0bama's Chicago home gets foreclosed!
Annette
2012/06/23 22:53:01
Obama's Chicago home gets foreclosed
http://www.supertuesdaynews.com/1/post/2012/01/obamas-chicago...
CHICAGO,
IL - President Obama's Chicago homecoming on Wednesday was less
welcoming than he expected, as Obama was shocked to learn his Hyde Park
residence had been foreclosed upon some time last year. Obama was in
Chicago for a series of fundraisers and decided to visit his old home,
only to discover the locks had been changed and a new family had moved
in.
Since his inauguration, President Obama had neglected to
make a single payment on the home he'd shared with his wife and two
daughters, while the house itself fell into grave disrepair.
"The place started to become a real eyesore," said Kevin Deckman, who
owns a home on the opposite side of the street from the former Obama
residence. "The lawn was nothing but weeds, and there were a bunch of
stray cats that would come and go through an open window, I think. It
was a real health hazard. I had to tell my kids to stay away from the
Obama house so they wouldn't catch rabies."
IL - President Obama's Chicago homecoming on Wednesday was less
welcoming than he expected, as Obama was shocked to learn his Hyde Park
residence had been foreclosed upon some time last year. Obama was in
Chicago for a series of fundraisers and decided to visit his old home,
only to discover the locks had been changed and a new family had moved
in.
Since his inauguration, President Obama had neglected to
make a single payment on the home he'd shared with his wife and two
daughters, while the house itself fell into grave disrepair.
"The place started to become a real eyesore," said Kevin Deckman, who
owns a home on the opposite side of the street from the former Obama
residence. "The lawn was nothing but weeds, and there were a bunch of
stray cats that would come and go through an open window, I think. It
was a real health hazard. I had to tell my kids to stay away from the
Obama house so they wouldn't catch rabies."
Ironically, Obama had joked before heading to his old house that the untended structure was "bringing down property values"
in the neighborhood, which turned out to be true. Sheila Kravitz, a
retired schoolteacher, tried to sell her home on Obama's block last year
but couldn't, as any prospective buyer was uninterested in living next
to the decaying structure.
"They had a TV on in that house that
was on 24 hours a day for months," said Kravitz. "The volume was way up
and it was on one of the Spanish stations. Why would they be watching a
Spanish station in the first place? And then to leave it on full
blast? It's just so inconsiderate."
Daniel Broyles, a spinal
surgeon at the University of Chicago Medical Center, purchased the
former Obama home at a foreclosure auction last May and was headed to
his kitchen Wednesday night when he caught the president trying to jimmy
open the side door with a credit card. "He came through the door, and
we both had this moment where we were looking at each other like, 'What
are you doing?'" When Broyles explained to Obama the circumstances by
which he came to own the house, the president apologized and left.
In Washington the next morning, Obama downplayed the foreclosure as a
minor inconvenience. "Whatever. It's cool," said Obama. "It's not
like the girls and I don't have anyplace else to go. So I was too busy
creating jobs and killing Osama bin Laden to remember to mail a check.
Whoops."
Obama added, "If anything, I think this shows other
Americans undergoing foreclosure that it doesn't matter if they're
irresponsible or bad with money, because so is their president."
[Personal comment: Can you believe he made those statements!?! Coming from a president, I am appalled!]
in the neighborhood, which turned out to be true. Sheila Kravitz, a
retired schoolteacher, tried to sell her home on Obama's block last year
but couldn't, as any prospective buyer was uninterested in living next
to the decaying structure.
"They had a TV on in that house that
was on 24 hours a day for months," said Kravitz. "The volume was way up
and it was on one of the Spanish stations. Why would they be watching a
Spanish station in the first place? And then to leave it on full
blast? It's just so inconsiderate."
Daniel Broyles, a spinal
surgeon at the University of Chicago Medical Center, purchased the
former Obama home at a foreclosure auction last May and was headed to
his kitchen Wednesday night when he caught the president trying to jimmy
open the side door with a credit card. "He came through the door, and
we both had this moment where we were looking at each other like, 'What
are you doing?'" When Broyles explained to Obama the circumstances by
which he came to own the house, the president apologized and left.
In Washington the next morning, Obama downplayed the foreclosure as a
minor inconvenience. "Whatever. It's cool," said Obama. "It's not
like the girls and I don't have anyplace else to go. So I was too busy
creating jobs and killing Osama bin Laden to remember to mail a check.
Whoops."
Obama added, "If anything, I think this shows other
Americans undergoing foreclosure that it doesn't matter if they're
irresponsible or bad with money, because so is their president."
[Personal comment: Can you believe he made those statements!?! Coming from a president, I am appalled!]
- "Romney family garage sale brings in $20 million!"
http://www.supertuesdaynews.c...
- "Millard Fillmore becomes nation's first female president!"
http://www.supertuesdaynews.c...
- "Romney pusses out of parking lot fight with Gingrich!"
http://www.supertuesdaynews.c...
"Biden clears out three rows during Obama speech!"
http://www.supertuesdaynews.c...
And the "Palin Emails" are hilarious!
http://www.supertuesdaynews.c...
It is a pretty funny sight, put them on my "favorites" as they're similar to the "The Onion"
-Update-!
Lol, and out comes the "BLOCK", ah well, some folks hate it when called on their lack of integrity and tend to run and hide when called out.
- Comment -
Thank you David, that's very sweet. I'm proud of the fact that I've never blocked anyone, but I'm old school. Just because I disagree with someone (heck, even if they're insulting) I'm not prone to taking my ball and going home in a huff! But I'm a big girl and can take care of myself.
Though be careful, I sense the guillotine of those would give lip service to the 1st amendment than honor it (as the author of this post did), maybe be swinging over your head.
- "Romney family garage sale brings in $20 million!"
http://www.supertuesdaynews.c...
- "Millard Fillmore becomes nation's first female president!"
http://www.supertuesdaynews.c...
- "Romney pusses out of parking lot fight with Gingrich!"
http://www.supertuesdaynews.c...
"Biden clears out three rows during Obama speech!"
http://www.supertuesdaynews.c...
And the "Palin Emails" are hilarious!
http://www.supertuesdaynews.c...
It is a pretty funny sight, put them on my "favorites" as they're similar to the "The Onion"
-Update-!
Lol, and out comes the "BLOCK", ah well, some folks hate it when called on their lack of integrity and tend to run and hide when called out.
- Comment -
Thank you David, that's very sweet. I'm proud of the fact that I've never blocked anyone, but I'm old school. Just because I disagree with someone (heck, even if they're insulting) I'm not prone to taking my ball and going home in a huff! But I'm a big girl and can take care of myself.
Though be careful, I sense the guillotine of those would give lip service to the 1st amendment than honor it (as the author of this post did), maybe be swinging over your head.
So you can rebel, cry, scream, whine, moan, all you want - it's YOUR energy spent....
Isn't It Ironic?
The food stamp program, part of the Department of Agriculture, is pleased to be distributing the greatest amount of food stamps ever.
Meanwhile, the Park Service, also part of the Department of Agriculture, asks us to "please do not feed the animals" because the animals may grow dependent and not learn to take care of themselves.
The house is OWNED by a couple of LAWYER FRIENDS of Obama's.
The OBAMA'S set up a deal that so that they could NOT LOSE the HOME no matter what.
These are the same two crooks that had to give up their Licenses to Practice Law in Illinois because of ETHICS VIOLATIONS.
http://www.zillow.com/homedet...
http://www.zillow.com/homedet...
http://www.zillow.com/homedet...
Apparently he left them to handle the property.
Here is my advice in how you can keep your home, even without a job. And when you get a job, you don't need to use your income to pay the Mortgage. The one essential element is do you trust your neighbor? Well you should, if you want to live in a good home.
http://www.sodahead.com/unite...
I don't think scam. I think reality. You can not refute that Jobs are a farce method of qualification for loans. They evaporate, because of too much technology, that creates more supply than demand. We can not live and pay mortgages based upon Job cycles.
It does not work. You have a longer commitment for a loan, than your idea a job will last 30 years. They don't. And if you want a real home, instead of being a gypsy, selling out and moving to another State, in hopes to find another job, then try doing something better to stay in the neighborhood.
Why do you think Communities fail, and people end up moving out? I am advocating a way to have real Communities that support homes based upon getting Banks to change their policies for mortgage renewals on a yearly basis, or less. Between 2 homeowners who buy and sell back their homes to each other, while keeping Mortgages current, and allowing loan stability for the banks. They make money, and the home is able to increase in value.
If you don't want that. Then you are welcome to your putrid slums, and poverty.
You know what got us here to begin with Bill Clinton putting Jimmy Carter's CRA of 1977 on steroids.
No job, No income NO PROBLEM. No closing costs, no down payments, none sourced gifts OK. 100 to 115% financing.
That is what Bill Clinton did to the lending market "thinking outside the conventional lending practices box"
The best thing the government can do is stay out of the free market.
You owe the money on a promise to pay you don't pay you don't cry victim and try to get out of it. You face the music and suffer the consequences
The issue is once stable loans are established, they create value. When homes in a Community have stable loans, despite having no jobs, this creates the wealth effect, and home values rise. Home values rise, this means profits and increased Equity, if you sell; not only for the homeowners but for the banks as well.
The best thing to have done to end this as soon as possible was for the government to step away.
1. Let the banks fail. That is why we have bankruptcy laws in this country. But the leftist ideologues can't do that because as usual they think they know better and they think they have to protect the stupid people of America. Yes they think you and I are stupid. But they put money back in the deep pockets again.
When ever a business fails, there are other businesses waiting to get their piece of the pie, market share. No one is TOO BIG to fail. Their failure is the smaller businesses new found riches. That makes smaller businesses grow and other people successful, that is the American way. That is how the FREE MARKET works.
2. Let foreclosures take their course. The sooner that happens the sooner the Real Estate Market will hit bottom, stabilize and start to bounce back. Instead they have to nurse a dying horse and let the market suffer longer.
3. Let lenders do what they do best. make loans. The government can't run a brothel f...
The best thing to have done to end this as soon as possible was for the government to step away.
1. Let the banks fail. That is why we have bankruptcy laws in this country. But the leftist ideologues can't do that because as usual they think they know better and they think they have to protect the stupid people of America. Yes they think you and I are stupid. But they put money back in the deep pockets again.
When ever a business fails, there are other businesses waiting to get their piece of the pie, market share. No one is TOO BIG to fail. Their failure is the smaller businesses new found riches. That makes smaller businesses grow and other people successful, that is the American way. That is how the FREE MARKET works.
2. Let foreclosures take their course. The sooner that happens the sooner the Real Estate Market will hit bottom, stabilize and start to bounce back. Instead they have to nurse a dying horse and let the market suffer longer.
3. Let lenders do what they do best. make loans. The government can't run a brothel for a profit, what makes you think they can run the lending industry or any other industry for that matter.
When they do this all the domino pieces knocked down by Bill Clinton's idea of forcing lenders to lend to those who can't pay back, will slowly start coming back up.
Construction being the key. If there is no money being borrowed, there are no new homes being built, there is no lumber being moved, no trucker back on the roads, electricians, carpenters, dry wallers, land surveyors and appraisers back to work, mortgage brokers, Land Title agents, inspectors re-opening their offices, etc., ect.
And the truth is if everyone loses their homes, you know who wins? The banks do, again. Because they will be there buying back the homes at much lower value, and resell them to make a profit. They don't lose, they never do.
So why should we let them do that?
I disagree that foreclosures should run their course. Because that is what the Banks want.
You say you want free markets to operate. I got news for you Ed. There is no such thing as a free market. We have never had a free market system in the United States. The markets are controlled by the Military Establishment. The Military is controlled by the same people who control the Banks.
The only way to beat them is to use their borrowing schemes to allow you to live in a house basically for free, as long as you and another homeowner make good on buying and selling your homes to each other over an indefinite period of time. You use their money, because basically they have closed us all down from making our own money anyway.
And why? Because if everyone in the US is able to make it, they lose control over things. And that is something they don't want to happen.
Come November. Nothing will change, whether it is Obama or Romney.
So o...
And the truth is if everyone loses their homes, you know who wins? The banks do, again. Because they will be there buying back the homes at much lower value, and resell them to make a profit. They don't lose, they never do.
So why should we let them do that?
I disagree that foreclosures should run their course. Because that is what the Banks want.
You say you want free markets to operate. I got news for you Ed. There is no such thing as a free market. We have never had a free market system in the United States. The markets are controlled by the Military Establishment. The Military is controlled by the same people who control the Banks.
The only way to beat them is to use their borrowing schemes to allow you to live in a house basically for free, as long as you and another homeowner make good on buying and selling your homes to each other over an indefinite period of time. You use their money, because basically they have closed us all down from making our own money anyway.
And why? Because if everyone in the US is able to make it, they lose control over things. And that is something they don't want to happen.
Come November. Nothing will change, whether it is Obama or Romney.
So only the people can act upon their own individuality while not asking the Government to help them, and setup their own buyer/seller arrangement to keep them in their homes, while using the banks money.
And
How does the military control the market in America?
But please there is more to this read below.
Have you ever heard of "floating credit" or "credit card floating" that is very similar to what you are describing. What you are describing in your "buy sell and do it again" is also part of what created the bubble in the market. It inflated real estate pricing.
If real estate is sold over and over again without raising the price each time the property is sold, besides we are talking about properties that are already upside down which means a sales price may not support the loan amount. The loan to value is just not there. So then:
Who pays off the existing mortgage lien and how? Cash? New purchase money?
Who pays the closing costs needed for the survey and surveyor for the Title Insurance which is not transferable?
Who pays for the Title Insurance, chain of title and lien searches, title transfer, document recording, doc stamps, notary and the Title agent who does the work?
Who pays for the closing costs for the appraisal and appraiser performing the work.
That is not to mention getting new purchase money from where, another bank? Another mortgage?
You are talking about an arm's length transaction because it involves the pay off to a ...
And
How does the military control the market in America?
But please there is more to this read below.
Have you ever heard of "floating credit" or "credit card floating" that is very similar to what you are describing. What you are describing in your "buy sell and do it again" is also part of what created the bubble in the market. It inflated real estate pricing.
If real estate is sold over and over again without raising the price each time the property is sold, besides we are talking about properties that are already upside down which means a sales price may not support the loan amount. The loan to value is just not there. So then:
Who pays off the existing mortgage lien and how? Cash? New purchase money?
Who pays the closing costs needed for the survey and surveyor for the Title Insurance which is not transferable?
Who pays for the Title Insurance, chain of title and lien searches, title transfer, document recording, doc stamps, notary and the Title agent who does the work?
Who pays for the closing costs for the appraisal and appraiser performing the work.
That is not to mention getting new purchase money from where, another bank? Another mortgage?
You are talking about an arm's length transaction because it involves the pay off to a lienor. A contract that satisfies RESPA has to be drown up in order to as much as you trust your neighbor lol, anything can happen.
Sorry, let's agree to disagree. I rather earn what I own. Nothing in life is "for free." The banks do not win when they foreclose, banks are not in the business of owning residential real estate they are in the business of selling money and the price is interest, not in the business of selling homes. Selling foreclosures, "short sells" what ever you want to call it is a way to minimize their losses.
Healthcare should be based upon when you are ill, you can take a loan out based on your home. That is called a 2nd. When better and can find a job, work to pay off the 2nd, or sell your home to your neighbor, to refinance it.
What you're suggesting means that if you sold the house to you neighbor every 2 or 3 yrs, you would have to pay the govt. 3% every time. Just for kicks, let's say the mtg. is for 100,000. Are you ready to pay $3000 every time you switch hands with the mortgage?