Wastin’ away again in Foreclosureville

From the Record:

NJ, the foreclosure state

The rate of new foreclosures fell in New Jersey in the second quarter but was still the highest in the nation, followed by Maryland and Florida, a new Mortgage Bankers Association report said.

Loans in New Jersey on which foreclosures were started in the April-June period amounted to 0.9 percent of total outstanding loans in the state, down from 1.06 percent during the first quarter.

Meanwhile, New Jersey loans in any stage of the foreclosure process remained at the high level of 8.10 percent of total loans as of June 30, barely changed from the first quarter. That also was the highest percentage in the country, and more than three times the national rate of 2.49 percent. Florida had the second-highest rate and New York was third.

Reasons for New Jersey’s high levels of foreclosures include its comparatively sluggish recovery from the recession, the winding down of assistance programs that kept foreclosures at bay, and a slow judicial process, according to industry observers.

Elevated unemployment rates, particularly in New Jersey’s larger cities, and a recent decline in government funding for programs that have helped people avoid foreclosure, have resulted in many more homeowners falling behind this year on loan payments, said Phyllis Salowe-Kaye, executive director of New Jersey Citizen Action, which provides counseling for cash-strapped homeowners. In addition, some homeowners who have had their loans modified at lower interest rates have still been unable to keep up and are back in default, she said.

“Put it all together and the statistics are not shocking to me,” Salowe-Kaye said.

Like New Jersey, the states that have the second- and third-highest rates of loans in foreclosure, Florida and New York, handle lenders’ foreclosure filings in state courts instead of administrative processes, and the judicial foreclosure processes tend to take longer, sometimes years. Only two of the 15 states with the highest percentages of loans in foreclosure, Nevada and Rhode Island, handle foreclosures administratively. The states with the lowest loans-in-foreclosure percentages were Wyoming, North Dakota and Nebraska, respectively. Of these, only North Dakota is a judicial foreclosure state.

“New York and New Jersey have the longest judicial time frames in the country,” said Robert E. Kafafian, chief executive officer of The Kafafian Group, a bank consultant in Parsippany.

RealtyTrac, a California company that tracks the foreclosure market, reported earlier this year that New Jersey’s foreclosure process takes an average of about 1,100 days, or more than three years. A state moratorium on foreclosures, in response to lender abuses, stalled the process and created a backlog of cases in 2010 and 2011.

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128 Responses to Wastin’ away again in Foreclosureville

  1. grim says:

    particularly in New Jersey’s larger cities

    Certainly a very politically correct way to put it…

  2. grim says:

    Well gee, not at all what we expected, I thought that millennials only used zipcar, lyft, and mass transit, and refused to own a car, let alone a new one… From CNN Money:

    Youngest car shoppers are buying more cars

    It turns out, so-called millennials are responsible for a bigger percentage of new car purchases than older Gen X slackers.

    Millennials born between 1977 and 1994, also known as Generation Y, bought 26% of new vehicles sold so far this year, according to a new report by J.D. Power and Associates. Meanwhile, Gen X shoppers, born between 1965 and 1976, accounted for only 24% of sales.

    The gap between generations X and Y should grow, too, as Gen Y buyers are expected to pick up the car buying pace through second half of the year, according to J.D. Power. The two younger generations have different tastes with Gen Y buyers favoring compact cars like the Ford (F) Focus while Gen Xers buy more small SUVs such as General Motors (GM)’ Buick Encore.

  3. anon (the good one) says:

    W massive clusterfokc never ends

    @ianbremmer: US back at war in Iraq.

    @ianbremmer: Don’t need a vote in Congress to avert a genocide. Late, but the right policy. Good for Obama.

  4. Comrade Nom Deplume, Guardian of the Realm says:

    [3[ anon

    The rarest of moments, I sort of agree with anon. Lifespan measured in milliseconds but there is a partial confluence of Venn circles.

    I still think he is batshiite crazy. But this singular event must be acknowledged.

  5. Libturd rotting on NJT says:

    On Fridays I train into NYC to avoid jams driving home. Decided to get up way early to avoid train delays. Well that was a supreme waste of my sleep. Will be lucky to have done the 12 miles in under an hour.

  6. Libturd rotting on NJT says:

    W goes to war with backing of most Dems including dream candidate Hilary and it’s a clusterfcuk. O goes to war with no backing and he’s a saint.

    Baa. Baa.

  7. Grim says:

    O’s recent decisions to unilaterally use executive orders and bypass congress on a number of issues puts him dangerously close to dictatorship.

    It’s clear he has no ability to lead, so much for hiring a rookie. Hillary is welcome at this point. I may not like what she does, but god knows she can at least get something done.

  8. Libturd rotting on MTA says:

    Finally into Penn Sauna and the E is taking forever to arrive. I know how to fix it though. Take the more of the fare that could be used to increase service and use it to pay more benefits. I know why millennials are buying cars. Because trying to utilize mass transit makes one feel solidarity with the third world.

    Though, I never experienced these issues when travelling by rail in Europe on much older systems. I suppose they don’t have Amtrak to blame it on.

  9. There is nothing in Iraq that we can’t make worse.

  10. Let those stupid cavemen kill each other. They are beyond hope.

  11. grim says:

    Sochi looked like that during the Olympics. Where are all the dogs? I expected more stray dogs.

    IOC – Coming to visit a US city? Don’t bother, we don’t want it.

  12. anon (the good one) says:

    as a taxpayer, after a decade of war in Iraq with millions of Iraqis killed, their country completed destroyed, hundreds of thousands of American lives lost, trillions of taxpayer money filling the pockets of W and Cheney friends, and to this day no end in sight,
    my real concern is why are we subsidizing Obamaphones

  13. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [6] libturd,

    I was going to follow on with that but you made it more eloquently than I had planned.

    [10] clot

    That was one of the reasons I was against going back into Iraq. No altruism on my part.

  14. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [12] grim

    “Where are all the dogs? I expected more stray dogs.”

    Whaddya think they did for meat? Can’t kill the goats, that would be like killing your wife.

  15. grim says:

    hundreds of thousands of American lives lost

    I’m not at all trying to discount the sacrifice made by American soldiers in Iraq and Afghanistan, but your number isn’t accurate.

  16. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [13] anon,

    Now you are trying to think. Don’t, you’re a spectacular failure at it. Stick to tweeting.

  17. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [16] grim,

    Not to be snarky here, but you are just noticing now that anon has the accuracy of a North Korean rocket?

  18. grim says:

    Hundreds of thousands? Are are you blaming the Civil War and World War II on Bush and Cheney too?

    I believe the total number for the Iraq and Afghanistan wars is about 7,000, again not trying to discount their sacrifice, only pointing out a gross inaccuracy (although it is starting to seem that much of your opinion is based on gross inaccuracy).

    The comment about a million Iraqi deaths is also wildly incorrect, but I’m not surprised.

  19. Libturd in the City says:

    And I’m finally at my desk. Call it 80 minutes door to door. Which is worse than my worst day driving counting commuting into AND out of the city. Man is it going to suck once the 1%ers return to work in the fall.

  20. Comrade Nom Deplume, a.k.a. Captain Justice says:

    Saw some posts that I should have responded to but it was late:

    Joyce, there are T-shirts available.

    Fabian: Taxes? On what, UBTI? I suppose it’s possible that nonprofits pay taxes but I am not certain you can shift deductions on excludible activities to includible ones. And I’d love to see some guidance that permits an entity to take a deduction on an expense it didn’t incur. IRS just shut down a similar deduction under Section 901. I don’t try to code because I don’t know what I am doing. You should leave off taxes for the same reason.

  21. Libturd in the City says:

    Anone,

    Here is an example of your tweeting from the other side.

    The disastrous rollout of [Obama’s} health care law not only threatens the rest of his agenda but also raises questions about his competence in the same way that the Bush administration’s botched response to Hurricane Katrina undermined any semblance of Republican efficiency.

    It sure sounds plausible to the pea-brained.

    Baa. Baa. Obamaphones. Baa.

  22. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [20] libturd,

    80 min. Suckage.

    About 10 years ago, I interviewed for a asst counsel position with a federal bank regulator in their JC regional office. The regional counsel asked me how long it would take to get there from Philadelphia. I told him, door to door, about 90 min.

    He snorted and replied “it takes me longer than that.” He was coming from Garden City, LI.

    Sometimes it amazes me why otherwise tough, smart people would put up with the high cost and ridiculous commutes. Planet Manhattan must be a special place in ways that just elude we common folk.

  23. Libturd in the City says:

    I just had an epiphany. Why don’t we balance the playing field in regards to income inequality by charging religious not-for profits sales tax and property tax? Maybe even levy a special fine on men of the cloth who are child touchers. Easy peazy.

  24. Juice Box says:

    I am just leaving now….fcuk going into work early.

  25. painhrtz - whatever says:

    Nom 15 damn you beat me to it

    Grim not to be snarky here but dangerously close to a dictatorship. disregard, the law of the land, make orders by executive fiat, opulent vacations for his family on the countries dime, blame the rich, blame your predecessors, prop up failing national businesses, blame international corporations, drive business out of the country, and increase the welfare state. Are we not already some farcical South American Banana Republic? The only thing missing is Gerneralismo O to start wearing a fancy uniform with unearned medals adorning it.

  26. jj says:

    I have worked with folk our in hunterdoom and poconos on wall st.

    Commute is not a big thing. Just 20 years ago we had no smartphones, no wireless, no iphones, so train ride was total dead time. Other than drinking some tall boys or taking a nap it was dead.

    I have one of shortest commutes at work and on average door to door takes me between 70-90 minutes each way every day.

    Moving to Manhattan would cost me a fortune and jobs near my house are like a 100-200K pay cut.

    Libturd in the City says:

    August 8, 2014 at 8:25 am

    And I’m finally at my desk. Call it 80 minutes door to door. Which is worse than my worst day driving counting commuting into AND out of the city. Man is it going to suck once the 1%ers return to work in the fall.

  27. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [27] JJ

    If you weren’t so manly and impervious to little aggravations, I am sure that your firm would helicopter you in each day. It is good of you to let them use that money for dial cars for prissy executives.

  28. Michael says:

    Exactly why I call bs on that trend of living in walking distance of everything. It was only a trend that reflected the bad economy. The only people that live within walking distance to everything with no car are people trapped in ghettos in urban centers. True story. The projects have fit this trend for decades.

    I’m 34. Every single person I know that lived in a city in their 20’s have settled down and moved to the suburbs after starting a family. My wife lived in Boston for most of her 20’s and is now in wayne. Hell, even Eli manning did it. He was in Hoboken and has since moved to mahwah after starting a family. He is around my age.

    grim says:
    August 8, 2014 at 6:12 am
    Well gee, not at all what we expected, I thought that millennials only used zipcar, lyft, and mass transit, and refused to own a car, let alone a new one… From CNN Money:

    Youngest car shoppers are buying more cars

    It turns out, so-called millennials are responsible for a bigger percentage of new car purchases than older Gen X slackers.

    Millennials born between 1977 and 1994, also known as Generation Y, bought 26% of new vehicles sold so far this year, according to a new report by J.D. Power and Associates. Meanwhile, Gen X shoppers, born between 1965 and 1976, accounted for only 24% of sales.

    The gap between generations X and Y should grow, too, as Gen Y buyers are expected to pick up the car buying pace through second half of the year, according to J.D. Power. The two younger generations have different tastes with Gen Y buyers favoring compact cars like the Ford (F) Focus while Gen Xers buy more small SUVs such as General Motors (GM)’ Buick Encore.

  29. Libturd in the City says:

    I would put up with it if it saved me some dough. Sadly, even with $20 a day parking, it’s still cheaper and quicker to drive if Gator comes along and I save her $5 MTA fare. If we went all in driving (giving up her monthly rail pass and parking space at the train station), it would actually be a huge cost saver.

    You would think with the 810,000 NJT rail boardings at NY Penn Station per week, they would figure out a way to make things more efficient. Heck..better to blame it on Amtrak who does a whopping 61,500 per week. For comparison’s sake, LIRR does almost 1.2 million. But it’s Amtrak’s fault and not NJ Transits bloated payroll.

    It always bothers the krap out of me that all commercial non-passenger rail (freight) is privatized and runs with massive profits without subsidies, yet public sector rail is a huge subsidized loser. Amtrak still loses one billion per year. If the freight operators have to build a new bridge or tunnel. They pay for it without government help. And over 70% of the tracks that Amtrak uses are owned and maintained by freight operators. Once could try not to blame it on bloated payrolls here, or competition with cars and planes, but in Europe, passenger rail is profitable. Hmmmmm.

  30. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [26] pain,

    This is the first president in modern history that has made it apparently clear that he governs only for his side and against the other side. Heck, he even openly referred to political opponents as “enemies”.

    And lest you think that was a slip, he also referred to his extraordinarily brief time in the private sector as being “like a spy behind enemy lines.”

  31. Libturd in the City says:

    Walkable cities is a joke. Montlclair loves to tout its walkability. Yet I don’t know a single family that doesn’t own at least one car per driving adult. Montclair has 6 NJTransit rail stations and virtually it’s own (sh1tty) bus line (Decamp) into Manhattan yet more than half of the permits at the train stations are sold to Montclair residents. But it sure sounds nice to the progressives.

    For what it’s worth, I walked to the train from 93 to 2011 minus the LA years. Sometimes it was a haul, such as when I lived in Lincoln Park and Jersey City. Of course, back then, the trains ran much more efficiently. I remember when NJ Transit won awards for on-time performance. One year they ran with 99.7% on time proficiency.

  32. We just opened a new front in our perpetual war. Dropping laser-guided bombs on the armed cavemen.

  33. stu, the purpose of mass transit is:

    1. jobs program for the connected
    2. implement for grinding the average commuter into powder

    The question isn’t “why is NJ Transit so bad?”. The question is, “what if NJ Transit only exists as an implement of corruption whose purpose is actually to prevent efficient commuting?”.

  34. NJT says:

    #29

    I live in Belvidere, NJ. It’s only a few blocks of walking to ANYTHING. Wife and kids love it. Work mostly at home but when I have to go into the office it’s only a 15 minute NO TRAFFIC ride over the FREE bridge to PA.

  35. Essex says:

    Vote Ditka in 2016

  36. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [37] SX,

    As a lifelong Patriots fan, I could never vote for Ditka.

    Even though I personally like the guy.

  37. Comrade Nom Deplume, a.k.a. Captain Justice says:

    I love the quote from the USPS at the end.

    http://www.cnn.com/video/data/2.0/video/us/2014/08/08/pkg-postal-worker-delivers-mail-to-dumpster.wcpo.html

    If it were me, I would add “Again.” at the very end.

  38. Libturd in the City says:

    E – Bowler,

    There was this nut job old train engineer who owned the Glen Ridge Benson Street warming hut (old station house) and had converted it into a dilapidated train museum for a while. When the Montclair Connection (perfect name for your connected theory btw) opened, NJ transit gave the old Boonton Line tracks (actually I think they were shared) back to Conrail from just north of Bay Street all the way to Hoboken. Well, the nut job offered to run a dinky service (two train set) between Glen Ridge and Hoboken without any subsidy. He already owned the trains. Of course, he was outright rejected by NJ Transit/Conrail. Hence the end of the good commute times to Hoboken.

    I swear, I used to get to Hoboken (albeit it was an express train) from Walnut Street in Montclair in fifteen minutes. Once they closed the old Boonton line, it can’t be done in under thirty minutes. Let’s hear it for efficiency. Worst of all, when there is something wrong with the M&E line, the Montclair/Boonton line must suffer along with them. Nothing like closing up alternative routes to result in the greater likelihood of single points of failure as well as less efficiency. Only when the government runs it can this happen. I wonder how many overpaid transportation engineers worked on the report that created this ill-fated decision?

  39. painhrtz - whatever says:

    Nom don’t disagree with any of it. He was bad the first four but man this is just accelerating. While I think that Romney would have been a hack, at least he would have made an effort to reach across the aisle and we could have had the 4th estate holding his feet to the fire giving the perception that there was some accountability while we were being fleeced.

  40. Libturd in the City says:

    “I live in Belvidere, NJ”

    Does everyone have a crazy dog there?

  41. painhrtz - whatever says:

    Lib I had the opportunity to take a well paying position on the west side that I turned down a few weeks ago. It would have effectively recouped 75% of what my wife made while she was working even accounting for costs associated with going to Manhattan.

    Could not bring my self to take it with the noted reliability of NJT, and I can’t stand driving into the city. Plus i would like some quality of life money is not everything.

  42. Libturd in the City says:

    Nom,

    That postal carrier is another of Anone’s hero. Apparently that reporter asked Pelosi and Reid what they thought of that video and they both responded in similar. Both leaders were visibly disappointed that the mail carrier dumped the mail in a dumpster and not in a recycling bin.

  43. anon (the good one) says:

    another crook just like W

    @BillMoyersHQ: 40 years ago today–Richard Nixon: Honk If You Think He Was Guilty, by @MichaelWinship http://t.co/TlNznv0Bqv

  44. Libturd in the City says:

    Smart decision Pain.

    “Plus i would like some quality of life money is not everything.”

    I think I shared this story once before, but what the heck?

    When I first joined my current place of employ, I put in the 60-80 hour weeks. In return for my effort and performance, I was told I was being groomed for executive consideration. I spoke with a few of the executives at my company at the time and asked them how was life among the highly compensated. There was this one executive we obtained from a takeover of a company outside of Boston, who I liked to chit chat with. He had recently purchased a yacht and was very proud of it, showing everyone pictures like it was his first grand child. I met up with him about a year later and asked how he enjoyed sailing and he explained to me that the boat had touched the water only once. I followed up with him again the following year and he still hadn’t used it again. I then asked him if it was worth it as I was being considered for a higher level opportunity. He unequivocally said absolutely not. The same opinion was mirrored by others whom I spoke with. Hence, I’m very happy to work a semi-normal week as a mid-level manager. Plus, I manage two different three shift operations which provides me great flexibility when choosing the hours which I work. Technically, I could work anytime I want, but the workload still requires me to work a minimum of 40ish hours. But it sure is nice to finish up work after dinner in the living room while watching Gumball with the kids.

  45. Libturd in the City says:

    NJT, you are under 30…right?

  46. NJT says:

    #48

    Um, no.

  47. Libturd in the City says:

    No biggie.

  48. Michael says:

    Only a few blocks of walking to anything? I never even heard of it. I think the trend that I’m talking about is definitely not what you are talking about.

    NJT says:
    August 8, 2014 at 9:17 am
    #29

    I live in Belvidere, NJ. It’s only a few blocks of walking to ANYTHING. Wife and kids love it. Work mostly at home but when I have to go into the office it’s only a 15 minute NO TRAFFIC ride over the FREE bridge to PA.

  49. Michael says:

    I agree. People are saying the market is going to contract based on one thing, the bull market has lasted longer than 5 years. Not even close to a good reason for me. Nothing in the data or figures says that we are heading for a big contraction. That’s what I care about.

    ““Bull markets don’t end because of age. They don’t end because of exogenous political events. They end in anticipation of a recession.”

    Despite the age of this bull the earnings data and economic figures just don’t portend contraction in Smith’s mind. If Smith is correct then anytime starting about now would be a good point at which to start putting extra cash to work in stocks.”

    http://finance.yahoo.com/news/-bull-markets-don-t-die-of-old-age—time-to-start-buying-192326664.html

  50. Juice Box says:

    re # 53 – Michael as far as the market all there is is underperformance or out-performance. You cannot have one without the other, it is only a matter of time.

  51. Michael says:

    53- Some comments from that article. Agree with the second guy.

    “Employment participation is at its lowest since the 70’s which if counted correctly would boost unemployment well over 10 percent. Stocks are over bought. Inflation is rampant because of fuel prices, the government printing money and welfare increases at all levels. A free economy bull market doesn’t just die on it’s own, but the left surely has killed it.

    Truth Seeker
    You must be drunk. Since 09 a whole lot of people made a whole lot of money. So, no complaints from them. You must’ve been in the losing crowd. And, the points you made about inflation and fuel prices are constants, not variables. So, moot point.

    Oh, by the way the federal reserve prints money, not the congress or president. So, lay off the liquor, because it’s making you dumb. Or maybe you were already dumb to facts.”

  52. Xolepa says:

    Ahh, Belvidere. Know it well. Especially the Landlord/Tenancy court. Drive on Brass Castle road to get there. Judges are not sympathetic to the tenant cause. HeHe. File eviction papers and court date is 3 weeks away. After that, 10 days and you’re out. Find that in North/East NJ.

  53. Xolepa says:

    You can by multi-families, near decent shape, in Belvidere for $70k. Lucky Eddie, you’re searching in the wrong place.

  54. Michael says:

    Holy shi!!! Is this place like Paterson? If not, you just put a smile on my face. Why so cheap?

    Xolepa says:
    August 8, 2014 at 11:13 am
    You can by multi-families, near decent shape, in Belvidere for $70k. Lucky Eddie, you’re searching in the wrong place.

  55. Ragnar says:

    Libturd, that trend you are talking about is the sound of people in San Francisco breathing in the aroma of their farts. They think they will teach the rest of the country to be car – sharing wine drinkers.

  56. Libturd in the City says:

    “Why so cheap?”

    It probably has to do with the fact that you are near the major urban centers of Lopatcong and Harmony.

    https://www.google.com/maps/place/Belvidere,+NJ/@40.8239541,-74.9896304,31806m/data=!3m1!1e3!4m2!3m1!1s0x89c378ab49d5f34f:0x7528d4f998ebe924

  57. Libturd in the City says:

    Rags…I thought about doing some Ubering in my 95 Civic Hatchback. It might be worth it simply to read the social media reviews of the experience of the riders. I still have the forward-firing dual sealed 15-inch woofers being driven by 500 watts per channel ghetto blaster that I could put in the hatch if someone requests some music to relax to.

  58. Juice Box says:

    re # 62 – Don’t bother even trying to use an old or ugly or 2 door car with Uber. They only accept late model 4 doors. I know I tried :)

  59. Libturd in the City says:

    Damnit!

  60. Libturd in the City says:

    Will have to start my own service then. I’ll call it Stuber.

  61. Best thing about Belvidere is that Hot Dog Johnny’s is on the way there.

  62. Libturd in the City says:

    An upscale Mexican place just opened in Montclair. Some would call that an oxymoron (also my nickname for Rush Limbaugh). $18 – $27 for entrees. I think I’ll stick with El Matador down in Bloomfield.

  63. Libturd in the City says:

    Clot…do you know about this hot dog guy?

    http://www.riverhotdogman.com/

  64. anon (the good one) says:

    @AP: 8-year-old boy in critical condition after being shot in the face by 7-year-old cousin, police in Texas say: http://t.co/FE2pEm6xfa

  65. painhrtz - whatever says:

    Nom not that you haven’t covered all of this before and sure reason isn’t really MSM but the first ripples of expatriation are starting to be noticed

    http://reason.com/blog/2014/08/08/whats-an

  66. Xolepa says:

    I don’t know why Johny’s is somethat to crow about. His hot dogs are small and taste like they are 95% filler. Maybe it’s the motorcycle gang aura about the place. And if you stop, don’t forget about the number one wash down there – buttermilk.

    p.s. Belvidere housing. Part of Warren County, Section 8 Capital of NJ

    believe me, its the white trash towns along the Delaware in NJ and NY that have the highest proportion of welfare/Sec 8 participants. Port Jervis is the big one in NY. Who the hell takes the 2 1/2 hour train direct to Manhattan from that stop?

  67. Essex says:

    It may seem like a drop in the bucket, especially when droves want to immigrate to America. Still, the newly published names of individuals who renounced their U.S. citizenship or terminated long-term U.S. residency is up, with 576 for the quarter and 1,577 so far this year. The growing trend is a sad one, with record numbers of Americans renouncing their U.S. citizenship.

    For all the immigrant arrivals, the trickle the other direction is becoming more pronounced. The tally was 2,999 for all of 2013, a 221% increase over the 932 who left in 2012. The Treasury Department is required to publish a quarterly list, a kind of public outing putting Americans on notice of who relinquished their rights. Consular expatriations, where people don’t file exit tax forms with the IRS, are apparently not counted.

  68. stu (68)-

    I am a frequent patron of that hot dog stand. Kids and I used to tube that section of the Delaware a couple of times every summer. Quality dogs, and you can’t beat the convenience.

  69. Can’t believe xolepa throwing shade on Johnny’s. Nothing better than an ice cold mug of buttermilk on a day like today.

  70. NJT says:

    #57

    “Judges are not sympathetic to the tenant cause. HeHe. File eviction papers and court date is 3 weeks away. After that, 10 days and you’re out. “.

    I know, it’s amazing. Only had to go through it once. The other times the tenants left before I filed (because they knew).

  71. Section 8 = guaranteed check every 30 days

  72. You can also do Oklahoma evictions in Warren Co.

  73. Libturd in the City says:

    I didn’t know you could drink buttermilk. Wouldn’t it be a bit sour?

    Plus to me, milk and hot dogs sounds almost as appealing as ketchup on salami.

  74. Michael says:

    I wish I could just give up my citizenship to avoid paying taxes. Must be nice.

    Time to play hardball with these Scrooges. You give up your citizenship, then you are never allowed to conduct business with America or allowed to step foot on u.s. soil again. It’s impossible to be at the wealth level of these individuals giving up their citizenship if you don’t have the American consumer. Bastards just don’t know how to play hardball. Wait, I forgot, the politicians are only acting like they are upset, they got paid to let them do this. Nothing more than a game of good cop/bad cop on this issue. They are not really trying to stop them.

    painhrtz – whatever says:
    August 8, 2014 at 1:14 pm
    Nom not that you haven’t covered all of this before and sure reason isn’t really MSM but the first ripples of expatriation are starting to be noticed

    http://reason.com/blog/2014/08/08/whats-an

  75. Fabius Maximus says:

    #21 Eddie Ray

    So I can’t pay my Caymens subsidiary $9K for the use of their MRI that they license back to me and as the patient can only pay $2K I’m not left with a $7K loss?

  76. Fabius Maximus says:

    http://blog.constitutioncenter.org/2014/08/president-obamas-use-of-executive-orders-in-historical-terms/

    President Roosevelt issued the most executive orders, according to records at the National Archives. He issued 3,728 orders between 1933 and 1945, as the country dealt with the Great Depression and World War II.

    President Truman issued a robust 896 executive orders over almost eight years in office.

    President Obama has issued 184 orders so far in his presidency. His predecessor, President George W. Bush, issued 291 orders over eight years, while President Bill Clinton had 364 executive orders during his two terms in office.

  77. Libturd in the City says:

    This is interesting:

    NJ Transit OPERATING BUDGET & CAPITAL PROGRAM
    FY13 Actual Operating Revenue and Expenses System-wide
    Total System Generated Revenue ……………………………………..$1,022
    Total Expenses …………………………………………………………………$2,029
    Revenue Recovery Ratio ………………………………………………….. 50.4%
    Based on all system generated revenues and total costs including all administrative costs.

    —————————————————————————————————–

    NJ Transit FY14 Board Approved Operating Budget (in millions)
    Resources ………………………………………………………………………. $1,941
    ————————————————————————————–
    Passenger Fares ……………………………………………………………….$921
    Other Revenue ………………………………………………………………….$113
    State Operating Assistance…………………………………………………..$73
    Capital Transfer–Operating/Maintenance ……………………………..$397
    Other State/Federal Reimbursements…………………………………..$437
    ——————————————————————————————
    Expenses………………………………………………………………………….$1,941
    Labor & Fringes……………………………………………………………..$1,120
    Fuel, Power & Materials …………………………………………………….$315
    Purchased Transportation ………………………………………………….$224
    Other* ……………………………………………………………………………..$282
    * Other expenses include claims, insurance, tolls, trackage fees, services, utilities, leases, etc.

    Isn’t this incredible. Ticket revenue on NJT doesn’t even pay the bill for labor and benefits. Hmmmmmmmmm?

  78. Libturd in the City says:

    If any private business ran the way government services do, everyone would be able to get paid double.

  79. Libturd in the City says:

    @Libturd: Dropping bombs on towel heads appears to be good for the stock market. Rock on Obama. #ILIKEHUMMUSMORETHANHAMAS

  80. NJT says:

    #76

    “Section 8 = guaranteed check every 30 days”

    Did it once, never again.

  81. Section 8 rocks. Best tenants are the ones that have gotten housing counseling and an entry into the program from some charity/non-profit group or another; those groups screen out a lot of the riff-raff, so that the tenants you get are just the working poor.

  82. stu (82)-

    Like I said, NJT is a jobs program for the connected.

  83. NJT says:

    #86

    I do have one tenant that has rent paid by a charity, non-profit group. Next time I have a vacancy I’m going to them for another.

  84. POS cape says:

    71 Xolepa:

    You explained something I was wondering about. I was in Port Jervis recently and there were some blocks where every single house was a rundown sh1thole. It was like maybe there’s a law in Port Jervis against having a nice looking place. Some of these places looked over 100 years old with the original asphalt shingles rotting off the sides. Now I understand. Buy a dump, put nothing into it, and rent it out as section 8.

  85. NJT says:

    #58

    “You can by multi-families, near decent shape, in Belvidere for $70k. Lucky Eddie, you’re searching in the wrong place.”

    Been inside of it. Extensive hurricane damage, foundation is shot, furnace doesn’t work (need a new one). The last tenants trashed the place and even stole the copper pipes! You’re basically paying for the lot (small) as the house at this point is a teardown. Is zoned commercial, though.

  86. homeboken says:

    71 – HUD does require physical inspections of all HUD owned, insured or subsidized housing. They call it the REAC score. It is based out of 100. Years ago I worked on a deal in Chicago that scored an 11. HUD still didn’t pull the funding on this deal.

    Then again, this property happened to be in the senate district of some guy that was trying to become president.

  87. Xolepa says:

    Clot, I had one Section 8er who came from a charity group. They didn’t tell me that she was schizo. She was so bad, that the judge ordered her to seek pysch counseling, took her kid away from her and whenever the kid did appear, a state paid nanny would be there reporting back to Gov and company.Seriously, after having evicted her several months ago, she stopped by just once to pick up some possessions and that was it. Her latest boyfriend, what I call the flavor of the day, kept calling asking me for his widescreen tv, washer/dryer yadeeyadee and I ignore him. He was not on the lease. As far as I know, he doesn’t exist. Maybe he murdered that woman and buried her somewhere. Sounds plausible.

  88. Essex says:

    Hummus hahaha

  89. painhrtz - whatever says:

    JJ any input to this video i think it fits in nicely with your philosophy

    http://chicago.barstoolsports.com/random-thoughts/guy-invents-the-hot-crazy-matrix-for-women-is-a-genius/

  90. homeboken says:

    Read the last line – It is seriously impossible to get kicked off the public teat:

    PASSAIC — The chairman of the Passaic Housing Authority has resigned following his arrest on drug and gun charges.

    City spokesman Keith Furlong tells The Record newspaper Darius Allen wrote he was unable to fulfill his duties under the “current circumstances.”

    The 44-year-old was arrested Tuesday night after police search his home as the result of a three-month investigation. Officers said they found 40 grams of cocaine, a handgun and drug-packaging materials.

    Allen has also been suspended with pay from his job with the Passaic Board of Education.

  91. painhrtz - whatever says:

    well at least he was suspended from his other double dipping job

  92. grim says:

    “with pay”

    Was there some question about whose cocaine and guns they were? Perhaps he was simply dealing in medicinal cocaine, nothing but a big misunderstanding. Besides, it’s for the kids.

  93. xolepa (92)-

    Well, duh…what charity is gonna tell a landlord their tenant is schizophrenic? :)

    You should have buzzed her a couple of times with a taser. Prolly would have done her some good.

  94. Whaddya wanna bet that Passaic teat-suckler isn’t the only one of them slinging drugs?

    That would explain “suspended with pay”.

  95. There was a time in my college days when 40 grams and a handgun = normal weekend.

  96. Anon E. Moose says:

    Rags [98];

    Better-looking than most female teachers charged with sleeping with the kiddies. It’s certainly a voilation of trust, but I wouldn’t think it a hanging offense. Goes to show you its easier to convict a teacher than to fire one.

  97. Juice Box says:

    Only a matter of time before someone came out with an app like this.

    SketchFactor is a crowdsourced navigation app that shows the relative sketchiness of an area.

    https://itunes.apple.com/us/app/sketchfactor/id883819818?ls=1&mt=8

    http://www.huffingtonpost.com/2014/08/08/sketchfactor-app-white-creators_n_5660205.html

  98. Anon E. Moose says:

    Juice [104];

    A friend had a similar idea about a year or two ago — that every GPS navigator should have an “avoid ghetto” option.

  99. Juice Box says:

    re # 106- Might as well have some fun with it. I am putting in my neighbors as a goof. I want to see the reaction of my wacky neighbors on that other site Next Door.

    https://nextdoor.com/

  100. NJT (the name has nothing to do with NJ Transit) says:

    Tenant sourcing is always a crapshoot. I should write a book about it. Would be a fun read.

    Got out of the landlord business (it was part-time) when they started giving mortgages to anyone and tenant quality sunk into the abyss. Luckily I sold the properties at near peak (2003-2005).

    Now, don’t even have to advertise a vacancy and can be choosy with the applicants.

    Soon as I’m done remodeling my new home (6 months – yeah, I know, it always takes longer than you think) I’m picking up another rental – one that I can WALK to.

    As Michael says, it’s a good business IF you’re handy (and can be an a-hole if required).

  101. Ben says:

    My landlord 6 years ago had to evict the girl above me. She was a stripper and dealing drugs. She got arrested dealing to an undercover but kept dealing out of the house. Weird people showing up at all hours of the night. She even stole her roommates laptop. Once he evicted her, I helped him clean up the place. There was ripped one dollar bills all over the place and joints that were put out on the ground. She left behind a safe that had the electronics ripped out. Girl had seriously no idea where she was for like 10 days. We figured there was more drugs in it so we didn’t try to bust it open. Instead, we put it out on the ground. In 2 hours, a couple of mexicans come by and take it. The best part was that the girl showed up completely sober 4 days later looking for her safe. I found out through someone else that there was 10 grand in cash in it.

    At that point, I decided never to get into the landlord business.

  102. Landlording is hard work. Slumlording is fun and profitable.

  103. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [80] fabian

    >sound of palm slapping forehead<

    Stick to writing code.

  104. Comrade Nom Deplume, a.k.a. Captain Justice says:

    Sign of the Times.

    I was at the P.O. today in prestigious Chadds Ford and noticed a new law office opening up in the same block, and above the Bryn Mawr Trust Company. Its stated focus was immigration law.

    Not a lot of illegals in Chadds Ford (maybe some in ChesCo but not in CF) which is a very haughty area (appearances notwithstanding) so I am thinking that the citizenship applications they are processing aren’t for the U.S.?

  105. NJT says:

    Ah, that reminds me:

    Walked into a bar across the street from a rental where the tenant just disappeared (Rockaway, NJ back in the 90s). Knew the owner (thought I did). He asks “Where’s X your tenant he owes me alot of money” ($300 bar tab). Told him the truth, I didn’t know but that he left EVERYTHING behind, including quite a stash of various illegal drugs.

    Owner/bartender asked “What did you do with them?”. Told him they’re probably in a landfill somewhere. Damn he said, I could have sold them and got way more than he owed me!

  106. Michael says:

    Minimum wage in the U.S. is a hot button issue. With fast-food workers striking around the country and President Obama calling upon congress to raise the Federal minimum wage to $10.10 per hour, it’s certainly something we will continue to hear about going into midterm elections.

    Business magnate and co-founder of Def Jam Recordings, Russell Simmons, founder of the RushCard (a card that helps those who “feel cut off from the economy because they have been turned away by the big banks”), agrees that something must be done to increase wages. “The gap between the rich and the poor is increasing… there’s a lot more we can do and there’s a lack of appreciation of what it means to trickle up instead of trickle down,” says Simmons. “We find that corporations are now putting their money in banks—they’re not reinvesting,” he points out.

    The rich enabling the poor doesn’t work, says Simmons. “Corporations save a lot more of their money than people who are struggling do. There’s a lot more money sitting in the accounts of successful individuals than those who are struggling.” If we want to put money back into the economy, says Simmons, the best way is to raise the minimum wage.

    There is evidence to support Simmons’ view. According to Labor Department data, the 13 states that raised the minimum wage this year – either automatically to keep pace with inflation or through legislation – are creating new jobs at a faster rate than other states. But there is conflicting research on raising the minimum wage as well. The Congressional Budget Office estimates that raising the federal minimum wage to $10.10 an hour, as President Obama has proposed, would end up costing the U.S. economy 500,000 jobs.

    Simmons believes more money in the pockets of lower-income Americans will benefit all and he is clear in his support for the concept of “trickle up economics,” but he also believes that for the American economy to continue to grow, the U.S. must reform its educational system. “Innovation is [America’s] next thing,” he says. “We have to educate our kids in problem solving; all the information that we’re learning in schools now… all of it is available in our Google eyeglasses, so it’s not about memorizing a bunch of stuff, it’s about problem solving.”

    http://finance.yahoo.com/news/russell-simmons–raise-the-minimum-wage-142146012.html

  107. NJT says:

    #58

    Owner/Landlord was an old single man with no wife or children living in Florida. Had a local woman pick up the rent and wire it to him. He died and the place went to hell (not that he was having it managed well before that). Offered to buy it 4 years ago (it was salvagable). Dude wouldn’t even talk about it.

    Slumlord livin’ out his last years partying on the beach…not that there’s anything wrong with that.

  108. Michael says:

    115- This is funny coming from a guy who exploits low income minorities. Maybe he is advocating for a higher min wage so that the people he exploits have more money to rob.

  109. Michael says:

    Def good business. Not easy, but def lucrative.

    As a landlord, I agree, these are great times to be doing it. Hope they last!

    NJT (the name has nothing to do with NJ Transit) says:
    August 8, 2014 at 5:55 pm
    Tenant sourcing is always a crapshoot. I should write a book about it. Would be a fun read.

    Got out of the landlord business (it was part-time) when they started giving mortgages to anyone and tenant quality sunk into the abyss. Luckily I sold the properties at near peak (2003-2005).

    Now, don’t even have to advertise a vacancy and can be choosy with the applicants.

    Soon as I’m done remodeling my new home (6 months – yeah, I know, it always takes longer than you think) I’m picking up another rental – one that I can WALK to.

    As Michael says, it’s a good business IF you’re handy (and can be an a-hole if required).

  110. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [115] michael

    “There is evidence to support Simmons’ view. According to Labor Department data, the 13 states that raised the minimum wage this year – either automatically to keep pace with inflation or through legislation – are creating new jobs at a faster rate than other states.”

    That’s a chicken and egg argument. Again, correlation does not equal causation. In fact, it is likely that the min. wage hikes actually benefit few people in those states since many LI workers already made the new minimum. For those that didn’t, they get raises but for those that did, there is wage compression.

    That said, I have felt that it is a state’s province to set min. wages, not the federal government’s. $10 per hour goes a lot further in Alabama than it does in Southern California. And since the min. wage is a form of tax, it is best left to those most affected by the tax as to whether they want it, and if there is collateral damage, it is limited to the state that voted for it.

  111. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [104] Juice,

    Only a matter of time before they get sued. BTW, look for guidance from HUD soon, warning realtors not to send clients to sites like sketchfactor.

  112. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [89] POS

    I was in Port Jervis briefly last year. Had an overnight stay in Matamoros and decided to look over the river. Yikes, what a shiitehole.

  113. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [106] moose

    Help your friend get around the patent on it.

    http://www.npr.org/2012/01/25/145337346/this-app-was-made-for-walking-but-is-it-racist

    Because MS holds a patent on it, and cannot actually distribute it without blowback, it will never see the light of day. In fact, I could foresee an absurd result where someone does create an app, and the left goes ballistic and tries to browbeat Microsoft into suing to enforce the patent.

  114. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [122] redux,

    Actually, it occurs to me that DoJ could do just that by charging an app developer under piracy statutes.

  115. Comrade Nom Deplume, a.k.a. Captain Justice says:

    anon, no tweet? You’re slipping.

    http://www.cnn.com/2014/08/08/politics/brady-death-homicide/index.html?hpt=hp_t2

    This is comically tragic but it is also precisely the sort of thing you argue in first year criminal law classes. VA has, or at least had, the old common law “year and a day” rule for causation–if you died over a year after the alleged crime, there was a presumption that causation was lacking.

  116. NJT says:

    Hot Dog Johnny (John Kovalsky). One of my grandfathers knew him well.

    Back in the early 80’s a buddy and I skipped school to go shad fishing in the Delaware (behind King Cole’s Grove). Stopped at Johnnys on the way back.

    Guy ratted me out and called my Grandfather!

    My grandfather did not tell my parents.

    “I skipped school once too…how did youz do?”.

    http://hotdogjohnny.com/shop/shipping.php

  117. I imagine shad tastes just the way dinosaur meat would. Get the roe, and throw away the rest of that trash fish.

  118. Libturd at home says:

    Only time I ever was in Port Jervis was when I accidentally fell into a coma like sleep after working 36 hours straight at my first professional gig. I fell asleep on a Main Line train on my way back to Clifton from the city at 1:30am and woke up when a conductor tapped me on the shoulder and told me I missed my stop (well over an hour earlier). He let me deadhead on the train until the return trip which started around 4am. He was nice enough to wake me up at the Clifton stop on the way back to the city. He also warned me not get off the train in Port Jervis. I was so tired, it was all like a bad dream, but it was real.

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