RE: Models homes being demolished by banks

RE: Models homes being demolished by banks (Full Version)

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Louve00 -> RE: Models homes being demolished by banks (5/6/2009 7:28:46 PM)
quote: ORIGINAL: MasterG2kTR One of the real kickers is that the bank doing received bailout funds so "WE" are paying for that. It also seems to me that they could have cut the price in half and still come out ahead as opposed to demolishing the homes. I also agree with BK, that they could have donated them to habitat for humanity and used it as a write off. Apparently banking and common sense do not go hand-in-hand. Donated them for a write off, sold them at half price, hell...even sell them to another contractor or bank for 75% off, and they come in to salvage it. Then they wouldn't have had to pay to demolish it. Wonder what that same bank would do if people who were in foreclosure with them set their houses on fire because they were losing it? Isn't that the same mentality? If I can't have it, no one can.

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 7:31:32 PM)
There is nothing to elucidate: if you don't get it, it's your problem. I'm not going to babysit you through this. The McMansion is dead, and so is the Far West.

Sanity -> RE: Models homes being demolished by banks (5/6/2009 7:48:38 PM)
Didn't Jimmy Carter put on a sweater and declare something very similar to that once... quote: ORIGINAL: kittinSol There is nothing to elucidate: if you don't get it, it's your problem. I'm not going to babysit you through this. The McMansion is dead, and so is the Far West.

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 7:50:03 PM)
Sorry, but your claim that the "McMansion" (cutesy little term, there) and the "Far West" is dead, is a nonsensical and somewhat moot reply to my comment. What has that to do with calling for the legislation of where people can build homes? And what has it to do with my projecting your attitude to its extreme by hyperbole? Are you able to actually discuss the subject at hand, or will you continue to make cryptic one line comments?

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 7:50:13 PM)
No clue. I'm too young to know [8D] .

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 8:02:44 PM)
Oh, and by the way... Which is it? quote: ORIGINAL: kittinSol I hope the era of the selfish McMansion is over. Or... quote: ORIGINAL: kittinSol The McMansion is dead... Bit confused, maybe?

Sanity -> RE: Models homes being demolished by banks (5/6/2009 8:22:49 PM)
Well, a little ancient history history lesson for you then. He did. Nice guy, meant well, and I could see where he was coming from - he was just wrong about everything, that's all. quote: ORIGINAL: kittinSol No clue. I'm too young to know [8D] .

popeye1250 -> RE: Models homes being demolished by banks (5/6/2009 8:54:37 PM)
quote: ORIGINAL: TreasureKY Oh, and by the way... Which is it? quote: ORIGINAL: kittinSol I hope the era of the selfish McMansion is over. Or... quote: ORIGINAL: kittinSol The McMansion is dead... Bit confused, maybe? Treasure, I gave up trying to get a straight answer out of Kittin or slavemike about a month ago.

susie -> RE: Models homes being demolished by banks (5/6/2009 9:09:00 PM)
FR In the UK we have business rates which are paid on all commercial premises. The rates are due even on unoccupied premises. As there are a lot of empty premises at the moment due to business failing the owners of the premises are having to pay rates with no rental income. There have been a lot of cases where the owners have been demolishing their buildings to save them paying these rates.

Vendaval -> RE: Models homes being demolished by banks (5/6/2009 9:30:17 PM)
BK and sappa, you both hit the nail on the head. quote: ORIGINAL: sappatoti I agree BK. As I watched the story about how the banks would rather destroy those houses than donate them, either as residences for the homeless families or by dismantling them in such a fashion as to reuse those almost new materials, I was appalled at the lack of creativity in their solution.

DarkSteven -> RE: Models homes being demolished by banks (5/6/2009 9:43:20 PM)
quote: ORIGINAL: sappatoti What was surprising was that the development's on-site manager, who bought one of the units for the full price when they were new walked out on his existing mortgage and unit. He found someone else (though not explicitly mentioned in the story) to front him enough cash so he could be another unit at the auction for dirt cheap, and he's now living in the new unit. He's being foreclosed on his first unit, but he really doesn't care since the one he's currently residing in is free and clear. What's really surprising to me is that someone would front him cash so he could welch on an existing obligation. I mean, like, how could you find a less reputable person to lend to?

ThatDamnedPanda -> RE: Models homes being demolished by banks (5/6/2009 9:44:57 PM)
quote: ORIGINAL: DarkSteven quote: ORIGINAL: sappatoti What was surprising was that the development's on-site manager, who bought one of the units for the full price when they were new walked out on his existing mortgage and unit. He found someone else (though not explicitly mentioned in the story) to front him enough cash so he could be another unit at the auction for dirt cheap, and he's now living in the new unit. He's being foreclosed on his first unit, but he really doesn't care since the one he's currently residing in is free and clear. What's really surprising to me is that someone would front him cash so he could welch on an existing obligation. I mean, like, how could you find a less reputable person to lend to? Yeah, good point! It's like some perverted, reverse Ponzi scheme.

ienigma777 -> RE: Models homes being demolished by banks (5/9/2009 11:59:30 AM)
GEEZUS.....Can't any of you think.....It's about ...MONEY....that is it. The Banks, mortgage lenders, the Wall 'GREED Streeters..... MONEY. There is no housing crisis in America.....they demolish because of the Money, they won't make...write it as a revenue loss...and ask for 35 billion to stay in business. Real Life incident from an aquantance......the housing market drops, the couple go to buy a house, New it sold for $234,000...listed now for $130,000.....so, after seeing those.....'SHORT SALES' .... they decide to buy, sign the papers, the selling agent, when asked for a copy of the intent to buy...says it must be signed by the manager. # of days later, still no copy....after two weeks, the agent calls and says, the bank needs more money....how much more...only 7,000 more to secure the deal....and still no copy of the intent to purchase....okay; says the couple, the ammendment is forwarded and signed......two more weeks go by....nothing, then another call, ..... someone else is interested in the property, we'll need more money.......how much more......45,000 dollars will do the trick. Incidently, for all the time, at the orginal signing of intent to buy, and rendering earnest money.....no copy ever recieved, and the lending instituation was never presented with the offer. These people are making money, hand over fist with this manipulated crisis.......and don't forget the Bailout welfare.....they'll go belly up, if they don't get another 35 billion. Follow the MONEY, folks.

BKSir -> RE: Models homes being demolished by banks (5/9/2009 12:03:28 PM)
That's just it, we can think. They're paying to have these homes demolished, and using it as a write-off, when, they could donate them to habitat for humanity, or sell them at a lower cost, and use THOSE as write-offs also, as well as gaining positive P.R. for nothing. Positive P.R. = boost in public image = boost in sales. This gains them just the opposite.

samboct -> RE: Models homes being demolished by banks (5/9/2009 4:00:21 PM)
Well, it does strike me that the citizens should have some say in the matter. After all, at this point, we're major shareholders in a bunch of banks. Where does the bank get off destroying its property which effectively, we, the taxpayer have written them a check for? Isn't it ours? At least a piece of it? Seems to me this is the bank destroying its assets so it can more easily claim its in need of a bailout with nothing but debt on the books. Sam

pahunkboy -> RE: Models homes being demolished by banks (5/9/2009 4:38:38 PM)
oddly tho- an empty house is not insured for fire. Nor can you take out insurance on a house you do not own. So we have numerous empty houses... and I would guess- money to be made off of "fire"

LookieNoNookie -> RE: Models homes being demolished by banks (5/9/2009 5:16:33 PM)
quote: ORIGINAL: Louve00 I saw that on the news last night. What a huge waste! Complete insanity. The bank ran the numbers...it was cheaper to tear them down, than to put sheetrock and electrical in them. Get over it.

samboct -> RE: Models homes being demolished by banks (5/9/2009 8:02:45 PM)
"The bank ran the numbers...it was cheaper to tear them down, than to put sheetrock and electrical in them. Get over it." And these would be different banks than are howling for federal bail out money? The same banks that ran the numbers before making loans that aren't viable? That push the idea of a credit score being the only piece of information as to how to loan out their (now our) money? What I'm going to be really ticked about is if in a year- the banks go on with business as usual ignoring this disaster. Since the bankers are already going back to their old models of compensation, this looks like its happening. In short- no, we shouldn't deal with it- we should demand accountability and if somebody winds up in jail- good. There's no way these actions should be legal. Sam

LookieNoNookie -> RE: Models homes being demolished by banks (5/9/2009 8:57:26 PM)
quote: ORIGINAL: samboct "The bank ran the numbers...it was cheaper to tear them down, than to put sheetrock and electrical in them. Get over it." And these would be different banks than are howling for federal bail out money? I'm not sure. The same banks that ran the numbers before making loans that aren't viable? Could be. That push the idea of a credit score being the only piece of information as to how to loan out their (now our) money? Yeah..."ability to pay"....sure...a fairly common measure in banking.....one I'd actually recommend if one was loaning money....(just a thought). What I'm going to be really ticked about is if in a year- the banks go on with business as usual ignoring this disaster. Since the bankers are already going back to their old models of compensation, this looks like its happening. Well, it certainly could be....but those that took federal money have identified limits. In short- no, we shouldn't deal with it- we should demand accountability (we have that) and if somebody winds up in jail- good (several have) . There's no way these actions should be legal (what would those specific actions be?). Sam

blacksword404 -> RE: Models homes being demolished by banks (5/9/2009 9:56:38 PM)
quote: ORIGINAL: Louve00 quote: ORIGINAL: kittinSol On a tangent, it's got to be said that building in the desert... building out of the way... building in the middle of nowhere: ALL these should be abandoned. Today, it's insane to build far away from resources such as water and transport and to overextend natural resources. I hope the era of the selfish McMansion is over. I'll sooooo agree with you on that tangent (which doesn't discount the waste), and while we're talking about where to build...I've never figured out just what makes people build their houses along a beach. Like they do down here in Fla, in NC, and so many other places so vulnerable to hurricanes, erosion and what have you. I also can't figure out for the life of me, why they built a city in a fish bowl. New Orleans would be under water naturally, were it not for the dams and barriers keeping the water out. A great city...but a disaster waiting to happen, and has proven that once just recently. There really is no area in the country that does not have it's share of problems. The northeast had it's flood problems a few years ago. Here in Georgia we are having drought problems. The Midwest has been getting hit with the double curse of drought followed by flood. The st. louis area is due to be hit with an earthquake along the new madrid fault line. The west has it's droughts and fires.

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