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  1. #1
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    This really erked me this weekend...



    My wife and I traveled over to the Eastern Shore to visit my Mom for Easter and while over there I noticed that the guy who used to live across the street was no longer there and his house was in foreclosure. I asked my Mom what was going on there, because he has a landscaping company and mowed her yard, etc. She told me that this dude just got tired of having a mortgage. He wasn't upside down or anything. He just didn't want to pay his mortgage anymore, so he moved out, stripped the house of the nice crown molding trim, copper, appliances, etc.

    Last week he came over to do some work for my Mom and he was driving a brand new $60,000 full size truck and was gloating about the fact that because he didn't have to pay his mortgage anymore he could get a new truck.

    He's a typical "local" in some of those towns on the Eastern Shore that are big fish in little ponds. Grew up there, never left, knows everyone, etc.

    I think that's absolutely disgusting. Makes me sick that there are honest and hardworking folks who can't get a mortgage to buy a house and there are shit heads like this guy.
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


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  2. #2
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    Quote Originally Posted by wickedsolo View Post
    My wife and I traveled over to the Eastern Shore to visit my Mom for Easter and while over there I noticed that the guy who used to live across the street was no longer there and his house was in foreclosure. I asked my Mom what was going on there, because he has a landscaping company and mowed her yard, etc. She told me that this dude just got tired of having a mortgage. He wasn't upside down or anything. He just didn't want to pay his mortgage anymore, so he moved out, stripped the house of the nice crown molding trim, copper, appliances, etc.

    Last week he came over to do some work for my Mom and he was driving a brand new $60,000 full size truck and was gloating about the fact that because he didn't have to pay his mortgage anymore he could get a new truck.

    He's a typical "local" in some of those towns on the Eastern Shore that are big fish in little ponds. Grew up there, never left, knows everyone, etc.

    I think that's absolutely disgusting. Makes me sick that there are honest and hardworking folks who can't get a mortgage to buy a house and there are shit heads like this guy.
    He is the perfect example why the government needs to be involved in individual activities that affect other people. Now your mom's property will lose value at least temporarily while everyone living nearby this freeloader absorbs his irresponsibility. We had a guy buy in our neighborhood right across the street from us who could afford his mortgage for about 6 months and then he rented the house for several years. Finally someone bought his house and has brought it back to community standards. Fortunately, we weren't looking to sell during those years so it didn't impact us.

    There are areas that need strict regulation so the repsonsible folks aren't absorbing the irresponsible folks risk. Health care via mandate is a perfect example as well as how one qualifies to mortgage a home.

    Sent from my DROIDX using Tapatalk








  3. #3
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    Re: This really erked me this weekend...

    I always figured that if you were foreclosing on a house, you had to prove you couldn't afford it anymore and essentially declare bankruptcy or close to it.

    Seems to me that considering a mortgage is a contract between a lender and yourself, if you DONT pay it because you don't feel like it the lender should be able to file a lawsuit against you for breach of contract.
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


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  4. #4
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    Re: This really erked me this weekend...

    I hear copper is a big thing. Thieves are ripping them off of houses
    and breaking inside to get them. Junkyards are paying a lot for them.

    New truck? I'd hate to see his credit report.
    Pic of a natural act: UBER RAVENS FAN AND HISTORIAN GURU. THE PAST IS NOT DEAD, IN FACT, IT IS NOT EVEN PAST.' WILLIAM FAULKNER.




  5. #5
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    Re: This really erked me this weekend...

    Quote Originally Posted by AirFlacco View Post
    I hear copper is a big thing. Thieves are ripping them off of houses
    and breaking inside to get them. Junkyards are paying a lot for them.

    New truck? I'd hate to see his credit report.
    When I was at my remote duty station a few years ago there were a group of guys who'd drive around the area and dig up the copper electrical wire, cut sections out of it out (cutting off electricity to our base and other areas) and then sell it.

    Regarding his new truck, his credit report isn't the point...how is it that someone can afford to continue their mortgage...choose to NOT pay it because he just didn't "feel" like it...and then go out a few weeks later and finance a brand new truck?

    How the hell does that work?
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


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  6. #6
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    Re: This really erked me this weekend...

    Quote Originally Posted by Galen Sevinne View Post
    He is the perfect example why the government needs to be involved in individual activities that affect other people.
    Yes the Government needs to make laws and get involved in each individuals life because the actions of a select few idiots.




  7. #7
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    Re: This really erked me this weekend...

    Quote Originally Posted by wickedsolo View Post
    I always figured that if you were foreclosing on a house, you had to prove you couldn't afford it anymore and essentially declare bankruptcy or close to it.

    Seems to me that considering a mortgage is a contract between a lender and yourself, if you DONT pay it because you don't feel like it the lender should be able to file a lawsuit against you for breach of contract.
    I believe the contract is relatively simple in that as far as if you don't pay the bank owns it. I am almost certain if the bank takes the house back, sells and it and doesn't pay off the loan they come after you for the rest or at least it's listed as a collection.




  8. #8
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    Re: This really erked me this weekend...

    Quote Originally Posted by NCRAVEN View Post
    I believe the contract is relatively simple in that as far as if you don't pay the bank owns it. I am almost certain if the bank takes the house back, sells and it and doesn't pay off the loan they come after you for the rest or at least it's listed as a collection.
    Maybe, but it still seems pretty crappy that this guy has no financial hardships at all and just decides to split because he doesn't want the house anymore. After stripping the house of the trim work, some hardwood from the flooring, copper, appliances, fixtures, etc, the house isn't anywhere near the value that it should or could be.

    I don't necessarily feel that the government should have a hand in this, but I do think that if there are guys like this (because I can't honestly think that he is the ONLY one to have done this during the housing crisis) then the banks should go after them because they're fucking the system purposely.

    I mean, I've JUST been able to get a new car because of my student loans have weighed me down for so many years.

    It's just incredible to me that there are guys like this who are more than willing to add to an already jacked up system and continue to add to the mess for everyone else to clean up.

    No offense to a lot of the good people on the Eastern Shore, but there is a significant amount of this kind of mentality over there and I can't stand it. Couldn't wait to leave there and am glad I don't ever have to go back.
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


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  9. #9
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    Re: This really erked me this weekend...

    I don't disagree it's crappy. The guy is a jackass, no doubt.

    I think the banks should modify their contracts if they are unhappy with the current outcomes. THat would seem to be the most logical and easiest fix.

    Question what part of the Eastern Shore are you from?




  10. #10
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    Re: This really erked me this weekend...

    Quote Originally Posted by NCRAVEN View Post
    I don't disagree it's crappy. The guy is a jackass, no doubt.

    I think the banks should modify their contracts if they are unhappy with the current outcomes. THat would seem to be the most logical and easiest fix.

    Question what part of the Eastern Shore are you from?
    I'm from Baltimore, but my folks moved down to Ocean City when I was in middle school, so I went to middle school and high school down there, but I still spent most summers up in Baltimore at my grandparents house. I didn't really enjoy summers down in OC until I was old enough to drive. After I left for college my mom moved to Easton and now she's finally had enough of the Eastern Shore and is moving over towards the Baltimore area.
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


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  11. #11
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    Oct 2011
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    Re: This really erked me this weekend...

    Quote Originally Posted by wickedsolo View Post
    When I was at my remote duty station a few years ago there were a group of guys who'd drive around the area and dig up the copper electrical wire, cut sections out of it out (cutting off electricity to our base and other areas) and then sell it.

    Regarding his new truck, his credit report isn't the point...how is it that someone can afford to continue their mortgage...choose to NOT pay it because he just didn't "feel" like it...and then go out a few weeks later and finance a brand new truck?

    How the hell does that work?
    Maybe he got the truck before the bad credit started to kick in. If there's any justice, once it does kick in, it will prevent him from gaining loans for personal use and for his business.




  12. #12
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    Re: This really erked me this weekend...

    Quote Originally Posted by JStruds View Post
    Maybe he got the truck before the bad credit started to kick in. If there's any justice, once it does kick in, it will prevent him from gaining loans for personal use and for his business.
    His brother or something works in the finance department of the dealership over there I believe, so that's how he was able to get the truck.

    Still, you're probably right. It's unlikely that the foreclosure would show up on his credit report for at least another quarter.
    Milk is for babies. When you grow up, you have to drink beer.

    -Arnold Schwarzenegger


    My RSR Blog:
    http://russellstreetreport.com/author/paullukoskie/

    Check out Fatherhood Rules - a blog site dedicated to sports, food, music, movies, and politics.
    http://fatherhoodrules.com




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