Monday, March 30, 2009

Foreclosures : a great oppotunity, or ambulance chasing?

I've got a moral dilemma of a dialog going on in my head lately. It goes something like this:

Me: "There sure are a lot of folks being victims of foreclosure these days..."
Angel Me: "Yes, it's true. We sure should have these folks in our prayers."
Devil Me: "True... We should wish the best for them. Say, how's that real-estate hunt going?"
Me: "Wow... funny you should mention that. Not too bad. Could always be better."
AM: "That hard work will certainly pay off. I know you trust that everything will work out for the best."
DM: "I'm sure. So what happens to these homes that are foreclosed?"
Me: "Well, the owners can't afford them anymore so they lose them."
DM: "I hear they sell for way under market-value. You should snag one."
AM: "And profit off of the misfortune of others? Do you think he has no conscience?"
Me: "No, you're absolutely right. I couldn't do that."
AM: [proudly] "See?"
Me: "How much under value?"
DM: "I have a website so you can find out."
AM: "Wow -- A 2 bedroom? For that price? Well, if this isn't a sign of God's providence, I don't know what is."
Me: "Isn't this kinda... um, morally grey?"
DM: "Well, the bank is the bad guy here putting mom and little baby joey out on the street. The damage is already done."
AM: "It's true... You'd actually be helping out the economy."
DM: "If you don't, someone else will get it."
AM: "Do you really want Pumpkin to have to grow up in a 6'x5' bedroom, always wishing her daddy loved her enough to not store root vegetables under her makeshift bed?"
Me: "What on earth are you talking about?"
DM: "Yeah, I'm kinda lost on that one too..."

...I'd go on, but it just gets weird from there. You get the point. Morally grey or just pricing based on circumstance?

[link] Free Forclosure Searching

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