October 16, 2007

Thousands are just walking away from their homes in Sacramento and turning in the keys

At what point does the government of Sacramento send lawn-mowing crews out to these neighborhoods of foreclosures?

Loved the story of the house that wouldn't even sell at half-off. Yes, you heard that right HP'ers - even 50% off won't move homes now.

Suzannnnneeeee!!!!!


13 comments:

Anonymous said...

.
.
.
I hope homegirl quit making her lease to own payments and at least got some of her money back in free rent for a couple of months. Hell, with so many abandoned homes in that neighborhood, they can just move in next door when they get kicked out. Just keep a low profile and squat in a new empty house each month.

Anonymous said...

The rights home-girl is fighting for are limited to whatever rights the LL/Seller has. Therefore if the LL/Seller has lost all their rights in the property then Home-girl has no rights. She is fighting the bank over a nullity. She does have rights against the LL/Seller for the 10k, but thats it & that is not the bank's problem/concern.

Anonymous said...

More banks are doing the "cash for keys" now from renters.

If you live with few possessions and can move quickly you could easily have a good portion of your rent paid for by the banks.

It could be like a game for bubbleheads!

Anonymous said...

Contact Lawrence Yun, or Kendra.

panicearly said...

this investor probably knew, he was going to default on the loan, so he stuck it to someone on his way down for a few dollars..10k wont get him far..

zoiks said...

Wow. 95832 is starting to look like Costa Mesa. Foreclosures everywhere!

brokersleaveyoubroke said...

%50 off and no takers? That's staggering. It means that most residents in the developement have half million dollar mortgages on homes that are worth something less then 250K if they could find a buyer. I don't understand why there is anybody still making payments unless they are paying a low teaser rate. I can't see that neighborhood being anything but a slum in a year or two. I would love to see some national newsperson stand in front of one of those abandoned houses and ask Lawrence Yun why he is telling people that now is a good time to buy.

Anonymous said...

in my neighborhood they are bulldozing houses on city ? land that have agricultural permits.........?

Anonymous said...

95832 = F $ # K E D

Funny and great to see dumb people get what they deserve.

Anonymous said...

From the way some of the residents speak, that place already seems like a Section 8 slum.

whitetower said...

Well, homegirl just about sums up the home-debtor mentality: a person has a "right" to a home, even if he cannot make the payments.

Anonymous said...

50% off may not move these houses but how much you wanna bet 80-90% off WILL move them?

Seriously, houses all along the West Coast from the Canadian to the Mexican border spun off to LUDICROUS price levels. Once they come back to reality, they'll sell.

Anonymous said...

Yeah, but who wants to live in a community chalk-full of foreclosures? No thanks. Renters move in, and then it's all downhill from there, usually.