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Bailout effects
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<blockquote data-quote="flutterbee" data-source="post: 199026"><p>I'm worried about the house I rent. The owner bought 3 houses in this town in October of last year. The husband bought them and then I'm assuming quit-claim deeded them to his wife because the auditor's website shows the purchase in his name and then the 'sale' to his wife and the dollar amount was $0. They spent a great part of the year in California. I am hoping that they paid for the houses outright, but I have to think with buying 3 in a month that they got mortgages. 2 of the houses they bought were in foreclosure. This one was going cheap because the family was selling it as the owner went into a nursing home. So, it was absolutely taking advantage of the low prices - an investment - can't blame them for that. But, what if their money is tied up in the stock market and they lose the houses? I'm out of a home in that case and a lot of people in these situations aren't finding out until they're served with eviction papers from the court filed by the banks. Or what if they dramatically raise the rent?</p><p></p><p>It's scary times.</p></blockquote><p></p>
[QUOTE="flutterbee, post: 199026"] I'm worried about the house I rent. The owner bought 3 houses in this town in October of last year. The husband bought them and then I'm assuming quit-claim deeded them to his wife because the auditor's website shows the purchase in his name and then the 'sale' to his wife and the dollar amount was $0. They spent a great part of the year in California. I am hoping that they paid for the houses outright, but I have to think with buying 3 in a month that they got mortgages. 2 of the houses they bought were in foreclosure. This one was going cheap because the family was selling it as the owner went into a nursing home. So, it was absolutely taking advantage of the low prices - an investment - can't blame them for that. But, what if their money is tied up in the stock market and they lose the houses? I'm out of a home in that case and a lot of people in these situations aren't finding out until they're served with eviction papers from the court filed by the banks. Or what if they dramatically raise the rent? It's scary times. [/QUOTE]
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