[olecapt]

Originally Posted by tony soprano

Of course your skeptical, because it goes contrary to your advice to hunker down and take advantage of the free ride. The fact that someone might recognize that they have defaulted on a contract and conclude the right thing to do is relinquish the home without squatting, or resorting to extortion, is completely foreign to you.

I think the lenders would tend to follow the law and you disagree?

Thump...thump...thump

[tony soprano]

Originally Posted by olecapt

I think the lenders would tend to follow the law and you disagree?

There's no law compelling the foreclosed homeowner to squat in the home while the bank goes through its machinations.

Thump...thump...thump

Bilk...Bilk...Bilk

[rpachigo]

How 'bout that Penn & Teller.

[VegasResident]

How bout being an ethical borrower, notify your lender, try for a short sale, etc..in other words do the right thing...how about paying your mortgage while you still have the money? They made you a loan to buy a house, they did not sell you a house...why is it ethical to keep living in a house while you are not paying? Would you like it if a renter did that to you because the process takes time?

I feel for your situation, but what makes it right to try and figure out how to stay free? What makes it right to stop paying when your paychecks ahve not stopped?

Fine if you wont be able to afford it and lose your home. That is a horrible thing along with a job lose.

But that does not give you a right to squat in the house. Call them up try a short sale and if you cant hand over the keys since you are no longer paying on your loan and move.

[tony soprano]

Originally Posted by VegasResident

But that does not give you a right to squat in the house. Call them up try a short sale and if you cant hand over the keys since you are no longer paying on your loan and move.

Just when I think the world's gone mad, I see a ray of hope.

[olecapt]

Originally Posted by VegasResident

How bout being an ethical borrower, notify your lender, try for a short sale, etc..in other words do the right thing...how about paying your mortgage while you still have the money? They made you a loan to buy a house, they did not sell you a house...why is it ethical to keep living in a house while you are not paying? Would you like it if a renter did that to you because the process takes time?

I feel for your situation, but what makes it right to try and figure out how to stay free? What makes it right to stop paying when your paychecks ahve not stopped?

Fine if you wont be able to afford it and lose your home. That is a horrible thing along with a job lose.

But that does not give you a right to squat in the house. Call them up try a short sale and if you cant hand over the keys since you are no longer paying on your loan and move.

In general leaving a house vacant does far more damage than staying in it.

The lender may well decline an offer of keys. It may well not be in their best interest to the terms of the contract and the laws involved to accept them. The relationships involved are relatively complex. The relationship between the bank servicing the loan and the investor who actually owns the mortgage may have very large influence over how a loan is handled.

Again a mortgagee is bound by the terms of the mortgage and the law. And it may very well give the owner the right to "squat" in the house until certain specific events occur. Such is written into mortgages and statutues.

Your simplistic morality may in fact maximize the damage to both the owner and the lender.

you particular ethics and moral view may be bad for both the mortgager and the mortgagee.

[tony soprano]

Originally Posted by olecapt

In general leaving a house vacant does far more damage than staying in it.

The lender may well decline an offer of keys. It may well not be in their best interest to the terms of the contract and the laws involved to accept them. The relationships involved are relatively complex. The relationship between the bank servicing the loan and the investor who actually owns the mortgage may have very large influence over how a loan is handled.

Again a mortgagee is bound by the terms of the mortgage and the law. And it may very well give the owner the right to "squat" in the house until certain specific events occur. Such is written into mortgages and statutues.

Your simplistic morality may in fact maximize the damage to both the owner and the lender.

you particular ethics and moral view may be bad for both the mortgager and the mortgagee.

The much higher probability is that you may be throwing as much manure against the wall as possible with the hope that something sticks.

[olecapt]

Originally Posted by tony soprano

The much higher probability is that you may be throwing as much manure against the wall as possible with the hope that something sticks.

May is, in general, the correct term. There is no certainty in this area. The complexities are such that virtually every situation is unique.

And you continue to demonstrate how little of this stuff you understand.

[tony soprano]

Originally Posted by olecapt

May is, in general, the correct term. There is no certainty in this area. The complexities are such that virtually every situation is unique.

Yet, you seek none of the particulars in any of the situations before dispensing your stock advice to take advantage of the system in order to maximize the free ride. You say virtually every situation is unique, yet your advice is always the same; bilk the system.

GailMI explained she was under no financial duress at all. She was concerned with what her situation may be in 15-20 years from now. Does your advice change? Of course not - take a free ride for months on end and ask for key money.

And you continue to demonstrate how little of this stuff you understand.

More likely, I demonstrate that your intent is not to comply with any mortgage or statute. Your intent is to maximize the free ride.

[bccatlady]

"SHOW ME MY ORIGINAL LOAN DOCUMENTS". That should enable you to live in your house forever. Why? Because they won't be able to produce the originals. They were cut up, repackaged, resold and are halfway to China or some other place.

You can live like a king RENT FREE!