2 posts tagged “foreclosure”

From the often clueless LA Times Land Blog.  Usually, we laugh at them, but today I can assure you we are all laughing with them.

Apparently, some married California men had motives other than investment when they purchased luxury condominiums in Vegas...

A longtime Vegas escort, she was living in an apartment when a sugar daddy lured her into living at his investment property rent-free. The arrangement was simply too good to pass up. (You can guess what he took as payment instead.)

Then came the foreclosure crisis. And the thing about foreclosure is that it is a dialogue between banks and owners -- no one talks to residents at properties until the very end. When the owner could no longer keep up the payments on the luxury condo, and the property went into foreclosure, the condominium association gave her a day to get out (she was able to negotiate for a few more days). For now she is staying with a friend, her furniture and belongings piled into the friend's garage. And she assures me that many others are in her, um, compromising position.

Exploring the multifaceted dimensions of the housing crisis--it's such a rich vein to mine.  Frankly, I'm surprised that Rob Dawg passed up a story involving hot women, sex and foreclosure.  I'd email him, but he's unlisted and that subject line is just begging for a spam filter.

Think just because you rent you're safe from all the foreclosure fallout going on around you?  Well, I won't tell you to wipe that smug smile off your face, but I would caution you to keep an eye out for some rental scams going around:

Once popular in the 1970s, tenants are conned into renting an apartment from a fraudlent landlord, only to discover later that the "landlord" doesn't even own the building.

The scam leaves renters homeless and broke as the con artist will get the first and last month's rent in cash, and is gone before the victims realize that their rental agreement was really phony.

Of course you are safe from having your house foreclosed on and all your stuff thrown in the street.  Unless of course, you rent from a landlord who is being foreclosed on.