I HAVEN'T MADE A MORTGAGE PAYMENT FOR THREE YEARS, CAN YOU HELP ME?

“I Haven’t Made a Mortgage Payment for Three Years, Can You Help Me Get a New Mortgage?”

I’m sorry, even if I could, I wouldn’t. I actually got this call today. My first reaction was to just hang up, but decided to find out some additional information.

This guy lost his overtime and started falling behind on this credit card debts, $45,000 worth. Eventually, stopped making the payments on the cards all together, $1,900 per month.

OK, if you are not making payments on credit cards, then you must be able to make your mortgage payment without any difficulty. I did that for a while, but just stopped. I couldn’t believe, he actually told me that it just felt good not paying the mortgage either. WOW

So, I asked my final question, how much do you have available as a down payment? I couldn't believe he said, “About $5,000”.

I had to be a little careful what I told him, as he was referred by an attorney, that sends me business all the time. Quite frankly, I just didn’t give a damn.

I told him, he didn’t deserve to ever own a home. Thanked him for calling and hung up.

The sooner we stamp out this kind of culture of handouts in this country, the better. The sooner we complete the backlog of foreclosures, the better.

New Crop of Foreclosures Is Coming

By: The NicheReport

(CNBC) — While fewer Americans are falling behind on their mortgage payments, the huge backlog of already delinquent mortgages is finally making its way through the banking system to foreclosure.

Total foreclosure activity rose in the first half of this year from the previous six months, according to online foreclosure sale site RealtyTrac, driven by a jump in new foreclosure actions by lenders.

“Those foreclosure starts are welcome news for prospective buyers and real estate brokers in many local markets where a shortage of aggressively priced inventory has been holding up sales activity. Markets with increasing foreclosure starts will likely see more distressed inventory for sale in the form of short sales and bank-owned properties in the second half of the year,” said Brandon Moore, CEO of RealtyTrac.

More than half of the 212 metropolitan areas RealtyTrac surveys saw increases in foreclosure starts, and of the top ten foreclosure rates in the nation, five of them were in California. Stockton still holds the dubious distinction of the nation’s highest metro foreclosure rate, at more than three times the national average. Despite their high ranking, however, all of the California metros in the top ten actually saw decreasing foreclosure activity overall. In fact, Atlanta was the only metro area with a top ten foreclosure rate to see increasing foreclosure activity in the first half of this year.