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Foreclousre on Christmas Eve

This is a discussion on Foreclousre on Christmas Eve within the Puff Banter forums, part of the Everything But Cigars category; Originally Posted by rob51461 Talk about the" Libor Loans" Cape May county and esp Wildwood was for sale for a ...

  
  1. #46

    Thou Shall Not Doubt Me MoreBeer's Avatar


     

    Re: Foreclousre on Christmas Eve

    Quote Originally Posted by rob51461 View Post
    Talk about the" Libor Loans" Cape May county and esp Wildwood was for sale for a song in the late 90s into the early 00s. people were dumping their life savings into buying Island properties averaging about $40,000 per property and then getting interest only loans to build and got caught when the market bottomed out. Our local weekly paper has at least 8-10 public notice pages each week over the thousands of properties in either tax sale or sherrifs sale. You drive down the road and the For Sale signs have a Short sale notice on them. Its really bad here
    Yeah...Wildwood is a friggin mess. You could probably get a buy one, get one free deal there.
    "I'll Buy That For A Dollar"

  2. #47

    Elder Puffer Fish Leader Cigary's Avatar


     

    Re: Foreclousre on Christmas Eve

    Quote Originally Posted by rob51461 View Post
    We tried that after we found out about the forced ARM loans, we were qualified at the time for a conventional mtg, but when the mtg co threatened our accountant ( my gfs boss ) she backed off because at the time he was the mayor of Wildwood and didnt want or need the press. F'ed up if you ask me

    We had an open case with the state, and they called us back and asked if we were threatened and we said no, but in fact the mtg co threatened fraud charges against my accountant and we withdrew to honor his request
    Sorry to hear that...but he should have contacted the Attorney General as well as 1/2 a dozen other agencies and would probably have been able turn states evidence with immunity. 'Some' mortgage companies have done this kind of thing as well in order to intimidate consumers...it's a mess and until good people get tired of being pushed around and stand up this kind of fraud will continue to go on.
    A mind is like a parachute...it works best when it's open.

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