Comments on: Forclosure Hell: Houses Selling For $1. http://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/ A place to discuss money...for the rest of us. Thu, 24 May 2012 01:22:07 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Catherine Guilleyhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-39039 Catherine Guilley Wed, 06 Apr 2011 23:50:47 +0000 http://www.mytwodollars.com/?p=1616#comment-39039 Are we awake out there? They need to offer all excess property for a dollar, no matter where they are located. Use the same guidelines as the Homestead Act. Must live in it, must improve it, and cannot sell it for at least 15yrs. That would allow people who seriously want a home to get one. Stimulate the economy by paying taxes and purchasing materials to renovate. The 15yr stay on selling the property would discourage people who just want to make a fast buck. It was this insatiable greed that got us in this mess in the first place, and only some good old fashioned commonsense is going to get us out of it. Are we awake out there? They need to offer all excess property for a dollar, no matter where they are located. Use the same guidelines as the Homestead Act. Must live in it, must improve it, and cannot sell it for at least 15yrs. That would allow people who seriously want a home to get one. Stimulate the economy by paying taxes and purchasing materials to renovate. The 15yr stay on selling the property would discourage people who just want to make a fast buck. It was this insatiable greed that got us in this mess in the first place, and only some good old fashioned commonsense is going to get us out of it.

]]> By: Edhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-37870 Ed Thu, 16 Dec 2010 16:34:38 +0000 http://www.mytwodollars.com/?p=1616#comment-37870 Stuff like that is happening more often these days. In some of the rough neighbor hoods close to where I live the banks can't sell the property and you can buy the entire property for a few dollars. The only bad thing about it is the properties need a ton of work, and can sometimes be very dangerous to go into these neighbor hoods to do the repair work. Stuff like that is happening more often these days. In some of the rough neighbor hoods close to where I live the banks can’t sell the property and you can buy the entire property for a few dollars. The only bad thing about it is the properties need a ton of work, and can sometimes be very dangerous to go into these neighbor hoods to do the repair work.

]]> By: What? Me Stressed? A Stress Test and Tips To Reduce Stresshttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-36523 What? Me Stressed? A Stress Test and Tips To Reduce Stress Fri, 11 Jun 2010 13:22:50 +0000 http://www.mytwodollars.com/?p=1616#comment-36523 [...] in recreational habits 19 Change in church activities 19 Change in social activities 18 Mortgage or loan under $10,000 17 Change in sleeping habits 16 Change in number of family gatherings 15 Change in eating habits 15 [...] [...] in recreational habits 19 Change in church activities 19 Change in social activities 18 Mortgage or loan under $10,000 17 Change in sleeping habits 16 Change in number of family gatherings 15 Change in eating habits 15 [...]

]]> By: Erikhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28744 Erik Sat, 13 Sep 2008 21:15:44 +0000 http://www.mytwodollars.com/?p=1616#comment-28744 In comment to Scott. Most homes in urban Detroit are empty, and have been in some cases since the 1970's. Detroit is in such poor shape most if not all of urban Detroit has no trash pickup, among other services offered. It is not like it is really worse off for the hose to be sold for $1 than it is in its present state no? In comment to Scott. Most homes in urban Detroit are empty, and have been in some cases since the 1970′s. Detroit is in such poor shape most if not all of urban Detroit has no trash pickup, among other services offered. It is not like it is really worse off for the hose to be sold for $1 than it is in its present state no?

]]> By: Uncommonadvicehttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28227 Uncommonadvice Mon, 18 Aug 2008 13:54:10 +0000 http://www.mytwodollars.com/?p=1616#comment-28227 I can't believe this - it just wouldn't happen in the UK. I take it the bank are just writing off the debt secured against the house? Secondly, why do the bank not just rent the property out? I can’t believe this – it just wouldn’t happen in the UK. I take it the bank are just writing off the debt secured against the house?

Secondly, why do the bank not just rent the property out?

]]> By: Moolahhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28216 Moolah Sun, 17 Aug 2008 23:13:36 +0000 http://www.mytwodollars.com/?p=1616#comment-28216 One dollar homes, that's almost as crazy as what I saw in DC. They were having buy one, get the next one free condos. Grant it these condos were located in bad neighborhoods but I can't believe the housing would get this bad. One dollar homes, that’s almost as crazy as what I saw in DC. They were having buy one, get the next one free condos. Grant it these condos were located in bad neighborhoods but I can’t believe the housing would get this bad.

]]> By: Mid-August Rounduphttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28213 Mid-August Roundup Sun, 17 Aug 2008 15:01:38 +0000 http://www.mytwodollars.com/?p=1616#comment-28213 [...] of My Two Dollars reports that houses are actually selling for $1 because banks (who foreclosed and are now stuck with the house) are so desperate to get rid of [...] [...] of My Two Dollars reports that houses are actually selling for $1 because banks (who foreclosed and are now stuck with the house) are so desperate to get rid of [...]

]]> By: davidhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28191 david Fri, 15 Aug 2008 14:23:17 +0000 http://www.mytwodollars.com/?p=1616#comment-28191 Well, they could not be any worse off than when no one owned it, so maybe it will stay really low for a while? Well, they could not be any worse off than when no one owned it, so maybe it will stay really low for a while?

]]> By: Scott @ The Passive Dadhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28183 Scott @ The Passive Dad Fri, 15 Aug 2008 05:33:23 +0000 http://www.mytwodollars.com/?p=1616#comment-28183 One dollar homes are brutal and that's got to have a huge impact on that neighborhood and local businesses. I wonder how the local government will be impacted by the loss of property tax revenue. Even if it gets paid, how will they assess the home value for 2009 property taxes? Couldn't be just a buck, could it? One dollar homes are brutal and that’s got to have a huge impact on that neighborhood and local businesses. I wonder how the local government will be impacted by the loss of property tax revenue. Even if it gets paid, how will they assess the home value for 2009 property taxes? Couldn’t be just a buck, could it?

]]> By: jim of Blueprint for Financial Prosperityhttp://www.mytwodollars.com/2008/08/13/forclosure-hell-houses-selling-for-1/#comment-28144 jim of Blueprint for Financial Prosperity Wed, 13 Aug 2008 20:42:38 +0000 http://www.mytwodollars.com/?p=1616#comment-28144 That's unreal... That’s unreal…

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