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Well in what I call the darkness state those in power and business at many levels in my opinion have fine tuned another way to make money, it is called sinkholes. Now this is so complex one has to understand the process.
First as we all know a homeowner with a mortgage is required to carry insurance. Required mind you to protect the lender not what you presume, the little guy, who really owns nothing until the debt is paid. Now because along with being right to work state and Sunshine state, really, it is a lightning haven also a sinkhole leader. Therefore insurance is mandated, period.
Now for insurance purposes the home is valued at replacement cost. That cost can be way over the actual retail or market cost of your home but once again it isn't about you. Now there are two options for insurance. A complete coverage which will allow you to make a choice to repair and stay or get the money, pay off the lender and move. The second option basically says the home is repaired and you continue to live in it unless condemned and they are rarely condemned. In my opinion much more financially at stake.
Now the second is what most little people have because frankly the other choice cost thousands more and who can afford it but those that have, you know $$$$. Hey this is correct because the rich are always protected, from cars to homes to anything, a fact of life.
Now here is where the real money making comes in. If your home is being swallowed by a sinkhole the insurance will come in and "stabilize" it. That is pour truck load after truck load of expansion grout in the hole save the home and right it, level it. You then get a certificate which says if anything happens in the next five years we will come in and repair it for free, wow, how comforting. If I could I would show you a picture of the homes being swallowed but you can go to the front page of the St. Pete Times On Line and see it live.
Of course those with money who have the full coverage take it and run. Now here is where the fun comes in. If one runs and many who have who are upside down are praying for a sinkhole, as these people said and to p[paraphrase, an answer to their prayers, the bank is paid. The bank could care less about fixing homes and they don't want to spend any money so if they can they sell it at reduced rates. If not it rots. Perhaps the good local politicians will buy, fix and sell the home with government bailout money in the neighborhood stabilization act? Hey another win, win, for business and government. Yes. all part of that 100 days of great work. So, more money for them while the new owner fixes the home and then either sells it or rents it. The new tenant or owner sitting on a time bomb. No one ever mentions the compression grout and what if one of the sides it is compressing against opens. No, just that it has been repaired and in many cases who cares or ignorance steps up once again? Oh, well, let the buyer beware.
Now if that new owner decides to sell that home I understand and you can check that out, they are under no obligation to report that sink hole? Hey welcome to Florida where the Sun always shines and not much else unless you have $$$$$. I understand from a reliable person that in many cases that is what happens, really, is that ethical, really? I hope that is not true.
Now those foreclosure deals you hear about in this state. Well many, not all but many are just that. The others are the short sales, evictions and plain outright it works for me situations, I stole a home, God loves me.
For the life of me it is scary as to why many just do not give a damn and then again, it speaks to the answer. You shall know them by the fruit of their works, not what they say. Yes you who serve the people, we do know you and you know yourself because where you heart is so is your God. It really is simply speaking, that.
Yes I can be found at http://realconsiderations.blogspot.com/
Robert T. Melaccio Sr. 2009 Copyright © 2009 Robert Melaccio Sr
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