Man: We are evicting you in accordance with the waiver you signed granting us the right to evict you if the house we sold you had been foreclosed using forged documents.
Woman: This isn't my signature.
Do we expect the banks to play by the same rules as us, or not? As far as the inevitable cries that the deadbeats should be thrown out… The banks will be taking a loss on the house no matter what. Maybe if they had to go through the real process of a foreclosure, they would be more motivated to try & work out a deal with the current owners. The worst thing that can happen in terms of the future value of the property is bank foreclosure & eviction. The empty properties owned by banks are never maintained at all. I’ve seen a lot of decent houses become tear downs in the year or more that it takes for the house to eventually get bought by someone for a fraction of what the original mortgage was. The banks would be doing themselves a favor to take the loss, reduce the principal & move on.
Do we expect the banks to play by the same rules as us, or not? As far as the inevitable cries that the deadbeats should be thrown out… The banks will be taking a loss on the house no matter what. Maybe if they had to go through the real process of a foreclosure, they would be more motivated to try & work out a deal with the current owners. The worst thing that can happen in terms of the future value of the property is bank foreclosure & eviction. The empty properties owned by banks are never maintained at all. I’ve seen a lot of decent houses become tear downs in the year or more that it takes for the house to eventually get bought by someone for a fraction of what the original mortgage was. The banks would be doing themselves a favor to take the loss, reduce the principal & move on.