flipper Posted October 10, 2008 Share Posted October 10, 2008 Sign of the times?Watching news from last night (via CBS Evening News) and in Cook County, IL the sheriff's office has stopped doing evictions.More specifically, they aren't evicting tenants who have been paying their rent but are living in a place where the landlord hasn't been paying the mortgage and is being foreclosed on.flipper Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 10, 2008 Share Posted October 10, 2008 You mean other than the obvious? Rum and Cigarettes! What's your favorite brands? I might stock up if I need a "good" lawyer! Link to comment Share on other sites More sharing options...
houstonmacbro Posted October 10, 2008 Share Posted October 10, 2008 More specifically, they aren't evicting tenants who have been paying their rent but are living in a place where the landlord hasn't been paying the mortgage and is being foreclosed on.flipperAh, thanks for the point of clarification. Link to comment Share on other sites More sharing options...
sevfiv Posted October 10, 2008 Share Posted October 10, 2008 Yep:Dart said he believes banks are not doing basic research to determine that the people being evicted are, in fact, the homeowners.He said that in a third of the 400 to 500 foreclosure evictions his deputies had been carrying out every month, the residents are not those whose names are on the eviction papers.Nor, he said, are banks notifying tenants that the homes they're renting are in foreclosure. He added that when banks do learn the correct names of those living on foreclosed-upon property, their names often are simply added to eviction papers."They just go out and get an order the next day and throw these people's names on there," Dart said. "Whether they (tenants) have been notified, God only knows."Evictions for nonpayment of rent will continue, Dart said, explaining that those cases already have gone to court, his office is confident the people being evicted are who the landlord says they are, and there is no question the tenants are aware of what is going on.Dart said it's only fair for banks to give occupants of a foreclosed property adequate notice before forcing them out."You are talking about a lot of people in rental situations living paycheck to paycheck," he said. "To think they are sitting on a pool of money for an up-front deposit, security deposit, is foolishness." http://ap.google.com/article/ALeqM5gWQSAw_...D24H5gD93MJAO00 Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 10, 2008 Share Posted October 10, 2008 More specifically, they aren't evicting tenants who have been paying their rent but are living in a place where the landlord hasn't been paying the mortgage and is being foreclosed on.flipperI think that if there is going to be a direct relief plan by the government, these should be some of the first targets. Buy the note and restructure the loan to allow those renters to become buyers and if there is any equity in the home, they gain all that after one year of good payment history. And the landlord, he gets squat but a hit on his/her FICO. Link to comment Share on other sites More sharing options...
houstonmacbro Posted October 10, 2008 Share Posted October 10, 2008 I think that if there is going to be a direct relief plan by the government, these should be some of the first targets. Buy the note and restructure the loan to allow those renters to become buyers and if there is any equity in the home, they gain all that after one year of good payment history. And the landlord, he gets squat but a hit on his/her FICO.Most of these people could give a hill of beans about FICO scores. I know if I were sinking financially, it would be bad, but hell, it's a credit score after all ... not the end of the world. Link to comment Share on other sites More sharing options...
ricco67 Posted October 10, 2008 Share Posted October 10, 2008 Why is it that I'm suddenly thinking we're on the verge of discussing a commune of homeless people?Do we steal sheetrock for said bridge?I gave up on my credit cards several years ago and have been actively and enthusiastically paying them down and I have actually INCREASED my investments a bit, but I might have to reconsider that move in light of college (kid) considerations/cost ("you are going to buy a Meat slicer??"). The reasoning by my increasing my investments is because I like bargain hunting. Link to comment Share on other sites More sharing options...
flipper Posted October 11, 2008 Share Posted October 11, 2008 That would be an interesting test. By tomorrow, this week should be the worst week on the DOW in history. I am curious how many people will feel poor enough (even though their paycheck is unaffected) not to want to spend money on a restaurant meal.All who venture out, feel free to post here.anyone go out to deener tonight?flipper Link to comment Share on other sites More sharing options...
musicman Posted October 11, 2008 Share Posted October 11, 2008 anyone go out to deener tonight?flipperthe jalapeno burger was great. Link to comment Share on other sites More sharing options...
Mark F. Barnes Posted October 11, 2008 Share Posted October 11, 2008 Sam's Boat was packed as always, the Shrimp Diablo was as good as always. No one was walking the plank.......... Link to comment Share on other sites More sharing options...
memebag Posted October 11, 2008 Share Posted October 11, 2008 anyone go out to deener tonight?Not me. The FMB cooked chicken for me and the love child. But we went out to lunch yesterday and breakfast today. Link to comment Share on other sites More sharing options...
Subdude Posted October 11, 2008 Share Posted October 11, 2008 I posted in another thread that Cadillac's wretched excess ads seem a bit incongruous right about now. I thought I'd start a thread about other things that seem a bit out of place in today's economy.1. The aforementioned Cadillac ads...both that chick in the CTS, and the dude who wants a bathroom in his Escalade. 2. Hummers. Been that way for awhile, but never more than now, for oh so many reasons. 3. TLC's Flip That House. Are you kidding me? How about Burn That House! 4. Stock picking software advertised on CNBC. Dude, I don't need a computer program to tell me when to SELL! 5. Real Estate infomercials. No money down? Really? Right. 6. Anything that says 'high end', 'upscale', or 'luxury'. Yeah, not after the AIG execs got their asses handed to them. 7. 'Traders'. Anyone who hung out in downtown watering holes in the late 90s was inevitably forced to endure the loud, drunken bragging of Enron energy traders, telling the entire bar how much money he made that day. The subset of traders is anyone who claimed to be invested in the market, telling you how much money their keen insight made them that day. Both have been replaced by the 'Crier', who tells you how much he LOST today. Criers are easier to take than Traders. 8. McMansions. Far from a conspicuous display of wealth, now McMansions have become a conspicuous display of the size of one's mortgage and electric bill. Those are just a few (actually 8) off the top of my head. Feel free to add your own incongruous sights. Human nature being what it is, I don't think ostentatious displays of wealth will EVER go out of style. I don't know why, but I think we're wired that way. Link to comment Share on other sites More sharing options...
N Judah Posted October 11, 2008 Share Posted October 11, 2008 Human nature being what it is, I don't think ostentatious displays of wealth will EVER go out of style. I don't know why, but I think we're wired that way.There are more rich people than ever. Luxury will continue to be strong. If a Russian billionaire loses several billion dollars in the markets, is he not still a billionaire? Link to comment Share on other sites More sharing options...
houstonmacbro Posted October 11, 2008 Share Posted October 11, 2008 How about this one: A $30 million dollar trip into space by an Austin software magnate Link to comment Share on other sites More sharing options...
crunchtastic Posted October 11, 2008 Share Posted October 11, 2008 There are more rich people than ever. Luxury will continue to be strong. If a Russian billionaire loses several billion dollars in the markets, is he not still a billionaire?Agree completely that wealth, and the display of it, is never going out of style. However,I think many wealthy people are vulnerable. Some, should times get bad enough, will spend a significant amount of their wealth attempting to guard it -- the fortress mentality. That doesn't come cheap, though, and trusting those who protect you can be a dangerous game.Subdude's right, we are so very hard wired for it. For example, I've traded all of my diamond jewelry for gold coin. I'm just not really a jewelry person. On the other hand, I still covet the expensive watch I've wanted for years. I'm sure eventually I'll buy it, too. Makes no sense. Humans are complicated and flawed when it comes to money. Link to comment Share on other sites More sharing options...
Heights2Bastrop Posted October 12, 2008 Share Posted October 12, 2008 I unhooked my TV last January, but about a week or two before the vote on the bailout, I was at GF Link to comment Share on other sites More sharing options...
flipper Posted October 13, 2008 Share Posted October 13, 2008 Found on Drudge... http://www.nydailynews.com/money/2008/10/1...dropoff_de.htmlWhat are the chances many of the "clients" are behind on their mortgage?flipper Link to comment Share on other sites More sharing options...
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