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(The Raw Story)   Fark's favorite state leads the way in foreclosures. Fark: of banks   (rawstory.com) divider line 8
    More: Florida, foreclosures, homeowners  
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2404 clicks; posted to Main » on 27 Dec 2012 at 1:53 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



8 Comments   (+0 »)
   
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2012-12-27 01:54:36 PM
Someone tell me who to hate?! I don't know, it's all confusing

/eip
 
2012-12-27 01:56:51 PM
Ironic tag sips an umbrella drink.....

watermarked.cutcaster.com
 
2012-12-27 02:02:14 PM

What_do_you_want_now: Someone tell me who to hate?! I don't know, it's all confusing

/eip


My personal order of evil in this situation.
Investment Banks, HOAs, Banks.

We just need to find out what type of bank it was.
 
2012-12-27 02:30:40 PM
Suit and Tie folks get to hide behind their computers, trying to avoid paying every single thing they don't have to pay. Banks, insurance, etc.

They have to be hauled out info the spotlight. Legal letters are a nice way to do that. I approve.
 
2012-12-27 02:38:00 PM
There are far too many banks anyway.Nearly every intersection around here has at least one bank branch, if not 2 or 3. They seriously outnumber the fast food places. I'm not sure how they attract enough customers to pay for all those branches.
 
2012-12-27 05:53:38 PM

BradleyUffner: There are far too many banks anyway.Nearly every intersection around here has at least one bank branch, if not 2 or 3. They seriously outnumber the fast food places. I'm not sure how they attract enough customers to pay for all those branches.


Know how I know you didn't RTFA? Banks are foreclosing on borrowers, then are unable to sell the property, so HOA fees accrue, so the HOA then forecloses on the bank. Now the HOA owns the property, unless someone else buys it on the court house steps for the cost of the back HOA dues.

MindStalker: My personal order of evil in this situation.
Investment Banks, HOAs, Banks.

We just need to find out what type of bank it was.


Well, it depends on how it all went down in each specific situation, honestly. Generally speaking, it's going to be the collection agency that is doing the first foreclosing on the homeowner and will thus end up with title to the house in the subdivision. Now, I'm not sure if they transfer title to those properties back to the originator after foreclosure or if they're just now in the real estate business or what, but whoever ended up with it after the first foreclosure sale is the one not paying HOA dues leading to the second foreclosure.
 
2012-12-28 08:39:06 AM

BradleyUffner: There are far too many banks anyway.Nearly every intersection around here has at least one bank branch, if not 2 or 3. They seriously outnumber the fast food places.


And they're never the same bank from week to week, either.
 
2012-12-29 05:23:43 PM
This is an old thread, but obligatory: http://www.thedailyshow.com/watch/mon-august-8-2011/the-forecloser
 
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