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Sunday, July 24, 2011

$16.00 for a $300,000 + home; ONLY IN TEXAS?

You guys absolutely MUST read this article
HERE & HERE
about a man in Texas, who spent 3 years researching the law
and finding exactly the right property.








In Texas we have many very old laws still on our books, and this is one
of them.  I admire the tenacity of this gentleman to find a way around the
foreclosure problems which are rampant across the USA.

A seemingly abandoned house now has someone living there who needed a 
home and will take care of the property.  My only problem with this is the
poor family who walked away.  Maybe if they had stayed, the mortgage company
would have been defunct, and they would still have a home.  

Somehow, I find it terrible that all the financial institutions were made to
write down their MBS's (mortgage backed securities), but the
homeowner's who owed the money have not been cut any slack.

How could this be right?


To my American readers, please try to watch
Dylan Ratigan
on MSNBC 3pm Central trime.

He is the ONLY newsperson who understands what has happened to
our country and is actually trying to do something about it.

xx's





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4 comments:

  1. What a story - so sad for the people who lost their house and hard for the neighbours to have their neighbourhood the focus of such media attention.

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  2. Wow that is a crazy story. On one hand you have to admire his tenacity but on the other is this someone who is working and earning a living, someone who is doing his best to make an honest living and support his family? Or looking to pull one over on the government and not pulling his weight. I would like to know more about him as a person before I judge what he has done which appears to be full well within his legal rights. Crazy and yet as I so often say...only in America!

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  3. It is amazing Marsha. I have seen so many have their mortgages balloon while property values dropped like a rock.

    A bit like this ecomomy with gas, groceries, and everything else going up during a recession.

    xoxo
    Karena

    Art by Karena

    ReplyDelete
  4. I think Ratigan is smart but is to verbose. He can say what he needs to say without using so many words.

    ReplyDelete

Thank you so much for your wonderful comments, each of them mean so much to me. After all, the interaction is the reason we blog. xx's