House Flipping is Selfish?

[flip_it_fast]

“House flipping is proof that many in our society are both selfish and greedy. These house flippers are a new breed of investor who has moved on from investing in stocks and mutual funds to ‘flip’ a foreclosed home such as ours and then sell high in this depressed economy,” says Steven Anker who’s Eugene home was recently lost to foreclosure actions taken by a local bank. Anker said he understands people wanting to “make a profit, and business is business, but when it’s your home that’s been flipped, it really hits home to use a pun.”

Okay so I guess now anyone who flips houses is selfish? Unbelievable.

Listen, I hate the fact that people lose their homes. It makes me sick. My mother-in-law lost hers. But the fact of the matter is if you don't pay the mortgage you lose the house. Just like if you don't pay the cable you watch ants on the television. It sucks but thats how it is.

So please don't blame someone for buying it and then making a profit on it. They are not selfish. They are making a living.

At the same time, the Anker's say it would have been "nice if someone came forward to help us keep our home instead of waiting to take it from us."

The house flipper didn't take this home from anyone. They lost the house because they couldn't pay for it. The bank took it and then sold it to the house flipper. I don't think that the flipper is responsible for them losing their house! I guess the flipper should have just went in and paid the mortgage for them.

[flippinout]

So please don't blame someone for buying it and then making a profit on it. They are not selfish. They are making a living.

That is a very true statement you made. Its not the flippers fault that these people lost their homes and it is the flippers way of making a living.

The question was asked, "Why didnt someone come forward and help us keep our house?" Well, the banks lending practices was to blame, not understanding your mortgage is another problem, then theres the condition of the economy, plus the bankers with the rubber stamp that stamped "forclosed" on these homes so that they could get new cars, cash, jewelry etc.

There are many issues to blame for the foreclosures but it sure isnt the fault of the flippers.

Another question is, did these people look for help to keep their homes?

[homealone]

I guess when some people are having difficult times like this, they are quick to lash out at anyone and everyone possible because they don't have control over what is happening. Though to actually blame house flippers for earning a living is just wrong.

[flip_it_fast]

I hate the blame game. Like I said before, I feel terrible for those who lost their homes. But face the truth instead of blaming others. If you don't pay your bills there are consequences. Everyone knows that. I realize that people lost their jobs and couldn't pay their bills and mortgages but thats still no reason to blame house flippers.

[realestatehound]

I do feel sorry for the families who lose their homes, but when I go in these homes and see all the damage that they have done to the home it makes me wonder just what kind of people really are loseing their homes. I mean the house didn't do anything to them. I'm going to tell you some of the things I have cleaned out of homes and then you can think about it. I have hauled as much as 8 truck loads of pure trash out, kicked holes in the walls, crapped and then wipped it on the walls, ketchup on the walls, painted bad words on walls, emptyed the refrigerator out in the floor in August so the flys and maggots would blow it. Poured bleach on the carpet, ripped light fixtures out of the ceiling, cut plumbing lines and flooded the house, drilled holes in the hot water heater, busted doors, throwed eggs all over the house. This is stuff I have seen, not heard about. I'm not trying to say that all people that are foreclosed on are lazy, I better than anyone knows the problems they have face as I have done 51 short sales to help families stay out of foreclosure, but this stuff really makes you wonder just what kind of people these folks really are. I don't consider myself selfish, rather I think of myself as someone who takes the eyesore of the subdivision and makes it a true beauty.

[homealone]

I agree Realestatehound, I have seen some people do some seriously damaging things to a home for a variety of reasons.

Though still to point the finger and lay blame on house flippers is amazing to me.

I would have liked to see the banks work more with the people so that most could have kept their homes. If this would have happened there wouldn't be so many houses sitting empty right now rotting away.

I mean it would have made more sense for banks to accept a smaller house payment rather than nothing at all for a house and a family could have stayed in a home that they loved.

Sadfully this didn't happen and now there are home rotting away like I said.

[JaredfromIndiana]

The investors that I can't stand are the ones that try to steal grandma's equity. The investors that buy REOs are just making a living.

[homealone]

Sorry Jared I am sure most here know exactly what you are talking about, but I'm not a house flipper so I haven't a clue what your saying.

Think you could possibly dumb it down a bit so I might understand it?? Sorry I am just curious what you were saying here.

[realestatehound]

I think he is talking about a reverse mortgage. It's where they talk elderly people into letting them send them a small check each month until all their equity is gone and then when they pass away they sell the home and pay off the mortgage and put the balance in their pocket. I think I am correct on this but I may not be 100%.

[homealone]

Thanks for explaining that for me. Sorry I just don't know all of these big terms for things that you house flippers do.

I doubt that I will ever flip a house, but learning all about that is interesting to me and who knows one of these days I may get lucky and get the chance to flip a house. Never know what the future may hold for anyone.