Stranger Buys Foreclosed House at Auction and Gave it back to Owner

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posted on Jan, 8 2009 @ 04:14 PM
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Real Estate investors do this all the time.

You buy it cheap from the foreclosing lender, then "sell" the house in some way.

One of these ways is to let the "buyer" live in the house and pay monthly. There would be interest, and the house would legally not be the buyers until they've paid off whatever the amount is.

So in this case, Mrs. Mock is actually doing something that Real estate investors do all the time.

Except she is "selling" it back to the original owner.

If there is no INTEREST involved on the monthly payments, then Mrs. Mock would be somewhat of a charitable person.

If there are any kind of INTEREST, then I'm sorry to burst your bubble, but Mrs. Mock is just another Real estate investor.

A good one at that, selling houses picked up for cheap, back to the owner. Forget the bank, I'll collect the interest.

You guys need to read more or work more or something....




posted on Jan, 8 2009 @ 04:20 PM
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It is good to know there are kind people in the world. I hope her kindness is spread to others.



posted on Jan, 8 2009 @ 04:47 PM
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I smell alot of karma-brownies baking!!

Awesome that she'd do something so kind, just shows that we're all in this together, rich or poor, its the small things like this that need to take place around the nation so we can make any progress in this economic slump.



posted on Jan, 8 2009 @ 05:20 PM
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If the moderator was a real estate investor this thread would be closed.

Mrs. Mock is a real estate investor guys.

I know it's not your fault because you are not in the Real estate field, but you have been duped by the wording of this article.



posted on Jan, 8 2009 @ 05:24 PM
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Originally posted by marg6043
I am going to be very honest with you all here in ATS, this story brought tears on my eyes.

Indeed we still have some good souls in this world after all, those that help others will be rewarded with abundance and blessing for years to come.



Same here! I actually cried ... What I wonderful women! I wish we were all like this helping one another to make this world a better place to live in.



posted on Jan, 8 2009 @ 06:05 PM
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I'm so glad that she helped her.

Starred and flagged.

I can only pray for the same miracle when I'm doing the same thing next month.



posted on Jan, 8 2009 @ 07:56 PM
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I read this thread earlier today. I was hoping it would cheer me up a bit. It didn't. I hit my homepage button and got outta ATS. It was hitting a little to close to home. I took my dog out for a really long walk. I came home to a Notice of Default. We are officially losing our home.

It's been a long battle. I was thinking the other day about how tired and worn out I felt. I haven't felt this way since losing my grandmother to cancer. That too was a long battle. Months and months of stress...knowing what lays ahead.

I am not looking for sympathy...there are others in much worse shape. We will move on...and move forward. My only worry is our pets. Our dog, he's a good boy. And the three cats...We will have to find a landlord that's a pet lover.



posted on Jan, 8 2009 @ 08:21 PM
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Originally posted by beta_2.0
I read this thread earlier today. I was hoping it would cheer me up a bit. It didn't. I hit my homepage button and got outta ATS. It was hitting a little to close to home. I took my dog out for a really long walk. I came home to a Notice of Default. We are officially losing our home.

It's been a long battle. I was thinking the other day about how tired and worn out I felt. I haven't felt this way since losing my grandmother to cancer. That too was a long battle. Months and months of stress...knowing what lays ahead.

I am not looking for sympathy...there are others in much worse shape. We will move on...and move forward. My only worry is our pets. Our dog, he's a good boy. And the three cats...We will have to find a landlord that's a pet lover.


I tried to send you a PM but don't have enough points. I'm sorry that you are going through this as well. I understand and can empathize. Us too. Only I'm way past that. The courts will release our house back to our mortgage company next month and then they don't have to work with us if they don't want to.

Anyway...I just wanted you to know you aren't alone.



posted on Jan, 8 2009 @ 08:47 PM
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Absolutely wonderful.

I know humans have this in them, the ability to show amazing compassion and kindness. I hope this story inspires more random acts of kindness.



posted on Jan, 8 2009 @ 08:48 PM
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reply to post by jenmckin
 


Thanks for responding. Sorry to hear that you are in the same situation. There are way too many of us. I wish you and your family the best of luck. I don't have enough points to PM either.



posted on Jan, 8 2009 @ 08:49 PM
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reply to post by Rizen
 



Originally posted by Rizen
If there are any kind of INTEREST, then I'm sorry to burst your bubble, but Mrs. Mock is just another Real estate investor.

A good one at that, selling houses picked up for cheap, back to the owner. Forget the bank, I'll collect the interest.


Absolutely right. But I have a feeling that Mrs. Mock is going to find herself in the same boat as the bank when this 'homeowner' fails to repay her. But in that case, the 'homeowner' will prey upon Mrs. Mock's good graces and take advantage of her.



posted on Jan, 8 2009 @ 08:55 PM
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Originally posted by Rizen
this case, Mrs. Mock is actually doing something that Real estate investors do all the time.


Well they must have left out the part where Ms. Mock bought it for $30,000 and then sold it back to the owner for $60,000 at interest. (Which would make it something that real estate investors do)


Originally posted by Rizen
If there is no INTEREST involved on the monthly payments, then Mrs. Mock would be somewhat of a charitable person.

If there are any kind of INTEREST, then I'm sorry to burst your bubble, but Mrs. Mock is just another Real estate investor.


Thats is just bull poop. Ms. Mock had to borrow half the money to do this. Presumably at interest. So obviously she is going to have to charge interest to make that up so it isnt a loss to her, as well as, one would assume, a moderate amount of interest on the balance to cover opportunity cost. (The money that her money would have been earning in interest in a bank account or investment.

As long as she doesnt jack the price up, or charge interest other than that which covers her own expenses, it IS a charitable act, because she could have bought a pure investment property and made a good profit on it and chose to do this instead.

[edit on 8-1-2009 by Illusionsaregrander]



posted on Jan, 8 2009 @ 10:51 PM
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off-topic post removed to prevent thread-drift


 



posted on Jan, 8 2009 @ 10:54 PM
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off-topic post removed to prevent thread-drift


 



posted on Jan, 8 2009 @ 11:07 PM
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I dont get why you guys have to make everything into an issue. Anyway, this was a awsome thing that that women did and i respect her. I hope someday i can do something like that.



posted on Jan, 9 2009 @ 12:58 AM
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reply to post by Daz3d-n-Confus3d
 
Free market capitalism is a good thing up top a certain point. if it is not regulated and overseen by the government, corporations know no bounds and will do anything to make a profit. They will sell their soul and yours if need be to make the almighty dollar without considering reprecussions toward the common good of all. Without regulation Microsoft became the biggest monopoly in the world and look at how it paid off for them. During Clintons term they tried to bring some regulation to Microsoft and during the transition to the bush term they totally dropped the case. They last eight years have devastated our corporate and financial institutions so now we are in the mess that we are in. Eight is definetly enough....... good riddance to unfettered unregulated free market economics. Welcome back common sense governance........



posted on Jan, 9 2009 @ 05:32 AM
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Mock was straightforward about her motive. "People need to help each other, and that's all there is to it," she said.


She'll end up getting knocked off these days with an attitude like that!


What a good soul! If everyone was like her, we wouldn't even be in the mess we're in.

Stories like this give me hope for this planet!



Originally posted by TheController
I hope someday i can do something like that.


It's contagious, too! We're in for a chance, people!



[edit on 9/1/09 by NuclearPaul]



posted on Jan, 9 2009 @ 02:15 PM
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Who cares if she gets "intrest"... grrr!!! "the buyer"

Fact is SHE let the women STAY in her home.. And that for me is heart worming and gave me a lil tear



Good on the women.. S+F for her


made me cry watching that women seeing her memories go on sale like that
...

Life is reeeal crap .. and we MAKE IT LIKE THIS..



posted on Jan, 10 2009 @ 12:46 AM
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I wanted, but could not figure out how to start a NEW thread...however, this seemed the best 'sounding board' of my idea...

This kind of generosity seems to help me proclaim that the concept of 'Capitalism' is dying out.

YES!! I just said it!! 'Capitalism' seems to be dying. I know, I know, the next immediate response is to suggest 'Communism' or 'Socialism'... but that is NOT what I'm advocating.

In fact, I really do not know the answers....we have all seen 'Socialism' and 'Communism' fail....but it seems the 'Capitalist' method of society is doomed as well, because, in all three cases....GREED tends to over-run the system!

It continually comes down to the 'haves' and the 'have-nots'...regardless of the economical 'system', there is continually an 'under-class', in every iteration.

SO...Capitalism, Communism and Socialism have not fulfilled their respective promises.

What is the solution?? I don't know....do you????



posted on Jan, 10 2009 @ 01:14 AM
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reply to post by David9176
 



I think what he's getting at is that he'd rather be one of those evil socialist types that goes around helping people than an emotionless capitalist that only takes things from peole and never gives back...

In this sense Marilyn Mock was the Socialist while the banks that foreclosed are the capitalists...

Yes it was a voluntary act and yes I understand the difference...





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