Home builders getting a Disaster Windfall from FEMA

[LexusLover]

Originally Posted by bamscram

Loonie lexy is having a meltdown.

Just instructing a juvenile on punctuation. Doesn't seem to help.

[bamscram]

Originally Posted by LexusLover

Just instructing a juvenile on punctuation. Doesn't seem to help.

[Rey Lengua]

Originally Posted by gnadfly

"Heckuva job, brownie", said the racist WTF to his crewleader.

You Betcha ! The Hovel Builder ( WTF ) is a big fan of "amnesty " so that he can not have to worry about getting caught employing the " sin papeles " crowd to use substandard material ( even though the bid said the specified correct material would be used ) and ignore ALL code requirements to get the job done BEFORE the agreed upon completion date. Mo money for the Hovel Builder, ya see ! ? !

[LexusLover]

Instructing a juvenile on punctuation doesn't seem to help.

All the juvenile can do is copy and paste what someone else has previously inserted in a posting. No one the juvenile is "punctuation challenged"! Maybe this will help...

[bamscram]

Originally Posted by LexusLover

Instructing a juvenile on punctuation doesn't seem to help.

All the juvenile can do is copy and paste what someone else has previously inserted in a posting. No one the juvenile is "punctuation challenged"! Maybe this will help...

They can teach a parrot to parrot just like you have been taught to parrot.

[garhkal]

Originally Posted by LexusLover

Won't the home builders and related businesses benefit from the injection of taxpayer money into the Southeast Texas and Florida disaster areas?

Yes they will get a massive influx.. Just like every other city/state does after a disaster..

[Yssup Rider]

Punctuation lesson.........
from the master of ellipses............

BAHAHAHAHAHAHAHAHA.....

Hahahahahahahaha.....

[Guest123018-4]

Yeah but they will bitch they cant find enough illegals to work for dirt cheap wages.

[IIFFOFRDB]

[garhkal]

Originally Posted by The2Dogs

Yeah but they will bitch they cant find enough illegals to work for dirt cheap wages.

Then i should laugh at them..

[LexusLover]

Originally Posted by garhkal

Then i should laugh at them..

They are leaving. You have to hurry up and laugh.

[LexusLover]

Originally Posted by garhkal

Yes they will get a massive influx.. Just like every other city/state does after a disaster..

You will probably discover in the long term the cities and states involved in Harvey and Irma will not receive a "windfall" of profit from the disasters. Nor will the citizens who are affected.

During the aftermath of each one of these "events" in the past dishonest persons have preyed on those affected and who have received benefits from the government/insurance companies and done everything from sign contracts, take money, and not done the work to doing incomplete or shoddy work using "used" or inferior materials, and crappy worksmanship.

The massive undertaking is difficult to monitor, and by the time the authorities get around to it the BUILDERS are long gone and have pissed off the money so no recovery can be obtained. The only gatekeeper can be the agency issuing work permits....who get overwhelmed with the paper work...and occasionally get "bribed."

[LexusLover]

Originally Posted by bamscram

Do you have an original thought? If you have a "thought" at all?

[RALPHEY BOY]

Originally Posted by LexusLover

Two questions initially: Will Houston issue permits on those homes and will they pass pre-loan inspections after "rehab"? My guess is no.

(Depending on their locations this isn't their first flooding.)

It sounds like they don't have an existing loan (60's to 70's), and why do they want financing on them? Or are they talking about the buyers wanting financing.

I imagine that in some of the areas ... based on what I've observed ... most of the homes lost of recent construction will be "short" and their value won't cover the loan and "rehab" and at the same time some of the others will have 2nd/3rd liens that consume any residual value to the homeowner after any closing ... if they can even sell them.

I'm familiar with the packages coming out of Katrina from Louisiana that provided displaced families an opportunity to purchase HUD foreclosures out of the HUD inventory, some of which had been section 8 rentals for years and were in terrible condition. I hope that model is not used again .... folks pissed off the money by living on it instead of paying off the HUD loan for their "new" home, and then when the bubble hit (built into the loan for the recovery from their lost home in Louisiana) they didn't have the money to pay down or refi the note. They went into foreclosure.

the financing for the home is for the buyers, they have special programs for Disaster Remodeling, I have never done one so do not know the exact parameters.

To pass for financing, the home just has to be 'safe, sound and sanitary'. That is not hard to accomplish.

[LexusLover]

Originally Posted by RALPHEY BOY

the financing for the home is for the buyers, they have special programs for Disaster Remodeling, I have never done one so do not know the exact parameters.

To pass for financing, the home just has to be 'safe, sound and sanitary'. That is not hard to accomplish.

Before Harvey I became familiar with some City of Houston issues with issuing "remodeling" permits with respect to flooded houses and financing/refinancing issues for known flooded properties.

It occurs to me that lenders may be hesitant to collateralize loans with property that is subject to flooding and/or have been flooded .... AND .. since Harvey there has been criticism of the local governments (city and county) regarding "allowing" people to build homes in areas that are subject to flooding (which includes releases by the Corps of Army Engineers).

Those are the types of issues that was the subject of my questions/concerns ... and I was not challenging your knowledge base .... making an inquiry .... btw ...

the renting of flooded properties has already begun.