Stop in for a cup of coffee

[krazykuda]

Found number 3 on Monday eve

Three....

I guessed it before looking ahead....

 

[krazykuda]

Nope, i wish. The thing has been in foreclosure for 4 years now. The banks, all big national banks, have been fighting over this property tooth and nail. With all three having 6 figure mortgages out on it, they'll be the only ones with the funding to get it. its appraised at 89,000, but theres 310,000 in outstanding liens against the property. It's a cash only court ordered sale. The court also put a stipulation that 50% of the outstanding debt must be covered by the amount it goes for at auction, or it doesn't sell. Then each bank is to split the amount 3 ways, minus court costs and taxes that are past due on it. In other words, aint no citizen getting that property at the sale. It'll go to a bank who will then flip the property to make its money bank.

So, nobody will own it for a long time... Who would pay 3 times what it costs???

Whatever bank ends up with it, will end up with it forever....

 

[MOPARMITCH]

Sorry to hear. Especially for Mrs Mitch with them being friends...

Yup, She did not take it well, Shook me up pretty good too. Never had anyone Die on my property before..

 

[memike]

I thought @Rainy Day Auto was in town

 

[zkx14]

So, nobody will own it for a long time... Who would pay 3 times what it costs???

Whatever bank ends up with it, will end up with it forever....

I would expect the bank that gets it will want to unload it at market value. They pay a portion to the other 2, but get back a little more of their loan. They all lose money, its just who loses more at this point.

 

[MOPARMITCH]

Damn...

It's not your fault, even if you did say anything she most likely wouldn't have listened....

Im pretty sure She had a relapse and overdosed on Opioids, Pain, killers or even Heroine. Everyone else, including the Police, assume she merely died in her sleep

 

[memike]

How many times in ones life, must a Man find a Dead Body ????

Never, and hope to never get on the list of someone finding one

 

[MOPARMITCH]

Sorry to hear. Especially for Mrs Mitch with them being friends...

I also knew her for 47 years. Her and Sue probably only met a year or two before us

 

[MOPARMITCH]

Never, and hope to never get on the list of someone finding one

So, my wifes best childhood friend of 47 years,Laurie , came to rent my Garage apartment , back in March. She had left her boyfriend in Baltimore, because he Drank too much. She had had a very hard life. Two Divorces, Drug addiction in her 20s and 30s. Her only child was killed in a car accident 10 years ago. We thought everything was ok with her, although I did find her wobbley and in-coherent , once when she first got here. I told Sue, but she blew me off about it. Well, We did not see her since last Saturday, So we went up in the apartment Monday Evening to check on her. We found her DEAD in her bed !!!!!!!!!!!!!!

 

[krazykuda]

Im pretty sure She had a relapse and overdosed on Opioids, Pain, killers or even Heroine. Everyone else, including the Police, assume she merely died in her sleep

At least she died peacefully in her sleep, not painfully in convulsions or something like that....

 

[dukeboy440]

So, my wifes best childhood friend of 47 years,Laurie , came to rent my Garage apartment , back in March. She had left her boyfriend in Baltimore, because he Drank too much. She had had a very hard life. Two Divorces, Drug addiction in her 20s and 30s. Her only child was killed in a car accident 10 years ago. We thought everything was ok with her, although I did find her wobbley and in-coherent , once when she first got here. I told Sue, but she blew me off about it. Well, We did not see her since last Saturday, So we went up in the apartment Monday Evening to check on her. We found her DEAD in her bed !!!!!!!!!!!!!!

Dude that really sucks. Prayers man. Dont beat yourself up and dont let your wife do it either. Doubtful even if you'd gotten her to a doctor that things would have changed. When its your time, it's your time.

So, nobody will own it for a long time... Who would pay 3 times what it costs???

Whatever bank ends up with it, will end up with it forever....

I know right. I just want it for acreage and the pond. I'd knock the house down but oh well. I'm gonna watch it and maybe a few years down the road, the bank will get tired of owning a property they can't sell and sell it to me at value.

 

[memike]

My goodness ! That had to be a bad thing to see, I can not even imagine

 

[krazykuda]

Yup, She did not take it well, Shook me up pretty good too. Never had anyone Die on my property before..

One downside of being a landlord...

 

[dukeboy440]

I would expect the bank that gets it will want to unload it at market value. They pay a portion to the other 2, but get back a little more of their loan. They all lose money, its just who loses more at this point.

yeah, property needs a ton of work, its really ran down so its not got much eye appeal, heck the house is only 680 sq feet.

 

[krazykuda]

I would expect the bank that gets it will want to unload it at market value. They pay a portion to the other 2, but get back a little more of their loan. They all lose money, its just who loses more at this point.

Spread the loss... the banks deserve it after what they did to the economy in 2008....

This is a case where it comes back to bite them in the @ss....

Can't say that I feel sorry for the banks....

 

[krazykuda]

I know right. I just want it for acreage and the pond. I'd knock the house down but oh well. I'm gonna watch it and maybe a few years down the road, the bank will get tired of owning a property they can't sell and sell it to me at value.

In the mean time you can enjoy the empty property while they get it all figured out...

Eventually they will need to off load it after the taxes keep adding up... Hopefully then you can score a good deal...

 

[MOPARMITCH]

One downside of being a landlord...

But Hey ... Her parents came here, right away. before they left, they told me, they give me all the furniture up there. Now I have a furnished 2 bedroom 2 bath, with kitchen and laundry room, for rent..$1200 ... cheap.... Who needs it ?????????????

 

[Princess Valiant]

I thought @Rainy Day Auto was in town

View attachment 1715063856

That's my name, don't wear it out . J/k

Actualy its my nick name since i was a kid. They called me rainy (rani) because everytime it would rain, i would hide under a table because when i was real little the thought of water coming from the sky really freaked me out and made me cry.

I know it sounds dumb but i was really little then and the nick name stuck.

 

[zkx14]

yeah, property needs a ton of work, its really ran down so its not got much eye appeal, heck the house is only 680 sq feet.

Working through the math... if they sell at half the debt approx. 150K.. Bank buys it only gets on third of that back. So now they spent another 100K on a property that already owed them 100K. Down 200 and can only hope to get 90 back? Seams they would be further ahead to walk away...

 

[krazykuda]

But Hey ... Her parents came here, right away. before they left, they told me, they give me all the furniture up there. Now I have a furnished 2 bedroom 2 bath, with kitchen and laundry room, for rent..$1200 ... cheap.... Who needs it ?????????????

Good on the free furniture, but some people are a little squeamish about occupying a building that someone died in... Some people may pass if they find out... (Don't volunteer the info - don't ask don't tell policy there....)

 

[krazykuda]

But Hey ... Her parents came here, right away. before they left, they told me, they give me all the furniture up there. Now I have a furnished 2 bedroom 2 bath, with kitchen and laundry room, for rent..$1200 ... cheap.... Who needs it ?????????????

Is that where Ray is going to stay when he visits, or do you have space for him somewhere else???

 

[dukeboy440]

Working through the math... if they sell at half the debt approx. 150K.. Bank buys it only gets on third of that back. So now they spent another 100K on a property that already owed them 100K. Down 200 and can only hope to get 90 back? Seams they would be further ahead to walk away...

Yeah, honestly, i can see the banks not buying it now that i think about it, letting the county seize it under unpaid taxes and then swoop in and get it

 

[krazykuda]

Working through the math... if they sell at half the debt approx. 150K.. Bank buys it only gets on third of that back. So now they spent another 100K on a property that already owed them 100K. Down 200 and can only hope to get 90 back? Seams they would be further ahead to walk away...

Yep, when fishing and your line gets snagged, you need to know when to cut it and re-set-up your line....

 

[krazykuda]

Yeah, honestly, i can see the banks not buying it now that i think about it, letting the county seize it under unpaid taxes and then swoop in and get it

Yep, watch for a tax auction on it...

 

[krazykuda]

That's my name, don't wear it out . J/k

Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani, Rani....


There - it's worn out....