Frugal Village Forums banner

1 - 10 of 10 Posts

·
Registered
Joined
·
28 Posts
Discussion Starter #1
I just have to tell you all this story. My husband is working for a company that rents properties, but also sells them. There is a couple that is a year and half behind on paying their mortgage to a private lender, the person who owns the house. They want to "buy" a new house. They want the private lender that they owe 1.5 years back mortgage payments to, to finance the new house.

The wife told my husband she "NEEDED" the new house. When he told her they would have to come up with the money she said "where is that money coming from"? and he said "You, a bank, or a private lender... NOT ME!"

Can you believe that? That she has NO CLUE that they actually HAVE TO PAY for the house? "where is the money coming from"? LOL I just could not believe it when he told me that.
 

·
Registered
Joined
·
138 Posts
YOU JUST CAN'T FIX STUPID! :loser:

I should be shocked, but I'm not...unfortunately!
 

·
Registered
Joined
·
28 Posts
Discussion Starter #4
And can't seem to understand why the person they have not been paying the mortgage to won't lend them MORE money to "buy" another house! He told them they have to sell the one they are in now first and pay him off. If I was him I would NEVER loan them any more money! Yes, they seem to think that you "buy" a house but you don't actually have to make any payments on it! And the audacity to go back to the person they have not been paying for 1.5 years and ask them to finance another house! I don't why he hasn't foreclosed on them in the first place.
 

·
Registered
Joined
·
663 Posts
I'm confused how they can be in a property for one and a half years and not paying rent / mortgage? Have they not been evicted?
 

·
Registered
Joined
·
4,717 Posts
Unfortunately - that is how long it is taking some of the banks to get thru the foreclosure process now.

We have just dealt with a deal (Chase Mortgage), where the homeowner has not paid a mortgage payment in 18 months. The home was sold on a short sale last month. Chase then paid the seller (after all the NON mortgage payments) - $1000 at the closing on the condition that he would not trash the place when he left.

Apparently that is the new 'norm' - paying the people not to trash the houses when they go. Our agent told us that Chase is being a bit 'cheap' too - as some of the banks are paying up to $3000.

How's that for a screwed up scenario.....
 

·
Registered
Joined
·
469 Posts
I have a friend that didn't pay his mortgage or taxes (the mortgage holder did pay taxes, though) for THREE YEARS before they finally foreclosed and evicted him. Now, he's suing them to get the house back for "wrongful foreclosure." It's looking good he'll get his house back, with damages because of some notification protocol they skipped. While I'm happy he's likely going to get his house back, it was really difficult to listen to when I was living without Starbucks and fancy dinners out so I could pay off my house and other debt. It's a crazy world out there, huh?
 
  • Like
Reactions: NikoSan999

·
Registered
Joined
·
2,280 Posts
This is just CRAZY!!! It just blows me away that people are living in ahouse and not paying a mortgage for YEARS!!! Just toooo CRAZY!!! But I believe it happens, as my aunt rented out her house. The renters stopped paying the rent and when she took them to court to get them evicted. The renters composed of a husband and pregnant wife, asked the judge if they could stay in the house without paying rent till the baby was born. The wife was 4 months along. The judge said no.
 

·
Super Moderator
Joined
·
19,540 Posts
We lived in our house in town for a year and a half and didn't pay rent or mortgage payments. But we didn't owe them, either. It was the best thing ever! :D

In short, the bank owned the house which had been empty for years. We signed a purchase agreement, which stipulated the bank had to provide us with clear title. In order to do that, they had to settle with all the very numerous lien holders and it took them quite some time while the whole mess dragged through the courts. In the meantime, they no longer had to worry about an empty house being vandalized, didn't have to pay for lawn care and snow removal, and they knew we were fixing things that needed fixing, like the furnace. They were also worried that if they started charging us rent, we'd buy a different house. The house had been on the market for so many years and they really, really wanted us to buy it, so it served their purposes to keep us in it for free. It was a sweet deal that happened at a time in our lives when we needed a free house desperately. We did not ask for the deal, but we sure weren't sorry we found ourselves in that situation.

But I agree, I don't understand under NORMAL circumstance how people can stay in a house they're not paying for, or why they should expect other people to pay their way.
 
1 - 10 of 10 Posts
Top