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| Topic: A question of ethics. | |
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YOUR sympathy for the owners situation will not save them from foreclosure unfortunately. You are not taking anything from them, but if it makes you feel any better, the cheaper you get the house, the less the mortgage company that foreclosed on them gets out of it.
 If foreclosure was a result of sub prime mortgaging...it's as much the homeowners fault as the mean old bank really. Sorry, but that's the cold hard truth as I see it. 
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As cheap as that house is priced....they were either very close to having it paid for....or the bank won't be making SH*T from selling it..lol
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OMG No. Buy it. Buy it. Buy it. Many people let forclosure happen as a preference. Actually sometimes (often) If a person is in foreclosure part of the agony is that until the house is sold often their expenses keep wracking up. The more expenses the worse their plight. Sometimes even selling the house at a loss can keep the previous owner out of bankruptcy. Just because a house is bought in foreclosure you do not have to evict the tenants if you do not want to if they haven't already left. If you buy the home and better yourself it is much preverable to a specualtor who will pay little or nothing for it. Because banks and speculators often leave the home empty which only tortures the people who have sometimes been forced out. Sometimes they actually endure the rath of previous neighbors/friends because the bank does not maintain the yard and devalues the adjoining homes. For people who are forced out because of medical crisis or the death of their parents and can't carry two morgages it often means the flowers and trees die which is much more heart breaking than seeing someone "love" the home. Go for it without a second thought to the snide remarks. Sounds like sour grapes to me.
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The house is already foreclosed. Not buying it won't change that.
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OMG No. Buy it. Buy it. Buy it. Many people let forclosure happen as a preference. Actually sometimes (often) If a person is in foreclosure part of the agony is that until the house is sold often their expenses keep wracking up. The more expenses the worse their plight. Sometimes even selling the house at a loss can keep the previous owner out of bankruptcy. Just because a house is bought in foreclosure you do not have to evict the tenants if you do not want to if they haven't already left. If you buy the home and better yourself it is much preverable to a specualtor who will pay little or nothing for it. Because banks and speculators often leave the home empty which only tortures the people who have sometimes been forced out. Sometimes they actually endure the rath of previous neighbors/friends because the bank does not maintain the yard and devalues the adjoining homes. For people who are forced out because of medical crisis or the death of their parents and can't carry two morgages it often means the flowers and trees die which is much more heart breaking than seeing someone "love" the home. Go for it without a second thought to the snide remarks. Sounds like sour grapes to me. Well..whoever owned it previously is already gone. So that's not an issue. One thing I am looking at is the fact that, after a period of time doing some fixing and getting things in order, I could always use it as a rental property and buy something else. I am 39 and I am starting to take a serious look at my future. I should have a long time ago, but things weren't falling in my favor for a long time. Now I may be in position to do something about it. |
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Speaking as someone who was recently forclosed on - go for it!
My ex didn't understand the concept of paying bills is more important than going to the bars. We were already behind a little bit, but once I moved out he didn't make a single payment. I lost my job so I couldn't do anything. Honestly, the forclosure was a relief, it was one less thing for me to worry about, and hopefully whoever owns it now was able to finish some of the projects that we started. |
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I too say go for It better than being stuck in an apartment.Sounds like this is a huge step for you.Good luck and don't wait to long or you will be kicking your butt.cheers!
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Business is business, dont be a fool and let a good bargain like that slip past you. Though if you do, send me the details!!
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A house is a house is a house.........
Ive lived in some beautiful houses and had great memories in them......Ive also lived in crappy houses and had great memories there too......as well as bad as all houses hold...... A home is wherever you hang your hat and call it home......... Wood, cement, plaster, whatever does not make the home. Sure the person had to foreclose.....and will have to live somewhere else. Misfortune yes but a house doesnt make it home.
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Buy it.
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i think its a good deal and you should buy it. just be careful not to fall victum to a trick. sometimes low costs, have high interest and hidden words.
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Might as well take advantage of the situation.
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Well everyone else here is correct in telling you to go get it! Besides you MAY even be helping the unfortunate person that lost the house. You never know as to what circumstances still revolve around the property for the former owner. In some cases even after the bank has taken back the property the former owner is still help responsible to pay for the money the owe the bank! so if you buy the property then the former owner will owe that much less for the balance of the loan. So you may actually helping them by reducing the amount they still owe. Go get it, love it and be thankful you are able to own a home.
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wow...you can afford to buy a house..? In the US??....
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wow...you can afford to buy a house..? In the US??.... In this area of the U.S.....yeah...lol The housing market is terrible right now, especially where I live. There are LOTS of houses going for between 35 and 60K. |
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If you dont....someone else will. Only the strong survive. That's kinda the way I look at it too....if I don't...then someone else will..and I will kick myself for not at least trying. I think the biggest reason my friend thinks I am wrong is because she used to work for one of the mortgage companies that were writing the loans that got people into these predicaments. |
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Buy it !!!!!
I do loans for clients and recently alot have been foreclosures |
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Just buy it already!!!!!!!!!!!!!!!!!!!!!!
 
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If you dont....someone else will. Only the strong survive. That's kinda the way I look at it too....if I don't...then someone else will..and I will kick myself for not at least trying. I think the biggest reason my friend thinks I am wrong is because she used to work for one of the mortgage companies that were writing the loans that got people into these predicaments. She was just a grunt worker. Not one of the ones in charge of making the loans. She also told me that she tried to tell people that it was gonna bite them in the ass, but no one would listen. Go figure. |
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Think about this...even in foreclosure they still have that debt hanging over them. If you buy it...even if it's a 'short sale' and their bank calls it good for them, you COULD be doing them a favor. Just another view...
regardless if you believe this or not, buy the house. |
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