patrick.net

Nevada has 100,000+ homes in which the owner hasn't made a mortgage payment in at least 3 months.

Think about that for a moment.

Meanwhile, in California, a whole new set of road blocks will arrive January 1st with the Homeowner's Bill of Rights. How do people who haven't made a payment in a year or three have rights?

I no longer feel the slightest bit of sympathy for these delinquent home debtors. I spent the weekend moving my cousin from her rented home. She got a notice two months ago from a bank that told her they were foreclosing on her land lord and she had until the end of September to move. This was hard for her as she has horses and dogs and finding property to accommodate both is tough. The bank said not to pay the landlord any more rent as he had no legal right to it. She did, and the guy SUED her over 1.5months of rent! That's not including her deposit (one months rent) which he will probably decide to keep. The sheer audacity of these leeches just amazes me!

Quigley says

She did, and the guy SUED her over 1.5months of rent! That's not including her deposit (one months rent) which he will probably decide to keep. The sheer audacity of these leeches just amazes me!

LOL. LL does not want to pay the bank but wants rent? We have created too many laws in this country to unnecessarily lengthen the foreclosure process. Again,govt. has vested interest in doing that.

Call it Crazy says

Yep, can't you "smell" the housing recovery now in NV!!! (smells like burned toast...)

It is good to know that all the wealthy families in Phoenix that are now priced out of a house have a place to land. You know, with that wicked 20-40% appreciation that is happening over there.

Quigley says

The bank said not to pay the landlord any more rent as he had no legal right to it. She did, and the guy SUED her over 1.5months of rent! That's not including her deposit (one months rent) which he will probably decide to keep.

The bank tried to pull that crap on me, I demanded a judges order for such a request. That was that!

I rented the same place from 1999 through 2010, went through three owners, all through out the bubble. Finally settled on the last winner, this Colombian lady, that believed Obama was going to rescue her any day now, so she stopped paying in January of 2009.

By the Spring of 2010 the bank's lawyer sent us a registered letter, I told them I would be glad to, if they could produce a letter from a judge requesting I do so. I never head back from them. But that was the straw that pushed us over the edge to start looking for a place. We were closed on a house by September 1st f 2010.

I don't know if she had money to eventually pay, or she actually got an adjustment, but the Colombian Lady is still there.