Garage door legal question.

Frankly, folks here are not interested in your politics and views. You have a moral obligation to pay your debit.

STOP blaming everything on your failure.

One day you think you can sleep better, because you took a garage door?!

Reply to
Oren
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Gordon Shumway wrote in news: snipped-for-privacy@4ax.com:

19.95 + p&h

Yes. White, avocado green, harvest gold and coppertone.

Reply to
Red Green

You are a genuine ass, just full of good Karma. Where does the new door go, in your new cave I hope. So put back the old one scrooge.

Reply to
ransley

Avocado green! Holy shit! I do have some plenty mores.

Gordon Shumway

Our Constitution needs to be used less as a shield for the guilty and more as a sword for the victim.

Reply to
Gordon Shumway

Anything that is fastened down is PART OF THE HOUSE - removing it is theft.

Reply to
clare

I am not sure, but I think that California is one of only a few states that do not permit lenders to get a deficiency judgment against the debtor after a foreclosure on a primary residence mortgage. If that is correct, the bank cannot come after you for the difference between what they get from the Sheriff's sale or foreclosure and the actual balance due on the mortgage.

About the garage door..., I think that would be considered part of the structure of the building, just like the walls,ceilings, floors, etc. would be. If so, the bank could probably come after you for taking the garage door, just like they could if you took a wall, ceiling, or floor. There is a technique that some investors use called "component depreciation" where they can legally depreciate non-structure items (toilets, gutters, downspouts, etc.) over a shorter term on their tax returns -- then they depreciate the rest of the structure over 27 years. But, I think garage doors may not be one of the components that can be depreciated over a shorter term than the structure itself.

Since the house is apparently upside on the mortgage, and you probably have other dischargeable debts, have you looked into just filing a Chapter 7 bankruptcy? Many (most?) bankruptcy attorneys provide a free initial consultation. You may want to do 2 or 3 such consultations before deciding what your best options are.

There is a Yahoo Group called Bankruptcy_Talk that you may want to join and post your questions there.

Reply to
Jay-T

According to this article California IS one of the few states that limits deficiency judgments.

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Excerpt 1:

"[U of Arizona law professor, Brent T.] White argues that far more of the estimated 15 million American homeowners who are underwater on their mortgages should stiff their lenders and take a hike.

"Doing so, he suggests, could save some of them hundreds of thousands of dollars that they 'have no reasonable prospect of recouping' in the years ahead. Plus the penalties are nowhere near as painful or long-lasting as they might assume.

" 'Homeowners should be walking away in droves,' according to White. 'But they aren't. And it's not because the financial costs of foreclosure outweigh the benefits.' Sure, credit scores get whacked when you walk away, he acknowledges. But as long as you stay current with other creditors, 'one can have a good credit rating again -- meaning above 660 -- within two years after a foreclosure.'

"Better yet, you can default 'strategically.' Buy all the major items you'll need for the next couple of years -- a new car, even a new house

-- just before you pull the plug on your current mortgage lender.

" 'Most individuals should be able to plan in advance for a few years of limited credit,' White said, with minimal disruptions to their lifestyles."

Excerpt 2:

"The main point, [White] says, is that too often people's emotions get in the way of clear financial thinking about mortgages, turning them into what he calls 'woodheads' -- 'individuals who choose not to act in their own self-interest.' Most owners are too worried about feelings of shame and embarrassment following a foreclosure, and ignore the powerful financial reasons for going through with it, he said.

"Buttressing these emotions is a system that White labels 'the social control of the housing crisis' -- pressures and messages continually sent to consumers by the 'social control agents,' namely banks, government and the media. The mantra these agents -- all the way up to President Obama -- pound into owners' heads, White says, is that 'voluntarily defaulting on a mortgage is immoral.'

"Yet there is an inherent imbalance in the borrower-lender relationship that makes this morality message unfair to consumers: Banks set the rules during the housing boom, handing out home loans with no down payments, no income checks and inflated appraisals. Now that property values have dropped 20 to 50 percent in many areas, banks have been slow to modify troubled mortgages and reluctant to reduce principal debts.

"Only when homeowners cut through the emotional fog and default strategically in large numbers, White argues, will this inequitable situation be seriously addressed.

"How does White's 52-page manifesto go over with mortgage lenders? Predictably, not well."

Reply to
Erma1ina

Because you entered into a contract with them.

I'm really fed up with people like you...people who feel no obligation to be responsible...people who think only of themselves...people who stick everyone else with additional debt because they are too childish to honor their obligations.

The fact that you want to rip off (steal) a garage door speaks volumes.

Reply to
dadiOH

Damn, I was hoping for burnt orange.

Reply to
dadiOH

On Mon, 14 Dec 2009 07:58:23 -0500, "dadiOH" wrote Re Re: Garage door legal question.:

Because you are not scumbags?

+1
Reply to
Caesar Romano

I believe you're trolling. Why would you ask this question in a home repair group if not?

Cheri

Reply to
Cheri

Yes, that is also a potential down side to destroying your credit rating, along with many others that don't come to mind at this time.

Reply to
EXT

"Cheri" wrote in news: snipped-for-privacy@news2.newsguy.com:

But it geves others a chance to vent.

Reply to
Red Green

Consulting a lawyer may be equivocal.

Some time back, I ran into an old school buddy. During the conversation, he (a lawyer) allowed as how he was putting his money into rental property and one of his renters (not lease, month-to-month rent), built a six-foot cedar fence around the back yard. Now he and I both knew that this fence becomes part of the property, so I asked him what he did about the renter.

"I raised his rent by $25 a month," was the answer! When I asked him how in good conscience he could do that, his lawyer-think answer was:

"I convinced him the property was now more valuable."

Reply to
HeyBub

Well, you're right about that, and me...a chance to chastise him for posting it here. It's all good. LOL

Cheri

Reply to
Cheri

Probably raised the property tax by a few pennies. A dastardly deed :o)

Reply to
norminn

Unfortunately, this type of behavior seem to be growing.

Here in Florida, we are also being hit with a severe RE down turn, and many people cannot afford their mortgages and being foreclosed on. Many of those are people who could not afford their mortgages and probably should never have purchased a home to begin with, but there are also some who could afford their mortgage and insurances, but did not anticipate home owner association fees shooting up the roof.

I have a friend who's condo building is now at 60% vacancy, many were owners who walked away or never moved in. However they have to continue to pay for security guards, landscaping, swimming pool, elevator maintenance etc...many of those are signed contracts and must be paid, but less owners means your portion is now significantly higher, and her HOA fee is higher than her mortgage!!!

There is also a growing number of what they now called "Strategic Defaults". People who walked not because they cannot afford but simply because their house is now worth less than the amount they owed. They projected in Florida alone about 28% of the defaults are strategic. They computed that by looking at those who defaulted, how many of them are current on car payments, credit cards etc...and only defaulting on mortgages. I even saw some newspaper articles about those people who strategic defaulted needing counseling help to overcome their guilt about not paying their mortgages. This is just insane, people who walked away from their obligations and now they need counseling?

Opinion varies, but it is clear that due to the economy, the mortgage defaultors will be able to rebuild their credits much sooner than a normal bankcruptcy. Some says 2 years. It seems that because it's considered "norm and understandable", this is not as bad as the traditional bankcruptcy filing.

I have visited a few foreclosed on homes. Sellers walked away and they had to blame it on someone else except themselves, so yes, I see glass windows broken, floor tiled cracked, walls ripped, basically the realtors told me a lot of people destroyed their home before they walked as a way to "stick it to the banks". Now the banks are stuck with these properties, they cannot be sold conventionally as some of them are inhabitable so the bank asks for cash only offers since there is no way the new buyer can get a loan from another bank for it.

It's a total mess.

Reply to
MiamiCuse

Definitely not that simple. For example, bookcases should have a safety strap or bracket that is fastened to the wall to prevent them from tipping, however they certainly would not be considered part of the house, nor would artwork fastened to the walls of the house.

Reply to
Pete C.

Doors and windows are clearly part of the structure.

Reply to
salty

Why don't you sell the drywall, trim, siding, flooring, heating system, toilet and sinks, studs and anything else you can dismantle.

Reply to
Van Chocstraw

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