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Reply #41: The problem: "his lenders won't modify the mortgages" [View All]

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flvegan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-15-08 11:05 AM
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41. The problem: "his lenders won't modify the mortgages"
I'm no fan of property flippers myself, but, ultimately the problem here is that the lenders, blinders in place, aren't willing to keep a loan performing. It's stupid. It hurts the homeowner (or flipper in this case, for whom I have no real sympathy) AND the lender, as well as the neighborhood.
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  -House-flippers in financial hell: "Many areas are becoming ghost towns as families foreclose" El Pinko  Apr-14-08 11:08 PM   #0 
  - You couldn't have said it better.  Gentle Giant   Apr-14-08 11:13 PM   #1 
  - house-flippers can fuck themselves n/t  Skittles   Apr-14-08 11:15 PM   #2 
  - They did - along with a bunch of other people as they helped drive  petronius   Apr-14-08 11:18 PM   #4 
  - you know it  Skittles   Apr-14-08 11:45 PM   #10 
     - "bastards"?  BigDaddy44   Apr-15-08 10:01 AM   #33 
        - The cumulative effect of all the housing speculators was to make housing utterly unaffordable  El Pinko   Apr-15-08 10:12 AM   #37 
  - Unfortunately, you may live next door to several  DBoon   Apr-14-08 11:31 PM   #8 
  - I live in an apartment  Skittles   Apr-14-08 11:42 PM   #9 
     - Guess what. Speculators invest in apartments, too. Hopefully, not yours.  pnwmom   Apr-15-08 03:00 AM   #21 
        - like I said  Skittles   Apr-15-08 04:23 AM   #24 
           - I think you're blaming the wrong people.  pnwmom   Apr-15-08 09:45 AM   #30 
              - The ordinary person is not a career flipper  DadOf2LittleAngels   Apr-15-08 10:10 AM   #36 
                 - YOU KNOW IT DADOF2  Skittles   Apr-15-08 07:20 PM   #42 
  - Ya' know Skittles...  adsosletter   Apr-15-08 01:37 AM   #16 
     - I detest people who exploit  Skittles   Apr-15-08 04:24 AM   #25 
  - This reply sums up my feelings  flygal   Apr-14-08 11:17 PM   #3 
  - Oh, but don't call him bitter. Hey' we're all happy-happy-joy-joy here in America!  calimary   Apr-14-08 11:20 PM   #5 
  - :)  Johonny   Apr-15-08 10:04 AM   #34 
     - :D  calimary   Apr-15-08 10:40 AM   #38 
  - it kind of reminds me what happened to midwest farmers in the 70'S  QuestionAll   Apr-14-08 11:53 PM   #11 
     - I remember that well.  murielm99   Apr-15-08 03:20 AM   #22 
  - No sympathy for house flippers!  leftofcool   Apr-14-08 11:24 PM   #6 
  - risk taking and optimism is the true American religion  DBoon   Apr-14-08 11:28 PM   #7 
  - The people who came in and refurbished good housing stock  Warpy   Apr-15-08 01:01 AM   #12 
  - The only good flippper is ....  corporatemedia   Apr-15-08 01:05 AM   #13 
     - Flipper!!  Jeff_The_Man   Apr-15-08 01:08 AM   #14 
  - These assholes  taught_me_patience   Apr-15-08 01:36 AM   #15 
  - maybe I don't get something about house flippers  renate   Apr-15-08 02:08 AM   #17 
  - There's lots of blame to go around  zeos3   Apr-15-08 02:34 AM   #18 
  - The people I've known who invested in fixer-uppers weren't trying to  pnwmom   Apr-15-08 02:57 AM   #20 
  - I'm not arguing  zeos3   Apr-15-08 05:59 AM   #29 
     - Welcome to DU, zeos3!  pnwmom   Apr-15-08 09:48 AM   #31 
        - Yes they were new  zeos3   Apr-16-08 09:37 PM   #43 
  - Good point  Turbineguy   Apr-15-08 03:56 AM   #23 
  - I agree with you. I don't see why trying to invest sweat and equity  pnwmom   Apr-15-08 02:53 AM   #19 
  - The problem is they're SPECULATORS  western mass   Apr-15-08 04:26 AM   #26 
     - exackery. they took a gamble and they ..........lost  onethatcares   Apr-15-08 04:38 AM   #27 
     - exackery. they took a gamble and they ..........lost  onethatcares   Apr-15-08 04:39 AM   #28 
  - Not to mention Realtors taking 5% every time a house flips!!  L. Coyote   Apr-15-08 09:51 AM   #32 
  - They are speculators who are as much to blame for this mess  DadOf2LittleAngels   Apr-15-08 10:06 AM   #35 
  - A friend of mine convinced me to meet with a guy about this.  Marr   Apr-15-08 10:50 AM   #39 
  - Um, only the owner of the note (the bank) can foreclose....  BlooInBloo   Apr-15-08 10:57 AM   #40 
  - The problem: "his lenders won't modify the mortgages"  flvegan   Apr-15-08 11:05 AM   #41 
 

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