CPST1

Bailout or Savvy Investment?

At 30 cents on the dollar that would be quite an offer if the MBS were a rent with an option to buy. There is a considerable amount of grey area for the tenancy at will, or that these homes must remain vacant if foreclosed against. Why move out if it can be determined that the house is a red herring property, or that, the bank that holds the mortgage is now belly up. It’s a 60 Minutes segment just waiting to happen…

One option would be to have a new sort of ecommerce business that could facilitate the functional value of the mortgage so that payments were kept current and the house was not dormant. Ideally, you could buy the house and keep the former homeowner…

So far, we’ve rented with the option to buy that allows the rent to be applied as down payment, or that it is surrendered as rent if the option to buy is not exercised. Such tenants if Indian tribal members have alternative means to secure down payment from the local tribe….

The second problem is the no-show, sub prime owner at the condominium building in Fl, because the association fees are not maintained and the cost falls onto the occupants in more ways than one. In truth, no one has ever seen any of the sub prime paper owners… The foreclosures allow however, for the units to be rented in lieu of the association fees until a new owner has contracted to purchase the unit. Fl property taxes are hellacious as are its drug traffickers.