Home Wreckers

[Wolfgang]

I'm not one to go for those featurettes they have on the nightly news, but this one might be worth watching.
It's on the ABC news (5.30 Mountain time), and takes a look at the housing market and peoples' (mis)adventures pursuing the American dream of the Little House on the Prairie (or, in most cases, the suburbs).
On Monday, they showed a development in North Carolina, where 77 out of 100 home buyers were facing foreclosure and were basically staring at financial ruin because they bought too much house and were basically tricked into much higher mortgage payments than they had bargained for.

I am looking for a place myself at this time, and the amount of false advertising, bait & switch, misrepresentations, and just outright lies is absolutely staggering.
The real estate market makes used car dealers look like eagle scouts........

 

[Dee4707]

Wolfgang, I don't know if this applies to this situation but they had a news report on the radio this morning about buying homes. What happend was one of the news people bought her first home and after the sale while attempting to remodel discovered a crack in the foundation. Anyhow the end result is if you're going to buy hire a real estate attorney.

Dee

 

[megsk8z]

Predatory lending is one of the worst scams ever perpetrated on people that want to buy a house. It seems like every time I read the real estate section of the paper there are more and more houses being repossessed by the bank that has loaned them money. These people count on a person's inability to understand what they are being asked to sign.

And what braniac dreamed up the "interest only" mortgage? Obviously someone that would cheer if they had to repossess the house in question.

But many people want to own a home so badly that they'll sign anything.

 

[Ladskater]

We have had reports here in Canada of "Real Estate House theft." Someone walks into your bank or credit union with legal papers saying they have closed a deal on your home turning it - legally over to them - without your knowledge. In other words they steal the house right from under you. It happened to a lady in Ontario. They now have some kind of mortgage insurance - as if we don't have enough expenses!!!

 

[Tonichelle]

depending on where you're looking to live... I know a great person to buy through in Alaska...

but I don't think you want to move up here...

but look Fred Braun up anyone who is looking to move to S. Central Alaska (mainly the Kenai Peninsula, but I've seen his name up here in Anchroage too)... he's the most trustworthy real estate agent I know! LOL

 

[Jhar55]

From the title of the thread it's not what I thought it was going to be about.
Thought it was another thread about someone breaking up another marriage.
IMO you can't break what's already broken.

 

[SeaniBu]

depending on where you're looking to live... I know a great person to buy through in Alaska...

but I don't think you want to move up here...

but look Fred Braun up anyone who is looking to move to S. Central Alaska (mainly the Kenai Peninsula, but I've seen his name up here in Anchroage too)... he's the most trustworthy real estate agent I know! LOL

I am looking him up now to get a place right next door to you.

Talk about a Homewrecker