Day: January 6, 2008

Sir, I just read your piece on foreclosures. People who are about to get behind on their payments should contact their lender. Banks do not want the properties, they want the cash. Some lenders are willing to negotiate a modification of the loan terms rather than accept the expense of a foreclosure and resale (usually at a loss) of the property. Selling the house before the foreclosure process begins is better than waiting because the cost of the foreclosure will be added to the amount they have to repay the bank. If a person knows they’re going to get behind …

Jim: In my opinion Violas’s comments are balderdash! That’s my reaction to all the ranting over “restrictive covenants”. I wouldn’t buy a piece of property in any sort of subdivision that didn’t have such rules. Let me share the experience that convinced me: About five years ago, I bought a piece of investment property in a small, rural Wyoming subdivision. Lot sizes were 3 to 10 acres and covenants were attached. Those covenants were common sense in nature. hey boiled down to simply treating your neighbor as you would be treated. Problem was, the covenants weren’t enforced. “Nobody’s gonna tell …