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My job is to watch dreams die (2011)

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Re: My job is to watch dreams die (2011)

#51

Post by Enginerrrd »

bombcar wrote: post #12
DaiPlusPlus wrote: post #5

Earlier quoted context omitted.

> you probably would have had to completely ignore probably a dozen of these documents for at least 6 months, not paying your mortgage all along. Fun-fact: thems the benefits of being a mortgage holder. If you're a tenant that's renting, you get no such legal protections - let alone discretion from whichever faceless entity actually owns the property: where I am in King County WA, I think, at most you can get 30 days…

This is why the "if you have a loan you're just renting from the bank" people aren't right - sure, in a way it's true but there really IS a legal difference, and it DOES come into play when things go south.

Yeah and it goes both ways. When someone gets hurt in your front yard or something you're the one that's liable, not the bank.

Re: My job is to watch dreams die (2011)

#52

Post by Sohcahtoa82 »

silisili wrote: post #38
sandspar wrote: post #19

I've seen a few sides of money. Raised upper class, lost it all and became underclass, then made it back. I'm always amazed at how limited rich people's worldview is. The average software developer, coastal liberal etc. They've never felt terror, the visceral feeling of being terrified. They've never been predated upon. They've never been used and discarded. The underclass lives with this stuff every day, 24/7, and r…

I was just discussing this with a friend last week. In my case at least, it was too easy to forget. I grew up low end of middle class at best, and after high school was dirt poor. Getting overdrafts weekly, in that era where they reorder transactions to really turn the screws. Sleeping early because it's cheaper than eating. Working two jobs and still not getting ahead. The shame of having to ask to borrow a few buck…

> in that era where they reorder transactions to really turn the screws

I cannot come up with the words about how absolutely evil someone had to be to make transactions work that way.

How utterly fucked up and sociopathic do you have to be to steal money from the poor?

Re: My job is to watch dreams die (2011)

#53

Post by [deleted] »

Sohcahtoa82 wrote: post #47
istjohn wrote: post #22

Earlier quoted context omitted.

After Uvalde, that Texan braggadocio looks sillier than ever.

It's exceptionally rare for me to watch sports, but when I do (usually just because it's on a TV at a restaurant), I always root against Texas if they're playing, no matter who they're playing against, just because I think people from Texas need to be taken down a couple notches. Texas has the best BBQ in the country, I'll give them that, but everything else about their state pride is just weird to me. Especially the…

[deleted]

Re: My job is to watch dreams die (2011)

#54

Post by naming_the_user »

ToucanLoucan wrote: post #11
analyte123 wrote: post #4

During this same time period I had a project at a part-time gig which involved updating document templates and adding a few fields here and there for a legal application. The application was used by a law firm which specialized in mortgages. So I saw the details of various documents one is served in these situations: notice of default, acceleration notices, notice to vacate, and ultimately evictions and foreclosure a…

> For a guy like the one in the post to show up, you probably would have had to completely ignore probably a dozen of these documents for at least 6 months, not paying your mortgage all along. I find it interesting that in all of these discussions it's treated as known that the person at hand is ignoring the notices and just pretending they aren't in danger of losing their home, just like in issues of evictions for r…

I think it's a bit less dramatic than that really - most people accept that the world we live in has both rights and responsibilities.

One of those responsibilities is that by paying for the loans you take out, in exchange you get to keep the things that you've bought using them, permanently once you've paid it off.

I might, one day, be unable to pay my mortgage. That's a risk I'm taking.

People tend to get super emotional about this stuff but at the end of the day it's just business, you have lived somewhere else and you can live somewhere else again.

Re: My job is to watch dreams die (2011)

#55

Post by brigade »

bgnn wrote: post #29
DaiPlusPlus wrote: post #5

Earlier quoted context omitted.

> you probably would have had to completely ignore probably a dozen of these documents for at least 6 months, not paying your mortgage all along. Fun-fact: thems the benefits of being a mortgage holder. If you're a tenant that's renting, you get no such legal protections - let alone discretion from whichever faceless entity actually owns the property: where I am in King County WA, I think, at most you can get 30 days…

That sounds indeed not right. Here in the Netherlands the renters have the right, but mortgage holders do not. I was renting a place the owner had mortgage. For some reason the bank wanted to sale the place but couldn't evict me. Since this was the owners fault the bank's lawyers helped me to get like 6 months of rent back to agree to leave. The bank even offered me to buy the place, which in the hindsight, I should…

I don’t think it’s obviously “wrong” that renters don’t automatically get the right to occupy a property indefinitely once they move in, but rather only have that right for an agreed-upon term. Or that the owner has the right to decline to renew a lease after said term with a notice period (well maybe the standard 30 or 60 days notice is a little short…)

The “3-day eviction” is that if you break the law in specific ways, the landlord can immediately terminate the lease and start court proceedings with 3 days notice. It still takes months for the eviction to grind through the courts just like it would in the Netherlands.

Re: My job is to watch dreams die (2011)

#57

Post by klyrs »

Sohcahtoa82 wrote: post #52
silisili wrote: post #38

Earlier quoted context omitted.

I was just discussing this with a friend last week. In my case at least, it was too easy to forget. I grew up low end of middle class at best, and after high school was dirt poor. Getting overdrafts weekly, in that era where they reorder transactions to really turn the screws. Sleeping early because it's cheaper than eating. Working two jobs and still not getting ahead. The shame of having to ask to borrow a few buck…

> in that era where they reorder transactions to really turn the screws I cannot come up with the words about how absolutely evil someone had to be to make transactions work that way. How utterly fucked up and sociopathic do you have to be to steal money from the poor?

[flagged]

Re: My job is to watch dreams die (2011)

#58

Post by ThunderSizzle »

optimalsolver wrote: post #30
istjohn wrote: post #22

Earlier quoted context omitted.

After Uvalde, that Texan braggadocio looks sillier than ever.

Don't mess with Texas (unless you have a gun).

Don't mess with Texan citizens.

Feel free to make a fool out of Texan police officers.

Re: My job is to watch dreams die (2011)

#59

Post by Sohcahtoa82 »

santoshalper wrote: post #13

I have spent about 20 years in the mortgage and housing industry, a decent amount of that in servicing and default. I have seen some shady shit including borrowers who committed mortgage fraud and lenders who made loans they knew would ultimately blow up in someone's face (not theirs!). That said, 99% of defaults are very simple: At the time of the loan, the borrower could afford to make the mortgage payment. Later d…

Maybe you have some insight over something that's always confused me.

During the 2008 crash, I heard of a lot of people seeing their home value plummet, end up underwater on their mortgage, and decide to just abandon it. I've never understood why someone would do that, rather than ride it out and keep paying while the value recovers?

I could MAYBE understand going "Nope, I'm out" if you had an adjustable-rate mortgage and your rate skyrocketed and now you can't afford the payments, but every housing bubble pop is temporary.

But like...I see my mortgage payment as more than just a payment on a loan, it's simply the cost of having a roof over my head. Whether I'm paying $2,000 to the bank, or $2,000 to some landlord (Really, I'd be looking at $2,800/month for a house like what I have now), I'm paying $2k/month. So why not just keep paying my mortgage, even if the value is less than what I paid?

Re: My job is to watch dreams die (2011)

#60

Post by naming_the_user »

sandspar wrote: post #19

I've seen a few sides of money. Raised upper class, lost it all and became underclass, then made it back. I'm always amazed at how limited rich people's worldview is. The average software developer, coastal liberal etc. They've never felt terror, the visceral feeling of being terrified. They've never been predated upon. They've never been used and discarded. The underclass lives with this stuff every day, 24/7, and r…

I think that you're mixing up a few things here to be honest.

I grew up poor and I don't have the faintest clue what you're talking about. Terror? Predation? Being used and discarded? No, we just didn't have that much money, every penny had to be counted, our horizons were quite low, we lived in cheap areas.

Now, if we talk about things like bad parenting / broken families, dodgy immigration status, etc, I think I can understand what you're talking about. But that's a whole different (and much more complicated) issue.

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