Re: No consequences… - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on February 09, 2001 at 20:27:55:
You see it is not necessary to make house payments. It takes a long time to do a forclosure, and then an eviction. So the occupant can save one or two months payments to pay for the bankruptcy, and then in a short time get another house…no problem, no consequences, just a bunch of free rent.
Then the owner will seldom be held responsible for the cost of selling the property. That sale is laced with government waste, things like don’t allow one person to do the job when we can assign six or seven to just select the outside realtor to get the job done in just 18 short months plus or minus a half of a year. Lots of good jobs would go begging if there were consequences, and the flow of repo houses was slowed down. This is big business, your tax dollars at work.
You can not solve a problem for someone who does not have a problem. A simple forclosure is not really a problem for the owner.