Evasion Avoidance and losing one's home...
#1
Posted 19 June 2009 - 08:08 AM
To me this would be an example of evasion. Don't face the problem, pretend A is not A, and maybe it will disappear. When my wife had cancer it made me face several issues: 1) Her mortality, and even mine. 2) The fact that insurance that pays 80/20 isn't very spectacular. 3) If I kept doing the same thing I'd go bankrupt. 4) What were my options? I took second job. It didn't pay much but it paid enough to buy food, which released money to pay otehr items. We didn't have credit card or car payments so we were fortunate there. But the one thing I didn't do, I didn't curl into a ball, pull a blanket over me, and hope I'd wake up and the world had changed.
To that, I can truly say I have Atlas Shrugged to thank.
O43
Other Replies To This Topic
#2
Posted 19 June 2009 - 08:12 AM
A case has not been refuted until it has been stated at its strongest
#3
Posted 19 June 2009 - 09:08 AM
From your description, I can't tell if your brother-in-law is evading knowing about the impending lowering of the boom that will inevitably happen at the end of his rainbow, or if he is gaming the system.
I hope for his sake he is gaming the system.
That's not a great option, though. The best thing, of course, is to produce values and don't spend what you don't have.
Michael
#4
Posted 19 June 2009 - 11:27 AM
Ted Keer, on Jun 19 2009, 08:12 AM, said:
O43
#5
Posted 19 June 2009 - 12:13 PM
Three and a half years ago I had the choice to let my Mother die in the hospital or not. I would only have done that for her benefit. There would have been benefits to me I didn't even think about but if I had and had let her die I'd be a broken man today.
--Brant
#6
Posted 19 June 2009 - 01:01 PM
Oh, so easy to use...like crack.
#7
Posted 19 June 2009 - 10:52 PM
Over43, on Jun 19 2009, 09:08 AM, said:
To me this would be an example of evasion. Don't face the problem, pretend A is not A, and maybe it will disappear. When my wife had cancer it made me face several issues: 1) Her mortality, and even mine. 2) The fact that insurance that pays 80/20 isn't very spectacular. 3) If I kept doing the same thing I'd go bankrupt. 4) What were my options? I took second job. It didn't pay much but it paid enough to buy food, which released money to pay otehr items. We didn't have credit card or car payments so we were fortunate there. But the one thing I didn't do, I didn't curl into a ball, pull a blanket over me, and hope I'd wake up and the world had changed.
To that, I can truly say I have Atlas Shrugged to thank.
O43
Interesting post. Out of curiosity, is the house "under water", mortgage higher than any probable sales price?
Have they thought about a chap 13 filing?
Is is worth staying in that community for the kids schools? People with kids by schools not houses.
Adam
#8
Posted 20 June 2009 - 10:05 AM
Selene, on Jun 19 2009, 10:52 PM, said:
Over43, on Jun 19 2009, 09:08 AM, said:
To me this would be an example of evasion. Don't face the problem, pretend A is not A, and maybe it will disappear. When my wife had cancer it made me face several issues: 1) Her mortality, and even mine. 2) The fact that insurance that pays 80/20 isn't very spectacular. 3) If I kept doing the same thing I'd go bankrupt. 4) What were my options? I took second job. It didn't pay much but it paid enough to buy food, which released money to pay otehr items. We didn't have credit card or car payments so we were fortunate there. But the one thing I didn't do, I didn't curl into a ball, pull a blanket over me, and hope I'd wake up and the world had changed.
To that, I can truly say I have Atlas Shrugged to thank.
O43
Interesting post. Out of curiosity, is the house "under water", mortgage higher than any probable sales price?
Have they thought about a chap 13 filing?
Is is worth staying in that community for the kids schools? People with kids by schools not houses.
Adam
Behind on payments, as I earlier stated, and they can't sell the house and get enough to pay off the mortgage.
O43
#9
Posted 20 June 2009 - 10:12 AM
Over43, on Jun 20 2009, 09:05 AM, said:
O43
They can ask their attorney to ask the bank if they can do a short sell. If the bank agrees and the house is sold the difference between the lien and net sales price will be reported as income to the IRS and they'll have to pay taxes on that. They best rent as soon as possible before their credit is destroyed or the new owner might want them to continue as his tenants.
--Brant

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