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 Posted: Tue Oct 07, 2008 12:24 am Post subject: |
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Fireyone - She is a client. We had that conversation. She doesn't care about the house - sister doesn't want it, no potential of rental, etc.
She asked me what the downside was if "they" just let it go. I told her that the only advantage of keeping it would be rental income. However, no one is interested in that option so I said there really isn't a downside.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 12:29 am Post subject: |
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I am glad that you taken care of it for her...you sound like a good person. I agree with your client when not being interested in renting. It really is a nightmare. I had a family member go through this renting thing when she couldn't get her house to sell and was making two mortgage payments.
Not an easy job...especially if you get a bad renter. |
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fireyone
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| Posted: Tue Oct 07, 2008 12:34 am Post subject: |
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I have many clients who own rentals (some upwards of 10). Horror stories galore - homes trashed, everything stolen, can't evict them without 30 days notice, etc.
One guy had a family move out and leave his water running in the upstairs bathroom. He didn't know they moved out until 40 days later (rent was paid on the first, they moved out on the 2nd - why they paid rent then moved out I have no idea - no rent came in the first of the next month - waited 10 days for late fee - then the landlord went to the house). The water company verified the water had been running for nearly 40 days.
If you ask me, it simply isn't worth the hassle.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 12:39 am Post subject: |
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cAN'T HE HAVE DONE SOMETHING LEGALLY..LIKE PRESS CHARGES OR SOMETHING. i AM ALWAYS AMAZED TO HEAR THINGS LIKE THIS AND I REALLY DON'T KNOW WHY I AM BECAUSE SO MANY PEOPLE OUT THERE HAVE SUCH UNENDEARING QUALITUES.
When the people moved out of my sisters they were upset cause she sold the house (it was a month to month lease) so they threw tomatos on the walls...floors...ceilings and even down the register vents.
I would have had them prosecuted but she said she was just glad the house was sold and the renting was over with. |
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fireyone
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| Posted: Tue Oct 07, 2008 12:43 am Post subject: |
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He could have..if he knew where they went. Problem was they had a 40 day head start. And to be honest, even if they had stayed in town, it is a low profile crime - the local PD has more to worried about than something like this.
Their words.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 12:45 am Post subject: |
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Thats a shame. A crime is a crime but like you said they had a 40 day head start. I can only imagine the damages.
Did they have anything to cover this or did some/ all have to be at their expense? |
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fireyone
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| Posted: Tue Oct 07, 2008 12:47 am Post subject: |
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Insurance covered it. But it was a huge dollar amount - and of course, that puts them into the precarious spot that if they file another claim, what could happen to their policy.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 12:50 am Post subject: |
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| Wouldn't their payment for coverage had gone up? I know when my hubby hit my brothers truck last winter with his riding tractor/jig rigged snow plow we had to trun it in and our policy amount (payment) jumped like $80. |
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fireyone
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| Posted: Tue Oct 07, 2008 12:57 am Post subject: |
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It did on renewal. But of course, he expected it. We have great rates for Landlord insurance - he was worried about being canceled.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 1:01 am Post subject: |
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| Yes I can see hus worry. I was afraid of the same thing after getting demolished by another vehcile and using up all my auto med pay and maybe (still waiting) having to fall back on my under-insured motorist. Lori explained to me even if I have to they can't get "rid" of me since I had no fault in the accident. Still waiting to see how that one turns out. Seems unfair she gets to move ahead with her life while I am learning to relive mine with the injuries she left me...but thats a whole other story. |
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fireyone
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| Posted: Tue Oct 07, 2008 1:04 am Post subject: |
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First off the single mom sister and this situation aren't even close to the same.... | Quote: | | The "right" thing to do when a spouse dies is to first protect your own financial interests |
wait! she has NO financial interest...none--she paid her bills he paid his...so what did she lose (financially) when he died? Nothing....she didn't depend on his income, right? | Quote: | | Bankers and credit card companies use human nature to their advantage by burying you in debt and creating an indentured servant |
No it's the borrower that caused this problem not the creditor, the borrower made a promise to repay this note...You are confusing me Gary it seems like you're on both sides of the fence...you rant about these ignorant people that in effect steal from mortgage companys but this is ok? Sorry, guess I'm old school, but if I sign a contract that says I'm going to pay back 'x' amount of money then by gosh that's what I'm supposed to do...period...if 'I' overextend myself that's a lack of self control on my part NOT the creditors part, they didn't make me spend this money, they simply offered it and "I" took advantage of it...so now "I" need to meet my obligation and promise to pay it back....Personally I'd work two jobs to clear that debt, before I let my husbands name be associated with anything other honest, hardworking, "stand up" kind of man he is...maybe it's just me, or me and maze, but I just don't understand this....stick it to 'em attitude...not in this situation...now, if the guy was a dead beat his whole life and left this woman pretty much penniless, well I might change my mind, but that clearly isn't the case here. And no I don't think it's either or...I think the situation dictates the outcome...or IMO what 'should' be the outcome... | Quote: | | Nothing prevents them from refusing to offer credit without a co-borrower or without collateral |
And nothing prevents the borrower from using it either...this is the same type of arguement that blame gaming establishements for people getting into financal trouble because they gamble the rent money away, or it's the liqour stores fault that an alcholic can't walk past it...  I'm sorry but I'm so sick of no body taking responsiblity for their own actions! It's ALWAYS someone elses fault! In this case it's the cc company's fault for extending credit ! really? do you really believe that?
Don't tell me about hard times, been there done that, have all the sympathy in the world, it was HARD to dig out but it can be done...have done it! ....all I'm getting at is it's the person that whips out that plastic, not the financial institution backing it that has the problem...
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Lori
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| Posted: Tue Oct 07, 2008 1:07 am Post subject: |
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I hear you. I see these commercials on TV for the "ambulance chaser" type lawyers and just kind of shake my head.
But sweetie...situations like yours, I hope the lawyers gets every penny they can for you.
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LifeIsGood
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| Posted: Tue Oct 07, 2008 1:12 am Post subject: |
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Thanks Life. What really disgusted me is when I started getting all those letters in the mail from atty screaming "pick me, pick me".
I wasn't the least bit familiar with any of this and when I heard life time injuries I thought I really needed one. I don't think I could have handled doing all the legistics and putting my life back together.
Lori...I was brought up old school too..Never wasted anything...pennies mattered and weren't bounced down the highway for fun or swept up in the sweeper...If its my bill I pay it...usually as soon as it comes in. Even in the times I am having now..I am not behind on one med. bill even if I only send them $10 a month. |
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fireyone
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| Posted: Tue Oct 07, 2008 9:20 am Post subject: |
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Lori, great post!
No I'm not on both sides of the fence.
I agree with you EXCEPT in this case the wife did NOT create the debt. That's the difference. She did NOT create the debt. It is NOT her debt. Did I mention she (the wife) in this case did NOT borrow this money? It's NOT her debt.
Regarding people legally robbing the bank with inflated mortgage loans then walking away. I don't feel sorry for them or for the banks. We'll call it contributory negligence.
My beef is more with the Barney Frank type POLI - TIC government bass towards who create these problems, then go on the tube and lament how these poor people are losing their homes when many of them are cheerfully dumping these homes after they have legally robbed the bank with the bank's and the government's permission.
That's my beef.
One more thing did I mention the wife did NOT borrow the $100,000 of debt that her loving husband racked up?
The woman who called into Ms. Suze was actually very smart for keeping her money and her debt separate from his money and his debt.
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GarySpicuzza
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| Posted: Tue Oct 07, 2008 11:46 am Post subject: |
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I know you're not that 'type' fireyone...hope you know I wasn't talking about you...think you know me well enough to know that....it's the 'nothings ever my fault' people that just rub me raw....
Yeah Gary I got that she didn't rack up the debt, but she did most certainly benefit from it right? Or maybe not what was this 100k spent on? And what about her not having any financial loss experienced in her hubby's death? And in her case maybe she was smart to keep her assets, money and debt from hubby if he was irresponsible in this area...did she say what this money was spent on?
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Lori
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