Canadians deliver water to protest Detroit shutoffs

[Boiler 46,276]

As in they had French accents? Or Boers? There are so many countries in Africa, and such varieties of accents I find it fascinating one might be able to pinpoint with such precision.

Boers have Dutch ancestry.

Are you thinking Cajun?, this is about Detroit.

[JohnR! 5,495]

Boers have Dutch ancestry.

Are you thinking Cajun?, this is about Detroit.

Yes, Boers are African with Dutch ancestry. I have a friend who is African-American from that lineage.

[Janelle2002 3,865]

This thread reminds of a conversation I had with a family member in the Detroit area a few months ago. Apparently they were fighting with the bank over a potential forclosure on the house due to not paying the mortgage for a few months. They hired a lawyer and the premise was that the mortgage was fraudulent when it was obtained 10 years ago. The goal was to not have to pay the mortgage AT ALL based on this allegedly fraudulent mortgage.

Me: what makes the mortgage fraudulent?

Family member: On some of the pages of the mortgage, it has my husbands initials and he say that he never initialed those pages

Me: What was on those pages?

FM: Standard stuff.

Me: So what makes the mortgage fraudulent?

FM: Those aren't his initials

Me: So what do expect from the bank?

FM: I shouldn't have to pay my mortgage because it's fraudulent

Me: Did they raise your interest rate, or do something else to change the rules? Raise the monthly payment?

FM: No

Me: Then I don't get why you think you should get a free house out of the deal.

FM: Because it's a fraudulent mortgage!!!

This went back and forth for about 15 minutes and I gave up.

You mean like how the mortgage companies committed fraud during our big crisis years back? Someone finally done it to them? Karma

[Karee 4,191]

Do they expect to also keep the house or are they just wanting to walk away?

My ex-wife has been able to walk away from two houses so far - after getting mortgage refinance and paying off her cars and a boat and credit cards. On the second house she was able to buy a small third home (in her new husbands name) with the mortgage refinance that she then walked away from and now has no mortgage and a free home.

They expect to keep it. As a matter of fact I think it all worked out for them.

[DavenRoxy 1,073]

Off topic and knowing the application of the rules discussing immigration topics might get me banned.

But

Wife got her 10 year green card today, ROC. Applied in late Feb. Someone was asking earlier. So about 5 months.

Wait, what?? Didn't you apply thru VSC? They had NO approvals (on VJ anyway) thus far. You may have been one of the first, I will have to go check the ROC thread now!

[DavenRoxy 1,073]

Do they expect to also keep the house or are they just wanting to walk away?

My ex-wife has been able to walk away from two houses so far - after getting mortgage refinance and paying off her cars and a boat and credit cards. On the second house she was able to buy a small third home (in her new husbands name) with the mortgage refinance that she then walked away from and now has no mortgage and a free home.

How does one "walk away from" a refinance?

[DavenRoxy 1,073]

Wait, what?? Didn't you apply thru VSC? They had NO approvals (on VJ anyway) thus far. You may have been one of the first, I will have to go check the ROC thread now!

There are 5 February approvals, plus yours makes 6. Still none for April. This for VSC.

[OnMyWayID 1,489]

How does one "walk away from" a refinance?

Since it is just a mortgage it is exactly the same... When house prices were on the upside of the bubble you would buy a house for say 500,000 then refinance it for 650,000 with the purpose of paying off all your debt as part of qualifying to get to the 29% of gross income needed to afford the payment.. Afterwards you walk away from the new mortgage with all the stuff you just payed off since the house was the only thing securing the loan.

The second time on the second house she refinanced to a lower rate interest only loan since this would allow a greater amount to borrow for the 29% - not really important since there was no intention of ever paying it back... Used the money to buy the third house (all cash from the second house mortgage refinance) in the husbands name before she walked away from the second house.. So her credit is destroyed for the next 10 years but then she has a free house, cars, and zero debt... They just switch to living off the husbands credit for now

In theory when there is a forecloser the buyer is responsible for the difference in the loan to resale price which does not come into play in a rising market (since people will sale the house and pay off the loan if they run into trouble).. People who know how to hide assets can get away with it when the prices drop.

[OnMyWayID 1,489]

They expect to keep it. As a matter of fact I think it all worked out for them.

*that* is amazing.. NPR did a series on the lawyers going after the banks for the improper and lost paperwork on mortrgages. I've heard of people being able to walk away from their homes and the loan - I've not heard of anyone being able to not pay the loan but keep the house (legally anyway). Horrible!

Edited July 28, 2014 by OnMyWayID

[Janelle2002 3,865]

*that* is amazing.. NPR did a series on the lawyers going after the banks for the improper and lost paperwork on mortrgages. I've heard of people being able to walk away from their homes and the loan - I've not heard of anyone being able to not pay the loan but keep the house (legally anyway). Horrible!

Don't believe that hype.

[Karee 4,191]

*that* is amazing.. NPR did a series on the lawyers going after the banks for the improper and lost paperwork on mortrgages. I've heard of people being able to walk away from their homes and the loan - I've not heard of anyone being able to not pay the loan but keep the house (legally anyway). Horrible!

Well I doubt they would tell me truthfully if it didn't work out and they were forced to pay the mortgage since I came across as thinking they were trying to get away with something. (Which I still think) I have a lot of stories like that. Folks living off disability (but making sure they have enough $ to score the best weed) Timing your unemployment benefits to run out right as your eligible for Social Security. Those 99 weeks worked out quite well for that family member. Getting a gazillion $ in school loans with no way to pay them back. Seems like the disability thing is the real jackpot for some reason. They all love that one.

Most of them don't talk to me because they think I judge them (which I do) That's why when I see a story like this one about these Canadians coming across the border thinking they're doing something good for the community, I laugh my a$$ off. As I've stated before I have no issues with govt. assistance, it's when people turn it in to a career/way of life that drives me nuts.

Don't believe that hype.

You calling me a liar?

[Janelle2002 3,865]

Well I doubt they would tell me truthfully if it didn't work out and they were forced to pay the mortgage since I came across as thinking they were trying to get away with something. (Which I still think) I have a lot of stories like that. Folks living off disability (but making sure they have enough $ to score the best weed) Timing your unemployment benefits to run out right as your eligible for Social Security. Those 99 weeks worked out quite well for that family member. Getting a gazillion $ in school loans with no way to pay them back. Seems like the disability thing is the real jackpot for some reason. They all love that one.

Most of them don't talk to me because they think I judge them (which I do) That's why when I see a story like this one about these Canadians coming across the border thinking they're doing something good for the community, I laugh my a$$ off. As I've stated before I have no issues with govt. assistance, it's when people turn it in to a career/way of life that drives me nuts.

You calling me a liar?

No I am not. I am saying that it could be a story that has progressively changed, (like an urban legend), which may have lost factual information over time.

[UncleBeer 244]

You calling me a liar?

Sure looks like it.

[GandD 5,966]

No joke, when did you ever see a bank give away anything. Ever?

[Janelle2002 3,865]

No joke, when did you ever see a bank give away anything. Ever?