Let's Talk foreclosures People & the empty homes they govern

You're assuming that everyone who buys a house is A. educated and/or B. successful. Not so.

rlcarolyn wrote: You know I am very Pissed right now! Think about this! Flume just had an article about the decrease in our population for this county. HUMMMMM Wonder why everyone is leaving? Idiot commissioners and judges! I told them during the election how would they like governing empty homes and working the budget with that?

Well guess what?? Some of us are sitting cozy in our homes while others are trying to figure out a way to keep from being homeless because of the actions our banks, servicing companies and government. I thought they were here to protect us from this SH**! Instead they are for the corporations and that is very visible just by the Rule 120 hearing! We are not a Judicial state we are a non-judicial state and that means corporate can walk in with no questions asked and take our properties! They have lied, cheated, stolen long enough! Please watch this video with homeowners and the Attorney General's office on March 1st and let me know how you feel. IT IS TIME FOR CHANGE!!!!!!
I want my rights back and that means not every time I turn around I have to hire a lawyer to stand up for my right! Another group that extorts money out of us when we have to stand for our rights!
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Did I miss something, are banks foreclosing on people that make their payments? Otherwise what is the problem, just cause it is sad, does not make it wrong. Don't sign for a loan you cannot pay, and when you cannot pay, don't expect things not to change.

Anyone who thinks housing is a right, needs to get their housing from their socialist gov. not from the private bank. Though I agree, at this point the only people that would move to this county must be stupid for not doing research and these stupid people will likely not understand their obligations under their loans, live here and then eventually bitch on line because companies wont change their contracts.

You need to remember that job loss is common and illness is also common and plan for them when you sign a mortgage. That simple. Leave a buffer. if you make $1000 a month, spend $700 max. If you make $3000 a month, spend $2000 max. So you don't have to go begging your neighbors and people you made clean gov. regulated deals with for a compromise as a rule.

5 days no rent, you are out. 1 month no mortgage payment, you are out. If you thought you needed different terms, you should have pushed for them in your contract people. Don't sign, just rent, I will rent to you, but I will also kick you out if you pay your rent on the 6th. This is not evil, this is business and if you want charity, go to your church or gov, but not to have them change contracts, to have them give you the welfare you need because you bit off more than you can chew.

This is basic, and to fight to change basic contracts is to undermine our system of interaction and agreements.

I do not understand why we even need a court to throw a deadbeat out. The contract says you no longer have rights to the house because you did not pay, I am coming in if I gave you the loan.

When it comes to loans and bitching, why not bitch that the county can tax you for the house they say is worth $300,000, because they think it was in 2004, but you owe $290,000 on it, only leaving $10,000 equity and you cannot even sell it for $150,000, meaning that you actually have negative $140,000 equity in the home. The concept of taxes was to tax everyone, and then to tax the wealth out of people . Owning negative $140,000 of a house is a small amount of wealth and should not result in a $1500 a year tax bill to educate other people's kids, when for the most part they come out stupid enough to sign these loans. Come on. Want to change something that is wrong...pay for your own kids education and you will reduce your neighbor's forclosures...remember that they would be much more stable if you did not DEMAND their income and then change the tax laws so they can only tax your true wealth, not the bank's loan amount.

You as neighbors, do more to harm your neighbors and their financial situation than any banks. Every parent of EACH child demands around $10,000 from their neighbors....and then PRETENDS to be heart broken when they are getting kicked out their homes. What a joke.

The problem is people not paying their own freaking bills, bank loans or snot nosed brats. Do you pay yours, or look to your neighbors for welfare?

SS109 wrote: It used to be illegal in Colorado for a bank to have more than one branch, but the citizens voted down that rule. Time to go back to the days when out of state banks didn't rule our finances? Hard to become a powerful lobby with only one branch bank.

And anyone else like me who use a local mortgage company and a local credit union?

A bank is a place to store money because you do not think it is safe in your own home. A bank is also a business that is willing to lend you money if they feel you are qualified.

What about multiple branches or eliminating freedom is going to make this better????

The problem is people not reading, paying their bills or buying their kids too many Iphones.

Freedom and free markets come with losers. You all love this when you win, and now bitch as you start to even hint at losing.

There are not issues here if people make their payments.....when they don't pay why is someone else's fault?

I can't spell great, but you will never catch me not paying my bills, I will ask my friends, family and neighbors for help before I go and try and break deals or ask for welfare. I assume most others would do the same, ask friends, family and neighbors for a loan before they go on shameful unemployment (meaning that they FAILED at the game of American Life, not only no loved ones, but not control of their finances) paid by the last person to even give them a chance (their last employer). Those who go to the gen public before their loved ones should be ashamed at the taking they have done from society.

Remember, you choose to go to the bank, no one forces you. You do so because you don't trust your front door or your want more than you can afford right now. Either way you are asking them to solve YOUR problem, you sucked them into your life, not the other way around.

Personally I know there is a little less access when using a local credit union, but I just find the big bailed out banks seem to love to add fees anyway they can. I even read a story last month where they would like to limit debit card transactions to $50 at a time to increase their profits. You would likely have to swipe your card twice just to fill up your car this summer.
I disagree with the post above, it is very hard these days to not deal with banks, my paycheck has to be direct deposited.

You mention a debit card. I have NEVER USED one of these, so it must not be important. I spend close to $100,000 a year personally and countless $100,000s professionally, so... Also if one is financially savvy and has a debit card, they should ONLY use it as a credit, NEVER DEBIT. If this is not one of your rules, google why I am saying this and you will never debit anything again. Crazy to give someone open access to your actual cash. Credit provide socialist protections that everyone loves.

Again, I think you are stuck in the rut of I have to vs. I want to. You do not have to direct deposit your check??? You may feel that way, but you have the right to leave your job, you may want it and you feel the direct deposit is worth it, but you are not required. Even better you have the right to start you own company and not take any more jobs, never do direct deposit, etc. I assume you are in CO, so it is very hard to start businesses, as this state is very business unfriendly (see variable local tax rates, fees up the wahoo, huge local govs that need massive support for not only their services but their failed business ventures - note jail and comm center.)

Also, you can tell your employer that you closed your bank account, no longer have it and he/she need to pay you in cash or check. If they fire you, I bet your socialist gov will reverse that process pretty quick. I do not believe that they are able to fire you for the method of payment you are able to accept, though they may make you feel this way and you may roll over and accept it.

A couple decades ago when I was unfortunately in the employee class vs. the entrepreneur class (and it truly is a different class, if you have not been in both you likely do not understand how much lower class an employee is in this country vs. a business owner - even see the tax code, but you will have to understand it) I had a boss that demanded that I get a physical for his Key Man insurance. Insuring me against death because I was critical to his company. I said I would, but he needs to assure that the info was private, because I did not want to loose future rights as our health records, credit scores and all items become public and acceptable to judge us on. He looked things up and said it was private, I said no problem and presented him with an agreement where he would owe me $2 mil if the info ever got out from my physical. He lost his faith in the testers saying it was private, did not sign my agreement and let me stay employed without the testing. I continued to triple his company size, employment and sales (unfortunate because his success, like anyone's, forces more of you to stay in the employee class!!!)

You cannot get fired for this and the more people just back down and go work for others, the more you will have to bitch about systems you have no control of that you feel compelled to be part of but actually are doing so fully via your own will.

Why do you not think that people should honor the agreements they have made? Your government does not even have the right to do this, it is in your constitution, the most basic law of the land. Once a contract is written legally under the current laws, future laws simply cannot change it. THE COURTS HAVE TO GO THROUGH THE PROCESS!!!!! You demanded it of them and expect it of them for all other things. And in the end, when you let people out of their loans that they agreed to and then let them stay in the bank's house....who foots the bill? Have you given anything directly to any neighbors in need....or just kept asking them to pay their taxes for your loved services, scratching your head wondering how this could happen to such nice people? Could you, given you have a job with direct deposit, simply go hand a hundred dollar bill or a few of them to a needy neighbor? Because if you are not going to help them, who is? Please don't tell me that I have to pay my mortgage (which is at a small institution) and then pay a portion of the mortgage of the people you are crying over too, when you have not given directly yet. I hope you have and can tell me to shove it.

Local_Historian wrote: You're assuming that everyone who buys a house is A. educated and/or B. successful. Not so.

I am? Show me where.

Well I have to agree with the Yoyo here - some of it was a little hard to follow but I think I get the gist of it.

In a free society- we are responsible for our financial matters. The other side of risk is reward. The government has totally screwed this up starting in 2008 by using taxpayer money to bail out corporations that it claimed were "too big to fail". That was bullsh**, companies that mis-manage themselves have no right to taxpayer funds to remedy their mistakes. Our government has no right to use our money for this either - it is immoral to do so.

In a free market society - there are risks and rewards. When the government steps with our money we no longer have a free market. In addition, we are setting the worst example ever - that it's someone elses fault if things go wrong.

This is what some Americans think - that it's somehow the banks fault if we can't pay our mortgage. Yoyo is right - those people who borrow more money than they can pay back need to know that the primary fault lies within themselves. I know that circumstances change for people and un-forseen events can happen, but the losers need to go down. It's just as important for the losers to go down with the ship as it is for the winners to reap the reward. It's what makes the system work.

Some of us live below our means, pay our bills and do not overextend ourselves. Others mis-manage or find mis-fortune or whatever. The worst thing we can do is try to even it out.

Why should I pay for the mistakes of others? The losers need to lose so they know what not to do next time.

Yoyo - I think you mis-understand a debit card. Maybe what you ment to say is that a debit card should not be used for credit. I use a debit card - not a credit card. The money is in the bank when I buy with my debit card- it's the same as a checking account. Using a credit card is like spending someone elses money that you have to pay back.

My bank is the one threatening to limit debit card purchases to $50. In addition, they want to add fees for using the card. The first time I am limited in this way or charged a fee- I will be withdrawing all of my money and switching banks. I will not tolerate one single fee or limit.

One reason I can do this is that I do not owe the bank any money- I am free to put my money where ever I want. I also have direct deposit- my employer does not issue cash or checks anymore. I can switch banks in one day - and that's all it's going to take me if my bank starts any tricks.

for those that think it is the deadbeats.
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posteryoyo wrote: You mention a debit card. I have NEVER USED one of these, so it must not be important. I spend close to $100,000 a year personally and countless $100,000s professionally, so... Also if one is financially savvy and has a debit card, they should ONLY use it as a credit, NEVER DEBIT. If this is not one of your rules, google why I am saying this and you will never debit anything again. Crazy to give someone open access to your actual cash. Credit provide socialist protections that everyone loves.

Again, I think you are stuck in the rut of I have to vs. I want to. You do not have to direct deposit your check??? You may feel that way, but you have the right to leave your job, you may want it and you feel the direct deposit is worth it, but you are not required. Even better you have the right to start you own company and not take any more jobs, never do direct deposit, etc. I assume you are in CO, so it is very hard to start businesses, as this state is very business unfriendly (see variable local tax rates, fees up the wahoo, huge local govs that need massive support for not only their services but their failed business ventures - note jail and comm center.)

Also, you can tell your employer that you closed your bank account, no longer have it and he/she need to pay you in cash or check. If they fire you, I bet your socialist gov will reverse that process pretty quick. I do not believe that they are able to fire you for the method of payment you are able to accept, though they may make you feel this way and you may roll over and accept it.

A couple decades ago when I was unfortunately in the employee class vs. the entrepreneur class (and it truly is a different class, if you have not been in both you likely do not understand how much lower class an employee is in this country vs. a business owner - even see the tax code, but you will have to understand it) I had a boss that demanded that I get a physical for his Key Man insurance. Insuring me against death because I was critical to his company. I said I would, but he needs to assure that the info was private, because I did not want to loose future rights as our health records, credit scores and all items become public and acceptable to judge us on. He looked things up and said it was private, I said no problem and presented him with an agreement where he would owe me $2 mil if the info ever got out from my physical. He lost his faith in the testers saying it was private, did not sign my agreement and let me stay employed without the testing. I continued to triple his company size, employment and sales (unfortunate because his success, like anyone's, forces more of you to stay in the employee class!!!)

You cannot get fired for this and the more people just back down and go work for others, the more you will have to bitch about systems you have no control of that you feel compelled to be part of but actually are doing so fully via your own will.

Why do you not think that people should honor the agreements they have made? Your government does not even have the right to do this, it is in your constitution, the most basic law of the land. Once a contract is written legally under the current laws, future laws simply cannot change it. THE COURTS HAVE TO GO THROUGH THE PROCESS!!!!! You demanded it of them and expect it of them for all other things. And in the end, when you let people out of their loans that they agreed to and then let them stay in the bank's house....who foots the bill? Have you given anything directly to any neighbors in need....or just kept asking them to pay their taxes for your loved services, scratching your head wondering how this could happen to such nice people? Could you, given you have a job with direct deposit, simply go hand a hundred dollar bill or a few of them to a needy neighbor? Because if you are not going to help them, who is? Please don't tell me that I have to pay my mortgage (which is at a small institution) and then pay a portion of the mortgage of the people you are crying over too, when you have not given directly yet. I hope you have and can tell me to shove it.

So how do you pay bills, with a credit card or check? I have never had any issues with my debit cards.
And I am not against all banks, but small banks generally aren't too big to fail, unlike the big guys, who have many lobbyists and influence politicians.

And I believe that foreclosures should be allowed to go forward. Not held up right now as big banks choose not to flood the market keeping property values at artificially high levels.

I also think forclosures should move foward as fast as the law allows and the government should keep it's big nose out of it- and everything else associated with mortgages.

The banks who made the bad loans should go broke. Their assets should be auctioned off to the highest bidder- and the loan officers and bank officials should be looking for another job- maybe in a different field that they might be actually qualified for.

The folks on wall street who bought the bad loans after the banks sold them should lose their money.

Banks who wish to hold on to underwater real estate can do so if they wish - just don't ask for taxpayer money to bail them out. Eventually - the banks will need to dump the real estate.

The free market is the most efficient- fastest and cleanest way to resolve this mess. If it were allowed to operate- this real estate mess would already have been resolved. Government regulation and meddling is prolonging the inevitable. The housing recession we are in will last years longer than necessary because of government intervention.

The real estate and home market is in bad shape now because there are more sellers than buyers. This is today's reality. It must be allowed to bottom out- sell the bad real estate for what the actual market value is today - before the market can turn around and get better.

What the government is doing is propping up this market - and buyers know it. Even those who can buy are waiting because they know real estate is still overpriced. A healthy real estate market depends on the free market- and we don't have a free market right now.

Just after a market driven bottom, the promise of better days start to emerge. Even the jobs market would pick up as prices for real estate start back up again. It could take many years for this to happen under the current policy of propping up a bad market.

So yea - everybody here is at fault- the homeowner who bit off more then they could chew- the bank who made the bad loans- the government who promoted these bad loans- and the investor who invested in bad loans. They all need to go down with the ship and get out of the way of those of us who did it right.

Then we will see better times ahead.