[tony soprano]

Originally Posted by olecapt

I think that keys in lieu is a very good idea. I think your view that the owner controls such a decision is nutso. Banks don't take deeds in lieu because the owner asks. You get the same behavior as on a short sale.

Originally Posted by The Huffington Post

Jenny Kakasuleff and Brandon Rogers, a couple from Indiana, ended up pursuing a deed in lieu when it became clear that negotiations with their lender were going nowhere fast. Although they had received two short sale offers for their home, the bank wouldn't accept them, and instead of going into foreclosure, Jenny and Brandon decided to provide a deed in lieu and hand over the keys:
Deed-In-Lieu Vs. Foreclosure: A Couple Has No Option But To Hand Over The Keys

Outside of your various suggestions on how to maximize the free ride, do you ever get any of this stuff right?

[inveritatemonstra]

This thread is so dead until people come to the realization that the boom created to get out of the last recession created this mess to begin with.

Unless businesses get it and do what needs to be done.... we'll be sitting here for years just like the Great Depression attempting to keep artificially high prices artificially high.

RESET the big mistake of the Govt. and move forward.

NOBODY wins... and nobody is certainly going to win with the complete lack of leadership to move forward.

FACE it... booms come to an end and Artificial booms come to a collapse. Do what you need to do to move forward otherwise you will be suffering for years to come....

D.C. and Wall Street are in bed together... period.

[tony soprano]

There is no simple reset button for the current situation. We're experiencing the worst recession since the '30s and that's with the majority of homeowners still maintaining their mortgages. By some estimates, 50% of existing mortgages will be underwater by the end of 2011.

Half Of US Homeowners Will Be Underwater By 2011

If those kind of numbers came to pass, and every underwater homeowner were to follow the advice of the resident bilking expert and walk away from their mortgage, the US financial system would collapse under the sheer weight of billions upon billions of losses. That isn't hyperbole. That's fact.

But hey, everyone cut their losses and take advantage of the system to live rent free as long possible, and don't forget your key money. It's totally legal!

[Fastrudy]

You know full well that this stuff is happening everywhere.

And everywhere it happens, it is unethical

[olecapt]

Originally Posted by tony soprano

Outside of your various suggestions on how to maximize the free ride, do you ever get any of this stuff right?

You don't read well either?

The couple asked the bank to take a deed in lieu. Just like a short sale. The bank controls whether or not they will take a deed in lieu. They often refuse or set conditions. It is very much like a short sale.

Now go try something you know something about.

[olecapt]

Originally Posted by tony soprano

There is no simple reset button for the current situation. We're experiencing the worst recession since the '30s and that's with the majority of homeowners still maintaining their mortgages. By some estimates, 50% of existing mortgages will be underwater by the end of 2011.

Half Of US Homeowners Will Be Underwater By 2011

If those kind of numbers came to pass, and every underwater homeowner were to follow the advice of the resident bilking expert and walk away from their mortgage, the US financial system would collapse under the sheer weight of billions upon billions of losses. That isn't hyperbole. That's fact.

But hey, everyone cut their losses and take advantage of the system to live rent free as long possible, and don't forget your key money. It's totally legal!

So your thesis now is that half of America is unethical and that half is those who have a reason to be so? What a wonderful view of our country.

[jfkIII]

Originally Posted by olecapt

You don't read well either?

The couple asked the bank to take a deed in lieu. Just like a short sale. The bank controls whether or not they will take a deed in lieu. They often refuse or set conditions. It is very much like a short sale.

Now go try something you know something about.

How'd I miss THAT one????

You just slip out the back, capt...
Do a deed in lieu, Lou....
No need to be phoney, Tony...
Just get yourself free!

[tony soprano]

Originally Posted by olecapt

You don't read well either?

The couple asked the bank to take a deed in lieu. Just like a short sale. The bank controls whether or not they will take a deed in lieu. They often refuse or set conditions. It is very much like a short sale.

Now go try something you know something about.

The point, which you entirely missed, is that the deed in lieu is an option. It's an option just as foreclosure, a short sale, or squatting are options. You however, never suggest it as an option because it doesn't take advantage of the system to maximize the free ride. It's an option that wouldn't occur to a bilker.

[tony soprano]

Originally Posted by olecapt

So your thesis now is that half of America is unethical and that half is those who have a reason to be so? What a wonderful view of our country.

Read it again. I specifically stated that we're suffering the worst recession in decades even when the majority of homeowners are maintaining their mortgages. Majority would mean "most". As in most homeowners are trying to do the right thing. I then went on to say if all underwater homeowners followed your advice to walk away from their mortgages, it would have disastrous results to the US economy. Collectively, we should all be very thankful that most underwater homeowners reject your sheister advice.

[olecapt]

Originally Posted by tony soprano

The point, which you entirely missed, is that the deed in lieu is an option. It's an option just as foreclosure, a short sale, or squatting are options. You however, never suggest it as an option because it doesn't take advantage of the system to maximize the free ride. It's an option that wouldn't occur to a bilker.

Again you started out this idiot thought with the view That keys in lieu was in someways different Than a short sale and something outside a rational approach to losing a property to a lender. It is not. It involves an agreement by the lender that they will accept it. And I do suggest it after a short sale as better than a foreclosure. Note that it to adds time to the process.

In all of these things the key is to arrive at an understanding on the money whatever is the path of choice. The sequence, in most cases should be a loan mod, than a short, than a deed in lieu than foreclosure and then, perhaps, a BK.

You still obvious don't understand what "squatting" means.