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| Topic: A question of ethics. | |
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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. Heh. After seeing the reactions here, added into my own feelings on it in the first place, I never really thought about NOT trying to get it. I just wanted to pose the question to all of you to see what, if any, other points of view there were about it. About the only things that will actually stop me from getting it will be the inability to get the loan, or it just needs too much work to make it worth the initial investment. Thanks, everyone, for speaking your mind on this one. Cheers 
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Edited by
Zapchaser
on
Mon 09/15/08 08:39 PM
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No issue of ethics is involved here. A property is for sale by a bank that took back a property that belonged to them until their money was paid back and the mortgagee (not yet a "home owner") defaulted. It's a business transaction.
 The bank isn't looking to make a profit from selling it to you- they only want to get back what they have in it.
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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. Man that is cheap! Where im from you need that much to put down as deposit! |
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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. Man that is cheap! Where im from you need that much to put down as deposit! Same here .. the house I lease sells for over 300K |
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Im sorry your friend has put this question in your mind... Its not unethical to buy it..and you said UNDER 20K...Whatcha waiting for hunny!!!!???
It really isnt taking advantage of someone else misfortune..... |
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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. Man that is cheap! Where im from you need that much to put down as deposit! Same here .. the house I lease sells for over 300K Thats not to bad for your area judy... the house I bought in Brighton we paid well over 600K for... Here in Goodland, its nothing to buy a house for 20K...As a matter of fact theres a 6 bedroom for sale now for 11K |
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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. Man that is cheap! Where im from you need that much to put down as deposit! Same here .. the house I lease sells for over 300K Is that the same house i have been to? That would be worth well over a million dollars here! My place is worth similar to yours but its the cheapest there is pretty much in this area, and compared to your place it is a hole! |
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So..I am looking to buy a house because I am tired of living in this tiny little apartment. I found one yesterday that is VERY affordable, meaning I could easily afford it on my current income. The thing is, this house is a foreclosure. I was telling a friend of mine about it, and when I mentioned that fact to her, she told me ( in so many words ) that I am wrong for taking advantage of someone else's misfortune by buying a foreclosed house. Am I wrong to try to get something that I can afford, and that would better my position in life, just because someone else was unfortunate enough to have lost it? Whose ethics are you questioning? your own??? why??? A lot of people regretably will be losing their homes through no fault nor action of your own. Few people were duped into believing/signing contracts that they could not afford (but in the end their choice), few people just cannot continue to pay due to "other" reasons. But whatever the reason, has nothing to do with you. This is just the nature of the beast, survival of the fittest. If you can afford the home go for it, if you cannot dont go for it. If you really have to ask - I'd say you're unsure and to seek legal help, cover all your bases, so you dont become another statistic in the housing market. Good luck. |
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The housing market rocks!!!!!
If you are looking to buy. Stimulate the economy Dude. Help that bank. You'll be making visits to Home Depot all the time now, or a local hardware store. Plus you'll get to deduct the interest on the mortgage off your taxes. You'll be able to vote!! Wait, they changed that didn't they?  Buy it Dude!! |
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All I can say is your crazy if you don't go for it. So ask her would it be better that someone else gets it fixes it up and sales it for a big profit or for someone to buy it to live in it to better themselves?
The house I now live in my kids Grandmother bought it 24 years ago lived in it for 7 bought the house my ex and I sold. Then turned around and sold the house to me for me and the kids to live in for what she had into it. So does that mean I took advantage of her for taking the offer? No it meant my kids and I had a house to live in and could afford it. So jump on it for if you don't someone will and end up making a profit off it when they turn around and sell it. |
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So did you buy it yet ? ?
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