Man Bulldozes His Home Slated for Foreclosure - 03.08.10 | Zenet Negron : First Priority Financial : Stockton, CA

5pence: (March 09, 2010 9:11am)

Thanks opinionsRus: It's typical when others attack for no reason that they're trying to hide their lack of knowledge. Nothing is free? Where have you been pear10? The banks have been getting free money, tons of it. You might try catching up with recent events to appear intelligent and more than just a mindless, baseless protester of facts that assault your distorted perceptions.

opinionsRus: (March 08, 2010 8:24pm)

to pear10... we DO have a stockpile - where have you been? we have 10 years of refined oil stockpiled with up to 40 years of oil at our dispense.

pear10: (March 08, 2010 7:30pm)

5pence - Where did you get your information from. We dont have a huge surplus of oil in this country. I also fault the government for this by restricting us the oppourtunity to go get it. As far as the America of old - I seriously doubt you would know much about it when your babble is full of "FREE HEALTHCARE & COLLEGE" nothing is free - grow up and get to work!

5pence: (March 08, 2010 7:21pm)

I just wanted to say, you guys are excellentamundo

Ezradams: (March 08, 2010 5:58pm)

Valuequester: Great stuff from my favorite movie of all time....Animal House!

5pence: (March 08, 2010 5:37pm)

The unemployment rate is less than expected and what happens? Speculators drive up the price of gasoline. I'd guess the reasoning is more people working means more gas....??? Nevermind that we have huge stockpiles of oil and gas and as it is gas prices are not market priced but speculatively priced. Ready for $4-$5 gas again based on speculation? The Fed raises the bank rate .25 of a point and it doesn't affect long term rates - what happens? Speculators drive the market down as they know a stronger dollar will weaken the economy - even though everyone knew it should have no effect. Speculators said housing prices would always go up - against common logic. So they bet the bank and all the taxpayers money. That's your capitalism. It's a speculation by the greedy to amass wealth at the expense of others. I remember when Cali had a power problem and it was due to speculators & exotic instruments. There were recorded conversations where the speculators were laughing at grandma in the cold.

5pence: (March 08, 2010 4:51pm)

Valuequestor & common sense, this is not the democratic country I knew. Defend what you will, the government is bought and sold. The banks have obtained absolute power and authority. We know this because nobody was punished for their crimes, they were bailed out with taxpayer funds so they didn't lose any money and they were given more money and power that they lobbied against us with. The financial terrorists have kidnapped democracy and the ransom is all the wealth and abundance of this nation-and it doesn't end there. They've stolen trillions-trillions that could have been used to give us all free health care and college. Instead it goes into bankers pockets. Don't confuse America of old for what it is now. They're as different as night & day. The largest debtor nation in the world and a day is coming when no country will buy our debt-what then? 3rd world status? Our biggest export is debt. Some posters say that you better stock up on guns, ammo, beans & rice. Might be good advice.

5pence: (March 08, 2010 4:38pm)

Valuequestor: America isn't a democracy anymore-it's a capitalist kleptocracy. Inflation & deflation of the currency leads to speculations that are injurious to habits and character of the people. Andrew Jackson: If your currency continues as exclusively paper as it now is, it will foster this eager desire to amass wealth without labor; it will multiply the number of dependents on bank accommodations and bank favors; the temptation to obtain money at any sacrifice will become stronger and stronger, and inevitably lead to corruption, which will find its way into your public councils and destroy at no distant day the purity of your Government. VQ - Did he indict our way of life over 100 years ago? Pre-Fed inventiveness didn't depend on bankers. Look at Edison and Tesla. Salk invented the polio vaccine that he gave away when if he was a capitalist he could have made billions. But he did the right thing. Capitalists speculate and do the same wrong things over & over again to our hurt.

Valuequestor: (March 08, 2010 2:29pm)

Hey, Lisa Crown just gave me an idea. Cross advertising. "Will E. Maekit $$ Appraiser -- Sailing Lessons Available and Saturday Discount Nail Salon"--- Appointments Only --- I can't compete with her looks though.

Valuequestor: (March 08, 2010 2:22pm)

theauggrp: Not bad if you look at it that way. But don't hold your breath.

Valuequestor: (March 08, 2010 2:20pm)

Come on ! just save your name. Its three extra keystrokes! You can think about what you want to say while you type them in.

theauggrp: (March 08, 2010 1:40pm)

$15.00 X 24 = $360.00. WHAT'S THE PROBLEM ?

Clulessdad: (March 08, 2010 1:40pm)

Frank-Ok-can the system keep us logged in a while longer? Maybe a day?

frankgaray: (March 08, 2010 1:28pm)

clueless... it probably logged you out. once you log in, you're actually logged in to www.thinkbigworksmall.com. as long as you're active it will keep you in, but if you go idle for too long it will log you out.

Clulessdad: (March 08, 2010 1:26pm)

Frank-I posted at 12 noon and now came back to place another comment and had to log back in. It is 1:25pm

Valuequestor: (March 08, 2010 1:08pm)

There has been lots of talk again about bad Capitalism, Bad Appraisers and Bad Mortgage Brokers. Ladies and gentlemen, I'll be brief. The issue here is not whether we broke a few rules, or took a few liberties with our female party guests - we did. But you can't hold all appraisers and brokers responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn't we blame the whole Lending & Mortgage system? And if the whole Lending system is guilty, then isn't this an indictment of our Banking & Lending institutions in general? I put it to you, 5pence and AsiaTravler - isn't this an indictment of our entire American society? Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the United States of America. Gentlemen!

frankgaray: (March 08, 2010 1:06pm)

nephase - he want's it to be a "stand alone" agency rather than housed by the Fed Reserve or the Treasury.

frankgaray: (March 08, 2010 1:04pm)

I think what is going on is that "Lenders" are getting the extension, but Brokers will wind up being exempt when it comes down. The memo from HUD said "correspondent" lenders, so they are talking about the funding source or the big eagle guys, not the mini eagles... i think..

frankgaray: (March 08, 2010 1:03pm)

No you don't have to log on with every comment. It's not working that way for me anyway... anyone else? If so, yes we need to fix that.

Clulessdad: (March 08, 2010 12:00pm)

newphase-he wants the brokers to retain fiduciary responsibility and have "skin in the game."

Clulessdad: (March 08, 2010 11:42am)

Do you have to login with every comment? not very user friendly. Here is a new one on Stevens. FHA to the Mega-Lenders: Loosen Your Quals for Minorities The Federal Housing Administration commissioner wants the nation's largest originators to loosen their underwriting standards, allowing more minorities to qualify for government-backed single-family loans-HUH???????????? Does this really say what I think it is saying?

apple bottom: (March 08, 2010 11:20am)

The audit extension letter is in FHA Connection under the message board. It posted on 03/05-renewal of FHA Approval for Loan Correspondents.

newphase: (March 08, 2010 11:07am)

I am an appraiser and have emailed the 20/20 discusstion to Bill O"Reilly and Rush and Glen Beck I did not get any reply from anyone but Glen Beck He emailed me back within a few minutes His email is me@glennbeck.com and the discussion is at ABC at 20/20 the AMC's Appraisal Management Companiea The web site is http://www.facebook.com/topic.php?topic=13795&post=71360&uid=163497464933

joecolorado: (March 08, 2010 10:38am)

just reiterating what was in the newspaper this weekend,and what does a brit's opinion of england as stated have to do with anything I wrote?There is no need for insults,but even you say you "own property in China", you mean that you have a lease on it?but I dont get it,Isnt that the gist of what I was trying to say?

Clulessdad: (March 08, 2010 10:32am)

Interesting about HUD and the renewal audit. Seems like Stevens said not to do it, now they are requiring it. Seems like I remember him saying that FHA was not implementing HVCC. And they did anyway. I am not sure I can believe anything he is saying about brokers.

newphase: (March 08, 2010 10:28am)

Frank and Brian What is it that Barney Frank wants before he scraps the CFPA

AsiaTravler: (March 08, 2010 10:13am)

Joecolorado, WOW do you know anything about China?? First, you can’t truly own a home in China. The government simply leases you the rights for so many years the same as they did with Hong Kong to the British. But this is what they call “owning”. As much as it is hard for you to believe it is very much a capitalist state. You must qualify for home purchasing and the loan the same as you do here by their lender. The government is only involved when relocation is involved because of redevelopment of a community and the government revokes the lease rights for the greater good. They then make sure the “homeowner” receives a fair trade for their current home. Meaning if it was a 2 bedroom they would receive another 2 bedroom in the relocation project. I own property in China! Try to be more educated on topics before posting – don’t need to pull a Maxine Waters amongst peers. By the way many Brits living in China consider England more Socialist than China!

jcollins: (March 08, 2010 10:04am)

new phase< I believe the new log in does a couple of things. It will stop or slow down the bad language and it will drive up the membership for TBWS

joecolorado: (March 08, 2010 9:32am)

strangely enough a monopoly IS the communist system.And by the way,red China has subsidized housing where the inhabitants can OWN their home, but the government doesnt just give it to them, they have to earn it by hard work a downpayment and the ability to repay the loan proven BEFORE being given by THE GOVERNMENT.I wouldnt however like to be in the householders shoes if and when there was a default. Hong Kong is also a communist bloc, but even the stupidest communist reealized that there was gold in them thar hills when it was returned to Chinese rule from the British.The Chinese have done very little with the system as Hong Kong is still there! and still as important in the south east asia world and the western world....go figure. I am not a communist but hate the way the capitalist society we belong to is going to the dogs.

joecolorado: (March 08, 2010 9:20am)

Thats just on the outside. Just like a book, you have to open it to find out what it contains....LOL

jcollins: (March 08, 2010 9:16am)

I should spell check a little. Sorry, hopefully you could read through the mess.

jcollins: (March 08, 2010 9:14am)

Capitalism is THE excuse for immorality. What is inmoral about allowing someone who wants to better themselves the chance. Without Capitalism you would not have have most of the medical break throughs, (saving lives, inmoral) morden convienences (easier living, inmoral) obviosly, this could go on and on. Why do people want in to the Capitalist countrys and not the others. I do agree if you are talking about on controled capitalism. Monopoly never works out for everyone. But, it is the most moral thing we have going. I like my freedoms. Nut, with them I know comes responsibilties to be the best I can.

CornerstoneKathy: (March 08, 2010 9:13am)

Ahh Thanks Frank much better! and joecolorado..you just ruined it for me..I was picturing you as this hot athletic outdoorsy type guy

frankgaray: (March 08, 2010 9:05am)

if you need to change your password, go to www.thinkbigworksmall.com and there you can do the ol' "click here if you forgot your password" and it will reset it. Then you can log on to think big work small and go to your profile and change it.

newphase: (March 08, 2010 9:00am)

I just looked at 20/20 and there page could use more blogs the web address is http://www.facebook.com/topic.php?topic=13795&post=71360&uid=163497464933

CornerstoneKathy: (March 08, 2010 8:55am)

Sorry I think I have A.D.D but can I change my password to something I can remember easily?

newphase: (March 08, 2010 8:52am)

Just dont understand why do you have to log one now to place a blog. I didnt remember my password and had to change my email address to my company and not to my personal Why the change and if you notice your blogs are few

Seriously Speaking: (March 08, 2010 8:41am)

Barney Frank - LOL Why do we continue to elect people that would have trouble being a Barista (no offense to Barista's but goes good with todays theme) head up a Finance Committee??? How is it that Unethical people like Dodd can be part of this committee but find nothing worng in payoff's to Countrywide for his mystery Super Jumbo loan that went NINA at lower rates than std conventional??? Its just flat WRONG! With the bulldozer guy, if he borrwed the money then its NOT his house to demolish and the dumb-ss is most likely going to jail over that stupid and ill thought out stunt. The only way he brought this from "out of the ground" to begin with is from a loan that he gave his property as collateral for. Yeah I feel for him but his actions are flat WRONG!

sus92691: (March 08, 2010 8:39am)

Thanks to all for adding your comments on 20/20's facebook. We need more comments on 20/20 & also on all the National News Blogs....We need 1,000's to comment to get our message out. We need to work within our individual states...New Mexico has the best Legislation...but no provision for appraiser stated fees/or direct pay..... We have a lot of work to do....

Common Sense: (March 08, 2010 8:35am)

You guys are nuts. You just admitted that bulldozer boy had an offer for more than he owed, but apparently thought the lender should pay the Realtor fees or something. He couldn't have been very short. 5pence thinks capitalism is bad. He thinks capitalism treats people like chattel. Show me a socialist country where they even let people own homes at all. Would 5pence rather work in a government factory and live in a government tenement? Well, it just so happens, 5pence likes to post to message boards. Oops! Off to a re-education camp for you!

investorrelations: (March 08, 2010 8:33am)

On the person that bulldozed his home...question is... does this person think by doing so that's going to erase his debt owed. Some people lack common sense.

mark: (March 08, 2010 8:18am)

They cannot decide what the rules are going to be form brokers to renew with HUD? Seriously - they just want our $500

joecolorado: (March 08, 2010 8:17am)

justfrank101-I empathize with your plight,and I am sorry that you are at the end of your rope.I am a tad more lucky as I can be a little more descerning as to which orifice is utilized.....so far.....I dont know how much longer I can hold out though.

joecolorado: (March 08, 2010 8:13am)

5pence-the statements you have made can't be discussed any further as they are self evident!that's not to say your opinion isnt valued of course,I just cant improve on your last statements as they hit my opinions exactly.Now I gotta go for a little while to see if I can beat out everyone else getting to that $15 per hour appraisal position.MOVE OVER EVERYBODY, I am an old fat ugly guy with a purpose.

JUSTFRANK101: (March 08, 2010 7:49am)

no potty mouth just straight talk. craigslist employment offer to an appraiser willing to rip through an appraisal in 24 hours is not as uncommon as one may think. We recently decided being broke sucked so we applied with 158 Appraisal Management Companies. Of those 158, 70 were no longer in business, 30 did not respond, 22 offered a quality application and a sincere business opportunity and the rest, well let's just say their idea of what an appraisal process was lead to dish water appraisals. We still hate the idea of being in the business of prostitution but what the heck if we are going to continue to get screwed we may as well get paid.

PA-Appraiser: (March 08, 2010 7:48am)

Does anyone have the CraigsList postingID for the appraiser job? Appraisers should forward the posting to their organizations and state boards to let them know how low the profession has sunk. Besides, I could use the $15 :)

5pence: (March 08, 2010 7:46am)

OK, no one seems to want to post when I post - so, I won't post. Have a good day.

5pence: (March 08, 2010 7:45am)

China hinted today they're going to stop pegging their dollar to the US dollar. Do you know what happens when that happens? The US is already at it's borrowing limit with the world and China is selling some of it's US debt. I'd suggest hedging against the dollar by buying into some precious metals, at least. The dollar is not going to get stronger at this rate and with Bubble Ben not able to raise interest rates to strengthen the dollar or it would ruin the recovery, it can only get weaker eventually. As far as the tires, the Big 4 banks are slumlords. They're not foreclosing in a timely manner & leaving homes vacant for a year. They are ruining home values by doing that but hey, they can book more revenue for their investors and their bottom line. Screw declining values in neighborhoods & community revival, it only gets in the way of profits. There's a small city out here that has 100's of foreclosures that have been sitting empty for a year. Shadow inventory is coming to get ya.

5pence: (March 08, 2010 7:20am)

Bulldozer guy says if I can't have it you can't either. I can appreciate that. They ruined his credit by not accepting an offer for what the bank was owed as foreclosure paid better, per dmeansjr. If that's the case where does the money come from for the bank to profit? From us. Capitalism appears to be an excuse to treat people like chattle. Barney is doing the right thing. They want to house the CFPA in the Fed?? That's just insane. Talk about putting the fox in charge of the henhouse. I'd suggest housing them in the FBI or DOJ to keep them on their toes and make sure they're doing their jobs. If they're put under the Fed or FDIC or Treasury, the regulation will mean nothing. You think if the CFPA says a bank is too big to exist the housing agency won't step in? It will just make the CFPA another toothless money pit for the taxpayer and will be able to do nothing to stop the next meltdown. Saw Capitalism-A love story this weekend. Excellent. Capitalism is THE excuse for immorality.

jlevy: (March 08, 2010 6:50am)

Chase probably foreclosed on that tire yard!

LivingInDC: (March 08, 2010 6:48am)

It takes every kind of people to make the world go around... some are brighter than others.

mark: (March 08, 2010 6:47am)

As proposed in a November 30, 2009, proposed rule (74 FR 62521), HUD is seeking to eliminate FHA approval for loan correspondents. Because this rulemaking is still in process and a final rule has not yet been issued, FHA is extending the deadline for the submission of audited financial statements for loan correspondents seeking renewal of their FHA lender approval for 2010. For loan correspondents with a fiscal year end of December 31, and that would ordinarily be required to renew their FHA approval by March 31, 2010, HUD is providing these lenders with an additional 30 days in which to submit their audited financial statements. These loan correspondents must continue to comply with existing requirements for the submission of their Annual Certifications and renewal fees, but will be given until April 30, 2010, to submit audited financial statements. Again, the deadline for the submission of the Annual Certification and renewal fee has not been changed. Loan correspondents that do not complete their renewal in accordance with the deadlines as specified above will no longer be FHA-approved as of the effective date of the final rule that follows the November 30, 2009

jcollins: (March 08, 2010 6:40am)

Why if we have alreay signed in do we need to also tyoe out the code?

frankgaray: (March 08, 2010 6:39am)

thanks for hanging with us on the chat register.

jcollins: (March 08, 2010 6:38am)

Part 2. Loan correspondents that do not complete their renewal in accordance with the deadlines as specified above will no longer be FHA-approved as of the effective date of the final rule that follows the November 30, 2009, proposed rule. If you have questions regarding this issue, please contact the FHA Resource Center by email at info@fhaoutreach.com, or by telephone at 1-800-CALL-FHA (1-800-225-5342). Persons with hearing or speech impairments may access this number via TDD/TTY by calling 1-877-TDD-2HUD (1-877-833-2483).

joecolorado: (March 08, 2010 6:38am)

But,you can be sure the investor will be looking into the fact that the ap88r has app88d a home which now has condition issues and the ap88rs E&O will be the honey pot. Hope the ap88r took a lot of internal photos to help prove his/her ap88al on review.What a selfish petulant idiot,blaming someone else for their stupidity and making us all shoulder the costs of the investors loss.I can't have afford to pay back the money I borrowed against the house but you can't have it either...how old is he....7...Thats ok when its a ball in a playground,but just shows me the mental capacity of the bulldozer guy,he should be prosecuted to the fullest extent of the law.

jcollins: (March 08, 2010 6:37am)

Email I get from HUD part1 As proposed in a November 30, 2009, proposed rule (74 FR 62521), HUD is seeking to eliminate FHA approval for loan correspondents. Because this rulemaking is still in process and a final rule has not yet been issued, FHA is extending the deadline for the submission of audited financial statements for loan correspondents seeking renewal of their FHA lender approval for 2010. For loan correspondents with a fiscal year end of December 31, and that would ordinarily be required to renew their FHA approval by March 31, 2010, HUD is providing these lenders with an additional 30 days in which to submit their audited financial statements. These loan correspondents must continue to comply with existing requirements for the submission of their Annual Certifications and renewal fees, but will be given until April 30, 2010, to submit audited financial statements. Again, the deadline for the submission of the Annual Certification and renewal fee has not been changed.

dmeansjr: (March 08, 2010 6:37am)

I read he owed 160k, received an offer of $170k and communicated that to his bank. The bank refused, stating that they could get more by selling it in foreclosure (worth 350k) a hero, no... but he makes a hell of a statement.

Common Sense: (March 08, 2010 6:30am)

When the bulldozer man got his loan he signed an agreement to give up the house if he failed to pay back the loan. What he has done is a crime and I hope he is prosecuted. Would you guys be excited if he torched a car that was about to be repo'd?

joecolorado: (March 08, 2010 6:30am)

What an idiot, bulldozer guys just doesnt get it-He doesnt own the homne he just bulldozed until he finished paying for it!No person owns the home they occupy until the mortgage is paid off in full.They have no full right to "own" the property until its paid off, until then, they are renting with occupancy rights due to the "rent to own amount" they are paying monthly with the end option to own thats all.

qbsack12: (March 08, 2010 6:23am)

The average age of appraisers in Ohio is 60. Yes 60. Only 17% of appraisers are 40 and under. And there hasn't been a flood of new applicants to be appraisers in the last 5 years. Not only that but Ohio increased it's criteria to become one. I would imaginge a shortage is coming soon.

dan: (March 08, 2010 5:59am)

$15.00 per hour....Wow! So after I pay for E & O, CE, License renewal, data, gas, MLS membership, software, etc, etc....I'll have nothing! That greeter job at Walmart is looking better everyday.

gt: (March 08, 2010 5:58am)

The "BullDozer" man does not surprise me at all...I'm just surprised we haven't seen more of it. I don't believe we're going to have a "credit bubble" as much as we're going to have a credit revolt. I think we will see mass default of credit on ALL levels Mortgage and Personal credit. They have it coming! The way the Credit Card Companies almost universally raised their rates prior to the new laws taking effect shows that they don't care. So quite frankly...why should we? There was a time that bankruptcy carried a negative stigma; it may well become a medal earned in battle! When my CC Rate went to 29% for never missing a payment it occurred to me that Loan Sharks only charge 30%! Go figure?

Robby850: (March 08, 2010 5:55am)

my favorite part is that the media will make this guy a hero... But really he just didnt pay. Dont pay your bills... be a hero! He probably did a cash out refi a few months ago.

MORTGAGEBROKERGAL: (March 08, 2010 5:53am)

I have experienced people stripping their property of all appliances, bathroom fixtures and even built-in hot tubs, but bull dozing is a first! More of this will occur if appraisers have to work for $15/hour just to feed their families.

MIRealtor: (March 08, 2010 5:04am)

As a Realtor working with foreclosures I thought I've seen it all!! Bulldozing is a first!!

Real Estate Nate: (March 08, 2010 4:53am)

As a Realtor working primarily with distressed homeowners, I'm not sure the gov't is really doing anything to help most individuals avoid foreclosure. Possible proof is this info released by FICO: http://bit.ly/crbufx

dpapiernik: (March 08, 2010 4:31am)

Check this out. One of the top 50 Jobs to have in 2010....drum role.....LOAN OFFICER. This is per US NEWS. Check out the link http://www.usnews.com/money/careers/articles/2009/12/28/loan-officer.html

Jersey Girl: (March 08, 2010 4:10am)

This world is NUTS! :)

mparic: (March 08, 2010 1:42am)

Don't forget, you'll need to log in with your TBWS Account or sign up for a new one for free to post to the Discussion boards.