We’re aware that the president has a busy day planned in Phoenix today and that he wanted to see genuine Arizona foreclosures while he’s in town. He might not have time to shop around, so L thoughtfully dug up this little gem in Mesa for him to see: [MLS #4111966]
L says of this property-
The property sold in 1995 for $61,000. It was financed for $205,000 in 2006, and foreclosed on in 2007. It resold for $155,500 and foreclosed on again in 2009. It is now on the market for $52,900.
Here’s the sales history-
And the general state of the neighborhood: [Gavels are foreclosures.]
A couple of questions for you though Mr. President. First, look at the sales history on this house. How would you have saved the borrowers who bought this place. Next question- why would you?
Next Question – Why would you?
Because the president I voted for decided to help people who took wrong decision (decision of buying house or refinancing even then can not afford loan) and guy like me who can buy thought this is risky and waited. I am getting punished for selecting him as president.
check out the history again. specifically the names and the quit claim. it looks to me like it was a family that just found ways to drain every dollar out of it while keeping it in their family!!! (from 95-06)
AZSALUKI,
I think that might have been the point twist was making. The bubble promoted so much fraud that it is unbelievable how you could keep people in their homes.
No amount of stimulus could keep Alicia happy since she only seems content extracting tens of thousands of free money. Is that what our country is out to support?
Chuck
Igor says “ABSURD”
Yes, our country is here to support most everyone who wants a free ride. Fraudsters go to the front of the line, (the bankers did), that’s the lot politicians hang with anyways.
Twist, what is the source of the Gavel pic?
1st thing that came to mind was craphole when I looked at the Ziprealty listing. Then, I thought at 150-200k, a fraudulent craphole.
angryrenter – Obama and Congress are having a grand time with their war on savers. I feel like I am doing something wrong living below my means and watching people with ill gotten gains get legislated even more.
Igor says “bitter”, hell yes I am!