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Foreclosure reform? - 5/5/2007 5:00:54 AM

pahunkboy

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From: Central Pennsylvania
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there is talk of foreclosure reform- at least on the state level in PA. a house will sit vacant for years. im not sure how they want to reform it. but empty houses invite broken windows and worse. also it is a shame that a ouse sits empty when someone with inadaquate or no housing is needing.

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RE: Foreclosure reform? - 5/5/2007 5:27:56 AM

Termyn8or

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This is where they got us by the balls. I am a stern supporter of individual and property rights, and as such must support that those who PAY for the property have it.

In 88 we had a combined income of about 65K, which isn't shit now, but it was then. We qualified for like a $100,000 loan, but spent 20K. Glad we did.

You see the problem is everybody has to push the envelope, and that is psychologically trying to be better than someone else, even if that someone else does not exist. And the biggest problem is that they see a bigger house, a fancier car, a better TV, as being a symbol of that betterness.

Then if banks would decline loans to people who really can't afford them, you would see some drop in real estate values. Bad ? economsts say yes, but economists have alot more money then the average Joe, it is bad for them.

I'd like to see the end of no payments for ten years on a new car, a 150K loan for $450 a month. These things DO NOT WORK. There are literally going to be people making payiments on cars that are in the scrapyard. Think not ? Keep your eyes open.

You can't just give people houses, for two very major reasons. One is property rights, if we have any property rights at all they need to be enforced. Squatters put off legally and such.

The second, and bigger reason is that just giving houses out to people will result in the people getting lazier. And it is bad enough now.

Oh yeah, I said I try to see both sides of an issue, here's some quick devil's advocate.

Industry is moving outof the US, CRY CRY CRY. WHY ? See our dropout rate lately ? Have you seen our test scores lately ? We are seriously behind. The workforce in other countries are more motivated and better educated.

Companies have shareholders to whom they must answer. Of course that is the folly of having a stock market in the first place. Their loyalty is actually no longer with the customer, nor the community, nor the environment. Once a company is publicly traded it has no choice but to extract the most dollars from the market as possible at all times. And must do it now, sacrificing long term gain for short term profits.

OK, this is not true some of the time, but it is true most of the time. And that is the way it is. When I said you need to see both sides of an issue, I was not kidding.

T

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RE: Foreclosure reform? - 5/5/2007 5:39:15 AM

pahunkboy

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From: Central Pennsylvania
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well- rationally i knew i could not afford a metro area- so i stuck to areas i knew were doable.

a PA real estate contract is 10 pages long. therefor many brokers dont want to sppend the time. car loans are already doing the negative thing. i never ever ever bought a bew car.

i am VERy concerned about gangs taking a grip on my town. vacnat houses are not good.

as for jobs- we have no job base here. one by one the good jobs went overseas over the past 30 years.

many people live off of their credeit cards in 2007. locally most people have their home paid off. it is a retired area by and large.

yesderdaaays paper- electric, gas, water AND property taxes all slated to go up. ouch.

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RE: Foreclosure reform? - 5/5/2007 7:26:46 AM

sub4hire

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No idea on the reform other than first hand experience. We have been in escrow for 3 month's now on a 45 day escrow.
Biggest reason being the underwriter wanted a full 2 year's worth of rent payments before they would give the buyer the loan.
Once he produced those, he was turned down because he wanted his wife on the policy with him. She only had a credit score of 700. Which is actually pretty decent.
He took her off....the newest and last issue we have dealt with is. Those rent checks weren't all exactly the same dollar amount for the last 2 year's. So, he had to explain it down.
In any event it has been a long 3 month's and we are finally to the stage of ordering docs.

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RE: Foreclosure reform? - 5/5/2007 7:43:58 AM

farglebargle

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From: Albany, NY
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quote:

You can't just give people houses, for two very major reasons. One is property rights, if we have any property rights at all they need to be enforced. Squatters put off legally and such.

The old owners surrendered those property rights when they neglected to pay their taxes.

( Which says something about the nature of "Property Rights" as they are in the United States, w.r.t. Real Estate, doesn't it? )

I actually believe it's in the City's best interest to simply raze those properties, and get them off the housing market, thereby making the rest of the housing market healthier.

< Message edited by farglebargle -- 5/5/2007 7:44:51 AM >

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RE: Foreclosure reform? - 5/5/2007 10:34:45 AM

Real0ne

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Here is is at the state level:

Article I, §14
Feudal tenures; leases; alienation. Section 14. All lands within the state are declared to be allodial, and feudal tenures are prohibited. Leases and grants of agricultural land for a longer term than fifteen years in which rent or service of any kind shall be reserved, and all fines and like restraints upon alienation reserved in any grant of land, hereafter made, are declared to be void.

in wisconsin property owners have to pay land and building tax. WHY?

Did they forget to read the dictionary or the constution of wisconsin or both maybe huh? MAybe they just changed the definition with some narrow form of legislation like "homeowner".

Allodial System

Definition
a system of land ownership in which land is held free and clear of any Rent or service due to the government; commonly contrasted to the feudal system. land is held under the allodial system in the united states.

Allodial title
Allodial title is a concept in some systems of property law. It describes a situation where real property (land, buildings and fixtures) is owned free and clear of any encumbrances, including liens, mortgages and tax obligations. Allodial title is inalienable, in that it cannot be taken by any operation of law for any reason whatsoever.

allodial
adj. of the independent ownership of land without any obligation to a feudal lord

Allodial title
Allodial title is a concept in some systems of property law. It describes a situation where real property (land, buildings and fixtures) is owned free and clear of any encumbrances, including liens, mortgages and tax obligations. Allodial title is inalienable, in that it cannot be taken by any operation of law for any reason whatsoever.

ALLODIUM estates. Signifies an absolute estate of inheritance, in coutradistinction to a feud

_____________________________

"We the Borg" of the us imperialists....resistance is futile

Democracy; The 'People' voted on 'which' amendment?

Yesterdays tinfoil is today's reality!

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RE: Foreclosure reform? - 5/5/2007 10:45:31 AM

popeye1250

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From: New Hampshire
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quote:

ORIGINAL: pahunkboy

well- rationally i knew i could not afford a metro area- so i stuck to areas i knew were doable.

a PA real estate contract is 10 pages long. therefor many brokers dont want to sppend the time. car loans are already doing the negative thing. i never ever ever bought a bew car.

i am VERy concerned about gangs taking a grip on my town. vacnat houses are not good.

as for jobs- we have no job base here. one by one the good jobs went overseas over the past 30 years.

many people live off of their credeit cards in 2007. locally most people have their home paid off. it is a retired area by and large.

yesderdaaays paper- electric, gas, water AND property taxes all slated to go up. ouch.

PaHunk, if you're concerned about gangs and crackheads and empty houses I have two words for you that will prevent those problems.
"Gasoline" "Matches"

(in reply to pahunkboy)

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RE: Foreclosure reform? - 5/6/2007 12:16:55 AM

Termyn8or

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Real;

That is too much for these people right now. Soon, but not right now.

T

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RE: Foreclosure reform? - 5/9/2007 3:31:07 PM

Real0ne

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Joined: 10/25/2004
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quote:

ORIGINAL: Termyn8or

Real;

That is too much for these people right now. Soon, but not right now.

T

Yeh but i love telling people "i told you so"! LOL Oh and you know what? i have to give the credit to that little pyramid on the dollar bill that inspired me to do some real research and take it all the way back to isis and horus and everything in between. Once a person understands what it represents and signifies everything in life gets really simple and falls into place like a puzzle that you put together 100 times!

< Message edited by Real0ne -- 5/9/2007 3:33:44 PM >

_____________________________

"We the Borg" of the us imperialists....resistance is futile

Democracy; The 'People' voted on 'which' amendment?

Yesterdays tinfoil is today's reality!

"No man's life, liberty, or property is safe while the legislature is in session

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RE: Foreclosure reform? - 5/9/2007 6:32:10 PM

UtopianRanger

Posts: 3251
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quote:

ORIGINAL: pahunkboy

there is talk of foreclosure reform- at least on the state level in PA. a house will sit vacant for years. im not sure how they want to reform it. but empty houses invite broken windows and worse. also it is a shame that a ouse sits empty when someone with inadaquate or no housing is needing.

HAR!!! The only serious foreclosure reform I've seen mentioned is congress and the administration calling on the tax payers to bail out a portion of the mortgage industry when it goes completely ass-up.

Take a gander at who and how much have been donated to certain {campaign contributions} politicians who chair certain committees. You can see what's coming down the road.

quote:

Allodial title
Allodial title is a concept in some systems of property law. It describes a situation where real property (land, buildings and fixtures) is owned free and clear of any encumbrances, including liens, mortgages and tax obligations. Allodial title is inalienable, in that it cannot be taken by any operation of law for any reason whatsoever.

And Realone.... you're on the mark brother. I've posted at least twice regards the concept of allodial titles and how it all ties back to ''the king and the kingdom''

I would challenge anyone hear to explain why there has never been an allocation process developed that still allows for the collection of taxes, but deprives government entities from laying-claim or seizing personal /private property.

- R

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RE: Foreclosure reform? - 5/9/2007 8:40:18 PM

Griswold

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quote:

ORIGINAL: pahunkboy

there is talk of foreclosure reform- at least on the state level in PA. a house will sit vacant for years. im not sure how they want to reform it. but empty houses invite broken windows and worse. also it is a shame that a ouse sits empty when someone with inadaquate or no housing is needing.

1) It's just talk. They'll tighten up a few things...but rest assured...it's just talk.

2) The feds need people to own houses. If the sub prime market can't fix things on its own (which it will)...the feds will step in...but the market has already done some exceptional stuff.

3) No state wants another Trenton.

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