Foreclosures Hard On Pets

[Ron61]

This is sad that people would just do these things. If many would have just lived within their means instead of having to have what the neighbor had, much of this could have been avoided. Makes me happy that I paid cash for everything.

Foreclosures lead to abandoned animals - Yahoo! News

Ron

[trularin]

There was something like 75% increase from 2006 to 2007.

I blame banks for this more than anything else.

[CobraEd]

I don't blame the banks at all. I blame the $hit-for-brains people. Would you go out and get all the credit cards you can and max them all out JUST BECAUSE YOU CAN? I don't think so. Buying a house is a very serious thing, and people should treat it as such, not like going out and buying a loaf of bread.

And then to add insult to injury, once they have the house, they keep pulling all the cash out of it, treating their HOME like a giant ATM machine.

There are people in life who contribute as much to society as they get. Then there are people who only focus on taking and getting. Don't believe me??? Read the article above, . . . . these same people who screwed up their mortgage due to bad personal values then trashed the house before leaving and just left their pets to starve. The facts speak for themselves.

Too bad for them!!!



.

[smeredith]

I'm actually in the divorce process and looking for new homes, and have looked at some forclosures. Haven't run across any pets yet, but the conditions of the homes are just sad. The way people have lived in these homes and then just moved out is enough to make me sick. You would have to repaint ceiling to floor for the entire house, and all new flooring just to get started. The yards are a whole other problem. I blame the lenders/apraissers for thier part, but people have lived outside what they can afford for a long time and it finally caught up with them. I don't feel sorry for someone who has lost all thier toys when the bills came due. I always wondered how someone that makes 40K can have a $400,000 house, a new F350, a new boat, new jet skis, a camper, a 60" flat screen and still pay the bills. All my questions are answered.

[Cobrabill]

I put the blame squarely on the lenders.You can't blame the people for "asking".They did and the lenders lent.Interest only loans.Absurd ARMs.Money was lent to people it never should have.And they NEVER should have bailed them out.F 'em.

[CobraEd]

So Bill, . . . Would you have gotten one of these absurd loans. You don't sound like the kind of person who would. The problem lies with the people. They should have thought thru what they were doing.

SMERIDETH, ... How much can a few gallons of paint and a lawnmower cost? It is not a dollar problem, it is a mindset problem.

.

[imagine2frolic]

I paid cash for my home in 2005, but took an equity loan to start the business 18 months later. The manager at the bank was sweet talking the interst only loans. How I could ride the wave of value increases. Then sell, and still walk away with money. I took the fixed. Obviously she couldn't read the future could she!

If I had taken the interest only whose fault would that be? I think it is buyer beware once again.

[Ron61]

I think the blame can be spread to both the lenders and borrowers. First off, the people buying those overpriced houses don't ever bother to read anything that sign. They just listen to the agent for the lender who is certainly not going to bring up the point that somewhere down the line they will have high interest rates kink in plus a big balloon payment. But to treat pets like that and to trash the houses is just to much. They are taking out their own stupidity on other things.

Ron

[terry251]

"The house was ravaged — its floors ripped, walls busted and lights smashed by owners who trashed their home before a bank foreclosed on it. Hidden in the wreckage was an abandoned member of the family: a starving pit bull." (From the Yahoo News link)

There is more than enough blame to go around; all of it greed based. However, consider the character of the people that would trash the house before they moved out, let alone leave the animals. In my experience, good people do not do that type of thing; even if they are losing their homes.

Terry

[smeredith]

CobraEd,
We're not talking a couple of cans of paint and good mow job. I'm saying paint on every square inch of the walls, all new carpet, rip up all excisting floors due to water damage ect. The yards would have to be totally relandscaped after taking everything out. I'm not lazy, I just want to drive the Cobra this summer, not deal with a remodel. The banks are also holding pretty firm on prices due to what the old lenders owed so there aren't the deals you would think out there.

[Excaliber]

As the foreclosures rise some say so do the reports of arson...

[BigGuy]

I’m not sure this is true, but I heard the that many of the problems with the foreclosure rate was caused by the Government. They thought that more people should be able to get loans, making regulations that required the banks offer more loans to less qualified individuals. When they loosen the requirements to people who would not normally be "credit worthy", you would expect more defaults on loans.
I'm not talking about reverse or predatory lending which is rampant in our area.

Just thought this was interesting. Just what you would expect when the Government gets involved with anything! Then the politicians can bail them out with taxpayers money.

.

[Ron61]

Jon,

Things are bad enough. They don't need the Govt. taking over to help out. The politicians already have the country bankrupt. The house across the street and on the corner from me is now up for rent. The people that were renting it just vanished one night about two weeks ago and they had to go in and spend two weeks painting, replacing carpet, and repairing broken walls and fixtures. And this is just a rental. They have more money in the house repairing it to rent than it is worth.

Ron

[427 S/O]

Hey!, people lied like he$$ when they applied for those low interest loans, to get in to those 'big ol' houses. Both are to blame..........

[imagine2frolic]

smeredith,

When I bought my home it was exactly as you describe. For under $5k I farmed out all the work except the yard. There I took high spots, and tranfered them to low spots. Trimmed all bushes, and trees WAY BACK. Nurtured the weeds over the summer to become a lawn.

Every inch of painted surface was repainted inside, and out. New carpet throughout the house, except for the dining room, and living room. Those are laminated floors. I bought a pressure washer, and cleaned all cement including the garage. It took me 2 days to clean the stove, and reassemble it. Before I moved in the neighborhood called it the crack house.

The day I signed on the house I made $70k with a lot of elbow grease, and the $5k farmed out. Even with the prices falling I am still up yet another $30k+. All for month's worth of work.

It was the first house I looked at. After 10 days of searching I went back to it, and shrugged my shoulders, and got to work. I didn't want another project. I was constantly working on Imagine, my boat. How much do you earn a month figured in against what you can gain. It might be worth running the numbers again? Good luck in your search.