I did a forelcosure tour of houses in Las Vegas and Phoenix recently, and most of them had been built in the late 1990′s or the early 2000′s.
I was shocked by the extremely crappy quality of the construction. Everything from subpar drywall to improper roofing work to flawed alignments in the plumbing systems. It was like these things were slapped together by a group of kids or something. I mean, a lot of the work and materials were truly shoddy.
Why did Americans tolerate this? Why did people take out 0K mortgages on structures that were so crappy to begin with? Why didn’t they take a look at the property, notice the flaws, and then simply reject it and walk away?
Where is people’s sense of pride and craftsmanship?
What does Haiti have to do with the US?
By first-world standards, houses in the US seem to be built very crappily. That’s just the truth.
I went to a "free" seminar in Phoenix tonight hosted by Real Talk Network about paying off debt. The two hour seminar was basically a bunch of teasers on how you can pay off your consumer debt and mortgages on a hyper accelerated schedule and be debt free in months or years. At the very end they ask for 97.00 to get started. This would include lifetime coaching and all their secrets to eliminate debt. I declined to enroll because I wasn’t willing to pay that amount of money without looking into them. After I got home, I looked at their schedule online and saw they had no more sessions scheduled in the area in the near future. Is this a scam or is it legit?
For the people who push for immigration laws, How could more and more vacant apartments, and more foreclosed homes in America be a good thing? The rent and mortgages were being paid. And I seriously doubt CHAD will move into the neighborhoods the Hispanics live in.
Illegal immigrants fleeing apartments in Arizona
Arizona’s employer-sanctions law is driving illegal immigrants to leave the state, as intended.
The departures were first felt at stores and businesses that cater to such immigrants. Sales suddenly dropped.
Now, apartment complexes, especially those with affordable rents in neighborhoods with large immigrant populations, are feeling the effects. Individuals and entire families are moving, leaving behind empty apartments that can’t be filled.
Some renters are handing over their keys and breaking leases because they’ve lost their jobs due to the sanctions law and can’t pay the rent. Others are simply skipping out in the middle of the night.
"Most folks aren’t even telling us; they are just leaving," said Estela Bojorquez, manager of the Villa de Sonora apartments in west Phoenix, which is trying to fill 59 vacant apartments out of a total of 156. Bojorquez attributes half of the vacancies to illegal immigrants moving out of the state because of the sanctions law. Job losses because of a slowdown in the economy – especially in housing construction, which employs many immigrants – also are contributing to the departures.
PHOENIX – President Barack Obama’s plan to tackle the foreclosure crisis will spend billion in an effort to prevent up to 9 million Americans from losing their homes.
The plan, which Obama is releasing later Wednesday, is more ambitious than initially expected — and more expensive. It aims to aid borrowers who owe more on their mortgages than their homes are currently worth, and borrowers who are on the verge of foreclosure.
The initiative is designed to help up to 5 million borrowers refinance, and provides incentive payments to mortgage lenders in an effort to help up to 4 million borrowers on the verge of foreclosure.
One of my properties appraised at 0,000 last year. A comp home sold for 5,000 due to foreclosure. My loan is greater than 5,000 and less than 0,000. Do I now qualify for mortgage assistance? If I do, should I take it?
I just want the program to be fair. If I can get a new mortgage from 6% to 4% or less, I will do it in a heart beat.
we have 20% of the house price in the bank but we dont really want to use it, as it would be all we have. would rather invest it and get 10% back a year in mutual funds or something. but i dont know if this is a good idea or not.
is getting a second mortgage to cover down payment (in order to avoid PMI) a good idea? what are the dangers of a second mortgage? how does paying it off work? are you able to refinance both mortgages eventually into one mortgage? would be save more money (in fees and such) by just putting down the 20%? or is it better being invested?
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