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Couple Lives In $1.3 Million, 4,900 Square Foot Home For Five Years Without Making A Single Mortgage Payment
Wonder how Americans can afford to buy millions of iGadgets, a second LCD TV for the shoe closet, and eat at restaurants more than almost any time in the past despite sliding personal income? Simple - increasingly fewer pay the biggest staple bill in a US household: their mortgage. The following story of Keith And Janet Ritter, who have lived in their Fort Washington, MD $1.29MM, 4,900 square foot McMansion for 5 years (which they purchase with no money down) without ever making a single mortgage payment, and who are not even close to being evicted, may explain much about the way US society currently operates, and why other perfectly responsible and hard-working taxpayers (who do have to pay for their mortgage) continue to fund tens of billions in Fannie and Freddie losses who are first on the hook to absorb the implicit losses by allowing families such as the Ritters to live in perpetuity without paying, and the banks to keep said mortgage on the books at par without any impairments.
The Washington Post has more on this absolute horror story of a case study of just how busted the USSA has become:
The eviction from their million-dollar home could come at any moment. Keith and Janet Ritter have been bracing for it — and battling against it — almost from the moment they moved into the five-bedroom, 4,900-square-foot manse along the Potomac River in Fort Washington.
In five years, they have never made a mortgage payment, a fact that amazes even the most seasoned veterans of the foreclosure crisis.
The Ritters have kept the sheriff at bay by repeatedly filing for bankruptcy and by exploiting changes in Maryland’s laws designed to help delinquent homeowners avoid foreclosure.
Those efforts to protect homeowners have transformed Maryland’s foreclosure process from one of the country’s shortest to one of the longest. It now takes on average 634 days to complete a foreclosure in Maryland, compared with 132 days in Virginia.
“The market won’t fix itself,” said Anne Norton, Maryland’s deputy commissioner for financial regulations. “By the time it does, how many homeowners will be churned up and spit out by the machine?”
Critics, including economists and lenders, blame the state’s go-slow approach for a growing backlog of foreclosures and a weak-to-nonexistent recovery in home prices. To them, the system puts too much emphasis on helping individual homeowners and not enough on quickly clearing the market of foreclosures so prices can rebound and hard-hit communities can recover. And they say it also creates opportunities for abuse by those determined to drag the process out for as long as possible.
“How is it people can stay in a house for five years without ever making a mortgage payment?” said Thomas A. Lawler, a former senior vice president at Fannie Mae who now runs his own consulting firm in Loudoun County. “That’s a screwed-up process. It’s an example of how the process is broken.”
The Ritters, who bought their house for $1.29 million with almost no money down, are hardly representative of the vast majority of Maryland’s distressed homeowners.
During the boom, they set out to become mini real estate moguls, buying properties and flipping them for a profit. In the process, Keith Ritter, 54, went from being on probation for bankruptcy fraud and making minimum wage to being a successful real estate investor and landlord with a six-figure income. Then, when the housing market tanked five years ago, the couple found themselves facing multiple foreclosures.
The Ritters have tried to negotiate different payment arrangements with their lender to save their posh home near National Harbor, they said, but to no avail.
“It was never our intention to get here and never make a mortgage payment,” Keith Ritter said. “We don’t believe in living for free.”
But he and Janet, a 51-year-old real estate agent, make no apology for using every tactic available to them to stay in their house, including challenging the foreclosure sale in court, requesting mediation and claiming they had a tenant living with them. Their adversaries, they argued, are giant financial institutions with armies of lawyers that are out to make as much money as possible at the expense of homeowners.
“When a bank does all it can to save itself, that’s good business,” Keith said. “When a homeowner does the same thing, he’s called a deadbeat.”
And that, ladies and gents, is why this country is fucked.
Meet the Ritters:
"Keith and Janet Ritter inside their home in Fort Washington, Md. In five years, they have never made a mortgage payment, a fact that amazes even the most seasoned veterans of the foreclosure crisis."
"Janet Ritter in the dining area of their Fort Washington home. The
Ritters make no apology for using every tactic available to them to stay
in their house, including challenging the foreclosure sale in court and
requesting mediation."
"Keith Ritter has a business, Beat It Movers, that involves eviction services, property preservation and cleaning of foreclosed homes. Here, he checks out some ceiling damage in one such home in Fort Washington. Ritter gets the irony of working for some of the same banks that have foreclosed on him. But he has to make money somehow. “All I know is real estate,” he said."
Casa de Ritter:
"The Ritter's Fort Washington home. They have kept their home for so long by repeatedly filing for bankruptcy and by exploiting changes in Maryland’s laws designed to help delinquent homeowners avoid foreclosure."
"Interior of Keith and Janet Ritter's Fort Washington home. Efforts to protect homeowners have transformed Maryland’s foreclosure process from one of the country’s shortest to one of the longest. It now takes on average 634 days to complete a foreclosure in Maryland, compared with 132 days in Virginia"
And when all else fails, beg god for debt forgiveness: "Bible verses are marked that pertain to debt and forgiveness on a table in the Ritters’ home in Fort Washington."
Then again, who needs god when you have hope and change... for some.
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Yeth, I too am a graduate of the Velvet Jones School of Real Estate.......
ugh! I'm sick of all the O ads on this site. I come here for truth, justice and the real American way. not to see bleached white teeth and open collar shirts. enough!
Than i suggest you change your google search history.
#adsense
Disable flash. Or, better, install adblockplus in Mozilla Firefox.
Ads? On the internet? I haven't seen such a thing in years, maybe a decade.
I guess that means I'm Pirating ZeroHedge...and the rest of the web. Lulz.
Squattin' in America...
Do the Ritters have SNAP cards too?
I think that I'll get an extreme spray tan so that I too can profit from the Obama money machine. BTW, in the picture of the husband, did anyone notice the resemblance to Flavor Flav?!
here's their address, just in case anyone is inclined to send them a Jesus-loves-you card;
Keith A Ritter, 8212 Cagle Rd., Fort Washington, MD 20744-5507
Nope...
http://sdatcert3.resiusa.org/rp_rewrite/details.aspx?County=17&SearchType=STREET&AccountNumber=12%201349646
Wrong they did not pay 35K for it and it is not 1200 sq. ft....
That's why I said 'Nope' ya dope ;) Original article also says they live on Riverview so this is probably one of their rentals...
Oop's, I'm a dope, don't hit me with the soap on a rope, thought you meant you had the right one..
That lady looks familiar....
http://youtu.be/P36x8rTb3jI
I suggest all big banks go under and all the mortgages of these banks disappear and are forgiven. *includes Fannie mortgages.
That should kick the housing market in the butt.
So these motherfuckers get a free house? Where's my free house?
Well not everybody can get a free house... life is not fair dude, get on with it.
1.3M loan, 650k home value = bank doesn't want to mark down the asset
Gives new meaning to "Beltway Bandits"
As much as this pisses me off, I just can't decide if the banks hiring this guy to clean out homes he once "owned" is any worse than the government hiring MF Global people to help sort out their trail of lewt.
Did I miss more good news? The Dow is heading towards a positive finsih after being down -80 points earlier.
"Investors" must have picked up on this story about the lovely couple from Fort Washington.
that near $1Trill of newly "minted" Euro blow has to go somewhere.
I haven't learned much in life, but one thing I have learned is that when someone starts spouting off about God, watch out for your wallet.
"I can do all things through Obama for he strengthens me."
eKEITHans 1.3
Strip all the copper out that mutha fucka and tell the bank to suck your cock! America, thats the way we doooz it!!!!
I love Amerikkka.
Fuck them, and the bank they rode in on.
can someone down there spraycan this on their garage?
Q: What is the difference between communism and capitalism?
A: Under communism first private property is confiscated and then the economy is ruined. Under capitalism, it's exactly the opposite.
*Fascism
God damnit I hate it when people conflate those two.
I could fill the entire page with residences here in Northern Cailfornia that fall into the same category.. The shadow inventory is one of the biggest lies they are hiding right now. If the banks were forced to foreclose on people like these they would be insolvent overnight. They have created an enviornment in which being a squatter is exceptable in fact they encourage it to extend and pretend as long as possible. The house of cards is crumbling, they have run out of can to kick, it's only a matter of time now before this comes completely unraveled and when it does...Look out below.
Problem is you have to live in a shithole where they cannot quickly resell it.. I quit making paymnts the Sheriff will be here in two months on a no knock get the hell out and it will sell in two weeks..
I saw a special on CA multi-million dollar homes a couple weeks ago. The folks were normal, very friendly. They were having parties, grilling, gardening, laying in the sun, shopping and generally, enjoying the good life (on the public dime, mind you, since public funds will eventually kick in). Some admitted they could pay but, you know, "what's the use? We're so far behind I just try not to think about it." They are not even ashamed!
40 acres and a McMansion?
Squatting your own house. That's novel.
I see what you did there!
They need to wreite a book on how to take advantage of the system. Banks utilized fraud with robo-signing, People have wised-up and are using some of the same Wall Street's tactics.
The victims are usually the small guys. How many Wall Street banksters are in jail for their fraudulent activities?
Yea real victims lost nothing but got the use of a 5000sq ft home for years on end.
Whine up a storm.
The Bible verse thing is indescribably offensive to me (and I suspect others who trust in Scripture). That they would take the Parable of the Unmerciful Servant out of context as justification of forgiveness of debts is nothing short of apostasy. Here is the full text, with the important part of the lesson bolded (Matthew 18, NIV):
23 “Therefore, the kingdom of heaven is like a king who wanted to settle accounts with his servants. 24 As he began the settlement, a man who owed him ten thousand bags of gold[h] was brought to him. 25 Since he was not able to pay, the master ordered that he and his wife and his children and all that he had be sold to repay the debt. 26 “At this the servant fell on his knees before him. ‘Be patient with me,’ he begged, ‘and I will pay back everything.’ 27 The servant’s master took pity on him, canceled the debt and let him go.
28 “But when that servant went out, he found one of his fellow servants who owed him a hundred silver coins.[i] He grabbed him and began to choke him. ‘Pay back what you owe me!’ he demanded. 29 “His fellow servant fell to his knees and begged him, ‘Be patient with me, and I will pay it back.’ 30 “But he refused. Instead, he went off and had the man thrown into prison until he could pay the debt. 31 When the other servants saw what had happened, they were outraged and went and told their master everything that had happened.
32 “Then the master called the servant in. ‘You wicked servant,’ he said, ‘I canceled all that debt of yours because you begged me to. 33 Shouldn’t you have had mercy on your fellow servant just as I had on you?’ 34 In anger his master handed him over to the jailers to be tortured, until he should pay back all he owed. 35 “This is how my heavenly Father will treat each of you unless you forgive your brother or sister from your heart.”
Proverbs 22:7
The rich rules over the poor, and the borrower is the slave of the lender.
Colossians 3:22
Slaves should obey their master.
Ephesians 6:5
Slaves, obey your earthly masters with respect and fear, and with sincerity of heart, just as you would obey Christ.
Well, it worked for centuries.
Centuries of oppression by the ruling elite over the masses. Justified by a self serving church and their interpretation of historical texts. All texts gathered in one book over time and made to fit.
Jesus was real then but he would not stand a chance today. Not if but when he comes back. He better be well prepapred and speak Goldmanese, Bloombergese and American Idolese.
He will wield a whip once again against the money changers.
That passage about Jesus cleansing the temple is my favorite by far. It just expresses WWJD perfectly in our financially perverted world.
Since He has already demonstrated that He can:
Raise the dead.
Walk on water.
Heal disease (Leapers.)
Give sight to the blind.
Truncate the time-space continuum.
Feed the masses....
Goldman, JPM, WF, Bloomberg will quickly be rendered meaningless. (Not to mention Lilly, Pfizer, Merck, UH, BCBH, DE, MON, POT...)
Everybody loves the tiger lillies ragtime band,
I'm crucifying Jesus, banging in the nails,
And I am so happy, because old Jesus failed.
I'm crucifying Jesus, nail him to the cross,
The poor old bastard bleeds to death and I don't give a toss.
I'm crucifying Jesus, in my piss he bathes.
I think I am a pervert, I think I am depraved
I'm crucifying Jesus, beat him to a pulp,
I stick my organ in his mouth and on it he must gulp.
Gimme that old time religion..............
All out of context.
Proverbs 22 starts out with
A good name is more desirable than great riches; to be esteemed is better than silver or gold. Rich and poor have this in common: the Lord is the Maker of them all.
The paragraph containing Colossians 3:22 ends with
Anyone who does wrong will be repaid for his wrong, and there is no favoritism.
And Ephesians 6:9 completes the thought in verse 5:
And masters, treat your slaves in the same way. Do not threaten them, since you know that he is both their Master and yours in heaven, and there is no favoritism.
"Slave" in this context is more akin to "employee".
Apostasy is the spreading of false doctrine. It is often exhibited by former believers who have fallen away from the Word.
"Slave" in this context is more akin to "employee"
Views like that are the reason we are in this mess.
Apparently, you're not familiar with how words translate from ancient Hebrew and Greek. That's all that I was pointing out, Sir.
I am not.
I would have had to go to university to learn that stuff.
To be fair i looked up the twenty different bible versions of that line and quoted the one i felt appropriate.
Apostasy?
Is that like saying that Gandalf didnt rise from the dead on the fthird day after his crucifixion?
It's saying that taking Scripture out of context is one of the ways that what the Bible actually says is distorted, which is impedes people from gaining a fuller perspective on it.
Even if you try really, really hard, I won't take your bait.
There you go being all rational, no wait......
Seriously tho, read some books other than the bible, its amazing whats out there.
Then why are you making laws based on scripture?
Cezars tings and all dat?
I'm a big fan of John Locke, Michael Lewis, and Vince Flynn. Ever heard of either of 'em?
I've also got 3 books out there of my own. I hope you enjoyed them.
Locke yes, micheal and flynn no,
Whats the best primer (first book to read) for reading Locke?
Micheal lewis looks a bit too technical for me which is his easiest to read book for starter's?
While i am sure flynns books are good, i no longer read fiction, except HP locvecraft of course:-)
Oh that is so cute, if you have read the bible you read nothing else, ha. Here is another one, people who own gold don't own guns so you can just go over and take it. No worries I will turn the other cheek because the bible tells us not to kill, right?
That was fun, here is another from John 8: 44-48 "Why is my language unclear to you? Because you are unable to hear what I say." You may wish to peruse the rest after your exhaustive reading schedule you will find it enlightening regarding your inability to hear.
I started to read your response and then saw you quoted the bible.
Never mind, thanks for playing.
You will discover free will can be a double edged mothafucka..
I do not feel that religion has any relevance any more, it only works on people who are ignorant and secular societies have educated too many generations, thats why its highest in places with the lowest literacy rates.
I do not need the stick of hell or the carrot of heaven to be a decent human being and honest in my relations with others.
Why do you need to be told to be decent by a 2000 year old book, can you not work it out for yourself, did your parents not impart their values to you?
If you want to speak to me, step away from the mirror first.
LOL!
Do you charge by the hour and can i get therapy free funder obamacare?
How sad the darkness you live in. "If anyone is thirsty let him come to me and drink" I hope you one day get thirsty for truth.
I believe he is seeking truth. Perhaps looking for an explanation to something that went off the rails for him some time in his past, or something irreconcilable in the theology he's been told. But at least he is still challenging his own thinking. Heaven rejoices for the one lost sheep who is found! We are hopeful.
I had hoped i was helping to heal the people who hear voices, guess youtwo are doing the same kinda thing.
Ill go ahead and say it even tho it'll get me in the shit.
Religion is a mental illness based on the fear of death.
If you are scared of death, face it, accept it, dont use fairy tales to reassure yourself that your existence will continue after death.
It wont, we die and all that is left is the memory of us in others minds.
If you two can understand that reality, then life has purpose and meaning far beyond your meaningless subservient rituals.
30:love, Your serve
Yo dawg, I herd you like religious wars, so I made 13459 different versions of the "unaltered" Word of God in dozens of different languages with zero editorial control.
Enjoy the next 4000 years, retards.
-God.
tmosley, Why do persons that hate God feel it necessary to comment on a religious theme. You have done this many times. Are you trying to minimize God in order to avoid your coming punishment? There is no such thing as a sane athiest. You will repent and live or die crazy in defiance.
Actually it feels good to understand the world the way it really is and to be free from silly superstitions of a skywizard.
Religion is a form of social control propogated by the oligarchs, past and present.
You my good man are a suckah.
It is not possible to understand the world "the way it really is" without running into questions that cannot be answered by application of the five senses. A true inquiry into the way the world "really is" yields observations wholly consistent with Scripture. But it takes rigor and a true thirst to cut through the superficial stuff and get to the real issues.
What, so you are saying that there AREN'T an uncountable number of different versions of the Bible that were put together by human beings with personal biases? Are you saying that the translations between different languages of the LITERAL WORD OF GOD was always and every time totally perfect, in the face of numerous errors and mistranslations, many of which resulted in mass murder (ie the translation that read "thou shalt not suffer a witch to live" instead of the correct "thou shalt not suffer a poisoner to live" translation).
In any event, you're nuts. And your God is tiny and petty if he would provide no solid evidence of his existance, and tell us that he exists only through the utter fucking MESS that is the 83745 versions of the Bible and associated religious nutbaggery, and PUNISH people for not believing in him, or worse, being born into the "right" version of the "correct" faith.
Fuck that shit. Imma worship Odin. At least he got rid of the frost giants.
tmosley, You must walk around blindfolded! I see solid evidence everyday that He exists. Who design the intricacy of the difficult process of photosynthesis? How about your DNA and cellular structure. The inticate and complicated nerve system that runs through your body? I guess that was just chance? No matter how many times I throw brown and green paint against the wall I still get a brown and green blob it never seems to form in the shape of tree with branches and leaves!
YOu obvioulsy have a poor understanding of theology and I'm sorry you've been taught that God is vindictive and that he goes around punish people for not believing in him.
If you wished to have a philosophical argument then you can never prove that God does not exist.
I believe it takes more faith to believe that he doesn't exist......I think it is a giant leap of faith to think that all that complex scientific truths and chemical equations came out of chaos out of nothing. Matter and the intricacies of our environment the complexities of the living beings and their interelation just happened?.......wow what faith aetheist have..........if only more God believing people had such faith!!!
I consider myself agnostic. My personal interpretation is that whatever God may exist does so from beyond this universe. The universe was created and from that point forward is on its' own. This God thing is not up there picking winners and losers or answering prayers for next weeks lottery pick. Once it's set in motion it can't be touched or it will become undone.
I woundn't be very surprised if they found life on Europa. Earth isn't a rediculously tiny oasis of life. The universe is literally crawling with it in all likelyhood.
I once dreamt I won the lottery but when I awoke I realized that the winning ticket consisted of &$@/^%. I think there was a Jupiter symbol thrown in for good measure. Shit I thought.
I don't think you would find very many with a deep faith and conviction in God that believes he is picking winners and losers and answering lottery prayers....that in my opinion would be a false concept
I'll help you out brother. Think bigger.
http://www.youtube.com/watch?v=wupToqz1e2g
Carl Sagan: Pale Blue Dot
If God is real, then why can't my body produce vitamin C? What, did that asshole just say "hey, I'll cover 2/3rds of the world with water so my children can get scurvy while exploring the world I gave them"? All other animals, except guinea pigs, can produce vitamin C.
Your god is a total prick. Unless he's "testing us". And the guinea pigs.
None of the processes you described came about by chance. They were inevitable, given enough time and the right conditions, which aren't as rare as people seem to think.
If you want to throw paint against a wall, go ahead. A simple fractal equation will produce something that looks remarkably like a tree, or just about any other living thing you want. Self-reinforcing processes are bound to arise given a long enough timeline, and once they do, the self-replicating behavior that they exhibit will continue for a long, long time, even if it does *GASP* slowly change over time.
I can't prove that God doesn't exist. I can't prove that God doesn't want me to slaughter children in the streets with a chainsaw either. Some invisible being that doesn't care to communicate could want ANYTHING, so until he shows up and tells me what he wants, and DEMONSTRATES to me that he isn't some evil being from an advanced civilization, you can take your old books and shove em. Imma go worship Thor, because that's just awesome.
What I never quite understood about this contract is the lack of the right to choose.
That if I'm not good I forever fry in hell? I didn't sign on to this. Eternity?
No sane person would want to live forever.
I give you a jumped shark.
God wants you to STFU. He just spoke to me and said "Me fucking DAMN, that dude is an IDIOT"
Put up all of Colossians 3 and all of Ephesians 6 and let's lookat in it's historical context and then we can have a discussion.
Of course, this is how we got close 20,000 Christian Denominations via sola scriptura and extrapolating it to fit our needs.
+144,000 and a multitude that no one could count.
+1 for your research and passion (no endorsement on my part however)
The passage you cite describes that the servant wronged lower class servants by insisting they pay him back when the head-servants master had forgiven him.
Ritters haven't wronged anyone lower than themselves. Their debt hasn't been forgiven either. They are just not paying because they are legally not obligated to pay.
Very different context.
FYI Ritters should stop reading the bible alltogether. They likely wouldn't recognize Jesus if he showed up at their fancy McMansion door step.
The problem arises in thinking that one owns something without any productive effort. Only through circumstance and evasion... gaming the system per se. That is where opportunistic behavior creeps into the equation. This is where prudent pays for recklessness. Else we all ought to go out and find the nearest house better than our own, kick in the front door, change the locks, and go squatter.
I have no remorse for the banks here. But, I also know that if financial foolishness is rewarded somehow, the soul of this country will be pronounced dead.
Edit: funny that an ad on this site a minute ago was about 3% down loans. Wow.
Let's agree that this will end badly.
Enjoy while it lasts for the days are numbered. Don't need to be a biblical scholar to prove that humans have a tendency to self destruct as opposed to working collectively towards a better standard of living for all.
After all, it is human nature to be greedy, judgemental and self serving.
Peace.
Don't need to be a biblical scholar to prove that humans have a tendency to self destruct
Agreed, but using the Bible as a crutch to justify what their doing is my issue.
That pretty much sums it up for me as well. It really all does just boil down to this.
Going to enjoy the wonderful food supply while it lasts. I see lots of rice and beans in my future.
Peace to you as well Walkure.
from Kenya squatters get a 1.7mm loan on their house with nothing down and no payments.
after they use it, make it a museum where people come to see em.
after they lose it (election), move back in and claim a tax writeoff.
all on George Soros debit card, not like real money.
maybe ginormous ass can get her law degree back.
fraudasoarus goes back to teaching Alinski to future mobsters.
recreation in the bath house, Dead Fish there to snap the towels.
speaking engagement paybacks from "friends of fraudster bailout program"
cover the house with solar panels
two (2) Chevy Volts in driveway. on and on.
There is another point to make here.
These people are gaming the system.
However you who are dutifully paying are going to be in for a
big surprise.
YOU WILL NEVER GET TITLE.
You are paying rent.
Check it out at livinglies/webblog and see who's the sucker !
Don't look at me, I'm not funding this. Only a fool would give the feds their money to pay back the debt.
This is Bens deal.
"It is cheaper than a pack of camels for a poor man to swindle and live in his kingdom with sod."
eKEITHans 1.3
Stop the BS Winston. This is why nobody liked you. House prices are plunging anyway, so hard to scare the masses now, isn't it. My favorite Churchill: "Mr. Churchill, you're fly is open!" Churchill stated, "Don't worry me boy, a dead bird never flys far from its nest!"
Ignorance must be bliss.
Good for them.
“The market won’t fix itself,” said Anne Norton, Maryland’s deputy commissioner for financial regulations. “By the time it does, how many homeowners will be churned up and spit out by the machine?”
I live in Baltimore and this statement pisses me off more than anything. These fuckers just don't realize that the market WILL CLEAR for this stuff. It's assholes like Anne Norton that fester all throughout Maryland that won't let the process actually work. Half the city of Baltimore is a vacant rowhome and yet I pay city(!) income taxes to build roads for people to conveniently commute in from the county. It's not worth it if you're young and educated.
At least I get to watch the O's and Ravens in my taxpayer funded stadia!
how can i vote for obama 3 times?
somebody must know.
You already have...and so did your dead great grandmother.
how can i vote for obama 3 times?
touch the RON PAUL button on the DIEBOLD machine... Voila! 3 votes for Obama...
Bank=crooks but say they are not
Government=crooks but say they are not
Sheeple=crooks and say they are not
Why would we expect any other result?!
Wow. Notice how the deputy commissar for "financial regulations" paints these people as the victim----"oooh, the eeeevil "machine" chews them up and spits them out...."
Fuck that, nobody put a gun to their heads and told them to borrow money on the cheap. Asshats.
And oh, they wanted to be real estate moguls, flipping real estate etc. etc. Fucking idiots. Serves them right. Looks like they were just a bunch of lazy ass grifters looking to get a quick buck. I guess the Don Lapre "Make Money Placing Classifed Ads" seminar wasn't working out.
There was once such an idea in this country as personal responsibility, thrift, hell---even just having a shred of common sense about things you get yourself into---that are all but gone in this once-great Republic of ours.
Fuck these people. All of them...
Obama's America!
Yes, the banks made shitty moves, at the same time no one forced these people into subprime loans to purchase their mcmansions and live beyond their means. Obama places blame on the banks and wall street..etc. He will never admit it was also the government and these idiots getting into these loans. I am sick and tired of doing the right thing, living within my means, while my money bails out these parasites and the banks.
The way property taxes are going up you never really own the property anyway these days. Even if you pay off the mortgage your leasing it at a high cost from the county. Burn all the houses down and live in trailers. People with houses have become slaves for the public sector and taxing authorities.
Hunh? My property tax is around 1%. I can handle that since the house is paid off.
I want to do that too. But my brain doesn't allow me.
THis sort of story has been eating at me for awhile now. Im seriously considering orchestrating a massive bankruptcy of my own just to feel like im not the idiot in the room!
I am, at the very least, going to run up 50K+ in credit card debt and refuse to pay. Soon.
Fraud is America's Fuki disaster......
Widespread Fraud in America is now eating the people as they slowly rot away just like the Fuki radiation is eating the japanese people...
There is nothing the Japanese can do about heir radiotna poroblem as it seeps into their plants, anmimals and souls....
I hope Americans can cure its massive fraud which has seeped into every corner----Wall Street, DC, every city....even every block it seems from reading this article....
When a bank does all it can to save itself, that’s good business,” Keith said. “When a homeowner does the same thing, he’s called a deadbeat.” And that, ladies and gents, is why this country is fucked.
I think what they are doing is par for the course. I would rather say it's "great," or I "agree" with what they are doing. But, my 78 year old dad might find out...
I think most of us were taught, I by my dad, that the way we pay our debts is our mark. In other words, the way you keep your promises (debt payments) is your bond of the kind of person you are. A good credit rating was the way we tracked such things. Our family had this pounded into our heads. We all bought it.
But, look how things have changed in this country in just a couple of generations: Besides being told to pay our debts by parents, we also were told that if we worked hard we would be successful. We were told that our country, America, would provide us with opportunity. We were told that owning a home was a good thing, and the value of our home would continue to increase-that owning a home was a good investment. My how we were told alot!
Working hard in America no longer guarantees success. Whether working hard in school and getting a degree; or, working hard at a job/business. The reason? Because our country has massively exported its jobs-opportunity-to low wage countries around the world. The economic crash and resulting slow to non-existent recovery have showed that both of these to be true.
So when someone works hard, plays by the rules, and cannot achieve success because opportunity has been exported, should they continue to play by the rules? I think not.
My own view on this changed very recently. Up until recently, I felt as my dad does, that the way you pay your debts is your mark. Of course, that was before the value of my house dropped 75% since 2008. That was before I watched the banks being bailed out and refuse to give struggling homeowners help initially-even after the Federal programs were created. Then, l had to deal with the bank who held my mortgage, and I found out how unreasonable they could be despite having violated different State and Federal laws themselves in my case.
It's "game on" people. The banks have screwed us and are continuing to screw us. My dad's teaching of paying your debts was just another form of control perpetuated down the ages. It's like in the Bible where it says, "the meek shall inherit the earth." Why would it say that? Could it be that someone didn't want those poor, meek people (serfs) uprising against the tyranny their masters (lords) were perpetuating against them? I don't know, but I sure wonder now. Speaking from my perspective, and of others I know facing similar circumstances, Americans are reevaluating what is right and wrong when it comes to sticking it out and paying on underwater mortgages. It would be one thing if the country still had a huge amount of opportunity, but that is no longer the case. This is a reset, and it will get uglier than it currently is. My take, for what it is worth.
Well said +1
i'll add too that when your grandfather was a young man, his father likely taught him what he tried to pass on to you.. this is because there was a time when a debt that was taken out could be paid back with the assurance that the money he was earning and saving in would hold it's value. Fast forward to present-day where costs continue to rise and inflation continues to punish savers and eat away at their savings. So as cost of living goes up and up and up, and the purchase power of savings and earnings goes lower and lower and lower, debts become more and more unsustainable.
You're right, game is ON. and those who want to have a chance at faring well at the end of this reset need to start today (yesteday, really) and put all of your resources into yourself and those you care about, and do so at the expense of the banks. Stop paying your mortgage if doing so prevents you from accumulating means of production and real savings
and in Grandpa's day there was no MERS system to fuck up titles to 62 million properties.
you're not allowed to get ahead via hard work in America. Here's a personal story. I polish a chair with my ass 4 days a week, arranging 1's and 0's to make magic boxes work. Over the past 6 summers, a buddy of mine and I have been doing roofing on the side. Hard work, but we do a good job and we don't fuck over people and end up saving them money. Because we skip all the bullshit and just put the god damn roof on and everyone is happy.
This past year, we looked at going legit and running a small crew on the side. After all the process and paperwork bullshit, workmans comp, rending of cloth and plucking beards and giving Caesar what was due we would have been keeping about 28 cents of every dollar. I shit you not.
So fuck em. I'll work hard after the collapse, when I can realize what I earn and therefore deserve. I can't wait for the whole rotten thing to fall over and the great parasite hunts to begin.
Its gonna be a target rich environment. I cant wait.
What a fucking lame way to live.
Can you imagine how tedious and stressful it would be to be dealing with that shit every fucking day of your life? Couple of reh-tards.
Yea, not having bills to pay and living in a fabulous home on 5+ acres sure sounds stressful. Free to spend all your money keeping up the appearance that you're actually successful enough to afford such a home.
Everyone blames the borrowers, the motgage brokers, the banks and the builders etc etc etc. The fact is that these things wouldn't happen without massive subsidisation of the US housing market by the US Government. This is a fact that is easily lost on people looking at housing. The Feds are 100% of housing today. Without the Feds, there would be no US housing market.
What is more the entire sub-prime debacle had several limbs to it. One of them was the pressure put on banks to lend to "minorities" because statistically it was found that home ownership rates among them were lower than among the white majority AND rates of credit refusal/rejection were higher. Enter the Clinton Administration (remember them anybody?) This is a problem that has roots in the racial "activism" of the Clinton Administration back in the 1990s. People hurl abuse at Bernanke, Greenspan, Bush and Obama but not one even remembers how mortgage lending got systematically dumbed down to meet the government's "targets" for minority lending. The rest as they say is history.
I agree. Payback is a bitch.
The little guy quickly Learns what it takes.
The housing market would exist without the FED. It would just be affordable.
Most niggers that are this couple's age around D.C. are working 6 figure government jobs and between the two of them could (barely) legitimately afford the mortgage payment on a 1.3 million dollar McMansion. And they do. Along with a Mercedes and an Escalade. Those are the trophies of choice among the D.C. area government elite. Of course, they are completely incompetent by every possible meaning of the word, but that's irrelevant. They're black and our federal government continues its policies of discrimination against white males and handing out 6 figure affirmative action welfare jobs to blacks. Prince George's county Maryland (borders D.C.) is one of the top 10 richest counties by average household income in America. It's also 85% black.
The only surprising thing here is that they didn't both move into 6 figure government jobs after the housing collapse and Obama took office. The Federal government hires approximately 10 minorities for every 1 white male. The niggers they hire then proceed to spend most of their time at work asleep, bullshitting with the other niggers, or browsing ESPN.com.
Most of you have no fucking clue how bad it really is. And I feel sorry for those of you working in the private sector (i.e. not for the government) for less than $200,000 a year because you are nothing but slaves to the government's affirmative action welfare queens. They live in million dollar houses and drive Mercedes Benz's while you slave away for your pathetic 5 figure salary to generate profits which only generates tax revenue for these parasites. What little work they do contribute to is federal regulations that micromanage your existence and tax you into poverty. With their online degrees from Phoenix Online that aren't worth the paper their printed on, to the straight up FAKE degrees, they are fucking you:
https://en.wikipedia.org/wiki/Laura_Callahan
"Laura Callahan was the former senior director at the United States Department of Homeland Security who resigned after an investigation revealed that she had obtained academic degrees (B.S., M.S., and P.hd in computer science) from a diploma mill. Callahan had also served as Deputy Chief Information Officer (CIO) of the US Department of Labor and was previously a senior information technology (IT) manager at the White House."
So while you were busting your balls for a pathetic wage this cunt was collecting SES pay (170K+ a year) with a bunch of fake degrees padding her resume for over a decade. Even AFTER THAT she has obtained a new TS/SCI security clearance a few years later and is currently a GS-14 working at DoD Cyber Command.
http://www.wnd.com/2011/07/323373/
I'll tell you this though, I feel like a fucking moron for living legit and within my means. Why the fuck bother when the FHA is still handing out loans at 2.5% down and you can live rent free for 2+ years?
Get a fake graduate degree (or a few, why stop at 1?).
Get a crazy high paying government job where you work bankers hours and do nothing all day.
Get yourself a million dollar McMansion and refuse to make the payments.
Welcome to America, corrupt and rotting from the top down.
Laura Callahan? That's nothing. Try Franklin Raines.
"Raines graduated from Harvard College, Harvard Law School; and Magdalen College, Oxford University as a Rhodes Scholar."
I don't see any connection whatsoever between the two. He put in the work up front to have some credibility in the positions he held, regardless of what he did afterwards. She bought fake degrees from some hippy school in Utah and literally lied her way into sensitive national security related positions (and she's still in one).
Raines committed fraud on a massive scale. Getting into an Ivy League school doesn't entitle him to commit fraud.
Are you pissed at em cos they are richer than you or because they are smarter than you?
Improvise, adapt, overcome.
"Make money, by fair means if you can, but by any means make money"
Cesaro.
Your use of racial epithets took a lot away from what would otherwise have been an excellent rant. Although this is "Fight Club" the level of discourse is usually pretty high.
Free speech is honest speech. If Tyler and company don't like it they can add a word filter or ban this account. I have other accounts awaiting activation, and maybe I'll tone it down IF someone makes me.
Until then, deal with it.
Note that I did not make any comments about your right to say what you said as long as the owner of the site is OK with it. I merely pointed out that for me, it took away from my appreciation of your post. I will "deal with it" by not reading your posts in the future if I find that you are not worth reading.
Mozilla Firefox + Greasemonkey + L2code == custom Firefox addon for Zero Hedge to hide posts by people you wish to make "disappear."
Hell, maybe I'll write it and publish it for all you tools to use to remove my dissenting views from your reality.
You don't seem to be very good at reading comprehension. I never said I had any problem with dissenting views. I said that I ignore posts by people I judge not worth reading. You appear to be one of them. Of course since you have admitted you either will, or have, posted under multiple accounts, who knows? Have a nice life.
He is one of those guys that even when you agree with him you give him red just for being an asshole. Then he'll get really pissy about it..
Trav777 can have a good point worthy of debate, if hes not being racist or anecdotal about stuff.
In fact i'd say his wording is lazy, he's obviously smart enough to get his point across w/out being racist.
Black people are three times more likely to be sent to jail than a white person.
Trav777 says its coz they is black skinned and have low iq's.
California spends 5 times more on its prisoners than its students.
Prisons for profit is the fastest growth industry in the USA.
So govt pays corp's to run prisons, corps lobby govt with bill to increase jail time for crimes.
Govt has to pay more to corps for longer stays inside.
Corps make out like bandits while taxpayer foots the bill for it all.
Trav, instead of commenting on how bad it is tell us how to fix it.
oh shut the fuck up.
his use of racial epithets is not a big deal and you need to wash the sand out of your vagina. He was just keepin it real yo
Funny, that's not your attitude when someone arguing against you uses such evil, terrible nasty words.
I guess the crack is breaking down your ability to keep the lies straight.
LOL...do you ACTUALLY think I care that you use nigger when speaking? you SERIOUSLY think I give a single fuck?
161? ROTFL...maybe 61
can't dude...I'm a white man.
The incompetence in the .gov would blow your mind if you haven't seen it firsthand. Just blow it right outta your head.
FICO matters if you're white. Background checks for TS matter if you're white. The standards don't get lowered for you; they're RAISED.
I knew a dude at GS14 who was gonna put in for a GS15 billet and was told flat out that he wasn't the right color for the job. Period, point blank, direct quote. And people look at me funny when I say he was a white man. EVERYTHING they've ever heard and seen on television made them think the punchline was that he was a black denied dem oppatunateez.
Callahan is utterly incompetent; people like her are PRECISELY WHY the gov could not have orchestrated 911 nor this financial collapse. Callahans are everywhere in government.
Anyone know what happened to ol Casey Serin?
Man what a laugh riot that was.
Casey the poster child of the Housing Bubble.
What is wrong with these blacks?
Flash Mobs
Riots for sneakers
Rampant violence and poverty in their communities
Utter lack of respect for society
Look at deliquencies, foreclosure, unemployment, crime, disease, UE, by demographic as a percentage of the population.
You really don't see this in predominately white or Asian communities.
Remember all the looting and shit after Katrina? You didn't see that after Fukushima in Japan or after Joslin Missouri (or even after the recent tornados)
Call me racist all you want, there is something wrong with blacks, generally all over the world.
You are not racist, you're just suffering from penis envy...........
I wouldn't expect anything other than a penis joke from you.
Then you obviously dont read my posts.
killer "Africanised" Bees......
Now that was racist!
Only if its true..
They are subhumans. Their biological makeup is not conducive to civilized society. The media, schools, and so forth have waged a hundred year propaganda campaign to convince you that all races are the same. But some of us can see through the smoke screen of lies to the obvious truth. Racial differences go far beyond skin deep.
Biologists know it. Dog breeders know it. Is a Dachshund the same species as a Great Dane? Absolutely, they are both dogs. They can even interbreed. Are all dogs then identical in temperament, size, strength, intellect, and capability? Absolutely not. We acknowledge this intuitively with other mammals while denying it with homo sapians. Cognitive Dissonance at its best.
Uh-huh. Different breeds of dogs have different traits. You don't judge them by the color of their fur. You also don't judge their personality by the name of their breed. If you do, you will wind up getting your baby's face eaten off by a Miniature Daschund, or try to ban all Pit Bulls, and miss out on a lot of great dogs.
If you want to judge the "breeds" of people, then you are going to have to differentiate by a lot more than just skin color. You are going to have to deal with the fact that there is more genetic diversity among different groups of Africans than there is in the rest of the world. You are going to have to deal with a universe of mutts.
Honestly, the very idea is exhausting. Why don't we try just judging individuals by the content of their character?
huh? if there were 4 breeds of dog, each with different colored fur, then you sure as shit could. Your statement is irrelevant.
There is more genetic variation in blacks...so what? There's a lot of mutations there. At the risk of having to give you another bitchslap r to negative IQ was highest for average skin darkness.
Jared Diamond said it best when he said that the reason blacks didn't proceed toward civilization was because of selective pressure placed by diseases which wiped out larger concentrations of population. What he didn't realize was that this means that they evolved AWAY from civilization and the tendency toward civilization would be selected OUT of the population.
Traits such as antisociality and aggression would tend to reinforce as these would inadvertently lead to higher offspring survival rates. Anything making you less civilized would lead you to tend to have higher offspring survival rates.
Evolutionary biology is why animals fear snakes. The ones that didn't have this behavior ended up with lower offspring survival rates. Over eons, this causes virtual extinction of disadvantageous traits. An animal's parents teach it relatively little anymore than we teach babies to walk or talk. They are built with the capability to express these behaviors.
Behavioral selection is how dogs are BRED for particular traits beyond physical. Aggression, intelligence, docility, etc. All of these are biological in nature primarily. Only in humans are there really any significant tailoring options. And even still, the highest r to criminality is that of your dad, kids tend toward biological attributes such as IQ irrespective of environment. r is highest to biology and that is because biology causes it, ceteris paribus.
Uhh, what if there were 400 different breeds of dog, with four different types of fur, of which 350 are black furred.
Also, the breeds have interbred.
Also, humans aren't subjected to the same selective process that they use to select traits for domesticated animals.
Also, you're an idiot.
Also, stop smoking the crack you bought for your whores.
of course humans were subjected to selective pressure, you fucking MORON..how do you suppose the whole skin color thing happened? Nevermind the plethora of other physiological differences.
GFD for an IQ of 161, you sho as fuck is stupid
lulz
"We acknowledge this intuitively with other mammals while denying it with homo sapians"
That because we are not animals, tho in your case ill make an exception.......
Please see my comments earlier about the dozens of clients I have had with identifcal stories. All were white but it never occurred to me to attribute their behavior to their skin color or other immutable attribute. Silly me, I thought the commonality was the banking system's need to create every higher amounts of debt until the system implodes and requires taxpayer bailouts.
No goodrich, you are right. This place has unfortunately turned into a den of racists. I'm outta here.
That is all it takes to make you bail? No wonder the bankers are winning, the school system while convincing us all cultures are equally valuable removed your sac. Jew bashing goes o n here constantly I filter it out and look for CD, Slewie, Tmos and others.. Drop the mangina and buck up..
Jooz need a good bashing every once in a while.
They only know how to play the victim. They would fund organized anti semitism if anti semite organizations fell on hard times.
It's really sickening making one's blood boiling! And just think that this despicable couple is just one drop from of the bucket! There are many like them out there. You can live like them too if only you know how to beat the financial legal lop holes. No wonder there are still many people can go shopping fine goods and enjoying high livings. They have lots of money to spend since they don't have to pay mortgage. Or some else are paying their high luxury livings.
The system is so corrupt it's not worth to be saved. It's time for the honest hard working tax payers to clean them out.
There is another effect of all these people not paying mortgages. They will be willing to work for less pay, thereby eroding the earnings of those that are paying mortgages, causing even more people to stop paying mortgages and continuing this endless cycle of stupidity brought on by our economic 'brain trust'.
The former prime minister of Iceland has gone on trial in a special court in Reykjavik on charges of negligence over his handling of the country's 2008 financial crisis and the collapse of the country's banking system.
http://www.aljazeera.com/news/europe/2012/03/2012354447311316.html
Boom cycles: From "on probration" for bankruptcy fraud and earning minimum wage....to real estate mogul
(Ah yea....the American Dream personified)
Don't forget to tell all your friends how to 'best' scam the system....don't worry, Obama sez he can handle any type of economic adversity
I am betting they are not paying the property taxes but the bank is. Since the bank is the lienholder they will make sure the taxes and homeowners insurance are paid, in the meantime so as not to shake up their stockholders and keep the elusive lie alive that they are well and solvent they will have this property at 100% par value on their book(s) you know, the one book that they feed to the investors. The haven't kicked them out because they do not want to have to mark it down by $700,000 once they actually foreclose. In the meantime the critters are living the good life and showing the rest of us who continue to pay our mortgage on time as agreed to that we are just a bunch of fools. Guess the critters don't put enough income on their IRS form to need the mortgage interest deductions.
This story is no more unbelievable then the story today on Fox news about illegal aliens not only paying zero taxes but getting thousands back in tax payers dollars using the child tax credit.
Just disgusting where we are as a country today and the only ones not getting ahead are people like me and others who work, pay taxes, pay our bills as agreed to, and don't scam the system. What they saved in not paying mortgage or rent for the last five years they could pay cash for a new home where I live. And to think I just bought a new home last year and made all my payments on time as agreed to. On a cash on cash return the critters have by far gotten the best ROI out of any investment I know of.