American Squatters on the Rise - Jamaica Talk

JASpice · #1 (**permalink**) 04-17-2009, 03:47 PM

With so many foreclosures through out the U.S. there has been an increase of squatters. With no where to go, many officials are reccomending that homeowners stay put... not to move out of their home after it forecloses.

What is your opinion on this??

Is it right for the government to bailout corporations, but to ignore the little people?

Is it right for a family to stay in there home for free, but the others are expected to continue their mortgage payments?

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Jamaica Miss · #2 (**permalink**) 04-17-2009, 04:29 PM

You keep paying your mortgage payments so that you will someday own the home or be able to sell it at a good profit and get something for all the hard earned money going into your real estate.

The person who loses their home can stay in the home according to what I know for quite some time. I hear it's anywhere from 6 months to a year. But they have ruined their credit unless of course they do the bankruptcy, which has so many rules I'm not going to go there.

I do not want to make any judgements on them because each case is different. All I know is they have lost a lot when they lose their home. And they have to be uprooted. Trying to find a place to rent that is less than their morgage payments can sometimes be impossible.

LeesaJ · #3 (**permalink**) 04-17-2009, 04:43 PM

Co-sign with Jamaica Miss.

I think that in such an unfortunate situation it's more important to focus on what can be done that will have the least impact on people and kids. They have to sleep somewhere.

Issues of right or wrong, fair or unfair start to be less important imo. If there's a shelter available to them down the street and new buyers are beating down the door with cash in hand then that's one thing. It's actually better for the house if someone is in there using it rather than it sitting there empty.

Tough call. Tough times.

JASpice · #4 (**permalink**) 04-17-2009, 04:46 PM

Quote:

Originally Posted by Jamaica Miss

You keep paying your mortgage payments so that you will someday own the home or be able to sell it at a good profit and get something for all the hard earned money going into your real estate.

The person who loses their home can stay in the home according to what I know for quite some time. I hear it's anywhere from 6 months to a year. But they have ruined their credit unless of course they do the bankruptcy, which has so many rules I'm not going to go there.

I do not want to make any judgements on them because each case is different. All I know is they have lost a lot when they lose their home. And they have to be uprooted. Trying to find a place to rent that is less than their morgage payments can sometimes be impossible.

I may be in a dreamland at the moment and this probably doesn't make sense.... but I would love to see a freeze put in place on all homeowners payments for a limited time frame (possibly 3 -6 months). This would apply to a certain amount, whether it's a max monthly payment amount or max overall mortgage amount.

This may juss give the chance that peeps need to recover and get back on their feet.

As for the banks.... they dug their hole to begin with... I don't have much sympathy for them at this time. Besides...gov't is giving them money anyways.

JASpice · #5 (**permalink**) 04-17-2009, 04:52 PM

Quote:

Originally Posted by Jamaica Miss

Trying to find a place to rent that is less than their morgage payments can sometimes be impossible.

I've been dealing with this type of situation .... I've been looking to rent closer to my childrens school for the past 4 months and the cost of rent is almost double of what a mortgage would be. Unfortunately I can't buy since I am still trying to sell my home.... I'm kinda stuck for now.

JASpice · #6 (**permalink**) 04-17-2009, 04:58 PM

Quote:

Originally Posted by LeesaJ

It's actually better for the house if someone is in there using it rather than it sitting there empty.

Tough call. Tough times.

I do agree with this statement.

What is difficult to get past are those that are taking advantage of the situation. Kinda like the welfare program. There are so many abusers of our system, it's sometimes hard to see the ones that are truly in need.

With the Good comes the Bad.

LeesaJ · #7 (**permalink**) 04-17-2009, 05:02 PM

Quote:

Originally Posted by JASpice

I've been dealing with this type of situation .... I've been looking to rent closer to my childrens school for the past 4 months and the cost of rent is almost double of what a mortgage would be. Unfortunately I can't buy since I am still trying to sell my home.... I'm kinda stuck for now.

Good luck, JASpice.

Tough times for many of us for sure. Guess we need to fasten our seat belts while we ride this out, it's a bumpy ride and I'm afraid from what I'm reading that it's gonna get bumpier.........

JASpice · #8 (**permalink**) 04-17-2009, 05:25 PM

Quote:

Originally Posted by LeesaJ

Good luck, JASpice.

Tough times for many of us for sure. Guess we need to fasten our seat belts while we ride this out, it's a bumpy ride and I'm afraid from what I'm reading that it's gonna get bumpier.........

Thank you LJ

Hopefully, with my current project at hand and it's prospective timeline, everything will work out. I am just thankful that I am one that still has a home.