
Since I was a kid growing up on Keesler AFB in Biloxi, MS, I have been enamored with the A-10 Thunderbolt. I used to watch those guys fly over my school and neighborhood and imagine what it would be like to fly in one. Since then I have had the chance to see them up close and, thanks to my dad, "fly" in a training simulator. Since it is a single seat aircraft and I am not an Air Force pilot, the chances of me actually flying in one are pretty slim.
But, I digress. I really do not want one of those magnificent birds to crash, I just want one of the pilots to "accidentally" drop a five hundred pound concrete "bomb" onto my house in Tucson. Yes, that would be the house on Bellatrix, the one in which I do not currently reside. I do have renters in it and I wish them no harm, but it would be very convenient if one of the practice 500 pound bombs was to land on the house (while unoccupied) and demolish it.
As convenient as that would be, I know it won't happen. And since I have blogged about it, if it does happen I will be investigated for fraud. So I just want to make it clear that, other than praying for it to happen, I am not making any other arrangements for it to happen.
Besides, I have a much better plan. I draw some inspiration for this plan from the experience that my buddy, Sean, had with the place he was renting while he lived in Tucson. About a month before his lease was up, he found a foreclosure notice posted on the garage of his house. He contacted his landlord and found out that she was indeed in foreclosure. So this means that all the time that she was collecting rent from Sean she was not making any payments on the property to her mortgage company.

And now I unveil my "$20,000 in 6 Months" plan. If I were to stop making payments on the mortgage for my Bellatrix house I figure I would have about six months before I would need my renters out of the house so the bank could take possession of the house. In that six months I would not pay my mortgage payments which would save my X dollars per month. And as we all know, a penny saved is a penny earned. But unfortunately X does not equal a penny or I would not have these problems.
So now for the next 6 months I save X dollars per month but I still collect my rent payment of Y dollars per month. So now I am making/saving X+Y dollars per month as long as I can keep the bank from forcing me (my renters) out of the house. And since I will be defaulting on one real estate loan, I might as well take full advantage and stop making payments on my dream crushed five acres in Benson which will save me another Z dollars per month. That would also allow me to do a little stick-it-you to Flagstar bank. Have I mentioned that I hate, yes HATE, Flagstar bank. May maggots consume its flesh while it is still alive! Did I say that out loud?
And where will we stand in 6 months if I can convince Lesley to follow me on yet another adventure? We will have roughly an extra $20,000 in our pocket, be debt free, and able to decide where we want to live instead of moving back into a place out of necessity. Sounds pretty good to me. I know my credit will take a hit, but who cares? I have excellent credit right now what did it do for me? Absolutely nothing. Besides, I figure, in this economic climate, that soon there will be so many foreclosed aliens that the banking industry/American government will have no other option than to grant credit amnesty to the countless masses and wipe the slate clean. Why not take full advantage of our government's idiotic decisions?
One last note on honesty. This little tid bit was given to me by my coworker, Bill. Is foreclosure dishonest? When I signed my mortgage with the bank on the Bellatrix house, the deal was that I would pay them back the amount borrowed plus interest. If I failed to do so, they would take possession of my house. They agreed that repayment was option A and taking my house in lieu of repayment was option B. Now that I do not want my house (and neither does anyone else for the amount of money that I owe on it) why can't I just give them back my house? This is not dishonest because they agreed to it as a part of the mortgage agreement. I would merely be exercising option B.
Please feel free to let me know what you think of my plan in the comments section. Also, if you have any ideas on how to improve this plan, I am all ears.