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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: What do you make of this?
Posted by MrsFlatbread
One word:
Trash
Maybe she should have tried buying a house she could afford.
I would have liked a much bigger house.
I can't tell you the amount of stress the size of my house brings me. We barely have room for our baby that's on the way. I feel like we are drowning with no place to put anything.
But guess what? We bought what we could afford.
And we DEAL with it.
That's the problem in this country these days- everybody wants, wants, wants. And they feel they are entitled to all these material things.l
Well then get a better job - but don't go buying sh!t you can't afford and expect everyone else to suffer for it.
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Posted 4/12/10 10:45 AM  |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: What do you make of this?
Posted by BriBri2u
We could have taken out another $200,000 but we decided to not "stress" ourselves out 
DH and I were approved for MUCH more than we bought.
We bought based on one salary to be "safe" amd also bc I plan to stay home for a while when we have a baby.
Would we have liked a larger home? um yeah but we did the RESPONSIBLE thing
Message edited 4/12/2010 10:49:04 AM.
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| Posted 4/12/10 10:48 AM |
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Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
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Re: What do you make of this?
Posted by MrsPJB2007
I can't tell you how many of my tax clients have told me they were doing this.
So many brought their paperwork in and we would ask for the 1098 Mortgage interest statement that they had the previous year, and they say "Well we haven't paid the mortgage in 1 year." Then they explain they are just 'riding it out' right now, and waiting for the home to be foreclosed.
UNREAL
Right!? Isn't this insane?!
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| Posted 4/12/10 11:06 AM |
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photoshopbabe
wow....
Member since 5/07 2197 total posts
Name:
linda
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Re: What do you make of this?
Posted by Ayne11
Aaaaaaaaand this is why my DH & I can't buy a house.
EXACTLYYYYYYYYYY
Thank you.
And this is WHY we are in the economic situation we are in right now.
Because of people like this.
Total & Utter disgrace.
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| Posted 4/12/10 11:06 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: What do you make of this?
Posted by Tilde
I hope I don't offend anyone by saying this but I honestly feel like people just don't have any integrity anymore. I KNOW people are going through tough times but can we honestly say we have it HARDER than the generations before us? The lack of integrity and of pride is really sad to me.
I agree with you.
my grandfather is   at how "tough" things are right now. but he grew up in the depression (he was 5 years old when the market first crashed).
we are collectively, a sad and sorry and "entitled" generation. and I don't mean just "entitled" by govt help, I also mean "entitled" with the idea that it's A-OK to screw people over for profit.
b/c as much as people getting bailed out may seem "entitled" so too are those that led them down the primrose path in the first place (shady brokers/lenders etc)
I also want to say that what the OP's friend is doing is NOT what the bailout program is. you have to be eligible for a bailout.
what she is doing is just DECIDING she doesn't want to continue paying for something...just b/c she sees an easy way out. not b/c she is destitute. not b/c she and her man can no longer support the payments....but b/c they've found away to get the same for less.
isn't that the american way?
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| Posted 4/12/10 11:08 AM |
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Jax430
Hi!
Member since 5/05 18919 total posts
Name:
Jackie
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Re: What do you make of this?
This disgusts me. People have such a sense of entitlement. No one forced anyone to buy a house during the bubble, or to take out a high interest rate mortgage or ARM. People made these choices on their own, and now they don't want to deal with the consequences. It infuriates me, as DH and I save whereever we can in order to make sure we pay our mortgage and other bills so that we can afford our house! It stinks that people like your friends are making it more difficult for other potential homebuyers to secure mortgages.
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| Posted 4/12/10 11:09 AM |
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lakadema
LIF Adult
Member since 5/08 1180 total posts
Name:
Danielle
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Re: What do you make of this?
Your friend is a prime example of everything that is wrong with "adults" right now. Act like an adult. You bought the house at a certain price, make the payments. I hope this person does not have any children as they would be a BAD example for them.
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| Posted 4/12/10 11:13 AM |
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Bellaocchi
Hope Faith Love
Member since 2/07 5694 total posts
Name:
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Re: What do you make of this?
d
Message edited 8/25/2010 10:53:42 PM.
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| Posted 4/12/10 11:14 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: What do you make of this?
It's sad. I could see a desperate situation thinking of doing this but in the end it will not help anyone. Once your credit is trashed by a foreclosure it can take a long time to recover. You won't even be able to get a utility account in your name w/o a substantial deposit.
I'm in the middle of a bad situation and the banks have turned me down for a modification. We are still pursuing it but we have a legit hardship and they still turned us down. So they are not necessarily just giving bailouts to anyone.
These people will pay for their actions. It will be a personal decision that is not ethical but hopefully in the end they will regret it.
Message edited 4/12/2010 11:17:51 AM.
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| Posted 4/12/10 11:16 AM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: What do you make of this?
Posted by Ophelia
I also want to say that what the OP's friend is doing is NOT what the bailout program is. you have to be eligible for a bailout.
I *think* those who mentioned the bailout, were not calling the OP situation part of the bailout program. I think, as in my post, the bailout program just came up in conversation in regards to defualting on mortgages. Not bc anyone thought that what the OP friend was doing was considered part of the bailout program.
I know in my case, I was just speaking of the bailout as part of a larger mortgage issue, where eligible or not, unless you have lost your job or have medical issues preventing you from paying, it pisses me off that people overextended themselves, took out sub-prime loans, loans were they knew the ARM could be raised and now are crying poverty and the rest of us have to bail them out. I was just speaking of another side of the mortgage issue.
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| Posted 4/12/10 11:21 AM |
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bri1980
LIF Adult
Member since 9/06 1364 total posts
Name:
Brianne
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Re: What do you make of this?
Posted by photoshopbabe
Posted by Ayne11
Aaaaaaaaand this is why my DH & I can't buy a house.
EXACTLYYYYYYYYYY
Thank you.
And this is WHY we are in the economic situation we are in right now.
Because of people like this.
Total & Utter disgrace.
Exactly. That is disgusting.
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| Posted 4/12/10 11:23 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What do you make of this?
for people who have legitimate hardship, it is is understandable, but just b/c you don't want to pay...is just ridiculous....
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| Posted 4/12/10 11:48 AM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: What do you make of this?
Posted by Tilde
I hope I don't offend anyone by saying this but I honestly feel like people just don't have any integrity anymore. I KNOW people are going through tough times but can we honestly say we have it HARDER than the generations before us? The lack of integrity and of pride is really sad to me.
Beautifully said Tilde.
I would work 4 jobs, scrub toilets, clean dishes and sweep streets before I'd let the bank take my home. And this woman is looking to just let it go because she want's something 'better'? Tilde is right.. it boils down to the fact that she lacks pride and lacks integrity.
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| Posted 4/12/10 11:49 AM |
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GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
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Re: What do you make of this?
Posted by MrsFlatbread
for people who have legitimate hardship, it is is understandable, but just b/c you don't want to pay...is just ridiculous....
I understand legitimate hardship but there are other ways to go about it. My parents had a mortgage they could afford.
Then, my dad got laid off.
Then, he could only find an entry level position at the airport.
So, they couldn't afford their mortgage any more. But they did what they could. They SACRIFICED and my dad has never been late on a single payment, something he takes great pride in.
And when they couldn't do it anymore - they looked into selling and starting over. DH and I bought the house instead but there was NEVER though of defaulting or any other scheme. And even though it turned out the way it did, I am so proud that my dad kept that house for 40+ years honestly, and with integrity!
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| Posted 4/12/10 11:56 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: What do you make of this?
Posted by eddiesmommy
Posted by Beth
Posted by MissRadiant
Posted by Beth
Posted by MissRadiant
I don't know anyone that is doing this, I am sorry but I think it is disgusting. We all work hard for what we have and that little scheme is just another way of "getting over". So it's ok for them to live rent free save a ton of money and probably get a better and nicer home in 2 years bc they got fed up??? It's just not fair.
the one thing they are most def not getting is a bigger nicer home- unless then can save up the cash to buy it
If they are capable of pulling this off, you never know what they can and will do.
one missed mortgage payment = 100 points or more off your credit on average
now figure 2 years
plus foreclosure
and most likely judgements and being sued...
good luck trying to get approved for a new loan
they really aren't pulling off anything here...
I think you may have missed the point...no offense.
the point I think some people were making, was that its not the same person whose name is currently on the defaulted mortgage applying for a new one.
Its a spouse who wasnt on the current mortgage or something of that nature, where their credit is not harmed as they have not defaulted on anything.
I didn't miss the point- I just know how mortgages work more then the average person- no offense
you can't just take a name off a loan- you MUST refi it off- banks don't just let you call up and say ok take my husband - doesn't work like that
so I see alot of holes in this story- this is what I do for a living
it's also really hard to get a mortgage in just one half of the married couples name when married- the bank will want to know why the other half of the couple is not on the loan- and a credit check will be done- trust me
this situation could only be pulled off if the house was purchased prior to being married- and even then- it's still a gamble
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| Posted 4/12/10 11:57 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: What do you make of this?
I do believe she mentioned that she would put everything under her parents names.. also while mentioning taking her husband off the loan. Here is the thing. The parents live in another country right now. I believe she is going to bring them here to live eventually. I was thinking more and more about the things that she told me yesterday and now it's really pissing me off. While I do not and would not turn her in for this, I did fantasize about it. It's none of my business, but then again it really is all of our business! This is the reason why we are in the crapper! 
again...not that simple...do her parents show income???? do they work in the US????
I see on a daily basis the hoops people with perfect credit and situations go thru to get loans- times have changed
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| Posted 4/12/10 12:01 PM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: What do you make of this?
Posted by BJandDan
Posted by KLSbear
Posted by Christine
I think it's complete and utter BS. They CHOSE to buy a house at the price they bought it at and AGREED to make these payments. Shame on them.
I agree with this - shame on her. On top of it, your friend is an selfish, irresponsible idiot that doesn't care a bit about anyone but her self-centered little a$$. She made a commitment to her mortgage and now because she can't afford what she purchased she's screwing the lender and ruining her credit because it suits her selfish needs and she's screwing her neighbors and the rest of LI by adding to the foreclosures. If her DH leaves her or dies she's SOL with ruined credit and she'd deserve what she gets.
These two sum up what I think perfectly. She's a disgrace.
Agreed.
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| Posted 4/12/10 12:02 PM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: What do you make of this?
Posted by Tilde
I hope I don't offend anyone by saying this but I honestly feel like people just don't have any integrity anymore. I KNOW people are going through tough times but can we honestly say we have it HARDER than the generations before us? The lack of integrity and of pride is really sad to me.
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| Posted 4/12/10 12:04 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name:
Jeannie
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Re: What do you make of this?
Posted by Tilde
Posted by MrsFlatbread
for people who have legitimate hardship, it is is understandable, but just b/c you don't want to pay...is just ridiculous....
I understand legitimate hardship but there are other ways to go about it. My parents had a mortgage they could afford.
Then, my dad got laid off.
Then, he could only find an entry level position at the airport.
So, they couldn't afford their mortgage any more. But they did what they could. They SACRIFICED and my dad has never been late on a single payment, something he takes great pride in.
And when they couldn't do it anymore - they looked into selling and starting over. DH and I bought the house instead but there was NEVER though of defaulting or any other scheme. And even though it turned out the way it did, I am so proud that my dad kept that house for 40+ years honestly, and with integrity!
Same with my parents. My father bought a house that he easily afforded.. and then there was a huge construction freeze and crisis in the 70's and my dad was out of work. My mother - took a job for the first time in her marriage. It was only for a year or two.. but she pitched in. My father - an engineer with 2 Masters degrees worked any odd job that could be found - he wasn't above anything. For a while it looked like it wouldn't be enough and they made plans to list our home and move us all to Iran (there was a job opportunity for my father there). But the dam broke, my dad got a job back by some Grace of God. And they kept their home. And they raised their kids and they paid for colleges and they paid for retirement. But he NEVER would have sat in his house and waited for the bank to come and collect it and throw him on the street. He made a commitment to the bank and he honored it. I hope there are more people like our parents than like the OP's friend.
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| Posted 4/12/10 12:04 PM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: What do you make of this?
Posted by Beth
I do believe she mentioned that she would put everything under her parents names.. also while mentioning taking her husband off the loan. Here is the thing. The parents live in another country right now. I believe she is going to bring them here to live eventually. I was thinking more and more about the things that she told me yesterday and now it's really pissing me off. While I do not and would not turn her in for this, I did fantasize about it. It's none of my business, but then again it really is all of our business! This is the reason why we are in the crapper!
again...not that simple...do her parents show income???? do they work in the US????
I see on a daily basis the hoops people with perfect credit and situations go thru to get loans- times have changed
We KNOW, .....in this case, we are assuming that she has the ability to do this, hence why she is taking these steps.
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| Posted 4/12/10 12:04 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: What do you make of this?
Posted by eddiesmommy
Posted by Beth
I do believe she mentioned that she would put everything under her parents names.. also while mentioning taking her husband off the loan. Here is the thing. The parents live in another country right now. I believe she is going to bring them here to live eventually. I was thinking more and more about the things that she told me yesterday and now it's really pissing me off. While I do not and would not turn her in for this, I did fantasize about it. It's none of my business, but then again it really is all of our business! This is the reason why we are in the crapper!
again...not that simple...do her parents show income???? do they work in the US????
I see on a daily basis the hoops people with perfect credit and situations go thru to get loans- times have changed
We KNOW, .....in this case, we are assuming that she has the ability to do this, hence why she is taking these steps.
what do we KNOW?
in order to get away with doing this she must first get her husband off the loan
inorder to do that- you must refi
she is either already late or the house is worth more then she owes
Plus she would have to be able to be approved for the total loan amount
I don't see how she is getting her husband off this loan
while in theory doing something like this work- in real life- it doesn't
Message edited 4/12/2010 12:10:16 PM.
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| Posted 4/12/10 12:08 PM |
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BriBri2u
L'amore vince sempre
Member since 5/05 9320 total posts
Name:
Mrs. B
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Re: What do you make of this?
Posted by Tilde
Posted by MrsFlatbread
for people who have legitimate hardship, it is is understandable, but just b/c you don't want to pay...is just ridiculous....
I understand legitimate hardship but there are other ways to go about it. My parents had a mortgage they could afford.
Then, my dad got laid off.
Then, he could only find an entry level position at the airport.
So, they couldn't afford their mortgage any more. But they did what they could. They SACRIFICED and my dad has never been late on a single payment, something he takes great pride in.
And when they couldn't do it anymore - they looked into selling and starting over. DH and I bought the house instead but there was NEVER though of defaulting or any other scheme. And even though it turned out the way it did, I am so proud that my dad kept that house for 40+ years honestly, and with integrity!
I agree. There are ways around legitamate hardship. My mom was left with 2 mortgages & 3 kids under the age of 10 when my Dad died.
She went back to work during the week. Cleaned houses after that job & on the weekends.
We didn't go on family vacations that involved flying, we had clean clothes, food on the table & a roof on our heads. She NEVER treated herself to anything new or nice. We only got 2 gifts each at Christmas.
She paid BOTH mortgages off ON time with absolutely NO help from anyone.She also managed to put savings accounts away for all 3 of us, so we had some $ when it came to college.
She just sacrificed to pay off what she promised she would pay off.
People who scam their way out of paying their owed debt are scum...really not much else to say.
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| Posted 4/12/10 12:09 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: What do you make of this?
Hey, with this philosophy, I'm going to go out and get a new wardrobe with my credit card and then declare bankruptcy
I agree with all the strong words used - selfish hits the nail on the head.
I'm selling my house for a 50K loss - suck it up, I say.
Posted by Ophelia
we are collectively, a sad and sorry and "entitled" generation. and I don't mean just "entitled" by govt help, I also mean "entitled" with the idea that it's A-OK to screw people over for profit.
isn't that the american way?
eh - I don't know about how righteous Americans were in the past. Robber Barons did worse.
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| Posted 4/12/10 12:09 PM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: What do you make of this?
Posted by Beth
what do we KNOW?
oh nevermind....forget it.
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| Posted 4/12/10 12:15 PM |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: What do you make of this?
There was a similar conversation about this almost a year ago (on the home board). At that time, no one had yet heard about it and the OP was telling us that is was coming. Guess what? It's here now.
It is appalling that someone would choose to walk away from their responsibilities but like others have said people feel entitled today and have no integrity. It sickens me.
Some people work so hard to protect the little they have and others so flippantly toss it all away
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| Posted 4/12/10 12:15 PM |
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