FAIR USE NOTICE

FAIR USE NOTICE

A BEAR MARKET ECONOMICS BLOG

Occupy Dissent


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Sunday, December 6, 2009

How to Do What’s Needed to Deal with Your Mortgage Crisis When Facing Foreclosure

How to Do What’s Needed to Deal with Your Mortgage Crisis When Facing Foreclosure

1) Refinance to a workable fixed rate

If that does not work:

2) Consider the Obama Homeowner Affordability Program

If that does not work:

3) If you have negative equity: Walk away

If you have no option but foreclosure, before you leave: If you can not profit from your home, you might not want anyone else to prosper.

4) Consider making the house uninhabitable:

a) Sell off any surrounding land (lots, etc.)

b) Sell all furnishings, fixtures, wiring, plumbing)

c) Demolish the dwelling but make it legal with a building permit: you are doing a home makeover.

d) Overload the circuits and burn out the electrical system

e) Destroy all plumbing

f) Destroy the furnace (no heating or cooling)

g) Destroy the sewer system on the property only

h) Damage all windows and doors

i) Make certain the superstructure is damaged (foundation and beams)

j) Contaminate the well

Once you are certain there is nothing of value, post the property as “Uninhabitable Failed Home Makeover.”


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