get any loan?

When I did my refi last October, they knew every thing about me that happened for I don't know how many years, at least 7. Maybe the foreclosure falls off the credit report after that many years, but this debacle has only been going on in full force since 2008, that's only 4 years. So what is up?
 Quoting: Anonymous Coward 17851333


Clever defaulters bought their new cheaper house before they defaulted on the old one, so the credit was clean at the time. If they didn't lie and got a mortgage, then they could legally default on the old house payments and let that one go into foreclosure. If it was a "no deficiency" state, the skated. Good plan.
Element5541

User ID: 11647558
United States
09/16/2012 02:45 AM
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Re: walk away from your mortgage ??? they are commin for YOU
After paying my mortgage on time without question for years, I decided to refinance to a 30-year fix, 4.5%, interest and principle mortgage. Two years into my refinance (with CitiMortgage) I had my mortgage lawyer friend look at my refinance paperwork after hearing about all those automated underwriting issues to see if everything added up on my refinance. Well, to my amazement, he caught CitiMortgage in a bunch of TILA violations. So I stopped paying during my right to rescind I filed, then they came back with an apology after trying to foreclose on me for not paying, and decided to drop my interest rate down to 1%, 30-year fixed, interest and principle loan, and also drop the principle down to current market value. Once everything is all finalized, I'll be paying about $700/month for my mortgage instead of $2000. Worth looking into if you think your mortgage company may be in violation of TILA. It's legal for you to do and not in any way looked down upon because they are in the wrong and it's a way for you to put them in check.
Dr.DoomLittle

User ID: 6231580
United States
09/16/2012 04:03 AM
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Re: walk away from your mortgage ??? they are commin for YOU
those home owners that decided that this old house isn't the retirement nest egg i thought it would be. so lets walk away.

those people is what the article is about
 Quoting: boilerbengal


its idiotic to pay an underwater mortgage; its like paying 50% HIGHER RENT; WITH NO EQUITY; THROWING MONEY AWAY.

you could buy silver and actually own it instead of an illusion of ownership.

The asset is not liquid so you are looking at around 6-10% cost to sell it; and the money you put in is 100% exposed to a declining real estate market that is not liquid.

do the math.

Last Edited by Intergalactic Diplomat on 09/16/2012 04:06 AM
Anonymous Coward
User ID: 23866225
United States
09/16/2012 04:16 AM
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Re: walk away from your mortgage ??? they are commin for YOU
Strategic defaulters, beware. The feds are coming for you. And they are not happy.

"We are working with Fannie and Freddie to build a mechanism" to identify strategic defaulters, Wolfe said at a recent mortgage industry conference. So if you walked away from one property and bought another, chances are fairly good that the OIG is going to find you.

If you conveniently left off the fact that you have an outstanding mortgage you failed to pay, or that you have a deficiency judgment against you for the difference between what you owe and what the house sold for at foreclosure, you've committed mortgage fraud.

"Debts that haven't been repaid don't just go away," said a Treasury Department official who asked not to be named. "It doesn't matter whether it's on your credit report or not."

If there is any indication that you falsified information on your new loan application, the OIG is "absolutely" going to refer you for criminal prosecution, Wolfe said. "We're not just going to demand repayment," he said. "We're going to lock (people) up."

And if you think the mortgage cops won't find you, think again. The OIG's investigative office alone has a 45-person staff, "all experienced people with 15 to 20 years as investigators and prosecutors," according to Peter Emerzian, deputy inspector general in the Office of Investigations.

They work out of 11 field offices, soon to be 14, nationwide, and they're looking for you.


the whole story here
[link to www.chicagotribune.com]

all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.

all you trendy yuppie fucks walking away fuk you !!!

your as responsible for this mess we are in as the greedy banksters !!!!!!!

rant lmao
 Quoting: boilerbengal


I don't believe it. 45 big "government" employees looking for millions of people will be as affective as the SEC. I don't think they can handle it.

neener2
 Quoting: Renegade (Me too)


So, if each investigator can track down 10 a month, and two million have walked away from their house, the OIG will catch the last one in about 370 years. If you are still around in 2382 you had better watch your back!
Judethz
Israel is Eternal

User ID: 20521597
United Kingdom
09/16/2012 04:24 AM

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Re: walk away from your mortgage ??? they are commin for YOU
9teen Well perhaps when it costs $100 for a loaf of bread all you defaulters can scrape togeather what you owe and pay it off.
Anonymous Coward
User ID: 6739256
United States
09/16/2012 04:30 AM
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Re: walk away from your mortgage ??? they are commin for YOU
in case people are wondering just how fucked the American economy is,


all they have to do is read this thread,



housing was driving the economy, or the housing bubble that is, until 2008;



the housing market is now so fucked up in the USA that it will probably take at least 15 years for it to get back to some level or normal.


Any media bullshit screaming everything is back to normal is just that, pure bullshit.
Anonymous Coward
User ID: 19420840
United States
09/16/2012 04:59 AM
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Re: walk away from your mortgage ??? they are commin for YOU
20 years at 10 percent...ya i got screwed..

i was default mabie 35 times...or more..by the grace of GOD i MADE IT THROUGH.

WHEN i got my title..THEY LOST THE ORIGINAL!
Anonymous Coward
User ID: 1550123
United States
09/16/2012 01:24 PM
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Re: walk away from your mortgage ??? they are commin for YOU
Figures some jealous twat would log in as AC 11929805 and enter a comment like that! When someone hands you a house that has a $100k mortgage on it - it's hardly a gift, believe me. It cost us over a grand a month to keep the place running and the payments, taxes, etc., current while it was being refurbished and that took six months.

I'm the first to admit that we had the right property in the right area at the right time. But the point is that we could have just "walked away" and called it a day. We were not under any legal obligation to continue paying the mortgage our mother had on the house from years ago. But before we decided to redo the property, we felt strongly about doing what seemed both morally right and honorable (to us.) So we swallowed hard and wrote the checks month after month. Plus the cost of refurbishment - and those were much larger checks. The fact that the house appraised for as much as it did has been a complete shock to both of us. We thought we'd be doing quite well if we broke even on the money we invested. d

My mother died and left me and my sister a house. We didn't want to make the payments on it's existing $100k mortgage. But out of respect for Mom's memory and good name, we did. I had a contractor and architect we know refurbish the house. New kitchens, baths, lighting, fixtures, appliances, doors moldings, wood floors, etc.

<snip for brevity>

Bottom line is that the house just appraised for some 110k more than we owe on it, or 60-70 k more than we put into it.

Sometimes dong the "right thing" pays off handsomely. While housing in other parts of the country is still in the toilet, these houses have rebounded - although not to their 2008 insane levels. But they've come up by double their all time low back in 2009/10. The fact that we redid it helped too. By a LOT!
 Quoting: MarkinAZ


Go fuck yourself. The only thing you "did right" is having a house fucking given to you.
 Quoting: Anonymous Coward 11929805

 Quoting: MarkinAZ


Yup. You were handed a house where you still had to make payments and made a difficult decision to keep it and to even make it better. But the good thing is you were not upside down and still aren't. If the house was in an awful location and underwater you might have made another decision. Guess the poster didn't read that the house wasn't given to you free and clear.
ººEATºº

User ID: 4131095
Canada
09/16/2012 01:35 PM
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Re: walk away from your mortgage ??? they are commin for YOU
The issue is not about walking away from a property. The issue is about when you get your next house and try to cover up that you walked away from your previous house.
In the end it doesn't even matter...
Anonymous Coward
User ID: 19980561
United States
09/16/2012 01:37 PM
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Re: walk away from your mortgage ??? they are commin for YOU
Lol....who cares! It is not going to matter soon. When the SHTF nobody will be paying their mortgage
 Quoting: Anonymous Coward 1313288


^This^ Not to mention THEY will be out of a job as well.
Anonymous Coward
User ID: 9511424
United States
09/18/2012 11:47 AM
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Re: walk away from your mortgage ??? they are commin for YOU
all i have to say is GOOD!!! i pay my mortgage every month even though i'm up-side down like the titanic.
 Quoting: boilerbengal
Wow, we all should know by now the housing market crash was by design...and you're still paying your mortgage on a sinking ship?!?!? This is what's wrong with America. Just taking it in the ass because you think that's the 'responsible' thing to do.

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