A Cycling & bikes forum. CycleBanter.com

Go Back   Home » CycleBanter.com forum » rec.bicycles » Techniques
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Pricepoint is gone :-(



 
 
Thread Tools Display Modes
  #251  
Old September 12th 16, 10:11 PM posted to rec.bicycles.tech
JBeattie
external usenet poster
 
Posts: 5,870
Default Pricepoint is gone :-(

On Monday, September 12, 2016 at 1:37:16 PM UTC-7, Radey Shouman wrote:
Joerg writes:

On 2016-09-12 09:00, jbeattie wrote:
On Monday, September 12, 2016 at 7:49:55 AM UTC-7, Joerg wrote:
On 2016-09-11 14:57, jbeattie wrote:
On Sunday, September 11, 2016 at 7:23:50 AM UTC-7, Joerg wrote:
snip

How can you use a house owned by a 3rd party as collateral
for a loan made to you.


Have you never understood that collateral transfers _at_ the
moment of finacial transaction? _At_ _that_ moment the XYZ
Company no longer owns the property and neither does the buyer.
The bank does and that bank can transfer factual ownership to
some other institution if they need to borrow the money from
there.


Have you never understood secured transactions? The bank doesn't
own your home unless you default and it forecloses. Your home is
just security for repayment of a loan.


And what exactly do you think security means?

Exactly what I said. More specifically, in Oregon for example, ORS
86.010 provides in part: "A mortgage of real property is not a
conveyance so as to enable the owner of the mortgage to recover
possession of the property without a foreclosure and sale. . ."


That is de facto ownership to the extent of the outstanding mortgage
balance. No payment - bank or whoever the mortgage got sold to later
_will_ foreclose and _will_ sell.


In that case your local government has de facto ownership. Don't pay
your property tax - lose your property.

After the 2008 fiasco many banks dragged their feet for years before
trying to foreclose, even on abandoned properties. Partly due to
MERSification of America, and partly because they didn't want
to write down the value of their loans. As a result, properties that
might have been salable turned to **** that could only be torn down.


Hey, would you foreclose on a Superfund site? Not me. Banks are not owners, and they don't have to foreclose if they don't want to. You could also make the same argument with property tax liens or judgment liens or whatever other lien is attached to the property. All of those creditors should step in and restore the grandeur of that POS goat shed in a swamp! And let's not forget about the headache of evicting the goats.

-- Jay Beattie.


Ads
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tubes on Sale at Pricepoint Today, 5/$9.98 SMS Techniques 5 November 28th 12 07:18 PM


All times are GMT +1. The time now is 12:14 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 CycleBanter.com.
The comments are property of their posters.