Comments for Stop Foreclosure

Comment on If foreclosure becomes banned should I stop paying my Mortgage? by Mr.

Mr. — Tue, 09 Mar 2010 05:32:59 +0000

A "temporary" ban on forclosure, would not be a good reason to stop paying your mortgage. Eventually the moratorium would be lifted and you would still owe thousands of dollars.
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Comment on I signed a lease put down a deposit now I’m finding out the property is facing foreclosure I’m in New Jersey? by Jaylin P

Jaylin P — Mon, 01 Mar 2010 01:55:59 +0000

Here’s a list of banks in New Jersey that can help. http://www.banksintheusa.com/New-Jersey-Banks.html
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Comment on I signed a lease put down a deposit now I’m finding out the property is facing foreclosure I’m in New Jersey? by Roxi

Roxi — Mon, 01 Mar 2010 01:24:59 +0000

There’s really not much you can do. I don’t know the laws in New Jersey, but your landlord is supposed to give a tenant sufficient notice before the property is seized. Most certainly, he or she should not have taken on a new tenant without first taking care of the lien on the property. I’m not sure but I don’t think the bank or any new owner can evict you right away. I think they have to give you a 3-4 month notice.

Ask an attorney, but there is nothing you can do to your landlord. He is one of the hundreds of thousands of real estate owners that have defaulted on loans they hope to refinance. Good luck with that!
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Comment on I signed a lease put down a deposit now I’m finding out the property is facing foreclosure I’m in New Jersey? by Steve B

Steve B — Mon, 01 Mar 2010 01:19:59 +0000

Check with Sheriffs Dept., attend court as an interested party .. get an attorney ..
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Comment on I signed a lease put down a deposit now I’m finding out the property is facing foreclosure I’m in New Jersey? by estielmo

estielmo — Mon, 01 Mar 2010 01:09:59 +0000

I’d pass on this apartment. And I’d google BEFORE I gave any money in the future.
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Comment on Hope for Homeowners and How to Stop Foreclosure by DEMO W/GUN

DEMO W/GUN — Sun, 28 Feb 2010 18:52:59 +0000

I can’t believe none of this was regulated. I was convinced, by Wall Street, that my 401k was the only way that I could ever afford to retire. I was assured that everything would always be on the up-and-up. Now, rich tycoons have squandered it, by making criminal investments and unsafe economic decisions, and now want ME to save their hides.
I lost money too. No one is bailing me out of that.
One good thing is that Oil is dropping rapidly. It’s predicted to tank if the bailout never happens. Seems like a few weeks ago, before this mess, that’s all the everyone was worried about. Well, we got our wish, oil is coming down.
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Comment on Hope for Homeowners and How to Stop Foreclosure by Sambo

Sambo — Sun, 28 Feb 2010 18:50:59 +0000

Well for one thing, this bill would give dictatorial like powers to Paulson, Bernanke and a few others, who are not elected and therefore not beholding to the people. Do we really want that? Secondly, it contained a lot of unwanted and irrelevant pork barrel spending? Why?

In the business world, bad debts when sold are never sold for face value, but for a discounted value. Why would the taxpayers buy bad debt for anything more? Also, why are some banks too big to fail and others are not? Legally and ethically, shouldn’t we either bail out all or none? BTW, where did $750 billion come from? Are we sure that is enough to cover or will we be needing more later?

This bill, despite what the spin doctors say, did not have bipartisan support. I’m glad that 95 democrats joined with the republicans and voted no. Even 17 of Sen. Franks own committee voted no, so what does that tell you?

Lastly, if we do this, how do we the people know that a year from now that we’re not facing the same problem or worse all over again? Currently Federal Revenue is $2.5 - $3 trillion. We run a deficit now and have a debt of $9 trillion. So we’re going to add more? Then have to raise taxes, taking money out of the economy to pay for it? The dollar has fallen in value and nobody is factoring in that was a cause as well. We do this bailout and next year when the dollar is worthless like the Argentine Peso, what then?

I’m glad for once that Congress listened to the people!
Don’t get me wrong, I agree something needs done, but what was drafted wasn’t the answer.
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Comment on Hope for Homeowners and How to Stop Foreclosure by Irv S

Irv S — Sun, 28 Feb 2010 18:48:59 +0000

Because the Banks created the problem in the first place.
They knew those mortgages were risky, yet in search of
profit, they violated their fiduciary duty to their depositors
by making those loans.
There is no way that they should be bailed out without penalty
from the mess that they created.
Those same banks have been permitted to basically install
toll booths on the entire economy.
They get a cut of every credit card transaction.
The laws grant them special privilege.
They should be held to a higher standard.
The same goes for investors in those Mortgage backed notes.
They were warned that the notes were risky, but
attractive because of their high return.
I know, because I was offered some of those notes,
and I was warned by the vendor as a matter of law.
(Disclosure statement).
I passed on the offer because of the risk.
Why should someone foolish enough to take it be bailed out?
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Comment on Hope for Homeowners and How to Stop Foreclosure by kmacf

kmacf — Sun, 28 Feb 2010 18:46:59 +0000

There are two reasons not to support the bailout bill.

First, where is the money going to come from. We are running a deficit in this country so that means the government will have to take out foreign loans to pay fo this bailout. It’s a lot like using your credit card to pay for your car loan. You’re just moving the debt around.

Secondly, there needs to be some changes in the system. This bill called for a cash bailout but not for a change in the way loans are doled out. Keeping things like this would mean having to do another bailout in a few years.

If we are going to add an additional 2.5k tax burden on to every man, woman and child in America it had better be done right. This bill was rushed through and shoved down out throats. I am happy it was defeated. Now there might be some intelligent discussion about some real solutions and not just a patch job.
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Comment on What is Involved in a Foreclosure? by JoannaB3

JoannaB3 — Sun, 28 Feb 2010 18:44:59 +0000

Ronnie is right….you definitely need to notify the authorities…..fraud like this is now very common. they prey on people in desparate situations like forclosures. I am very sorry this has happened to you.
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