wrote:
On Thu, 31 Jan 2008 06:27:41 -0500, HK wrote:

Good. They ought to be stuck, but good.
the problem is that a lot of them really don't have much money in the
game and they just walked away leaving that long list of banks holding
useless paper and a house they can't sell. The 60 minutes piece
pointed out these loans were consolidated so many times it is hard to
figure out exactly who actually does own any given house in
forclosure. As I said before, big builders were getting huge blocks of
money from fund operators and they lent it out through their in house
mortgage company. The fund holds all the paper but the individual
investors have a hard time sorting them out when the fund fails.

Sure it is a problem, but the multi-house buying speculators should pay
a penalty in addition losing the little bit of money they "invested" in
hopes of using borrowed money to make a killing. Perhaps that penalty
will merely be being forced into personal bankruptcy.

I imagine that is where a lot of them are heading but if they were
smart enough to pay off one of the houses Florida law will let them
keep it.


Don't they actually have to be living in the house, or can you
"homestead" an investment house in Florida?

"HK" wrote in message
...

Don't they actually have to be living in the house, or can you "homestead"
an investment house in Florida?


The last I knew you could homestead your primary residence only.

Eisboch

Eisboch wrote:
"HK" wrote in message
...
Don't they actually have to be living in the house, or can you "homestead"
an investment house in Florida?


The last I knew you could homestead your primary residence only.

Eisboch




Good, then I hope the housing speculators in Florida take it right up
the butt. Note I said speculators, not investors.

On Thu, 31 Jan 2008 12:50:02 -0500, HK wrote:

Note I said speculators, not investors.

How do you distinguish between the two? In my mind they are one and
the same except for the negative connotation associated with
speculation.

Wayne.B wrote:
On Thu, 31 Jan 2008 12:50:02 -0500, HK wrote:

Note I said speculators, not investors.

How do you distinguish between the two? In my mind they are one and
the same except for the negative connotation associated with
speculation.



Hehehhe. Go back to sleep, W'hine.

An investment typically promises some safety of principal and a
reasonable return. Buying real property in the hope of a quick run up of
a minimal outlay does not meet these requirements, and therefore is
speculation.

What was it you did for a living when you did something for a living?

"HK" wrote in message
...
Wayne.B wrote:
On Thu, 31 Jan 2008 12:50:02 -0500, HK wrote:

Note I said speculators, not investors.

How do you distinguish between the two? In my mind they are one and
the same except for the negative connotation associated with
speculation.



Hehehhe. Go back to sleep, W'hine.

An investment typically promises some safety of principal and a reasonable
return. Buying real property in the hope of a quick run up of a minimal
outlay does not meet these requirements, and therefore is speculation.

What was it you did for a living when you did something for a living?

That's only one man's opinion.

D.Duck wrote:
"HK" wrote in message
...
Wayne.B wrote:
On Thu, 31 Jan 2008 12:50:02 -0500, HK wrote:

Note I said speculators, not investors.
How do you distinguish between the two? In my mind they are one and
the same except for the negative connotation associated with
speculation.


Hehehhe. Go back to sleep, W'hine.

An investment typically promises some safety of principal and a reasonable
return. Buying real property in the hope of a quick run up of a minimal
outlay does not meet these requirements, and therefore is speculation.

What was it you did for a living when you did something for a living?

That's only one man's opinion.



It's a fairly standard definition, but not the only one.

On Jan 31, 11:33*am, HK wrote:
wrote:
On Thu, 31 Jan 2008 06:27:41 -0500, HK wrote:

Good. They ought to be stuck, but good.
the problem is that a lot of them really don't have much money in the
game and they just walked away leaving that long list of banks holding
useless paper and a house they can't sell. The 60 minutes piece
pointed out these loans were consolidated so many times it is hard to
figure out exactly who actually does own any given house in
forclosure. As I said before, big builders were getting huge blocks of
money from fund operators and they lent it out through their in house
mortgage company. The fund holds all the paper but the individual
investors have a hard time sorting them out when the fund fails.

Sure it is a problem, but the multi-house buying speculators should pay
a penalty in addition losing the little bit of money they "invested" in
hopes of using borrowed money to make a killing. Perhaps that penalty
will merely be being forced into personal bankruptcy.

I imagine that is where a lot of them are heading but if they were
smart enough to pay off one of the houses Florida law will let them
keep it.

Don't they actually have to be living in the house, or can you
"homestead" an investment house in Florida?- Hide quoted text -

- Show quoted text -

Uh, oh..... another lobster boating.
You've said you had property in Florida, then that you were left a
condo, and you don't know the Homestead Exemption rules???/

wrote:
On Jan 31, 11:33 am, HK wrote:
wrote:
On Thu, 31 Jan 2008 06:27:41 -0500, HK wrote:
Good. They ought to be stuck, but good.
the problem is that a lot of them really don't have much money in the
game and they just walked away leaving that long list of banks holding
useless paper and a house they can't sell. The 60 minutes piece
pointed out these loans were consolidated so many times it is hard to
figure out exactly who actually does own any given house in
forclosure. As I said before, big builders were getting huge blocks of
money from fund operators and they lent it out through their in house
mortgage company. The fund holds all the paper but the individual
investors have a hard time sorting them out when the fund fails.
Sure it is a problem, but the multi-house buying speculators should pay
a penalty in addition losing the little bit of money they "invested" in
hopes of using borrowed money to make a killing. Perhaps that penalty
will merely be being forced into personal bankruptcy.
I imagine that is where a lot of them are heading but if they were
smart enough to pay off one of the houses Florida law will let them
keep it.
Don't they actually have to be living in the house, or can you
"homestead" an investment house in Florida?- Hide quoted text -

- Show quoted text -

Uh, oh..... another lobster boating.
You've said you had property in Florida, then that you were left a
condo, and you don't know the Homestead Exemption rules???/

Harry used to tell us he was renting his home outside of Jax and let
some people who lost their homes to hurricanes to stay free of charge.

He is a good guy, but he should keep up with the homestead laws.

wrote:
On Jan 31, 11:33 am, HK wrote:
wrote:
On Thu, 31 Jan 2008 06:27:41 -0500, HK wrote:
Good. They ought to be stuck, but good.
the problem is that a lot of them really don't have much money in the
game and they just walked away leaving that long list of banks holding
useless paper and a house they can't sell. The 60 minutes piece
pointed out these loans were consolidated so many times it is hard to
figure out exactly who actually does own any given house in
forclosure. As I said before, big builders were getting huge blocks of
money from fund operators and they lent it out through their in house
mortgage company. The fund holds all the paper but the individual
investors have a hard time sorting them out when the fund fails.
Sure it is a problem, but the multi-house buying speculators should pay
a penalty in addition losing the little bit of money they "invested" in
hopes of using borrowed money to make a killing. Perhaps that penalty
will merely be being forced into personal bankruptcy.
I imagine that is where a lot of them are heading but if they were
smart enough to pay off one of the houses Florida law will let them
keep it.
Don't they actually have to be living in the house, or can you
"homestead" an investment house in Florida?- Hide quoted text -

- Show quoted text -

Uh, oh..... another lobster boating.
You've said you had property in Florida, then that you were left a
condo, and you don't know the Homestead Exemption rules???/


We sold our Florida house years ago, ****-for-brains, and I never spent
a single night in the condo. Shouldn't you be out cleaning the expansion
cracks in the sidewalk?