Information on recently repossessed homesgreenspun.com : LUSENET : Repossession : One Thread
There is a house in a 'highly sought after area' that I have my eye on and my parents, who live accross the road, think the previous owners have done a runner - is there an agency who can advise me whether it is a repossession?
-- Mrs Caraline Stevenson (email@example.com), May 04, 2000
The home-repo web site is there to help unfortunate people who have had their homes repossessed, NOT to assist leeches like you.
-- (xyz.minerva.@tinyworld.co.uk), May 19, 2000.
This is a rather vexing issue.
About a year ago I asked readers of the site's newsletter if they thought it would be helpful for me to add a way that they could advertise their repossessed home or soon-to-be-repossessed-home on the site. The idea was that it would give us a way of recording offers and maybe showing that lenders to dump repossessed property at lower prices than they should. In some cases it might give us a way of actually selling the home for more than a lender would. At the end of the day it would reduce the potential shortfall claim that any lender could lay on its customer.
The response was overwhelmingly in favour of the idea and the only reason I haven't done it is that I couldn't find a way to do technically at the time. I could now but it would be time consuming to do at the moment.
I still welcome the opinions of all readers on this.
-- Lee (firstname.lastname@example.org), May 19, 2000.
Yes, fair comment (about 'leeches'), but the point that people chase after repo'd property is because they know it's going to be sold for below the market price, and this of itself surely shows quite well that repossessed homes *are* dumped cheap on the market. Lee's quest is for detailed information, to demonstrate a pattern.
-- Eleanor Scott (email@example.com), July 13, 2000.