Special Report: The latest foreclosure horror: the zombie title

[subking]

Not really the home has major problems with the foundation, basement leaks alot and has cracks in the walls, the garage is sinking and has water issuses, also the home has had no updates since the early 80s and is in poor condition on the inside, driveway needs replacing, patio needs replacing, past due taxes, and a whole list of other things.

But even if we did stay and got a mod we still have that second and its not going away.

BOA sent us a letter saying it was being transfered to Capitial Resurgent Servicing which is a debt collector for bad mortgages but then later sent another letter saying the transfer wasn't taking place. Not sure what that means.

The home isn't worth half what we paid on the open market, and with the condition of it the home is bascially worthless. So we consider that if they do foreclose at least they won't get anything for it and will be stuck with a home thats worthless.

[tobee43]

Not really the home has major problems with the foundation, basement leaks alot and has cracks in the walls, the garage is sinking and has water issuses, also the home has had no updates since the early 80s and is in poor condition on the inside, driveway needs replacing, patio needs replacing, past due taxes, and a whole list of other things.

But even if we did stay and got a mod we still have that second and its not going away.

BOA sent us a letter saying it was being transfered to Capitial Resurgent Servicing which is a debt collector for bad mortgages but then later sent another letter saying the transfer wasn't taking place. Not sure what that means.

The home isn't worth half what we paid on the open market, and with the condition of it the home is bascially worthless. So we consider that if they do foreclose at least they won't get anything for it and will be stuck with a home thats worthless.

i think that's exactly why people are deciding to walk at this point. just not worth it. i know just from our old home being left it most likely needs, if it is even possible to fix, it has to be over 150k worth of work. it's a shame a real shame. i just should have rented it but, didn't feel right about it. should have done it, i'm sure kicking myself now.