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aquart

(69,014 posts)

1. And this helps the homeowner HOW?

Reply to Roland99 (Original post)

Tue Feb 7, 2012, 12:49 PM

Feb 2012

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Banks Paying Cash to Homeowners to Avoid Foreclosures [View all] Roland99 Feb 2012 OP

And this helps the homeowner HOW? aquart Feb 2012 #1

Well, better than walking away from a bad situation with nothing. Hoyt Feb 2012 #2

35K would not help you? nt Snake Alchemist Feb 2012 #4

Not if the difference between owed and sale price is over $35,000, no. aquart Feb 2012 #9

If the house is worth 100K, but you owe 200K and the bank is offering 35K Snake Alchemist Feb 2012 #15

It lets you walk away from a home without debt or bankruptcy. Atypical Liberal Feb 2012 #5

8 Million Americans have now been exposed to foreclosure.... lib2DaBone Feb 2012 #3

I think these are the first chunks of an avalanche. Atypical Liberal Feb 2012 #6

Forecloses costs run into the THOUSANDS of Dollars happyslug Feb 2012 #7

So the MBA banksters finally listened to a serf or 2 in their back office. Mopar151 Feb 2012 #17

Yes, because no matter how bad their decisions, they will ALWAYS make bundles of money. closeupready Feb 2012 #20

Plus, if the bank re-sells the house, dixiegrrrrl Feb 2012 #21

I'm guessing the money from the bank goes to pay income taxes on the short sale Fiendish Thingy Feb 2012 #8

Shouldn't really help Sgent Feb 2012 #12

Not so. PassingFair Feb 2012 #13

Not necessarily true, the forgiven debt is not always taxable income. intheozone Feb 2012 #14

That was in days past. Not so much anymore. nt Snake Alchemist Feb 2012 #16

I got $2000, so I wouldn't trash the place on the way out. tridim Feb 2012 #10

AH! They're forgiving the mortgage! aquart Feb 2012 #11

This could help some people I guess Obama3_16 Feb 2012 #18

This is simply a work around on the securities fraud committed by Wall Street banks. ms.smiler Feb 2012 #19

Ha!!!! I KNEW there had to be a pickle in there somewhere. dixiegrrrrl Feb 2012 #22

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