Bank of America, along with all the other banks are pushing our courts to throw America taxpayers out into the street…why? Part of the reason is they want to collect the easy money they get from the federal government….(that’s you and me the taxpayer by the way) another part of the reason is they want to sit on the homes and leave them dilapidating into states of disrepair.
An elderly couple, who worked their entire lives and who operated a small machine shop, were chased out of this perfectly fine home about three years ago.
The home has sat vacant and abandoned, with no power on for years. The attorneys handling the foreclosure had no authorization to entertain any purchase price…not any price…and when the home finally went up for foreclosure auction six months ago, Bank of America would only accept the full judgment price….nearly $200,000. Cash buyers were prepared to pay the fair market value for the home, but the bank would not accept any price….instead they let it conclude with a foreclosure sale.
I keep watching it, wondering when a realtor might put a sign in the yard, wondering when some family might move in, but six months later and there’s not even a sign.
And so the home just sits, untold tens of thousands more, vacant and abandoned, rotting away more and more each day.
Oh sure, a property preservation company comes by every two weeks. They pull a neat trick where they mow one strip of the grass so they can take the picture, submit that to Bank of America who in turn bills Fannie Mae for mowing the entire yard. (Incidentally, that’s you and I paying to cut an entire yard when in fact only a few fraudulent strips of grass are snipped.)
This is what your country has become. We use state and federal taxpayer dollars to throw the poor and old people out into the streets so that the banks can collect still more federal dollars when they have them thrown out onto the streets. Then we pay the banks and their property preservation companies to not do the maintenance work.
At some point in time, one of the maintenance companies will get around to submitting all kinds of false bids to do construction work that is not required, but they will contract for that work and they might actually do that work. They won’t be licensed and all of that are criminal violations, but no one cares to hold anyone accountable for that either….
No one is in jail and no one cares to do anything at all about this.
And the elderly couple that left in shame? Well, they are devastated, destroyed, beaten down and embarrassed. We did this to them. We destroyed this couple.
Every single one of us played our part.
Let’s all thank ourselves for the part we each played in their destruction.
I’ve learned new things through your blog post. Also a thing to I have discovered is that generally, FSBO sellers will certainly reject you. Remember, they might prefer never to use your providers. But if you actually maintain a comfortable, professional relationship, offering guide and remaining in contact for about four to five weeks, you will usually have the ability to win an interview. From there, a house listing follows. Thanks a lot
Doesn’t quite make sense, since they still have to pay property taxes on it. If the do no perform basic maintaince (on the outside) they can get fined by the local gov’t.
The only reason why I can think of that they would not sell is if they don’t own the mortgage of the property and the owner is a GSE that is ignoring it or is being lied to. The bank can collect servicing fees for paying the taxes, upkeep, etc. It wouldn’t suprise me that the GSE getting conned, by getting charged for upkeep, taxes and listing the property, but none of those things are being done. Bank pockets the upkeep realitor listing fees.