[Dec 15 2019] Foreclosure Saga - http://civilinquiry.jud.ct.gov/CaseDetail/PublicCaseDetail.aspx?DocketNo=FBTCV196091825S

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Will DSP file his bankruptcy before MidFirst Bank gets their hands on his WAkhando?

  • Yes

    Votes: 112 51.9%

  • No

    Votes: 104 48.1%
  • Total voters
    216
twattycake said:
I did the math (well, fucked around for 10 minutes in MS Excel) and the only explanation is that he got one of those low down payment/high interest rate/long repayment period FHA loans. I believe you can do 3% down on a 20 or 30 year mortgage under that program.
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He most probably got a shit deal when he got the CT khando, and likely because of how he obtained it.

Another small power-leveling thing, but when I was 'around' last year, I chatted a bit in LSB's Discord and tried to explain a few things about Phil since I knew him. It even came up on a small pseudo-interview I did on one of TXT's streams.

I heard through a mutual friend (I was pretty solid with the guy in question and he was closer to Phil than I was) that he bought the condo from a co-worker, but that he was also trying to get in said co-worker's pants. Now there's definitely reason to be skeptical of that information, but the way it came out was completely unprovoked, the guy had no ill-will towards Phil I was aware of, or anything that would entice him to lie about something I wasn't curious about. He just said it.

Rightly so, a lot of people who heard me say this were skeptical because it's absolutely unverified, but a few months later Phil told a story during one of his streams about how he bought the place from a co-worker, and how they used to car pool together for some kind of training or certification or night classes or some shit like that. There was some kind of falling out (either that couple's relationship, when Phil tried to move in, or him trying to move in on her caused them to stop talking to him). I was still around in the Discords at the time, and people realized I wasn't bullshitting about it. It also gave me a bit more confidence in the story I had heard.

So I wouldn't be surprised if the couple he bought it off of realized it was a shit deal and took advantage of him to get rid of it, and he never tried to renegotiate their contract. Or he bought it from them and negotiated a shit contract because he had some expectation that he would get rid of it soon or some other shit. I don't know nor care.

Just a tidbit that some may have forgotten about or been unaware of.
 
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Mr.PiggyOinkOinkOink said:
Damn, genuinely curious to see how dark spins this. How fucked is dark in all this? I admittedly don’t know much about this stuff
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Somewhere between "moderately fucked" and "dead man walking".

If the foreclosure goes through he will be liable for about $35k on the mortgage (balance on the mortgage less value of the condo) and his credit will be hot garbage for the next 7 years (length of time the foreclosure stays on his record).

What we don't know is, how much money does he/do his parents have to throw at this problem? "How much is Phil actually lying about his money problems" has always been the billion dollar question on this subforum and I think we are about to find out-like the posters above me mentioned, they're going to get the full amount out of him somehow. Anything he can't pay up-front will be paid through a payment plan or garnishment.
 
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*sigh*

ForeClosure.JPG
 
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DarkSydePundit said:
Sell your brand new car and sell the house and the problem is gone within 2 weeks, you absolute moron.

Also, sell Kat while you're at it.
She's just a Leanna Downgrade after all.

Like the Toyota you have now instead of the BMW.
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He doesn't own the car or the house, and he won't own Kat either onces he loses possession of the former.
I bet the Honda is upside down and there is very little equity in his property so selling those assets might get him deeper into debt, sounds like a beginner's trap to me.
Nothing he can do, dooooood.
 
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twattycake said:
Somewhere between "moderately fucked" and "dead man walking".

If the foreclosure goes through he will be liable for about $35k on the mortgage (balance on the mortgage less value of the condo) and his credit will be hot garbage for the next 7 years (length of time the foreclosure stays on his record).

What we don't know is, how much money does he/do his parents have to throw at this problem? "How much is Phil actually lying about his money problems" has always been the billion dollar question on this subforum and I think we are about to find out-like the posters above me mentioned, they're going to get the full amount out of him somehow. Anything he can't pay up-front will be paid through a payment plan or garnishment.
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You have to be pretty fucking well off to be able to throw 100k at a problem. I seriously doubt Phil has it, or his parents. Even if they did, that would put his dad's retirement back like 5-10 years. Dunno if Dave wants to make that sacrifice for little tarded Dave Jr.
 
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Leave it to Phil to think saying "fuck you, I'm not paying!" to the bank would work and then doubling down on the stupidity by completely ignoring the predictable legal actions taken against him. If he thinks the CT condo association is going to take the full brunt of this, he's mistaken. They'll take some of it, then they'll turn around and sue Phil to cover the cost because ultimately it's his fault for the foreclosure. Given how much money Phil makes on a yearly basis, I find it hard to believe the courts wouldn't order Phil to pay the full amount he owes. Wages garnished, for sure. He could always hope for another E7 to come around or go cry to his mommy to bail him out again.
 
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This comment matters said:
You have to be pretty fucking well off to be able to throw 100k at a problem. I seriously doubt Phil has it, or his parents. Even if they did, that would put his dad's retirement back like 5-10 years. Dunno if Dave wants to make that sacrifice for little tarded Dave Jr.
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$100k isn't accurate, he can credit the value of the condo (about $60k-70k if you trust Zillow) against the amount he owes so it's more like $30k-40k. Still a lot of money but David's in upper management and incredibly frugal from what we can tell while his mother spoils him rotten.
 
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Sparkletor said:
A month or two ago, Midfirst Bank bought Phil's mortgage from his original lender. I forget the name, it's in the finance thread. Well it looks like Phil hasn't been paying his mortgage and Midfirst is suing him to take possession of the condo.

Will he still owe money? Possibly. If the value of the condo is less than the amount he owes it is called a "deficiency". Phil will have to pay the balance.

Edit to add: Forclosure usually begins 3 to 6 months after the homeowner becomes "delinquent" or stops paying. This means he probably wasn't lying in April when he said his plan was to just stop paying for the condo. Well played!
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Is this around the time that he stated on stream that he may just stop paying for the condo and let it go into foreclosure? I don't remember how long ago that was but I'm sure it was this year and people were talking about how stupid of an idea it was...because it is.
 
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twattycake said:
$100k isn't accurate, he can credit the value of the condo (about $60k-70k if you trust Zillow) against the amount he owes so it's more like $30k-40k. Still a lot of money but David's in upper management and incredibly frugal from what we can tell while his mother spoils him rotten.
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For what it's worth, the bank refused a short sale that was in the $60k range previously.
 
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twattycake said:
$100k isn't accurate, he can credit the value of the condo (about $60k-70k if you trust Zillow) against the amount he owes so it's more like $30k-40k. Still a lot of money but David's in upper management and incredibly frugal from what we can tell while his mother spoils him rotten.
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Very true I was thinking like a mentally ill nudnick and calculating based on avoiding the foreclosure and subsequent credit score anal raping. Not like a mature, intelligent, human family man like Phil.
 
WeeblesWobble said:
Is this around the time that he stated on stream that he may just stop paying for the condo and let it go into foreclosure? I don't remember how long ago that was but I'm sure it was this year and people were talking about how stupid of an idea it was...because it is.
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If it wasn't exactly around the time, I believe it was in close proximity. It would make sense that it would come up in that sort of discussion, as he tries to explain away his problems and how he came into possession of something that's doing nothing but driving him further into debt. Phil kind of has a habit of giving more information than necessary, and it probably ties into his lack of a real social life and these things coming up casually, so he forces it to his audience.
 
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