Tue 9 Mar 2010
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At least it was a different house this time. However, they did take a parrot hostage and hold it in an remote/unspecified location over 3 hours away.
Like most of these events, Band of America trashed her house and didn’t want to make things right. However, in unprecedented irony for a shady bill collector, BofA asked the *victim* to stop calling them and told her that “they were tired of hearing from her.”
Bank of America Forecloses on Wrong House; Holds Parrot Hostage
Tue 9 Mar 2010
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Bank of America entered a Floridian couples house, changed the locks and took out a lot of their possessions. They also caused substantial damage to the property and significant monetary loss. To make matters worse, the owners had paid cash for the home. There wasn’t even a lien on it.
We’d like to be able to give you advice on how to avoid erroneous foreclosure, but we’re not sure even the savviest consumer can combat errors of this magnitude. We’ll only suggest that when you’re dealing with banks on major issues, be sure to get the name of everyone you talk to, keep notes and then follow up your complaints in writing to create a paper trail.
Bank of America Forecloses on Wrong House
Sun 21 Feb 2010
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Don’t try this at home. Apparently some genius who was getting foreclosed on thought they’d one-up the bank by bulldozing the house that the bank was trying to take back. Obviously this falls into the “insanely stupid” category and it’s probably criminal as well.
His plan was to “teach the bank a lesson” but he seemed to miss out on a couple of minor issues related to foreclosures. Namely, you still owe the entire amount of the loan even if the home is foreclosed on. So, if you owe $300k and the house sells for $250k in foreclosure, you still owe the remaining $50k. By destroying the house, he is now liable for the entire amount since there’s no collateral to offset the debt.
Furthermore, if the house actually sold for ($350k) MORE than the mortgage balance ($160k) as he claimed, the excess proceeds would be returned to him less legal fees, etc. So, this guy ends up destroying about $150k-$200k of his own personal money.
There’s no cure for “stupid” any the only thing dumber than this guy is the number of posters in the comment section who think this guy is hero/genius.
Owner Bulldozes Home Prior to Foreclosure
Tue 9 Feb 2010
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Looks like some investors in New York are going to lose their housing project since they failed to make their $16M loan payment in January. The property was originally bought in 2006 for $5.4 billion … though now it’s worth a paltry $1.8 billion.
I guess that’s one of the benefits of using “other peoples money”.
http://news.yahoo.com/s/ap/20100125/ap_on_bi_ge/us_stuyvesant_town
Sun 3 Jan 2010
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I’m really sick of the major media outlets harping on the “recession” and going on and on about how the end of the world is just around the corner.
Then I have to listen to those no-nothing talk-show pundits repeat that garbage as if it were the gospel. It must be true; it was on the news ™. And for what they’re lacking in accuracy, they’re more than making up for with repetition and increased volume.
Personally, we’ve had our best year ever in real estate (thanks friends and clients!) and we’re looking forward to having a great 2010 as well. So, when I stumbled across this article, it was pretty much a big fat DUH. At least somebody bothered to note that things aren’t really that bad (unless you live in CA, FL, MI or NY in which case you’re totally screwed). Bonus: 6 of the 10 cities are in Texas!
Yahoo: 10 housing markets where prices have gone UP!.
Fri 11 Dec 2009
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Here’s a time-lapse video showing US unemployement by county from January 2007 to the present. It’s a nice combination of scary and interesting.
Fri 11 Dec 2009
Posted by David under Uncategorized
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After years of slacking, we *finally* got our blog installed and this is the first post! We’re still tweaking the design but we hope that future posts will be full of relevant information that people actually care about.
Future posts will likely include: product reviews, upcoming Denton events, local Denton news/issues, real estate updates, rants and whatever else people would like to see posted.
Feel free to comment, leave feedback, etc We’re looking forward to developing this more in near future.
Mon 23 Nov 2009
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Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!