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May 19, 2008


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As investors, we have looked at tons of foreclosures. What amazes me is the ease it is to get into many of these homes- they are not even secured. We kept a close eye once we put a house under contract, since they are purchased "as is". I still don't understand why so many go to auction, and then just sit there. I watched several in my old neighborhood that sat and sat before it went on the market. That is an open door for a squatter because you don't even have a real estate agent looking in on it occasionally and the neighbors aren't always paying attention.

I just say that this is a caution to those looking at foreclosures- you never know what you will find. Don't go by yourself.

It'll take a while before something is figured out with all these empty properties. The suburbs were built up and are now being somewhat emptied out, with a lot of abandoned/foreclosed homes as a result. It's no wonder people who end up with nowhere else to live break into other homes to get some shelter.

I guess if you're bold enough to break into a house, you'd be bold enough to ask the bank owner for a few thousand dollars to leave. That may be a money-making tip, but probably not a good one that could be applied by more than a handful of former homeowners.

I read that Britney Spears article early this morning and immediately thought two things: it's about finance & who writes these ridiculous articles? Headline: Britney is more financially responsible then most Americans. Having a budget is a step in the right direction but it doesn't tell anything about Britney's financial situation. One category, "Misc" lists $5 million in expenses --- on what? My personal budget going back four years is a dollar for dollar list of everything I have purchased giving me full details. Or I could go the Britney way, which the author writes is better than most Americans, and list expenses: $2000, income: $3000.

This reminds me of an NPR piece. Locksmiths are making a mint these days changing locks for realtors, but it's a dangerous job because they never know when a squatter's lurking around the corner.

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