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View Diary: Your Tax Dollars Just Paid For Armored Vehicles and 100 Law Enforcement Personnel to Evict A Family. (72 comments)

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  •  Actually (4+ / 0-)

    He missed over $250,000 in payments.  The market value of the house is less than half of the purchase price.  His equity is negative.  Foreclosure might actually be the smart move here. See upthread.

    Things work out best for those who make the best of the way things work out.

    by winsock on Thu Dec 27, 2012 at 07:02:01 PM PST

    [ Parent ]

    •  Yes. (2+ / 0-)
      Recommended by:
      jpmassar, winsock

      Foreclosure and not making payments for four years is ok considering his situation.  

      If he owes 250k plus penalties taxes and interest, it's no wonder B of A wouldn't do a workout.  

      The timing is terrible, yet I've heard much worse stories than this one.  I don't care much for BOA regardless.  

      "If the misery of the poor be caused not by the laws of nature, but by our institutions, great is our sin." Charles Darwin

      by Rockydog on Thu Dec 27, 2012 at 09:51:52 PM PST

      [ Parent ]

      •  I would think that moving out, before the (3+ / 0-)
        Recommended by:
        Rockydog, jpmassar, winsock

        foreclosure and the police involvement actually takes place, could have been much better for the whole family.

        Mother Teresa: "If we have no peace, it is because we have forgotten that we belong to each other."

        by Amber6541 on Fri Dec 28, 2012 at 06:58:36 AM PST

        [ Parent ]

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