Banks Starting To Walk Away From Foreclosures
posted by Bob at Saturday, April 04, 2009
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11 Comments:
Hud may walk away from City St.Paul, check Wed's Agenda Item 9
12 mill here, and millions there
When will it end?
I don't blame them. It costs less to walk away than deal with the out of touch code compliances these cities want to victimize you with.......but thngs will get better when the cities have to deal with the reality of the "unintended consequences" of their actions.
(why does Bob bother to link to stories that aren't going to get read?)
Hey dumbasses,
Its a New York Times article that mentions several cities and guess what? St Paul is not one of them.
For the 50th time, St Paul is not in the top 100 cities in America with a foreclosure problem (I've posted the data her over and over). Now stop complaining and go maintain your property.
You people don't understand anything that is not explained to you by someone you know.
Eric
Eric thinks that if he talks to people like babies, they will 'maintain their properties.'
Eric, there are major abuses taking place with code compliances.
Eirc, grow up!
Eric thinks that if he talks to people like babies, they will 'maintain their properties.'
I would not use that language with children or babies. Its reserved for adults who are purposely acting like they don't understand, but really do.
I know all too well that language doesn't get people to comply with maintaining their property. That's why we have code enforcement.
Eric
This actually is a good story for a lot of "investors" to read.
The woman owned this house as an investment property. She went belly up on the mortgage. The bank went to foreclose and then changed their mind. She still owns it, not the bank and she is going to get hit with the demo costs. SMART BANK!
What the banks are realizing is that there are a bunch of "wise guys" still out there that are sucking the rents out of the properties until the end and letting the place go to forecloser, putting all of the costs on the bank.
This is an interesting play for the bank.
JMONTOMEPPOF
Chuck Repke
"You people don't understand anything that is not explained to you by someone you know."
LOL!!!!!!!!
Sock it to em Eric. I love it!
"You people don't understand anything that is not explained to you by someone you know."
I had the same feeling. Good one Eric!
I had a very miserable day Eric and I enjoyed coming back here once again to read your words about how these guys don't understand anything. The laugh I got from your words were helpful. Keep it up. These guys need someone to hold a switch to thier fannies so they don't get too far out of line.
I don't understand predatory code enforcement. While Eric dismisses abuses with sarcasm, 'intellectual' arguments, and potty mouth, I still don't understand predatory code enforcement.
Predatory code enforcement is a term created by the landlords who are suing the city.
Their claim is that they are targeted because of who they rent to.
In their own testimony every last one of them admitted to their property having code violations. I repeat, their property really did have code violations. Their tenants were not all of minority status either. Some pretended that they couldn't recall the race of their tenants (yet, they signed on to the lawsuit) and others admit that they own other property with minority tenants and have not had visits from code enforcement.
Most of the code inspections are generated through calls into DSI from neighbors reporting violations. Since badly kept rental property is a drag on other property values nearby, people tend to report garbage, rats, broken windows and abandoned cars.
Predatory enforcement is not prevalent among the group suing.
Eric <---Now with more Fiber and less Potty Mouth!
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