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Re: The Obama Economy

By: killthecat in FFFT | Recommend this post (0)
Fri, 06 May 11 5:49 PM | 35 view(s)
Boardmark this board | Food For Further Thought 		Msg. 28907 of 65535
(This msg. is a reply to 28906 by clo)
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Morning Clo:

I know a number of people who are underwater on their mortgages, but only one who is a deadbeat - My Cousin.
He owns numerous properties in areas that have become depressed due to immigration. He would love to forfeit the properties, but the banks keep offering him sweetheart deals. One morgage holding bank pays him a monthly pittance to help him hang onto and maintain the properties rather than collect it's monthly mortgage payments or accept the properties in foreclosure.

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The above is a reply to the following message:
Re: The Obama Economy
By: clo in FFFT
Fri, 06 May 11 4:55 PM 		Msg. 28906 of 65535

Morning KTC,

There is at least one squatting family I know of one block up. They have milked the system for all its worth & then some!

They refinanced their house to the point where they sucked all of the value out & then got "help", paid one month on the mortgage & nothing since. They figure it will take another year to boot them out.

In essence they have lived there for 3-4 years rent free & that means they have NOT paid their fair share of property taxes & they have 2 daughters attending the schools.

They both work, though the husband has bouts of depression that hamper him at times.
Gotta wonder if the depression is the result of their lifestyle... clo

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