Congresswoman advocates Squatting in your foreclosed home

Discussion in 'Economics' started by lrm21, Feb 1, 2009.

  1. lrm21



    What happens when the sheriff office busts down your door.

    <script src="" type="text/javascript"></script><noscript>Embedded video from <a href="">CNN Video</a></noscript>
  2. What a shock, she's a democrat.

    I wonder how soon it will be before liberals like her are advocating bank robbery?
  3. "Only if they have high quality legal representation"..Who would be paying for these high legal fees...Taxpayer f*cked again!
  4. Isn't this the biggest social housing project in the world? anyway her house looks pretty nice and clean.:) waybetter than some of the housing project in big city.
  5. I'm guessing local law enforcement will begin taking the side of the property owners soon. Yes, its their job to enforce the law. I've used the process myself, to get tenants out of rental property, and it's not fun for either side. But, as municipalities begin trimming budgets, laying off police and fire employees, there could be a real change of mindset. Can you imagine being a deputy, being laid off, having your home foreclosed on, and a former co-worker comes to your door to say the bank wants their property back ?...not good

    This whole deal has everyone to blame. The subprime borrower for buying in the first place, knowing that the reason they are labeled subprime, is because they can't manage money well enough to pay bills on time.

    The broker, who sat down across from the borrower and said.."don't worry about that reset interest rate, in 3 years your home will be worth much more, you'll have good equity, and after making all your payments on time, your credit score will be much better. You'll be able to qualify for a new loan at a lower fixed rate .." LMAO...and I've got a bridge for sale. The brokers knew what the end result would be. A zebra can't change his stripes. If you can't pay your bills today, didn't pay them last year, why the hell does anybody think you're gonna pay them next year ??

    The banks, for pushing, and pushing, lower rates, no down payment, no documentation. All those gimmick programs, to get people to buy. The saying was, " if you can fog up a mirror, you can buy a house." Basically, the only requirement was be alive, and be able to sign here, here, here, and here..or just put an X.

    So now, it's collapsing at an alarming rate. The broker, who made a fortune on this crap, is now going hungry, looking for a "real" job. The homeowners are being kicked out left and right, often with nowhere to go. And the banks, well, you know the story. The broker, if he found a job, and the borrower, if he/she still has a job, will be forced via higher taxes to reward the banks for what will go down as one of the worst investment models in history

    So, if you're being foreclosed on in Toledo, and you have no where to go...bring back the old days, call it " squatters rights "..until the mortgage holder can provide the original note, you may an extended stay. Hey, at the rate we're going , you may soon have the law on your side.
  6. Illum


    Spades I saw an article about a sheriff in FL who gave up. It may not have been FL, it was a few weeks ago, I don't remember the source of the article. He stopped enforcing foreclosures.

    He was especially sick of kicking out renters. Investors had lost out and so the renters were being kicked out. He stopped enforcing it.