Friday, June 12, 2009

More Celebrity Real Estate Foreclosure News

Yesterday Your Mama prattled on about Real Housewife of Orange County Jeana Keough who was reported to be in default on at least one of her four properties and seeking a loan modification from her lender on the $1,300,000 mortgage she carried on her primary residence in Coto de Caza. Not long after our little discussion we heard from Miss Kitty Glitter who kindly linked Your Mama over to the latest OC Register article about the beleaguered real estate broker's real estate woes.

Well puppies, not only did the reality tee-vee starring property purveyor rather bizarrely thank OC Register writer Mark Eades for making her aware of the Notice of Default(s), but she also thanked a bunch of other men for helping her to successfully complete a loan modification.

She went on to give updates about her trio of spoiled children and then mentioned at the very tail end of her letter that she will "probably sell the house." According to Miz Keough, the house (shown above) measures "8,500 square feet with a guest house on a 1.2 acre with 6 garages." She also claims "her $6.5 million house is now worth $5 million."

Now puppies, we freely confess that we do not know the banking bizness from a hole in the ground but can someone please explain to Your Mama how a ladee with a house (allegedly) worth five million dollars, a mortgage of only $1.3 million and three additional income properties qualifies for a damn loan modification? Pleeze. Iffin anyone asked Your Mama, and of course no one did, we think bee-hawtcha should have been selling off her properties when she saw this real estate storm brewing a long time ago.

The second celebrity foreclosure situation we would like to share and discuss with the children is that of ack-tor Stephen Baldwin. Stephen is the bible beating Baldwin not to be confused with his more successful and talented but no less troubled brothers Alec, Daniel and William. The last we heard Mister Stephen Baldwin was hanging around with that shameless publicity seeking father of Lindsay Lohan and currently appears as a contestant on the reality program I'm a Celebrity...Get Me Out of Here which is truly where b- through d-list celebrity careers go to die.

Anyhoo, according to recent article, back in 1997 Mister Baldwin and his graphic designer wife Kennya–that's right children, she has got two damn "N"s in her name–bought an 1850s era house on a 1.4 acre property on Old Mountain Road in Upper Grandview, NY (shown above). In 2006, according to the report, Mister and Missus Baldwin listed their 3 story, 4 bedroom and 4 bathroom house with an eye popping asking price of $3,400,000, a breathtaking increase over the reported $515,000 they paid for the place. But alas and perhaps not surprisingly, there were no takers.

Over the years, according to the report, the devoutly Christian couple ran up their mortgage and eventually defaulted on an $824,486.36 loan from the Bankers Trust Company who has foreclosed and intends to auction the property to the highest bidder on June 24.

Like Your Mama has said a thousand and one times before, we do not care to dance on the real estate graves of eh-nee-one, but Your Mama is not going to waste one minute worrying about Mister Stephen Baldwin and his wife Kennnnnnnya because we're just sure Jesus has their backs and best interests in mind.

Baldwin photo: Vincent DiSalvo/The Journal News

67 comments:

Anonymous said...

Oh Mommy! Your Jesus comment made my day, praise your name!

PITYPATTYPROPERTYPIMP said...

please allow me to address your comments mama about ms Keough. The "mood" out there in this economy is that all homeowners , especially those with nice homes did something bad or wrong,also Evil landlords. I am not sure where this comes from, but alot of the public has anger or perhaps its jealousy over people who own property. Its like the public wants to "demonize"these people. Ms Keough owns property. I own many properties, in order to get a loan modification you have to be willing to stop paying and ruin your credit. those of us with properties have seen our tenants bail on us, break leases and then find that the rents are also 30% to 40%lower. so we survive. get loan mods (hey the banks got bail out money) whynot? many like my self have owned properties for over 20plus years.no one is looking for pity, but the anger seems misplaced. also why did the word real estate "speculator" get such a bad rap. someone has to take the risk to buy and fix up and sell homes. Its a risk, and if no one did it, there would be no "fixed up"homes. Too often its the people who sat on the sidelines, never took any risk that shout out, HA, YOU EVIL speculator... I think they call it monday morning quarterbacking.. anyway, this is not directed at you moma, just to educate people.Ms Keough has a right to continue to enjoy her like, shop, eat, ect. just cause she is modifying her loan, also keep in mind this is a tv show, would not be too interesting if she sat home and ate rice and beans just so she could pay her full mtg payment

Anonymous said...

I was shocked when I read about Jeanna qualifying for a loan modification. I must admit that it's mostly sour grapes on my part. I was laid off from my job of 16 years last November. I was luck to get some severance pay and be able to collect a minimal amount of unemployment compensation ($260 per week or thereabouts here in FL)- and I was a dedicated saver. I have kept current on my mortgage payments and other bills and my credit score is still in the 800s. I thought for sure that one of the bailout programs may have been applicable for my situation. I don't have a jumbo loan, I didn't overfinance myself, etc. But the mighty BOA has told me to jump in a lake at the moment LOL.

I don't think that those funding programs should be used for investment properties. I come from a family of real estate developers up in New England - real estate should be about quality, afforable housing for the people - it's not a ponzi scheme. Folks who buy a house, slap a coat of paint on it and jack the price up thousands of dollars are part of the problem.

Jimmy said...

Re: Jeana Keough. If I was holding a $1,300,000 mortgage on a place I would want to modify it and not have it end up as an REO

Anonymous said...

Are you fucking kidding me PropertyPimp?

Obviously I know nothing about your situation, but if you've owned properties for more than 20 years and they are now so heavily mortgaged (in order to fund other ventures or an excessive lifestyle) that you needed loan mods it's YOUR FUCKING PROBLEM that you can't make the payments anymore. Not mine. Not the taxpayers and not the banks. Yours. If you've owned those properties for 20 years they should be close to paid the fuck off not mortgaged to the hilt.

Secondly, as for Jeana eating beans and rice, that is simply preposterous. The fact is if she can't afford her $1.3M mortgage anymore than guest what? It's time to sell the fucking house. If her house really is worth $5M (which I highly doubt), then she could sell it for far less than that, pay off the $1.3M and still pocket a million or more. Isn't that what a reasonable person would do?

Being a real estate investor is a business and just like any other business if you mismanage your assets or even due no fault of your own get caught with your pants down, it's still on you. It was YOUR FUCKING RISK. Suck it up and deal with it, stop looking for handouts and stop your fucking whining.

As for Jeana, well, wasn't she making good money from that stupid show? Where did all that money go? Oh, that's right, it went to her excessive lifestyle and now she's broke and wants the bank to bail her ass out because she bought her fucking kids $50k cars. Come on. I think public anger at that sort of situation is fully justified.

StPaulSnowman said...

Will someone please help me to understand how a sane individual could ask 3.4 million for this place. I don't know much about the location but I do have some experience with old houses and what they sell for in different parts of our country. This just stymies me...........unless, of course, Mr. Baldwin was hoping for a miracle.

PITYPATTYPROPERTYPIMP said...

anon 2:40...you may want to start buy looking at the anger you have. obviously the post has caused you to get your panties in a wad. your comments are short sighted and honestly sort of foolish. yes, we all hate to hear that A.I.G , BANK OF AMERICA. ect.. and others got bail out money. but before you go on a tirade on a little real estate site,do your homework. even bernake states, if the attitude is my neighbors house is on fire,but screw him he should not have had a shake roof, well, its no long before the whole neighborhood would burn. dropping the price on a house does not guarantee a buyer, i had a property worth 3million, (my golden parachut) dropped it dropped it dropped it and then thebuyers could not get loans. The people who spout off like you are almost always living in some 500sq ft studio apt and have no clue. no one looking for pity, but probably in Ms.K situation. she can hold on till the market is better, she was not reckless. 1,300,000 on say even a 3million house is pretty conservative, maybe thats the last house with any equity. she is not going to live off 2million at 4%interest. $6500 a month, get a clue, again, not everyone should have to go work at walmart just cause the economy tanked, even if in your naive little world you think the world SHOULD work that way...IT DOESNT... she needs min 25k to 30k month to get by I am sure. and why not, shes 50something she earned. so anon 2:40thanks for sharing but the boss says someone spilled something on aisle 4.get your ass over there.

Anonymous said...

I guess you really got my number Property Pimp. You're right. I work at Wal-Mart and live in a 500 sq. ft. studio. I'm also eating cat food for dinner.

But that's okay, at least I have some integrity unlike you and Jeana who just want to whine about how you can't afford a Mercedes anymore.

And P.S. I never suggested that Jeana work at Wal-Mart but just because she once made enough money to pay a $1.3M mortgage does not entitle her to that lifestyle the rest of her life. The entitlement of the rich is what is so galling and upsetting about what you're saying.

Do you really think that you or Jeana are entitled to that lifestyle? It sure sounds like it. Whining rich people are even more annoying that angry poor people like me.

Now if you'll excuse me a car has just pulled up to the drive up window.

Anonymous said...

PropertyPimp, 2:40's reasoning is sound, and points are well taken. 2;40 summed up the 'why people get angry' scenario perfectly, and you prove why. It has nothing to do with jealousy on the part of regular folk who make every attempt to manage their affairs responsibly, and everything to do with that segment whose sense of entitlement makes them think they deserve a free pass despite mismanaging theirs. I mean, listen to yourself - "And why not, she earned it." Perhaps she wasn't flat out reckless, but she was caught up in a free spending lifestyle that was irresponsible or she wouldn't be in the predicament she's in now. Like Mama said, she should have reined herself in long ago, and didn't. That's strictly HER problem.

Rock on 2:40! You know what you're talking about.

Anonymous said...

Where is Upper Grandview, NY in relation to Manhattan?

Anonymous said...

According to that OC Register article, Keough owns 3 additional properties and she has tenants in those homes.

Since she's not paying, in hopes of modification, is she still collecting from the tenants? I'd guess so since she seemed unaware about her notice of default status.

If Miss Keough fails to get the modification, her currently-paying tenants may find themselves out on the street.

And as last season on that "reality show" featured Miss Keough heartlessly shrugging as she helped a client do a short sale, does anyone believe she didn't see this coming?

Katie said...

A little west of the Hudson, Anon 6:01. Near Nyack, if you know that area. It's pricey; pretty easy commute to Manhattan. Under 30 miles.

Anonymous said...

mama
that was a low blow about steven baldwin....Jesus having his back...
stick to the property discussions...
I couldn't care less if he lost the house or not.

Anonymous said...

Thanks Katie. :)

Viva! said...

I love Jeana Keough...thus...though I totally get why people hate people like her...I'm glad if she did get the loan modification. If she didn't, I hope she does.

Anonymous said...

Viva! is your love strong enough that you'd cough up the money out of your own pocket to pay for her kid's cars etc, or do you only support a loan modification because OTHER people are paying for it? Just something to ponder.

Anonymous said...

I think property pimp doesn't understand the definition of "speculation". Speculation means you might win some, you might lose some. You don't go begging for a bailout from the bank because you took a bad risk. And I agree with the others, properties owned 20+ years but still have high mortgage balances? That is an moron deserving to have his credit ruined and lose the properties.

Anonymous said...

I live by Baldwin's house and it has amazing Hudson River views. The commute to the city is under 25 minutes and the town is sweet and charming.
Here are some interior pics of the house:
http://www.luxist.com/gallery/stephen-baldwin-in-new-york/2079913/
Baldwin's neighbors along the Hudson include Rosie O and Bill Murray...a quiet community of quirky celebs.

Anonymous said...

I just took a moment to read Jeana's letter via the OC Register link Mama provided, and it's a cartoon. Here's an excerpt where she thanks all those who are keeping her looking good despite tough economic times:

"[Thanks to] my dear friends who have helped me Bridget Godardt of Pure Indulgence med spa and facials, Ken Pavis, and Kym Wyman for always keeping my hair looking good, Sabrina from Glitter Girl and Sky tops from Robertson Blvd, Liza from La Diva for always making me look good."

And that's just a sample. She also thanks her Life Coach, and on and on. I actually feel a twinge of pity for her meaningless existence.

leona helmsly said...

ok, totally convinced now that the morons that post here are 100% made up of "wanna bees."... this conversation is pointless. like trying to give an education to people who write into star magazine and grip cause brad pitt pays $100,000 a month rent. who gives a damn... the moron wanna bes who post here who will be working the drive up windows till they are 80s. same as the moron realtors that walk into multi million dollar homes and sniff up their nose at the decor and then go home to their west hollywood bachelor apart.. such idiots. many people had tons of equity. billionaires lost 40% and 50% of their wealth. so of coures its going to look like their are leaveraged now, they were not reckless. who would have thought that general motors would declare bankruptcy, people had general motors stock for generations, they had jobs for generations. this did not happen graduall, it happend in less than 24mths. Those of you who have not felt it can bitch at the "rich" cause when you never had much, well, your life really does not change much. cause you always sat on the sidelines. cheering when others hit a bump in the road. the great thing is that people who made the wealth themselves . SELF MADE. they are brave and smart and have no problem to make it again. its a great time to be late on your mtg, so what, get a mod. lower payment, clean your credit ,move on. they people are survivors, and the rest of you are scmucks.

benny benake said...

did none of you wild posting little "minions" losers , lackeys. never take a basic high school economic class. if people like ms. k is not out there lunching and buying mercedes , well, look at the st.regis. going bankrupt. look how many people are going to be out of work, busboys, parking valets.. ect.. maids.. people have to spend money, what in the hell do you think a check is. its faith that things will be ok, and peoplehave to feel safe. EVERYONE. to go out an spend, that is what happened here, the damn media took a bad spell that would have passed in about a year, but they blew up the whole mtg cris's and made it much worse than it really ever would have been, the percentages of homes in foreclosure even as late as 2008 were less than 3% but the media flamed the fear until everyone stopped spendingmoney, we were close to another depression very close, so dont tell me people were reckless, thats just ignorance, no one could have prepared for this, how does someone prepare for losing their job and not being able tofind work for over a year, feeding kids , house payment, stop being such heartless morons. wait till the 1,000 plus people now being laid off by american airlines fend for them selves.....oh, they should have seen this coming......the ignorance on this site, (everyone but me) well its just criminal

Anonymous said...

Benny/Leona/PropertyPimp, you use a different famous name for each comment, and we're the wanna bees? Your rambling tirades read like you forgot to take your meds today. Who could have guessed the ecomony would be in the shape it is now? Surely not the sanctimoniously smug like yourself. In the leadup to the 2004 presidential elections, top economists were practically in a frenzy trying to warn people that the economy couldn't sustain a 2nd Bush term. HELLO. Now find somewhere else to take out your misplaced frustrations.

Anonymous said...

I'm with 2:40

Dumb broad should sell a few of her houses.

Anonymous said...

And how much do you wanna bet that Jeana, who is praising Obama now, voted for Bush in 2004 because she deluded herself into thinking his gravy train for the rich would never end. Ha.

Anonymous said...

Property Pimp I think think you're on drugs. Coke or something.

I also think you're just bitter because, my guess, you're over extended and modifying your loans in an attempt to save yourself from foreclosure. I bet your just a few tens of thousands away from losing everything.

Am I right?

I'm not gloating at your circumstances, but if I'm right it explains your need to justify over-leveraging yourself in the name of capitalism and keeping restaurants open

bethamy said...

no, actually pretty astute investor, managed to hold on to alot. not like those in the stock market which is bascially gambling.listen, the world is made up of those who live mediocre lives and sit back and watch the rest of us live great lives.Jeany k has a fun great life. i like her. no, I am too smart to lose something, the u.s. economy and capitalistic system is so wonderful that its made up to help people like me, and i plan to always take advantage of that. I moved here with nothing and if the rest of you beggars cannot make something of yourselfs then stop your whinning, the banks got bailouts,the investors got bailouts and I got a bailout, why not, its us "doers" who make life interesting for the rest of you poor souls who work in office buildings all day for peanuts. sorry, but life is still very good, but if it turns I will let you all know, until then, i will continue to take advantage of whats avail, and theres alot , the rest of you are just too scared to touch your little $2,500 dollar cd at the bank. sorry, but the "haves" will always control the "have nots" thats the way it has to be.........i mean come on, none of you I am sure even own a piece of real estate. (and moma this is not a dig at you) but you are also a renter. comeone, get off the sidelines. stop being so afraid....look how donald trump made all the banks help him out, they could not let him fail. although he is not self made. its the self made types (and no, i am not including all of you hooker realtors with rich old men boyfriends and hag realtors that live off their husbands) I am talking about people like me who created alot from absolutely nothing, we are the ones who go out and build and create while the rest of you sit at home and boo and cheer from your sofa. I worked hard since I was 14 , nothing from parents or rich old lovers, so, that is called SELF MADE and few very few can make that claim if i sound like I am on coke , I do no drugs, its because i enjoy the life i have created for myself, ok truly done here, nothing for someone like me to learn from a bunch of going no where types.... adios

tippytoes1 said...

Well, Jeana WANTS Obama's bailout, but she was touting W giving her the volunteer award. Or, his drubken representative. Who knew that "donating skanky tops" merited a Presidential award?

Can anyone, all those speculators (?) answer---with her 3 rental properties, does anyone think she's collecting rents, as she's not paying mortgages to get the deal?

What about the working class, entering into a lease with her (a realtor, and maybe reputable?) to find her modification gamble may have their family on the street? Um, as they pay the ridiculous rent?

Keough is playing hardball (pardon he pun) with her soon-to-be ex. She doesn't want the assets on paper, so better to cry poverty. With about 10 mil in property...poverty is the way to go.

perry mason said...

cause I am nice guy , I will leave you going no where types. a bit of advice, jeana k is a doer, top selling agent, she got a divorce, shit happens. but she knows this i am sure ,and I know this, always spend your dollars on very good,expensive, the best attorneys, with that you will never ever lose...... sorry, but its everything, that is our system how it is set up, and fastfood boy, annoy 2:40 if you think that lacks integrity, well, u have not been around, expensive attorneys allow you to control pretty much any situation.. the sooner you learn that, the better.

lolly said...

Perry Mason...we're not "going nowhere types." We leave that to Jeana (and..maybe you?) as she screw her ex out of property. Oh, and the idiots paying rent!!

Jeana isn't a "doer." She helped others into short sales, on her little tv show. Double dipping---they paid her commision as Bravo paid her salary, yet she plays dumb about the market. And her 4 homes in foreclosure.

She hasn't signed back on to her "reality" show because:

A) she's failing at the profession she, last week, said people envied her at and

B) she's a spiteful woman who'd rather have her ex lose...even if it means she loses it all.

Jeana was do-er, in all senses of the word, as a Playmate. THIRTY years ago. She cam't earn money by taking her clothes off anymore (possibly by the threat as people would pay her NOT to). Her kids are abusive brats and she's not paying a mortgage on any of the houses she owns.

I'd love for anyone to break it down. She has three renters....and they pay rent. She (CLEARLY) does not. Jeana prentends to not know she's in default.

What happens to the renters, still paying rent? Anyone?????

nycsnob said...

Oh, and "Perry?"

Jeana has been legally separated since before the bubble.

Divorce happens? When was Matt's head injury? DWI?

It predates the Housewives series (IE, more than 4 or 5 years ago). Uh, remember when JO lived in Coto de Cazo?? Yeah. That's when Jeanna's marriage PUBLICALLY fell apart, but to listen to her on tv, that's rhe easiest date.

She said, "We own four properties and I told Matt to choose one." She knew THEN she was upside down.

Don't play the "divorce happens" bullshit. Jeana's kids have been on Bravo, for at least four years, talking about heir parents separation and Matt's hospitalization and DWI. This didn't materialize ou of thin air and cause her the conundrum she is currently in. Please...even Bravo doesn't try to manufacture the BS you are spewing.

Jeana tried (and failed) to secure $300-$500,000 for the upcoming season. When they laughed (as a second rate cable network and a show based on a neighbor filming across the closed gate of Coto, as the show started out....and less than 10k a family....well, Jeana was as delusional as she showed herself on camera.

She coldly helped with a short sale (and not enough commission) and as the long time owners sobbed, while signing the papers, Jeana robotically old the audience that it was a sign of the times.

When Jeana is homeless....stellar realtor that she is, and as she takes down her rentors....I will bask in her humiliation.

Anonymous said...

too many know-it-alls posting too-lengthy posts--geez. If I want experts, I'll go elsewhere. Let's dish. As for Baldwin-- I knew that the Waverly Inn was o-va when he turned up there one night a year or so ago-- he may be all religiousy, but he still likes to Baldwin-preen at hot-if-passe- boites. As I recall, no one even took note of him (except me, of course).

Consuela...the housekeeper said...

Mama I'm in the loan modification "process" myself and I feel for that poor girl. This is scarey for me. Anyone know where I can get some pointers on how to treat these sharks? I don't want to become chum...Yeah. The kids made us watch Jaws again...

Can someone shed some light on the loan modification process and how I can monitor it, etc?

angeleyes said...

Consuela, no need to feel sorry for that "poor girl". She's far from poor with between $5 and $10 million in property assets. Jeana played the system to obtain a loan modification intended for people who really need it. All you can do is sit back and wait for the bank to make a decision.

angeleyes said...

Good Luck by the way :)

angeleyes said...

Consuela, an afterthought. Do a Google Search for 'loan modification' and rifle through the articles until you find one that answers the questions you have. That's the best way I know of to obtain accurate, detailed information.

Anonymous said...

'Leona Helmsly' and the 'property pimp' persons are one and the same - Jeana herself. Same grammatical errors, same defensive rant. Don't you have boxes to pack, you loser bitch?

NewYorkQueer said...

My my my what a day of contention here on my very favorite web site. Mama let me say that your remarks on the Baldwin religious freak are right on the money. Let je-he-a-s-s-suusss save him as he surely believes he will be saved and even "raptured" I bet. As for the rest of the whining real estate failures, you leveraged yourself into the poorhouse...so what, get over it and get back to work. Might want to leave that 6,000.00 Prada bag that you bought with your refinance money at home though. BTW its only 500 sq ft but it's in the charming West Village in NYC with a working fireplace and a private garden, and paid for, so bite me.

Anonymous said...

Wow, what anger.

So, let's try this approach...

Explain to me please why if you were a family that - say - made $50,000 and borrowed $500,000, you get help from the Obama administration and must have been a "victim" of the evil mortgage brokers. But, if you made $250,000 and borrowed a million (a far more conservative and safe bet) you're evil and endemic of what went wrong and get no help?

There IS not answer except populist rage against the "haves" (like $250,000 in LA and the OC is really a "have"), an "arbitrary" decision about class and a lack of logic.

This just happened to a friend of mine in the Hollywood Hills. He started a company, employed (created!!!) 50 jobs for people, the bust hit, he stopped paying himself (so he could KEEP PAYING HIS EMPLOYEES!) for 6 months. After that, he couldn't hold out any longer, folded the company and lost his house.

He COULD have kept all the rest of the cash over the last 6 months for himself to save the house.

To the government, he's like some high flying AIG executive - screw him. None of the programs applied. His bank would only work with "conforming" loan modification as that's what the Gov't paid them to do.

So, he did what was left - don't pay another penny, fight them in court on technical grounds (can you actually product the original lien since the loan was sold 4 times).

Why do we hate the people who do well? Why does their fall create glee?

Do we want to save the people who "create jobs" or the people who "take jobs?"

You may hate the OC lady, but if she sold $50MM in property and put ALL that money in the local economy (including the cars for the kids you hate), she created a LOT of jobs and a lot of spending money for a lot of people around her.

It's economics 101: the GNP is the cash in the system X the number of times it's SPENT (the multiplier effect).

It's why I decided to NOT stop eating out, etc. Why I bought a new car (didn't NEED one) Those with some money help the economy by spending it.

If you (AND the Gov't) punish that spending with programs and or hate, the economy will take A LOT longer to come back.

Now stop whining and go create some jobs...

NewYorkQueer said...

BTW I created 25 jobs, mostly for straight people in my business, since sold and still going strong even in this economy. This seems to be important to a few here so again I say Bite me. I never had that Prada bag or that gas guzzling BMW but I did have a savings account and a paid for house. So lets recap shall we... I created a business, 25 jobs, a savings account, a paid for house and a secure future that is paid for by my industry. It is called financial responsibility.

Anonymous said...

AMEN to personal responsibility. If you can't afford it, whine until someone HELPS you. I have not taken any TARP money, I planned for the future. I didn't take out more loans on my homes declining value. Can't PAY, Can't Stay. Let that neighborhood full of idiots burn to the ground! Interest rates will soon skyrocket as our country deals with the RIDICULOUS deficit. CASH is ALWAYS King. If you "speculated" or made a bet you couldn't cover.......Getting what you deserve.

Anonymous said...

I'm still RICH because I KNEW GM would fail. The writing has been on the wall since the early 70's. DUH

Anonymous said...

Miss Leona, I'd bet my money "the moron wanna bes who post here who will be working the drive up windows till they are 80s" bought a lot more General Motors cars in the last 24 months (according to you the period of the company's downfall) than you. What are you and your GM stock holding, entitled neighbors driving these days?

Anonymous said...

Oh Mama. Couldn't we have a policy of separation of Church and real e- State? Leave Jesus out of this.

Jim Jones said...

anon 11:43.......have some Koolade!

Anonymous said...

Does anyone know whether Richard Gere dumped his Schnabel load yet and who took it?

Free Willie said...

How do you leave Jesus out of it when discussing someone like this Baldwin guy who never stops talking about his relationship with Jesus?

I think Mama's comment is funny and spot on. Rock on Mama.

Anonymous said...

But you "responsibility" advocates (not that responsibility is bad) ignore the bold-faced and arbitrary "social engineering" our quasi-Socialist Gov't is creating.

Either EVERYONE gets NO help ("can't pay, can't stay") or everyone GETS help.

Why is the person with a high income (and perhaps a more conservative debt to income ratio) unworthy?

Why is the person who borrowed 10X their lower middle class income worthy of a "bail out?"

Why does the $500K house get saving and the $1MM house does not?

On top of that, it's not pegged to where you live. The $400K house in Kansas IS a $2MM house in LA. So the "rich" person in Kansas gets help and the "middle class" person in LA does not.

The upper income people I know struggling to keep their homes actually were - in many case - more
"responsible" than the people getting help - 20% down, not 105% mortgages, borrowing 3X, not 5X their income, yet, the upper income people are scorned...

Why?

Anonymous said...

1.) These loan modifications should only be for primary residences. However, the foreclosure process costs banks LOTS of money, so from their stand point "modification", regaurdless of whether its the right thing ethically to do for the owner is cheaper, and therefore better for business.

2.) People who have owned property for more than a 10 years and don't have any equity did it to themselves. While the market has come down heaps in certain areas, the areas its dropping drastically in are the areas that had INSANE appreciation in the past years. If you re-fi'd or pulled out equipty and blew the money, it's your own damn fault! If you bought a property 20 years ago, even with the plumiting values the property should be next to paid off and still is worth WAY more than you paid for it $20 years ago. There is NO market in the country that has dropped that much that prices are back at 80's prices., It's just plain stooo=pid!

Next, all these people with high net worths and assetts should be pursued for damages when they try to modify or get out of their debt. It's one thing if you're being stopped from going broke, its another to just bilk the bad times, which is what too many are doing.

This comes from someone who makes damn good money, has a beautiful house that, yes, has lost alot of value... but i still pay my damn mortgage on it and investment properties, and will live through this without going broke or ruining my credit, because while I played, and I invested, I didn't over extend my damn self.

As for some of your" she earned it" mentality. Being abot to take a mortgage doent mean you earned shit! If it's paid off, cash, lock stock and barrell you earned it! If you have mortgages you didn't earn a damn thing.

angeleyes said...

1:53, the bulk of the conversation here basically centers on Jeana and those like her, who created her own loan modification need by spending like a crack whore with a stolen credit card despite clear indications that she couldn't afford to. Cases have to be considered on an individual basis. At the very least, prior 'responsible' financial management or lack thereof, is the dividing line (or should be) in determining who qualifies and who dosen't.

angeleyes said...

And the upset is best understood in the context that for every Jeana with several roofs over her head who gets a modification, the very real potential exists that someone with only 1 roof over their head won't.

Anonymous said...

For the record. I watch RHOOC and of the bunch, Jeana is by far the least loathsome. I have no ill will toward her nor any desire to knock her down.

My issue isn't that someone in Jeana's income bracket (or one time income bracket) gets a loan modification, but rather that someone with her assets does. Because the truth is, she does not need one.

Jeana could sell her house (even if she had to sell it for less than she wants like so many other people are having to do) and have plenty to pay off the $1.3M mortgage she can no longer afford and have plenty to live on until such time the market turns and she's able to make money selling houses again.

In the meantime she can live in one of the three other less lavish properties she owns that I hope have much smaller mortgages on them. This woman is hardly without financial options that should be required of her before getting a loan modification.

Does that not make sense?

I know this Pimp person likes to think that anyone who does not agree with him/her is a Walmart employee or some other type of low wage worker, but he/she is plain wrong about that.

We've also lost a bundle like everyone else with 401ks and SEPs and stock portfolios. Our house has lost a ton of value too. It sucks. I'm also someone who lives in a modest but nice house in an upscale area (that we can afford), drive nice cars (that we can afford) and we both have advanced degrees. We've earned what we have working almost entirely for ourselves and having our own businesses. One of my businesses failed about 4 years ago, but we we tightened the belt until we were solid again. Although we are not millionaires we're still "self-made" are we not Pimp?

Please stop insulting and trying to degrade people who do not agree with your point of view. Your shrill and nearly inarticulate ramblings and name calling do nothing to support your case. And furthermore it speaks volumes about your character that think people who work low-paying service jobs are losers who are all bitter and jealous of wealthier people. Actually it says everything about you that anyone would ever need to know.

angeleyes said...

3:36, for what it's worth, I agree with you. Under the Bush administration, those who needed breaks the least benefitted most, and the entire country is paying the price for it now as a result. Jeana, whose only concrete need for a modification is to maintain her extravagant lifestyle without selling off any of her properties, is a clear indication that given the opportunity, those who need it least will do the same thing again if allowed to. The Loan Modification Program wasn't intended for people like her, and will only give congressional Republicans more ammunition to shoot Obama's progams down, to the detriment of those who really do need them.

Anonymous said...

I have never heard from a more pathetic group. all this "ranting" about people like Jeana taking advantage of the govt and the wealthy republicans twisting the system, its all hogwash, fine,. go put jimmy carter back into office. you need a clinton type who knows how to manage, this pathetic group posting on here sounds like a bunch of pollyannas. go live somewhere where jimmy carter can be your president and hero. its not here , and that is not how the world works. you need people like clinton, stop being such ingnoramises

Anonymous said...

I like the Baldwin house. I changed the wall paper behind the stove though. Maybe put up that tin stuff you buy at home depot.

Anonymous said...

6:24, no one asked you, and if you were really smart, you'd have more to articulate than a childish whining rant of your own about what a bunch of "pathetic ingnoramises" should have done. I've contributed substantial amounts of both time and money toward getting competent, trustworthy elected officials representing us, and would bet my last dollar you haven't done squat, so buzz off.

Anonymous said...

So Grandview is a real town like on Ghost Whisperer? I live 15 min from Rockland and have never heard of this town, or even see it on google maps.

Anonymous said...

anonymous 6:24 you "do gooders" righteous types are the worst. I call them the jimmmy swaggart swindlers, alwaays going around blabbling about your "good deeds" and then the min you get even a hint of power, it goes to your head, absolutely teh worst type, the limo liberals who basically really just want to control the masses, the barbara streisands who spout all their shit about helping the comman man ...oh but just dont touch me or take pictures of my house......take your phoney policticans pack them up and go to jimmy carter land, you types are the biggest hypocrites

:{} avg joe said...

AVERAGE JOE HERE

LEO DECAPRIO SOLD HIS MALIBU HOUSE

FOR HIS ASKING PRICE !!!!!

UNBELIEVEABLE
!!!!!!!!!

:)

:{} avg joe said...

IT JUST CAME IN FROM PEREZ HILTON SITE

:)

Anonymous said...

once again, you are an idiot avg joe

perez site clearly states the property is sold

and the price isn't disclosed yet

he did NOT get asking price

why dont u blow ur head off already

Anonymous said...

I own a condo and have an outstanding balance of $140k, consisting of $104k primary and $36k secondary. I took the home equity to consolidate debts. At the time the property was valued at $163k but now it is valued at $134k. I'm looking to sell because i am engaged and will be moving into my fiancee's home. Check http://obamamortgage2009.blogspot.com/2009/03/obamas-mortgage-modification-do-you.html If I have a buyer who offers me within say $5-7k of the outstanding, can i agree to assume a loan on the residual and pay the bank the difference over time with interest? The same bank holds both mortgages.

Anonymous said...

geez the blowhards no fun at all NEXT POST PLEASE MAMA--

charles said...

Mr. President why are the banking,and loan company not making loans as you promised they would do for the american people we are all hurting and not getting any help. Time for them to answer to you for not helping us the little people that keep them in business, maybe we should boycott their business. Check http://obamamortgage2009.blogspot.com/2009/03/obamas-mortgage-modification-do-you.html#comments

Anonymous said...

DAyum. I go away for a few days and come back to the Average Idiot foolin' all of you with a new nickname. He sure got that flame going.

But to what end? He gets off on it so all he ended up with was sticky pants.

And the rest of you raised your blood pressure.

commercial real estate said...

the house is huge and looks good...

Richardsonynfh said...

Oh, and "Perry?" Jeana has been legally separated since before the bubble. Divorce happens? When was Matt's head injury? DWI? It predates the Housewives series (IE, more than 4 or 5 years ago). Uh, remember when JO lived in Coto de Cazo?? Yeah. That's when Jeanna's marriage PUBLICALLY fell apart, but to listen to her on tv, that's rhe easiest date. She said, "We own four properties and I told Matt to choose one." She knew THEN she was upside down. Don't play the "divorce happens" bullshit. Jeana's kids have been on Bravo, for at least four years, talking about heir parents separation and Matt's hospitalization and DWI. This didn't materialize ou of thin air and cause her the conundrum she is currently in. Please...even Bravo doesn't try to manufacture the BS you are spewing. Jeana tried (and failed) to secure $300-$500,000 for the upcoming season. When they laughed (as a second rate cable network and a show based on a neighbor filming across the closed gate of Coto, as the show started out....and less than 10k a family....well, Jeana was as delusional as she showed herself on camera. She coldly helped with a short sale (and not enough commission) and as the long time owners sobbed, while signing the papers, Jeana robotically old the audience that it was a sign of the times. When Jeana is homeless....stellar realtor that she is, and as she takes down her rentors....I will bask in her humiliation.

obama loan modification said...
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