Comments on: Don’t Even Bother to Call Me …

By: Toby & Sadie

Toby & Sadie — Fri, 27 Jun 2008 22:36:18 +0000

Chris – It is a major issue for me.

Rocky – I believe that the foreclosure and short-sale “phantom income” is not an issue at least for the rest of this year.

Jason – That is going to be our next batch of problems. What do you do with a renter when the landlord goes into foreclosure?

Chrissy – Amen girl. You guys keep working – and you get to feeling better – and things will get better.

By: Chrissy

Chrissy — Mon, 23 Jun 2008 21:56:16 +0000

This is so frustrating. Especially for those among us who want to buy a house and can’t. Be responsible and think about others people.

By: Jason Sandquist

Jason Sandquist — Fri, 20 Jun 2008 15:09:37 +0000

I heard from a friend that someone I went to high school with decided to go this route. The individual can make the payments just fine and even worse they are renting it out collecting income not making the monthly payments on mortgage.

I think it is dispicable and it takes away from the honest individuals that need help.

By: Rocky

Rocky — Fri, 20 Jun 2008 14:50:18 +0000

Its called Buy & Bail. Being an REO specialist, I have to agree. It is shady…

Of course what people do not realize is they get a 1099 at the end of the year and what ever the value of that loan is becomes “income.”

As well, they banks do keep the right to file for a “deficiency” judgment. This allows banks to garner wages, tap assets, and yes, even put a lein on your new home and foreclose!

My $.02, think about it LOOOOOONNNNNNGGGGGG and Hard!

By: Chris Shouse

Chris Shouse — Fri, 20 Jun 2008 14:38:00 +0000

I had not heard of this trend thank you for bringing it to the forefront. That is just outrageous and you are right GREEDY.