Do you know anyone who has been foreclosed on? - Page 2 - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

SeattleUte · 09-29-2008, 10:20 PM

Quote:

Originally Posted by MikeWaters

2.8% is a lot.

But the root of the problem is that houses became unaffordable. Prices have to come down.

They became unaffordable because any joe could borrow beyond his means to buy the house of his dreams. That all started on Wall Street. We need to let the values go down and also burn all that confederate money floating around people have been using as currency.

SeattleUte · 09-29-2008, 10:22 PM

Quote:

Originally Posted by MikeWaters

If so, state what part of the country.

I don't know a single person that has been foreclosed upon. Maybe if I still went to Ward Council and Bishopric, I would know.

No.

landpoke · 09-29-2008, 11:17 PM

Quote:

Originally Posted by SeattleUte

"Share a back fence"? Is that street jargon for a foreclosure?

Around here that's a euphemism for anal sex. I don't know if the same holds true for Utah.

YOhio · 09-29-2008, 11:35 PM

I purchased a foreclosed house and we still occasionally get the guys' mail. My neighbors said that one night around 10 p.m. a Ryder truck pulled up and he was gone the next day.

TripletDaddy · 09-29-2008, 11:41 PM

Quote:

Originally Posted by YOhio

I purchased a foreclosed house and we still occasionally get the guys' mail. My neighbors said that one night around 10 p.m. a Ryder truck pulled up and he was gone the next day.

Sounds dangerous. I dont think I will be crashing at your place next Sep when SC plays OSU.

MikeWaters · 09-29-2008, 11:50 PM

Quote:

Originally Posted by YOhio

I purchased a foreclosed house and we still occasionally get the guys' mail. My neighbors said that one night around 10 p.m. a Ryder truck pulled up and he was gone the next day.

Wow. Someone used a moving truck to move. I'm sure the ripples went through the neighborhood.

Archaea · 09-30-2008, 12:08 AM

Quote:

Originally Posted by landpoke

Around here that's a euphemism for anal sex. I don't know if the same holds true for Utah.

Since that's so infrequent, they don't develop euphemisms for it. In Wyoming one can see why multiple idioms are necessary.

UtahDan · 09-30-2008, 12:19 AM

Quote:

Originally Posted by MikeWaters

If so, state what part of the country.

I don't know a single person that has been foreclosed upon. Maybe if I still went to Ward Council and Bishopric, I would know.

My extended neighborhood, all of which was built in the last 5 years, has maybe four or five hundred homes in it. We are at the very edge of DC suburbia and in that period 5 years ago a phenomenal residential building boom hit this area. Everything was too expensive in Northern Virginia proper and people could come out here and get a new single family home for what they would pay for a 20 year old town house up there. Or a nice new town house for the cost of an old condo up there. Assuming you could handle the hour to hour and a half commute.

Last time I checked, about 40 of those four or five hundred homes are in foreclosure. About six months ago I was looking into picking a foreclosure property up (I didn't ultimately) and used the local GIS system to look into the tax assessed value of the properties, just comparing taxes against market value. The GIS system also shows the first name on the deed and this revealed something almost completely unexpected. All of these foreclosed that I looked at (about 20) with the exception of two showed record owners to be Gonzalez, Matinez, Lopez, Ramirez, etc. All latino.

As I thought about it, it dawned on me for the first time how many of these homes had been occupied by multiple families. It must have been the case that multiple incomes were relied upon to write the loans, and I would be willing to bet that a fair number of these folks were undocumented. This is just anecdotal, but it makes me wonder how many mortgage brokers wrote loans to illegal aliens or at least to poor latino familes, or groups of them, knowing that they weren't good risks. This may just be unique to my area but I still find it interesting.

Also, there is one guy in my ward who is letting a rental property of his go into foreclure (he has no choice) but other than that I don't know anyone personally.

Jeff Lebowski · 09-30-2008, 12:36 AM

I know several.

SoCalCoug · 09-30-2008, 12:40 AM

I do. In Orange County.

09-30-2008, 12:36 AM	#19
Jeff Lebowski Charon Join Date: Jan 2006 Location: In the heart of darkness (Provo) Posts: 9,564	I know several. __________________ "... the arc of the universe is long but it bends toward justice." Martin Luther King, Jr.

09-30-2008, 12:40 AM	#20
SoCalCoug Senior Member Join Date: Aug 2005 Location: Orange County, California Posts: 3,059	I do. In Orange County. __________________ Get your stinking paws off me, you damned, dirty Yewt! "Now perhaps as I spanked myself screaming out "Kozlowski, say it like you mean it bitch!" might have been out of line, but such was the mood." - Goatnapper "If you want to fatten a pig up to make the pig MORE delicious, you can feed it almost anything. Seriously. The pig is like the car on Back to the Future. You put in garbage, and out comes something magical!" - Cali Coug

09-29-2008, 11:35 PM	#14
YOhio AKA SeattleNewt Join Date: Jan 2006 Posts: 7,055	I purchased a foreclosed house and we still occasionally get the guys' mail. My neighbors said that one night around 10 p.m. a Ryder truck pulled up and he was gone the next day.