Hollywood, CA - Yep. If you've ever had a sixteen day hold on your check... If you've ever waited in line for fifteen minutes, watching the person at the window in front of you roll six rolls of pennies together... If you've ever been hit or given a door ding in the parking lot by an irate soon to be ex-customer...
And banks... it appears, now really suck at proving they own the paper on your mortgage.
So says Massachusetts.
And the results are more pain all around. Mess mess mess.
With all the bailouts, with all the broken promises, with all the fat cat Wall Street bonus stories, with all the ugly curtains in the lobbies it really is one for the little guys.
I'm not for anyone being able to stay in their home indefinitely without paying the debt they volunteered for... It's not right for people to delay for their own convenience or game the system.
And it seems also unfair for a bank to be able to kick you out for non payment if they can't prove that they own the debt. A little sniggle for the homeowner in trouble. Relief in the form of common sense in law.
Phew.
With all the bogus ratings and derivatives and tranches and the horrifying scheme that propelled an already tenuous recession type situation off the cliff, the mortgage holders did it to themselves by complicating a simple process to the point of abusrdity.
What way forward? If this court ruling leads you to believe that you can stay in your home without paying your mortgage... don't count on it. It is merely a delay that will slow things down, like recovery, and the details will be sorted out. One way or another the banks will get their money back, through short sale, foreclosure or further bailout.
If you need some info on a particular real estate related topic... gimme a call on my cell 310-272-4935
Thanks for reading this.
Vincent McEveety.
Vincent is a Real Estate Agent at Keller Williams Realty Larchmont .
Phone: (310) 272-4935. Vincemceveety@gmail.com.
.View My homes for sale at www.FindingTheHomeBeautiful.com
Vincent McEveety specializes in loan modification assistance and short sales in Hollywood California. Hollywood Loan Modification Help, Hollywood Short Sales. Hollywood Short Sale Realtor. Short Sale Realtor. Hollywood CA Short Sales. Hollywood Lofts. Hollywood Realtor. realtor los angeles.
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