Michael Shannon is one of the best “new” actors around regarding the villain role. Did a helluva job playing General Zod in the Superman movie.
How about this scene, especially starting at the 30 sec mark. How many times have you wanted to shake your complacent friends or loved one and shout in their faces “THERE’S A STORM COMING!!!!!!”
BUCKHED
June 7, 2015 1:26 pm
Is this one of the movie’s that starts an awakening ?
Bea Lever
June 7, 2015 2:25 pm
It is my understanding that mass foreclosures are coming, however most will be given the opportunity to rent their homes and stay in them as mere “renters”. So yes, we will be a nation of renters.
The progressives are doing a fine job of moving us along into a Soviet style
Commy government where private ownership of property is a thing of the past.
realestatepup
June 7, 2015 2:41 pm
So I have to weigh in here. For anyone that doesn’t know, I sell real estate in MA. 99% of my business is foreclosed homes. Most of those are reverse mortgage foreclosures, which generally means the former owner is deceased and the note came due upon death and they are upside down so the bank just forecloses. Generally these are already vacant.
But, some of the foreclosures are occupied, by either the former owners or tenants. The movie “99 Homes” looks like it took place in Florida, second only to CA for shady real estate deals and corruption in the real estate market in my opinion.
Here in MA, even FORMER OWNERS are protected by eviction laws, and are considered “tenants at sufferance” which basically means pretty much what it sounds like, the new owner is suffering them to live there. They are entitled to the full eviction process, which in MA can vary depending on many factors. Handicapped or disabled people, the elderly, and folks with children under 5 cannot be evicted in the winter. The eviction has to be initiated in writing, and I am usually the first point of contact for the occupants. I can tell you unequivocally I am nothing like this character in the movie.
I feel really bad for the most part, and try to be sympathetic especially if it’s a tenant and not a former owner. Some tenants don’t even know the foreclosure happened, and scummy former owners continue to collect rent from them after the auction date, don’t pay the water or trash or take care of the property. That’s not the norm though from what I’ve seen.
The bank makes what’s called a “cash for keys” offer, which basically offers money for the occupant to move in about 30 days and leave the place in the same shape it was in and broom swept with no trash.
I have seen amounts from 1500 to 10,000 depending on the circumstances and the occupant, but the average is about 3500.
If occupants decline, the eviction can still take 4-6 months if the occupant has half a brain and shows up for the court date.
I recently had one where the court allowed a man, not elderly or disabled, to stay in the house for 9 months, rent free.
The bank has to keep the property in good shape, pay the water, sewer, taxes, etc. It does have the right to collect fair market rent, but most banks don’t bother unless the occupant is legally section 8 and the payments just show up.
Collecting rents establishes tenancy for the most part, and it’s not worth the hassle so they don’t bother.
Once a bank, or any other owner, opts to move forward with an eviction, and a person does not follow the court ordered date to vacate, the owner contracts with the local Sherrif’s office and a locksmith, and show up. Keep in mind, the occupant has had multiple notices in writing of dates. it’s not a surprise.
The sheriff knocks, if no one comes to the door, the locksmith opens the door and changes the locks. The occupants are escorted out, and the owner MUST get a moving company to come and pack up their stuff and put it in a storage unit for 1 month. After that, it’s on the occupant to either continue to pay storage, or get their stuff.
Even personal property over 500 dollars has to be evicted in MA. Seriously. Your couch has to be evicted.
Southern states, on the other hand, have very different eviction laws. Less notification times, no seasonal restrictions, and for the most part your stuff goes out on the curb and you are SOL.
I believe the real estate broker portrayed in this movie is probably one of the ones who was involved in collusion, harassment, and illegal evictions. Many occupants are unaware of their rights at all, and are easily intimidated.
He very well have been scoping out more prime homes to buy for himself and flip for a profit, also prohibited by law, at least here anyway.
Florida real estate, at the height of the collapse, was really bad. You could pick up a 2000 square foot ranch home in a decent neighborhood for pennies on the dollar, go in an clean and paint, and either rent it out or sell for a profit.
These predatory brokers were doing just that. The banks were so overwhelmed they could barely keep track of what inventory they had, never mind figuring out who was buying what.
Some of the scenes in the trailer look like purposeful vandalism, which I have seen but doesn’t happen all the much at the hands of agents. Basically, and agent or broker who got assigned a home purposefully took out the copper pipes, AC units, appliances, even cabinets and sinks, sold them (or kept them, I’ll get back to that), and then told the bank the former owners or thieves had stripped it and now the house was now worthless. The bank sold it for a song to the agent (or a partner set up to pay cash so the agents name was not attached), the agent put all the stuff back in that they took, and VOILA! Profit!
Also, some of the so-called “property preservation” companies that are independent contractors for the bank (which Andrew Garfield apparently seems to become via evil Broker) would steal appliances, copper, cabinets, sinks, and AC units as well, claim they were already gone, and sell for profit.
Evil Broker seems to have all the corrupt bases covered. Collusion, theft, fraud, intimidation, etc. How much is true and how much sensationalized? Who knows. But this character is an amalgamation of all the bad stuff out there associated with real estate, and basically will push every emotional button of the viewer. That’s what sells tickets. It’s not reality for the most part.
I would like to point out, that while there are certainly many good, decent, hard-working people who got screwed over by their lender, there are also A LOT of stupid, greedy, crooked owners who used their homes like an ATM machine thinking the party was never going to end, and then got caught with their proverbial pants down when the market went shitty.
I see homes originally purchased in the 80’s as new construction for market value then, which is around 75,000 for a 1000 +/- square foot ranch, which now has been refinanced every year since 2000 up to the sky and the owner has a mortgage now of 250K but that same ranch is now only worth about 150K. Seriously. And what did they do with the money? No clue, because from what I have seen they certainly are not putting on additions or garages, or finishing their basements with it.
So my guess is paying off their ridiculous credit card debt they manage to rack up every year.
There are also a lot of owners who can pay their mortgage every month, but because their home is no longer “worth” what they paid for it, they just walk away. Snap, like that. They, the very entitled people they are, feel that they no longer should be responsible for a contractual debt they SIGNED OF THEIR OWN FREE WILL just because they don’t want too. Not because they can’t due to illness, unemployment, divorce. They just don’t want to anymore.
So while I too will probably see this movie, go into with your eyes open folks and remember that this stuff sells tickets and puts assess in the seats.
Westcoaster
June 7, 2015 2:44 pm
@Bea Lever: The “progressives” have zero to do with home foreclosure, although I know they’re the “whipping boy of choice” here at TBP. Open your eyes and look toward Wall St. if you want to learn who the real evil bastards are. And if you sincerely want to learn the Main st. view on foreclosure, check out this site: https://livinglies.wordpress.com/
I know about this because my family went through it. By the way, no progressives were involved, just black-hearted, lying, evil, bankster scum.
Bea Lever
June 7, 2015 2:59 pm
Westcoaster- Sorry to hear of your displacement from foreclosure, sincerely.
Just as the banksters financed the rise of Hitler and the German political transformation , don’t kid yourself that Wall Street was not involved in Oreos rise out of nowhere to move this country straight into the toilet bowl of history.
I can agree with you 110% that banksters are evil lying scum.
bb
June 7, 2015 3:03 pm
Westcoast , you know the truth. it was really global warming that cause those bankers to go bat shit crazy. So it’s not their fault.
Bea Lever
June 7, 2015 3:15 pm
Westcoaster- Wall Street was Oreo’s biggest contributors in both elections. That has been posted here many times.
Iska Waran
June 7, 2015 3:39 pm
Buyer buys house with zero down, sometimes using a reduced doc loan, promptly ceases making the payments they’d agreed to make, lives there for for 3-6 years for free making no payments whatsoever. Lender eventually forecloses and gets 55 cents on the dollar – and I’m supposed to be angry at the lender? Anyone who invested in hinky bonds sold by that lender (or a conduit) may have a grievance, but homeowner who lived there for free for a long time after putting zero or close to zero down? They have no grievance. They assumed house values only go up. They were wrong. All of our house values went down – even those of us who bought putting more than half down. Most of those who suddenly, mysteriously “couldn’t afford” the payment they’d so recently agreed to make were those who had put little to nothing down. There were a few people whose homes were foreclosed by mistake, etc., but 99% of foreclosures were people who just didn’t want to make payments on an upside-down house.
Stucky
Author
June 7, 2015 3:58 pm
” … 99% of foreclosures were people who just didn’t want to make payments on an upside-down house.” ———-Iska Waran
Stop pulling stats out of your ass.
” … and I’m supposed to be angry at the lender?” — ———-Iska Waran
You don’t have to be anything. In fact, if you want — stop by your bank and give all the managers a blow job for all I care.
Iska Waran
June 7, 2015 5:21 pm
Obviously 99% is a plucked from ass statistic. The exacta figure is 95.467% The point is that people borrowed money and didn’t pay it back. In such a situation, the screwee is the one who didn’t get paid back, not the one who borrowed the money and didn’t pay it back.
bb
June 7, 2015 5:21 pm
Stucky , you big ape : stop being so mean to people.
IndenturedServant
June 7, 2015 6:29 pm
What happened to our own Mary Malone? I’ve seen her post one or two messages in the last couple of years. She had a fantastic post on the scam known as the foreclosure crisis that admin graciously kept bumping up for about a year. Last I saw her post had over 2000 comments. She even tried to help my brother but he finally said fuck it and moved on. He’s building his own home now and doing it without bank financing.
starfcker
June 8, 2015 12:06 am
Best scam I’ve seen is a firefighter I know. Paid 350k for his house. Appraised value went up to 800k, he cashed out 350k. Bought a 40 acre farm in Tennessee, cash. Bought a new king ranch pickup truck, cash. Market crashed, he stopped making payments for 3 years. The bank finally made a deal with him, wrote off the second mortgage. So now he owes less than 300k. Appraised value has climbed back over 750k. WTF
This is an eerie looking movie.
Michael Shannon is one of the best “new” actors around regarding the villain role. Did a helluva job playing General Zod in the Superman movie.
How about this scene, especially starting at the 30 sec mark. How many times have you wanted to shake your complacent friends or loved one and shout in their faces “THERE’S A STORM COMING!!!!!!”
Is this one of the movie’s that starts an awakening ?
It is my understanding that mass foreclosures are coming, however most will be given the opportunity to rent their homes and stay in them as mere “renters”. So yes, we will be a nation of renters.
The progressives are doing a fine job of moving us along into a Soviet style
Commy government where private ownership of property is a thing of the past.
So I have to weigh in here. For anyone that doesn’t know, I sell real estate in MA. 99% of my business is foreclosed homes. Most of those are reverse mortgage foreclosures, which generally means the former owner is deceased and the note came due upon death and they are upside down so the bank just forecloses. Generally these are already vacant.
But, some of the foreclosures are occupied, by either the former owners or tenants. The movie “99 Homes” looks like it took place in Florida, second only to CA for shady real estate deals and corruption in the real estate market in my opinion.
Here in MA, even FORMER OWNERS are protected by eviction laws, and are considered “tenants at sufferance” which basically means pretty much what it sounds like, the new owner is suffering them to live there. They are entitled to the full eviction process, which in MA can vary depending on many factors. Handicapped or disabled people, the elderly, and folks with children under 5 cannot be evicted in the winter. The eviction has to be initiated in writing, and I am usually the first point of contact for the occupants. I can tell you unequivocally I am nothing like this character in the movie.
I feel really bad for the most part, and try to be sympathetic especially if it’s a tenant and not a former owner. Some tenants don’t even know the foreclosure happened, and scummy former owners continue to collect rent from them after the auction date, don’t pay the water or trash or take care of the property. That’s not the norm though from what I’ve seen.
The bank makes what’s called a “cash for keys” offer, which basically offers money for the occupant to move in about 30 days and leave the place in the same shape it was in and broom swept with no trash.
I have seen amounts from 1500 to 10,000 depending on the circumstances and the occupant, but the average is about 3500.
If occupants decline, the eviction can still take 4-6 months if the occupant has half a brain and shows up for the court date.
I recently had one where the court allowed a man, not elderly or disabled, to stay in the house for 9 months, rent free.
The bank has to keep the property in good shape, pay the water, sewer, taxes, etc. It does have the right to collect fair market rent, but most banks don’t bother unless the occupant is legally section 8 and the payments just show up.
Collecting rents establishes tenancy for the most part, and it’s not worth the hassle so they don’t bother.
Once a bank, or any other owner, opts to move forward with an eviction, and a person does not follow the court ordered date to vacate, the owner contracts with the local Sherrif’s office and a locksmith, and show up. Keep in mind, the occupant has had multiple notices in writing of dates. it’s not a surprise.
The sheriff knocks, if no one comes to the door, the locksmith opens the door and changes the locks. The occupants are escorted out, and the owner MUST get a moving company to come and pack up their stuff and put it in a storage unit for 1 month. After that, it’s on the occupant to either continue to pay storage, or get their stuff.
Even personal property over 500 dollars has to be evicted in MA. Seriously. Your couch has to be evicted.
Southern states, on the other hand, have very different eviction laws. Less notification times, no seasonal restrictions, and for the most part your stuff goes out on the curb and you are SOL.
I believe the real estate broker portrayed in this movie is probably one of the ones who was involved in collusion, harassment, and illegal evictions. Many occupants are unaware of their rights at all, and are easily intimidated.
He very well have been scoping out more prime homes to buy for himself and flip for a profit, also prohibited by law, at least here anyway.
Florida real estate, at the height of the collapse, was really bad. You could pick up a 2000 square foot ranch home in a decent neighborhood for pennies on the dollar, go in an clean and paint, and either rent it out or sell for a profit.
These predatory brokers were doing just that. The banks were so overwhelmed they could barely keep track of what inventory they had, never mind figuring out who was buying what.
Some of the scenes in the trailer look like purposeful vandalism, which I have seen but doesn’t happen all the much at the hands of agents. Basically, and agent or broker who got assigned a home purposefully took out the copper pipes, AC units, appliances, even cabinets and sinks, sold them (or kept them, I’ll get back to that), and then told the bank the former owners or thieves had stripped it and now the house was now worthless. The bank sold it for a song to the agent (or a partner set up to pay cash so the agents name was not attached), the agent put all the stuff back in that they took, and VOILA! Profit!
Also, some of the so-called “property preservation” companies that are independent contractors for the bank (which Andrew Garfield apparently seems to become via evil Broker) would steal appliances, copper, cabinets, sinks, and AC units as well, claim they were already gone, and sell for profit.
Evil Broker seems to have all the corrupt bases covered. Collusion, theft, fraud, intimidation, etc. How much is true and how much sensationalized? Who knows. But this character is an amalgamation of all the bad stuff out there associated with real estate, and basically will push every emotional button of the viewer. That’s what sells tickets. It’s not reality for the most part.
I would like to point out, that while there are certainly many good, decent, hard-working people who got screwed over by their lender, there are also A LOT of stupid, greedy, crooked owners who used their homes like an ATM machine thinking the party was never going to end, and then got caught with their proverbial pants down when the market went shitty.
I see homes originally purchased in the 80’s as new construction for market value then, which is around 75,000 for a 1000 +/- square foot ranch, which now has been refinanced every year since 2000 up to the sky and the owner has a mortgage now of 250K but that same ranch is now only worth about 150K. Seriously. And what did they do with the money? No clue, because from what I have seen they certainly are not putting on additions or garages, or finishing their basements with it.
So my guess is paying off their ridiculous credit card debt they manage to rack up every year.
There are also a lot of owners who can pay their mortgage every month, but because their home is no longer “worth” what they paid for it, they just walk away. Snap, like that. They, the very entitled people they are, feel that they no longer should be responsible for a contractual debt they SIGNED OF THEIR OWN FREE WILL just because they don’t want too. Not because they can’t due to illness, unemployment, divorce. They just don’t want to anymore.
So while I too will probably see this movie, go into with your eyes open folks and remember that this stuff sells tickets and puts assess in the seats.
@Bea Lever: The “progressives” have zero to do with home foreclosure, although I know they’re the “whipping boy of choice” here at TBP. Open your eyes and look toward Wall St. if you want to learn who the real evil bastards are. And if you sincerely want to learn the Main st. view on foreclosure, check out this site: https://livinglies.wordpress.com/
I know about this because my family went through it. By the way, no progressives were involved, just black-hearted, lying, evil, bankster scum.
Westcoaster- Sorry to hear of your displacement from foreclosure, sincerely.
Just as the banksters financed the rise of Hitler and the German political transformation , don’t kid yourself that Wall Street was not involved in Oreos rise out of nowhere to move this country straight into the toilet bowl of history.
I can agree with you 110% that banksters are evil lying scum.
Westcoast , you know the truth. it was really global warming that cause those bankers to go bat shit crazy. So it’s not their fault.
Westcoaster- Wall Street was Oreo’s biggest contributors in both elections. That has been posted here many times.
Buyer buys house with zero down, sometimes using a reduced doc loan, promptly ceases making the payments they’d agreed to make, lives there for for 3-6 years for free making no payments whatsoever. Lender eventually forecloses and gets 55 cents on the dollar – and I’m supposed to be angry at the lender? Anyone who invested in hinky bonds sold by that lender (or a conduit) may have a grievance, but homeowner who lived there for free for a long time after putting zero or close to zero down? They have no grievance. They assumed house values only go up. They were wrong. All of our house values went down – even those of us who bought putting more than half down. Most of those who suddenly, mysteriously “couldn’t afford” the payment they’d so recently agreed to make were those who had put little to nothing down. There were a few people whose homes were foreclosed by mistake, etc., but 99% of foreclosures were people who just didn’t want to make payments on an upside-down house.
” … 99% of foreclosures were people who just didn’t want to make payments on an upside-down house.” ———-Iska Waran
Stop pulling stats out of your ass.
” … and I’m supposed to be angry at the lender?” — ———-Iska Waran
You don’t have to be anything. In fact, if you want — stop by your bank and give all the managers a blow job for all I care.
Obviously 99% is a plucked from ass statistic. The exacta figure is 95.467% The point is that people borrowed money and didn’t pay it back. In such a situation, the screwee is the one who didn’t get paid back, not the one who borrowed the money and didn’t pay it back.
Stucky , you big ape : stop being so mean to people.
What happened to our own Mary Malone? I’ve seen her post one or two messages in the last couple of years. She had a fantastic post on the scam known as the foreclosure crisis that admin graciously kept bumping up for about a year. Last I saw her post had over 2000 comments. She even tried to help my brother but he finally said fuck it and moved on. He’s building his own home now and doing it without bank financing.
Best scam I’ve seen is a firefighter I know. Paid 350k for his house. Appraised value went up to 800k, he cashed out 350k. Bought a 40 acre farm in Tennessee, cash. Bought a new king ranch pickup truck, cash. Market crashed, he stopped making payments for 3 years. The bank finally made a deal with him, wrote off the second mortgage. So now he owes less than 300k. Appraised value has climbed back over 750k. WTF