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Busted: Employees Mocked Foreclosed On Homeowners At Halloween Party

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This is going to be very awkward for the lawfirm Steven J. Baum.

NYT columnist Joe Nocera has just posted pictures from last year's Halloween party, where employees mocked foreclosed-on homeowners by dressing up as homeless foreclosees among other things.

What's doubly bad about mocking the unfortunate is that Steven J. Baum is a lawfirm that handles mortgage issues for all the major banks.

Read more: http://www.businessinsider.com/steven-j-baum-halloween-party-2010-2011-10#ixzz1cBkYFasX

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It's funny. Pay your mortgage or get out imo.

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It's funny. Pay your mortgage or get out imo.

I think most people would understand that you have to pay your mortgage or get out . But only the sick in the head would deam it funny when it has happened to people.

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It's funny. Pay your mortgage or get out imo.

In the US those paying mortgages have been foreclosed on. And banks without an interest in a home have defrauded documents to fool the courts and the seize homes.

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I think most people would understand that you have to pay your mortgage or get out . But only the sick in the head would deam it funny when it has happened to people.

well said

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I think most people would understand that you have to pay your mortgage or get out . But only the sick in the head would deam it funny when it has happened to people.

The Halloween costumes are funny.

The class action lawyer moans that buyers were sold mortgages they could never afford as though the buyers are victims. They've had a moratorium on foreclosures over there. Many have had loan modifications. Lots of them can leave without being chased for 12 years for the balance. And all the excuses. 'I didn't receive the notice.' 'You can't prove who owns the mortgage because it's been packaged up and sold on.' Therefore more delays in foreclosure preventing homes from debtors who can't meet their repayments offer back to the market to allow someone with better finances the opportunity to buy at lower value. There's a few isolated cases where the firms have got things mixed up and gone after people with no mortgage, but that doesn't give a pass to all the other debtors.

I've not lost my home because I've never had one. Too many fools in the market willing to buy at higher prices than me. How funny is that? Funny to lots of other owners who thought prices only carried on doubling and didn't do enough saving for hard times. It might not be funny when they lose their homes because they can't afford their repayments, but if others can hack not owning, renting or sharing, then these former owners can.

With so much tilted in supporting the over indebted in the UK repossessions are to be almost celebrated when they get pushed through from those who can't afford what they agreed to repay. As for the 'victims', it's not funny, but it's not that sad either. You're not going to have a house price crash without those who can't afford to pay being forced to downsize, lower their prices to sell, or be repossessed if they've allowed things to get to that stage or put themselves in such a tight position in order to own.

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The Halloween costumes are funny.

The class action lawyer moans that buyers were sold mortgages they could never afford as though the buyers are victims. They've had a moratorium on foreclosures over there. Many have had loan modifications. Lots of them can leave without being chased for 12 years for the balance. And all the excuses. 'I didn't receive the notice.' 'You can't prove who owns the mortgage because it's been packaged up and sold on.' Therefore more delays in foreclosure preventing homes from debtors who can't meet their repayments offer back to the market to allow someone with better finances the opportunity to buy at lower value. There's a few isolated cases where the firms have got things mixed up and gone after people with no mortgage, but that doesn't give a pass to all the other debtors.

I've not lost my home because I've never had one. Too many fools in the market willing to buy at higher prices than me. How funny is that? Funny to lots of other owners who thought prices only carried on doubling and didn't do enough saving for hard times. It might not be funny when they lose their homes because they can't afford their repayments, but if others can hack not owning, renting or sharing, then these former owners can.

With so much tilted in supporting the over indebted in the UK repossessions are to be almost celebrated when they get pushed through from those who can't afford what they agreed to repay. As for the 'victims', it's not funny, but it's not that sad either. You're not going to have a house price crash without those who can't afford to pay being forced to downsize, lower their prices to sell, or be repossessed if they've allowed things to get to that stage or put themselves in such a tight position in order to own.

We all know that the situation in the U.S. A. is a fking disgusting mess that has seen ( is it 4 million people lose their homes ). In many cases no one has bought the repod house it has been knocked down .

Yes people were mugs , they were greedy , not everyone can be as smart as you . Not only that the whole sh-t cart has had an affect on the banks accross the globe , which in turn has had to be paid by people here as well as there .

Yes i do know that without more repossesions here prices are not going to drop , the pity is that prices were ever allowed to get where they have got. If the whole housing market had been more controlled then people who cannot afford to buy now could have and those over indebted who are going to get repossessed would never have ended up in the position.

Funny after the last crash I thought that the govenment and the banks would never let it happen again , GB even stated it in 1997, yet not only has it happened but it is worse this time MUCH WORSE. . The people should also have been more carefull , but many just wanted a roof over their heads ( no big deal is it ) so now we have this sorry Forecloser mess in the US and repos will follow here .

Nothing about it is funny.

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The people should also have been more carefull , but many just wanted a roof over their heads ( no big deal is it ) so now we have this sorry Forecloser mess in the US and repos will follow here .

Nothing about it is funny.

I hear your regret at how things got so much worse since the last last crash, and agree, but it is a 'big deal' to want a roof over your head. When buyers were increasingly outbidding house prices completely out of range against those in the market who had some concept about values and remained in rented. It's a big deal.

And against those who are minded to think how they will cope with repayments in a change of economic circumstance.

Those who could get mortgages to buy at rapidly increasing prices and weren't too worried about getting the debt repaid or what might happen if a recession hit. And those who have spent their homes by withdrawing equity instead of ensuring they wouldn't put their homes at too much risk of foreclosure.

Then expecting the system support you, or putting yourself forward as a victim and doing everything to delay the asset going back to the market. Too many of the 'smart' people who didn't get involved are not sitting back in their own paid off homes, like I think you may be doing, given you're a little older and didn't reach for too much in the boom.

The boom was the bad times. The bust is putting things back in order, except for the tears against the losers who made their decisions. That's why you get foreclosures being bought by young couples, with an eye on themselves getting value. They may still be overpaying but it's better than allowing someone who can't afford their repayments to keep a home paying less or nothing at all. Are the young couples supposed to stay in rented rest of their lives or be forced to pay hundreds of thousands extra for a home because the debtors should be allowed to stay or given lots more financial help? That's the sick in the head thing. Foreclosures are right and proper and to be celebrated against those who can't afford to pay their mortgages.

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Nothing about it is funny.

The funny thing is that many of the people foreclosed on in the US have been allowed free accomodation for 1/2/3/4 years while the legal process has dragged on, walked away with the saved money and without any further liability, and can now rent at reasonable prices. Those with decent jobs can even buy for cash at reasonable prices.

In the UK the bit about free accomodation does apply in alot of cases, but the rest is a dream ... the American Dream of relatively free markets.

Seriously, giving up a mortgaged home to return to the rental market really should not be a Horrible Tragedy. Somehow the UK makes it so.

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The funny thing is that many of the people foreclosed on in the US have been allowed free accomodation for 1/2/3/4 years while the legal process has dragged on, walked away with the saved money and without any further liability, and can now rent at reasonable prices. Those with decent jobs can even buy for cash at reasonable prices.

In the UK the bit about free accomodation does apply in alot of cases, but the rest is a dream ... the American Dream of relatively free markets.

Seriously, giving up a mortgaged home to return to the rental market really should not be a Horrible Tragedy. Somehow the UK makes it so.

In all adverse situations there will be people who come out bettet off when it looked like things were going very wrong. Quite often more due to luck than judgment .

You paint a picture of the Foreclosed in the U.S. walking away to a better life than they had before . Maybe this is true in some cases , but the reality for many is far less rosy . The reality of the U.S. for many foreclosed on is a life in poor quality housing and or homelessness ( have you ever seen the documetries on the tent citys ) where working people live while their children stay with relatives ? Not something the states likes the world to see to much .

Then there is the knock on affect of the downturn cased by the sub prime crisis that has affected people who never bought a house due to the unemployment rising and the helpless burden of the countrys and banks debts.

There is nothing FUNNY about any of this.

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In all adverse situations there will be people who come out bettet off when it looked like things were going very wrong. Quite often more due to luck than judgment .

You paint a picture of the Foreclosed in the U.S. walking away to a better life than they had before . Maybe this is true in some cases , but the reality for many is far less rosy . The reality of the U.S. for many foreclosed on is a life in poor quality housing and or homelessness ( have you ever seen the documetries on the tent citys ) where working people live while their children stay with relatives ? Not something the states likes the world to see to much .

Then there is the knock on affect of the downturn cased by the sub prime crisis that has affected people who never bought a house due to the unemployment rising and the helpless burden of the countrys and banks debts.

There is nothing FUNNY about any of this.

The problem is not the repos but the lack of jobs. Why are there no jobs? Because the state ran an unbalanced economic system, part of which was providing home ownership on reckless credit. It's looping back on itself. People will adapt, but they have to sort out state management of the economy first.

By the way, nodbody's laughing at this. The failure to accept necessary damage following the mad excesses leads to more of the madness. Now that's not funny.

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By the way, nodbody's laughing at this.

I think you will find the whole point of the thread was that people were laughing at this.

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I think you will find the whole point of the thread was that people were laughing at this.

Haha!

I'm pointing out the tendency of sanctimonious people to put up a straw man and invite the audience to condemn the opponent on that account.

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Some of those employees might soon be experiencing the other side of foreclosure!

After November 10, 2011, Servicers may not refer any new Freddie Mac foreclosure or bankruptcy cases in New York to Steven J. Baum, P.C., whether referred within or outside of our Designated Counsel Program.

http://www.freddiemac.com/singlefamily/news/2011/1110_foreclosure.html

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After November 10, 2011, Servicers may not refer any new Freddie Mac foreclosure or bankruptcy cases in New York to Steven J. Baum, P.C., whether referred within or outside of our Designated Counsel Program.

http://www.freddiemac.com/singlefamily/news/2011/1110_foreclosure.html

bloody good call okc

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bloody good call okc

The firm made a mistake allowing the party and the costumes yes. They've lost business through it and there might be lay offs.

Doesn't change the fact some other firm will be going after the deadbeat debtors with equal vigour. Just that they won't openly mock those debtors. Going after they buyers in homes who took mortgages out for homes they couldn't afford long term, bidding prices ever more out of range of more cautious savers. Bringing those homes back to the market to be sold at lower prices to those who can afford them.

That is preferable to the position of Miko who would prefer long term savers who have never bought a home to be completely destroyed and left with nothing, all the debtors debts wiped out and given free houses. I don't find that funny at all.

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Meh.. perhaps I'm insensitive, I must be the only person that thinks it's a storm in a teacup.

They weren't out cajoling anyone.. they just decided to dress up as homeless bums for their annual party for a bit of a laugh.

Like cops dressing up as prisoners or inmates on death row, or parking wardens dressing up as angry motorists.

Ok, perhaps all of these are slightly bad taste.. but unless they actually invite the victims along they're hardly going out of their way to upset anyone. The people doing that are the papers by rubbing the victims noses in it.

Edited by libspero

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Meh.. perhaps I'm insensitive, I must be the only person that thinks it's a storm in a teacup.

They weren't out cajoling anyone.. they just decided to dress up as homeless bums for their annual party for a bit of a laugh.

Like cops dressing up as prisoners or inmates on death row, or parking wardens dressing up as angry motorists.

Ok, perhaps all of these are slightly bad taste.. but unless they actually invite the victims along they're hardly going out of their way to upset anyone. The people doing that are the papers by rubbing the victims noses in it.

I don't know what it is about the latest generation and the Internet that they cannot see there is NO divorce from what you do online to what happens in the real world. They will be photographed doing almost anything in full HD for the entire world to see. I just don't understand why they don't get it. Otherwise smart people succumbing to the beguiling power of The Internet.

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I don't know what it is about the latest generation and the Internet that they cannot see there is NO divorce from what you do online to what happens in the real world. They will be photographed doing almost anything in full HD for the entire world to see. I just don't understand why they don't get it. Otherwise smart people succumbing to the beguiling power of The Internet.

I guess I'm more surprised that anyone cares what a bunch of idiots do at their office party.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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      • up 5%



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