I read the foreclosure thread. As a front line real estate agent who sold 37 short sales and bank owned homes last year, please allow me to share because this %$%$%$%$ is going to blow your mind.
59 X street Norton. Homeowner is disabled and wheelchair bound has a total disability check of $917 per month. Wells Fargo gives him $200,000 mortgage in 2002. The payments are $1,400 per month. After he wipes out his savings and money from a law suit, a few years later, they give him a home equity loan of $50,000 to pay his mortgage with. He made that last a long time. Now he is out of equity and money and time. The bank is ready to foreclose and he has nowhere and I mean nowhere to go. Out of the house and into his car. What a great country. Was he wrong ..yes should this %$%$%$%$ happen, hell no. BTW he is a white male vet.
How about this one. Lady makes $19,000/year factory work and $11,000 year nursing home part time. She owes $280,000 on her $200,000 house. Her note is $2,600 / month. She has her brother. mother and friend move in so she can save the house she had for 14 years after using it as an ATM. Out of time and out of dough. Ironically she can't fit all the crap she brought with the refi money into her 2 bedroom apartment so it sits in the garage and in the basement as a mute testimony to her stupidity.
These more much more. If you give a %$%$%$%$ let me know and I will keep going.
America is chock full of dumb asses that must be keep from hurting themselves, that's why we have the federal government to protect us from ourselves. This self policing bull%$%$%$%$ is just that bull%$%$%$%$.
One more this is good for a few laughs. A American woman from Puerto Rico marries an immigrant from El Salvador. He gets a job as a maintenance man at a local college, she works full time at a mail house, running a label machine. They buy a 2 family and go on to have 3 kids. 15, 6,and 4. He develops a drinking problem and gets a few DUI's over the years. Last summer he is %$%$%$%$faced gets pulled over after he hits a parked car, then punches the cop in the face. The cop kicks his ass ( btw I am ok with that). Off to jail he goes 7 months in county. A wake up call right. oh-oh guess who forgot to get his citizenship....only has a green card... He goes before the judge after the prison term is up and bingo after 19 years in the US an American wife , a good job, 3 kids a home. Sorry drunky does not matter. The judge orders him deported to El Salvador.. never to return. He is on the ultimate Sorry your not on the list, list.The Patriot Act in action..(yessssssss) So he lives at a church in El Salvador, his whole family lives in the USA mom ,dad, brother and sisters. Can't get a job in El Salvidor unemployment is 35%.. Wife is losing house to bank as she only makes $1300 a month.
The kicker is, I hope your are sitting down. She is getting food stamps now and will be moving into free housing paid for by our tax dollars. Yes the American way. I am so glad the government is around to protect us.
I hope you enjoyed reading these true tales from the street as I did writing and living them. I got into real estate so I could help people achieve there dreams not bury them. We %$%$%$%$ed up so lets fix it.
Goodnight..(Paul Harvey).
