Real Estate and foreclosure thread

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Casey Jones said:
As has been discussed to death, it makes no sense in reality - hundreds of thousands in increased interest cost, to drop payments a few hundred dollars.
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It seems like the worst case of marrying a rental with no legal way of leaving before the 50 years are up. When I was in the home loan game, 15 years was my absolute maximum. Anything longer was just fucking stupid.
 
Time to hunt up another home insurance company, or decide if I want to be uninsured, I own the place free and clear...insurance companies suck.
 

Landlord Phil Pulley transferred ownership of West Philly apartments days before suspected arson, records show​

Two days before an apartment complex once hailed as a shining example of Philadelphia’s urban renewal went up in flames, its owner, embattled city landlord Phil Pulley, transferred the vacant property to a New York investment firm.

Federal investigators are treating the fire as arson.

The property’s new owner, Aureus Special Asset Management, which records show is linked to investors in South Korea and Saudi Arabia, is now demolishing the West Philadelphia structure, known as Admiral Court.

Earlier this year, Pulley faced a $29.4 million foreclosure over unpaid debts linked to a fizzled redevelopment of Admiral Court and an adjacent complex, Dorsett Court. Instead of seeing investors foreclose on the property, he agreed to transfer both apartment complexes to his lenders.

More:

https://www.msn.com/en-us/money/rea...son-records-show/ar-AA1R2kd5?ocid=socialshare

Phil is quite the character................

Fannie Mae sues embattled Philly landlord’s affiliates for $60M

Philadelphia landlord Philip Pulley is facing a Fannie Mae suit, charges of voter fraud and accusations of being a slumlord.
therealdeal.com

Montgomery County Man Pleads Guilty to Election Fraud Offenses

www.justice.gov
 
Transferring the assets to the lender has been one of the methods these guys are using to hide losses. Also for lots of private equity deals they just call it Payments in Kind. Well, I think that's slightly different but another similar procedure.
 

Properties around Temple U weren’t selling — until a real estate agent nearly doubled the asking prices​

It’s no secret that times are tough for landlords around Temple University.

An eight-bedroom rowhouse on 1734 N. Gratz Street, for example, languished on the real estate market after being listed for sale, like many dormlike apartments left in the wake of a rental boom that fizzled amid declining student enrollment.

The property went up for sale in April 2024 for $475,000 — $40,000 less than the owner had paid two years prior. It sat on the market for one year with no takers.

Then real estate agent Patrick C. Fay got involved.

In April 2025, the Gratz Street rowhouse was relisted for $875,000. The very same day, it was listed as a pending sale, with Fay representing the buyer, according to real estate data from the Realtors Multiple Listing Service.

More:

https://www.msn.com/en-us/money/rea...he-asking-prices/ar-AA1SdqqC?ocid=socialshare
 
Ya know what scares me in all this? The volatility. That a place that's affordable now, can be ridiculously overpriced in a couple of years.

Or that a place overpriced a few years back, is now in pricing freefall.

That makes planning impossible.

Example: I moved to Montana twelve years ago. I was pleasantly surprised to find rents about 20-percent below what I'd seen in Cleveland and Indianapolis. Less than I paid in Eau Claire, just prior. (Buying wasn't an option at that point in my life).

Great. I'm likin' it. Except, the hoardes marching over the mountains, coming to invade, caused rents and home prices to quadruple in those twelve years.

Florida. I was down to the Orlando area (Kissimmee) in early 2022. The RV park I was at was downright cheap - and beautiful, with a friendly clientele of regular snowbirds. Hey, I'm gonna like wintering here...

Except the very next season, their monthly rates DOUBLED. From $750/month, to $1400. That put it far out of my budget.

So. Now, Florida rents are falling. What, people are gonna again move down there, and then, as NYC collapses, AGAIN be priced out of shelter? And, the DeSantis government is not forever. We forget, it was a short 25 years ago, when Jebster Shrub was Goobernor. And then, who? Charlie Crist (I always read the name, "christ", as in, oh, Christ..)?

To say nothing of their local-government problem. And HOAs-Gone-Wild.

AND, Gotham, to the north, is about to have another explosive-vomiting session, barfing out populations as a Moslem Communist with zero real-world-life experience, gets ready to relearn what has been tried dozens of times in the past.

So...no...I'll not go to Florida at this point. I'd love to winter there. I'd love to win the Lotto, too - but it ain't happening.
 
Voodoo said:
That's all caused by the ridiculousness of the money and criminal manipulations. All leading to misplaced capital.
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I would have said, the ridiculousness of fiat, criminal distribution of seigniorage, and malinvestment based on ZIRP.
 

Squatter locks out homeowner and calls it a “peaceful, hostile takeover”​

FOX 5 Atlanta reporter Denise Dillon opens her recent report with a detail that makes every homeowner with a vacant property wince: the house had been on the market for months, and the owner thought it was simply sitting there, waiting for a buyer. Instead, Dillon says the homeowner learned a stranger had moved in without permission and without paying a dime.

It happened in Marietta, at a home on Twin Brooks Court, and the owner, Adriana Ward, told Dillon she was stunned by how quickly it unfolded. One day it was a listing. The next, it was a lockout.

And then came the line that turned the whole situation from “creepy” into “how is this even real?” Dillon reports the man inside claimed squatter rights and called the whole thing a “peaceful hostile takeover.”

Over on the real estate YouTube channel Flux City, developer Edward “Eddy” Carrington takes Dillon’s reporting and zooms in on the part that bothers him most: the alleged squatter didn’t get hauled out for trespassing or squatting.

More:

https://www.msn.com/en-us/news/worl...hostile-takeover/ar-AA1StZll?ocid=socialshare
 

The Zombie Debts Making Wall Street Rich | Bloomberg Investigates​

Dec 17, 2025
A hidden housing crisis is sweeping the US as debt collectors revive forgotten mortgages to seize homes. Bloomberg reporters uncover how outdated laws and predatory tactics have left millions at risk.

34:02
 

The Housing Market Is Breaking Because Insurance Is FAILING​

Dec 26, 2025
Homeowners Insurance used to be just a very small part of your mortgage payment but today some people are paying more for Homeowners Insurance than they're paying for their principal and interest payments on their home loan. This is lead leading to a situation where a lot of people cannot qualify to buy homes simply because the insurance premiums are too high.

18:58

Articles Mentioned in the Video
- https://wolfstreet.com/2025/12/20/con...
- https://apple.news/AjUGQ5IRdRfuUtkIeV...
- https://apple.news/A6AYLhtCyRm2ol9eu8...
 
No great surprise, tons of central Florida people complaining about insurance companies jacking up rates and demanding Flood Insurance too. Roughly 20% of homeowners dropping out and self insuring.
I'm way inland and they say I must take coastal rates...fuck them.
 
20% must own debt free ....as mortgage companies want insurance certificates
 

The Hard Truth About Housing, Frugality, and Getting Ahead in 2026​

Jan 2, 2026

13:11
 
When our population emulates/resembles that of the Swedes, we can emulate Sweden.

Since our population is being Third-Worlded, we have to emulate the African republics. Lots of riot police ready with guns; or else, lots of chaos and stupid lawlessness.
 

Florida’s Plan to Eliminate HOA’s FOREVER​

Jan 4, 2026
Florida currently has house bill 657 up for approval and if it passes the house and a similar bill can pass the Florida senate there will now be a streamlined way to eliminate HOA's in Florida with a 2/3 owner approval and court supervision.

24:33

Articles Mentioned in the Video
- https://apple.news/A1Jajx3bCQ1W9GC1NR...
- https://apple.news/AxCgfuPL4QY2DEscTv...
- https://apple.news/A18ZmAtSBRIKkSu9Yk...
- https://apple.news/A_YK97fSCShmwKoNbq...

House Bill 657 (2026) - The Florida Senate

www.flsenate.gov
 
That will be a fuckup, every neighborhood will have a rat infested slum...
 
Fatrat said:
That will be a fuckup, every neighborhood will have a rat infested slum...
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So, HOA's SUCK. I will never, Ever, buy a home in one. One giant myth is that the slum on your block somehow effects your homes value. Very little evidence that has any effect.
 
Voodoo said:
So, HOA's SUCK. I will never, Ever, buy a home in one. One giant myth is that the slum on your block somehow effects your homes value. Very little evidence that has any effect.
Click to expand...
Unless you are next door to the rat infested neighbor...
 
Voodoo said:
So, HOA's SUCK. I will never, Ever, buy a home in one. One giant myth is that the slum on your block somehow effects your homes value. Very little evidence that has any effect.
Click to expand...
Yeah, I thought the real estate mantra was "buy the ugliest house in the highest value area."
So we NEED those rat infested houses.
 
Fatrat said:
That will be a fuckup, every neighborhood will have a rat infested slum...
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Enforcing housing codes, ensuring properties are kept orderly and clean, is the job of the municipality.

Not Karen's job. HOAs were a way to "privatize" code and ordinance enforcement...and it went about like you would expect. The neighborhood busybody biddies loved it; but everyone else has been pushed to his/her limits.
 
And who is to say what the HOA's direct Impact on values are. I have tried and tried to see how property taxes effect values. After all, those flow directly to the monthly mortgage payment and clearly a low tax home should be more valuable than higher taxes.

It's been very hard to find the evidence even for that though. But an infamous HOA or highly indebted HOA should very much have a negative impact on the entire neighborhood. Although, I'm not sure buyers are sophisticated enough to have an effect.
 
A long podcast on the travesty of the FHA housing programs. He basically lays out that it was nearly impossible to default and foreclose on an FHA loan up until October this past year. They basically just started paying the loans themselves. FHA would pay UP TO 30% of the total loan value. VA up to 25% of the TOTAL loan.

 
They are just PROVOKING...MAGA whites to violently revolt. WHILE hoping/nudging non-white MAGA types to revert to tribalism.

This is the fisticuffs version of Hegalian Dialectic. Create the problem, and then step forward with THE...SOLUTION!! Agenda 2030!

I wonder if they're not right - people are so torqued, now, even Moustache Man, or someone like, looks like a better alternative.
 
The numbers of that government giveaway make the Somalis look well like Somalis... Absolute small potatoes of the fraud and giveaways
 
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