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?

On Jan 31, 2:26*pm, HK wrote:
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?- Hide quoted text -

- Show quoted text -

The Homestead Exemption rules have been in place for many many years.
And why would you have to spend a night in your condo to know the
rules and use them? Lobster boating?
Shouldn't you be washing the dishes for your Dr. wife?

"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, 2:59*pm, wrote:
On Jan 31, 2:26*pm, HK wrote:





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?- Hide quoted text -

- Show quoted text -

The Homestead Exemption rules have been in place for many many years.
And why would you have to spend a night in your condo to know the
rules and use them? Lobster boating?
Shouldn't you be washing the dishes for your Dr. wife?- Hide quoted text -

- Show quoted text -

crickets.......

wrote in message
...
On Jan 31, 2:59 pm, wrote:
On Jan 31, 2:26 pm, HK wrote:





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?- Hide quoted text -

- Show quoted text -

The Homestead Exemption rules have been in place for many many years.
And why would you have to spend a night in your condo to know the
rules and use them? Lobster boating?
Shouldn't you be washing the dishes for your Dr. wife?- Hide quoted text -

- Show quoted text -

crickets.......

Homesteading may not save your house. Most houses in metro areas of Calif
are worth more than the homestead act protects. Otherwise, you can go out
and lie and get a loan for a $20mm house and then declare BK and own the
house.

Calif Bill wrote:
wrote in message
...
On Jan 31, 2:59 pm, wrote:
On Jan 31, 2:26 pm, HK wrote:





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?- Hide quoted text -
- Show quoted text -
The Homestead Exemption rules have been in place for many many years.
And why would you have to spend a night in your condo to know the
rules and use them? Lobster boating?
Shouldn't you be washing the dishes for your Dr. wife?- Hide quoted text -

- Show quoted text -

crickets.......

Homesteading may not save your house. Most houses in metro areas of Calif
are worth more than the homestead act protects. Otherwise, you can go out
and lie and get a loan for a $20mm house and then declare BK and own the
house.

Florida

"BAR" wrote in message
. ..
Calif Bill wrote:
wrote in message
...
On Jan 31, 2:59 pm, wrote:
On Jan 31, 2:26 pm, HK wrote:





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?- Hide quoted text -
- Show quoted text -
The Homestead Exemption rules have been in place for many many years.
And why would you have to spend a night in your condo to know the
rules and use them? Lobster boating?
Shouldn't you be washing the dishes for your Dr. wife?- Hide quoted
text -

- Show quoted text -

crickets.......

Homesteading may not save your house. Most houses in metro areas of
Calif are worth more than the homestead act protects. Otherwise, you can
go out and lie and get a loan for a $20mm house and then declare BK and
own the house.

Florida



But there may be a maximum value protected even in Florida.

On Fri, 01 Feb 2008 15:37:40 -0800, Calif Bill wrote:


But there may be a maximum value protected even in Florida.

Some frequently claimed exemptions claimed are $125,000 equity in one's
Florida homestead (unlimited if you've had an interest in the homestead
or predecessor homestead for 1,215 days or more), $1,000 in personal
property ($4,000 if no homestead exemption is claimed or benefited from),
$1,000 equity in one vehicle owned by the debtor, certain earnings of a
head of household, and retirement accounts. Other exemptions are
available; your attorney should be consulted as this is a special topic
in a specialized practice area.

From:

http://www.goldstein-pa.com/brFAQ.html

On Feb 3, 1:43*am, wrote:
On Fri, 1 Feb 2008 15:37:40 -0800, "Calif Bill"

wrote:
Homesteading may not save your house. *Most houses in metro areas of
Calif are worth more than the homestead act protects. *Otherwise, you can
go out and lie and get a loan for a $20mm house and then declare BK and
own the house.

Florida

But there may be a maximum value protected even in Florida.

Nope, that is why OJ lives in Miami

My bud bought 5+ acres in N Florida, right off the intersection of 10
and 75 a few years back for 11 grand... a similar lot sold last week
nearby for 60 grand.. He is pretty excited.. For now he is just
putting up a place for vacations, but someday he will probably split
off a little piece and pay some bills..