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Abunai's Blog

by Abunai from Clermont, FL

Last Post 2 days, 9 hours Ago


So Orange Co. now has some 25 Million bucks to spend on purchasing foreclosed homes, and then cleaning them up, installing energy efficient appliances, and reselling them to qualified low income people.

You must make no more than $71K a year in income.  (yea.. define income) and you get to purchase the homes valued from 100 to 200K.

When county commissioners were asked how they plan on making sure people trying to make a quick buck won't buy them up, their answer according to FOX35 is nobody making more than $71K a year can purchase.

Hey.. I know lots of rich senior folks that TECHNICALLY make less than 71K a year, but have MILLIONS in portfolio and assets! 

So if I get this right... most of these homes are vacant because others unable to pay the mortgage lost them, so now the COUNTY is going to come in purchase them, bring in new appliances,(Yea.. who gets that contract?)  and then turn them around for the price they acquired them plus the work?  INSTEAD of letting the market heel itself? 

How is this any different than the first bunch that owned them?  What happens when this new owner defaluts?  Is the city going to foreclose or just continue to let them ride? 

Thank GOD I'm in Lake Co!!

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Member Comments Total Comments: 8
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ADeltonian read my blog view my photos
Oct 7, 2008 | 11:57 PM

There you go, Bring all the scumm of the earth into the good neighborhoods that they normally coulnt afford to be in and make those great neighborhoods go downhill like the rest.

IDIOTSSSSSS

gman read my blog view my photos
Oct 8, 2008 | 5:54 AM

I wonder which Commissioner had that GREAT idea . . . any guesses?

They won't rest until they all have free homes and we're taking care of all their unmarried 17 year old girls with 3 kids to different 17 year old thugs in their beater cars covered in Plastic Chrome and stereos Blaring songs that ALL have that same beat (you'll hear it at ALL hours Deltonian). The more that get elected to office, the more they'll turn Orlando into a ghetto. . . . And they're coming for you Deltonian! It's just a matter of time before they RUIN Orlando (already have) to the point that THEY want out (like Miami & NY) and start showing up in Lake Co. too.

One area I disagree with McCain on. He's an Illegal Invader Lover. He'll let all (15 Million . . . sure, probably double that) stay and have the house next to, in front of, and behind us all. With 6,7,8 Babies each female, they'll own our country in a generation.

hwayoutaline read my blog
Oct 8, 2008 | 7:08 AM

Isn't this the same sort of bogus system that got us where we are today? What are we now Orlando MAE or Orlando MAC?
Have to agree with G-Man on the McCain and illeagals,McCain and his bud Ted tumor in the head Kennedy wrote the shamnesty bill that our fine leaders tried to ram down our throats last year.

Navigator read my blog
Oct 8, 2008 | 8:48 AM

How about this!!! I have heard so much about the bail outs of the sub prime market and the adjustable rate market – I want to know what the plan is for the individuals who have fixed loans, who bought homes in the last few years and now their homes are worth possibly 50,000 to 100,000 (or even more) less then they bought them. They have been laid off from the positions that qualified them for the homes due to the lovely economy and now are having to take starter jobs in other industries at a tremendous pay cut. They cannot refinance because their homes are worth much less and they also cannot sell them, because their homes are worth so much less and the inventory of homes on the market keeps increasing. And now that they are planning on bailing out these people who have defaulted or have adjustable rate sub prime loans through the Fannie Mae and Freddy Mac program, or the Orange County Bail out – and refinancing these loans back to the new appraised value - which will bring the prices of paying people’s home values down and solidify it. They will never make back a dime on their homes until all the homes that are going through this program are sold and gone – this could take years!
Why not refinance all homes sold in the last 5 years back to the appraised value as of today – to make it a FAIR market. So what if the banks loose money – it was all on paper anyway – right. These Senators running for office and in the house and congress had a chance to follow the SNL crisis bail out from the 80’s and roll these bad loans out to 60 to 70 year fixed rate loans, for thes

Navigator read my blog
Oct 8, 2008 | 8:49 AM

So what if the banks loose money – it was all on paper anyway – right. These Senators running for office and in the house and congress had a chance to follow the SNL crisis bail out from the 80’s and roll these bad loans out to 60 to 70 year fixed rate loans, for these people in trouble, back about 2 years ago, that was when Bush kept saying how great our economy was and others kept saying we were a nation of whiners. WE SAW IT COMING – WHY COULDN”T THEY? This would have saved the banks – they would have gotten their money – it just wouldn’t have been today. The people would be happy – because their payment would be lower and they still had a home. And everyone’s home values would not have dropped so drastically – because the foreclosure rate would not have been this bad.

Navigator read my blog
Oct 8, 2008 | 8:51 AM

Both presidential candidates were a part of it and had a chance to make a difference in this situation – I want to know why they dropped the ball – are they both so far out of touch with the real people of this nation, that they couldn’t even see it coming themselves? We need a presidential candidate that knows the people and can relate to this situation – that has a REAL plan to get us out of this mess and restore confidence – not only in the stock market, but in buying ANYTHING in this country. The reason the markets are and have been failing for years is because people have lost confidence in the products that they are buying. Besides the values of their homes falling, they have to deal with cars that are built to create repair revenue later. Toys that are made to fall apart after just a few times of use. Electronics that are also built for repair revenue…. And so on. PEOPLE ARE ASKING… WHAT HAPPENED TO THE AMERICAN STANDARD?

Meb452m read my blog
Oct 8, 2008 | 8:32 PM

Good post Abunai ! Commissioner Segal objected to this plan, saying that it would bring every unscrupulous home speculator out of the woodwork. Seems that on every bit of county bussiness on the agenda, only one commissioner per item objects? Only one on the " big " three venues ? Only one on " protestors " on HOA sidewalks ? Does this appear to be a pattern or well practiced and coreographed show ? Here's an idea for that 25 million dollars : invest it wisely in the market now and use it to resurect the " LEGACY PLAN " to preserve enviromentally sensitive land in ORANGE CO. for parks and future generations to enjoy. Nothing unscrupulous or a fraud magnet about that. Someone's going to buy the homes reguardless. MORE unspoiled lands not being made these days !

candyaquino read my blog view my photos
Oct 23, 2008 | 11:51 AM

This is what they call in JERSEY..."the Ghetto Projects" SHAME ON ORANGE COUNTY WHO PUT SO MANY PEOPLE IN STRIFE WITH THEIR FF BUDGETS......WHY DON'T THEY USE THIS MONEY FOR THAT....TO SUPPORT THE FIRE DEPARTMENT AND POLICE AND THE SCHOOLS.............ff democrats RUNNING ORANGE COUNTY TO THE GROUND.......AND GMAN.......McCain an immigration lover......YOU BETTER LOOK AT FF OBAMA.......he is the one making all types of SPANISH COMMERCIALS PROMISING THE "WORLD"........SCUM OF THE EARTH I THINK HE IS................

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Abunai

Twenty plus year disabled military veteran with multiple tours with Special Warfare in the Gulf. Stay at Home Dad, supporting a wife and her Phd,MBA career in Physics. Avid Martial Artists and NASCAR fan. Truth/Perspective/Context
... critical to being informed rather than ignorant! www.abunaiblog.com

Member Since: 10/5/2006