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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: More govmt interference with foreclosures may be coming. Posted by BCA on February 25, 2010 at 10:24 PM In Reply to: More govmt interference with foreclosures may be coming. posted by Alfred, SoCal on February 25, 2010 at 6:08 PM : http://www.bloomberg.com/apps/news?pid=20601087&sid=ahuuwBS8KYq8&pos=1 I purchase foreclosures and the vast majority of the borrowers that lost their property that I speak to at the cash for keys phase do not want to stay in home if they have pay any rent or if they have to pay anything on a routine (monthly) basis including a reduced mortgage payment. When they found out or learned from the media and other sources that they can stay without paying for 1 to 3 years, the lure or enticement that has been put out there for them was too great especially if they found it difficult to make regular payments to begin with. When they do not make payments for years and live in great homes while doing so, its hard to start making payments again and their mentality appears to change. Follow Ups: Finger in the dike.... SSinOC 4:15 PM, 02/26/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : http://www.bloomberg.com/apps/news?pid=20601087&sid=ahuuwBS8KYq8&pos=1 : I purchase foreclosures and the vast majority of the borrowers that lost their property that I speak to at the cash for keys phase do not want to stay in home if they have pay any rent or if they have to pay anything on a routine (monthly) basis including a reduced mortgage payment. When they found out or learned from the media and other sources that they can stay without paying for 1 to 3 years, the lure or enticement that has been put out there for them was too great especially if they found it difficult to make regular payments to begin with. When they do not make payments for years and live in great homes while doing so, its hard to start making payments again and their mentality appears to change. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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