Posted by admin | Posted in Model Railway | Posted on 07-05-2009
Tags: automobile boxcar
Looking For Automobile Boxcar ? Then This is Where You Want to Be
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 PROTO SERIES 2000 50 Automobile box car HO SCALE NIB $7.99 Time Remaining: 13h 7m Buy It Now for only: $12.99 |
 LIONEL 6 39316 NEW HAVEN AUTOMOBILE BOXCAR $46.95 Time Remaining: 15h 33m Buy It Now for only: $46.95 |
 HO Proto 2000 Santa Fe ATSF P2K 50 Automobile box cars KIT $10.95 Time Remaining: 21h 18m Buy It Now for only: $12.95 |
 Athearn 50 PRR Double Door Automobile Box Car g58 $7.99 Time Remaining: 21h 27m Buy It Now for only: $9.99 |
 MICRO TRAINS 50 UP DOUBLE DOOR AND END DOOR AUTOMOBILE BOXCAR R77 $13.99 Time Remaining: 22h 53m Buy It Now for only: $17.00 |
 LIONEL 6 27282 UNION PACIFIC MAP 50FT DOUBLE DOOR AUTOMOBILE BOX CAR $68.99 Time Remaining: 1d 1h Buy It Now for only: $68.99 |
 K Line 5718 Union Pacific UP Automobile Boxcar $9.99 Time Remaining: 1d 16h 2m |
 1930s Lionel 214 Automobile Boxcar Very Nice $435.00 Time Remaining: 1d 20h 34m Buy It Now for only: $495.00 |
 HO scale nikel plate road 50ft automobile box car weathered $25.00 Time Remaining: 1d 21h 2m |
 PROTO 2000 HO 50 FT AUTOMOBILE BOX CAR 30325 CBQ 48574 $15.00 Time Remaining: 1d 21h 17m |
 Lionel 6468 25 New Haven Automobile Boxcar Nice Original $21.50 (6 Bids) Time Remaining: 1d 22h 18m |
 Furniture and Automobile Box Cars 1887 1997 Santa Fe Rolling Stock Reference $29.95 Time Remaining: 2d 12h 26m Buy It Now for only: $29.95 |
 Ho Proto 2000 RTR CBQ 50 Automobile Box Car $13.95 Time Remaining: 2d 12h 37m |
 Lionel 6468 Tuscan Baltimore Ohio Automobile Boxcar Clean Real $26.00 (3 Bids) Time Remaining: 2d 18h 35m |
 Kadee 43087 Union Pacific 40 automobile boxcar w Kadee couplers $6.95 Time Remaining: 2d 19h 30m |
 Lionel 6468 BO Double Door Automobile Boxcar 1953 NICE LK $29.95 Time Remaining: 2d 21h 9m Buy It Now for only: $39.99 |
 ACCURAIL HO 40 DD AUTOMOBILE BOXCAR SOUTHERN 272999 $9.99 Time Remaining: 2d 21h 11m |
 2 HO Scale Southern Pacific SP 50 Automobile Box Cars Kadees $10.95 Time Remaining: 2d 21h 17m Buy It Now for only: $14.95 |
 LIONEL POSTWAR O GAUGE 2458 PRR AUTOMOBILE BOX CAR X924 $59.99 Time Remaining: 2d 21h 48m |
 GULF MOBILE OHIO Automobile Double Door BOXCAR 52162 u99 LOTS $53.95 Time Remaining: 2d 22h Buy It Now for only: $53.95 |
 MTL MICRO TRAINS 78040 LEHIGH VALLEY 8505 50 AUTOMOBILE BOX CAR END DOORS NIB $14.99 Time Remaining: 2d 22h 15m Buy It Now for only: $16.49 |
 Vintage HO Wood and Cardboard Freight Cars GTW CEI BO Box Automobile Box Car $6.99 Time Remaining: 2d 23h 23m |
 Lionel 39316 New Haven Double Door Automobile Box Car NIB $39.50 Time Remaining: 3d 23h 18m |
 Proto 2000 HO CBQ 50 Double Door Automobile Box Car 4 Pack Kits $24.98 Time Remaining: 4d 6m |
 Lionel Baltimore Ohio Automobile Box Car No 6468 Post War O Gauge $5.00 (2 Bids) Time Remaining: 4d 1h 32m |
 Proto 2000 LV 8524 50 Automobile Box Car Kit LIF30308 $8.50 Time Remaining: 4d 10h 39m Buy It Now for only: $8.50 |
 Railroad THREE different Automobile Box Car Blueprints $7.99 Time Remaining: 4d 23h 25m |
 Funaro FC 6770 40 1930s Automobile Boxcar CO CHESAPEAKE OHIO 1 PIECE BODY $44.99 Time Remaining: 4d 23h 58m Buy It Now for only: $44.99 |
 LIONEL No 814 Automobile Furniture Box Car Cream Maroon Prewar 1926 1942 RARE $27.99 (1 Bid) Time Remaining: 5d 9h 34m |
 Proto 2000 50 Automobile Boxcar Kit w Dreadnaught Ends 84445 CN 599001 $9.95 Time Remaining: 5d 18h 24m |
 Proto 2000 HO Southern 50 Double Door Automobile Box Car 4 Pack Kits $39.98 Time Remaining: 5d 19h 37m Buy It Now for only: $39.98 |
 Vintage 1950S O Gauge Pennsylvania Railroad Automobile Boxcar 2458 40S $19.99 Time Remaining: 5d 22h 43m |
 LIONEL Postwar 6468 BALTIMORE OHIO DOUBLE DOOR Automobile BOXCAR 1953 LK $39.95 Time Remaining: 5d 23h 21m Buy It Now for only: $39.95 |
 HO Scale Roundhouse Texas Pacific 50 Automobile Box Car Assembled $15.00 Time Remaining: 5d 23h 27m Buy It Now for only: $15.00 |
 Proto 2000 HO Lehigh Valley 50 Double Door Automobile Box Car 4 Pack Kits $24.98 Time Remaining: 6d 6m |
 Lionel 6468 Baltimore Ohio Automobile Boxcar Ex++ $19.99 Time Remaining: 6d 18h 26m |
 Lionel 6468 BO Double Door Automobile Boxcar 1953 NICE LK $39.99 Time Remaining: 6d 21h 1m Buy It Now for only: $39.99 |
 LIONEL 6468 BALTIMORE OHIO Automobile Boxcar $49.95 Time Remaining: 6d 21h 4m Buy It Now for only: $49.95 |
 52551 UNCATLOGED MILWAUKEE RD DOUBLE DOOR AUTOMOBILE BOXCAR $78.95 Time Remaining: 6d 22h 53m Buy It Now for only: $78.95 |
 39316 NEW HAVEN DOUBLE DOOR AUTOMOBILE BOXCAR $43.95 Time Remaining: 6d 22h 53m Buy It Now for only: $43.95 |
 Athearn HO Rolling Stock 50 Double S D automobile Boxcar PRR $4.99 Time Remaining: 6d 22h 56m |
 Lionel 9764 GTW DD Automobile Boxcar Grand Trunk WesternFREE SHIPPINGEXC $43.00 Time Remaining: 6d 23h 26m Buy It Now for only: $52.00 |
 Lionel 6 9460 Detroit Toledo Shoreline Double Door Automobile Boxcar OB 1982 $29.99 Time Remaining: 7d 14h 8m Buy It Now for only: $29.99 |
 Proto 2000 HO GTW 50 Double Door Automobile Box Car 4 Pack Kits $39.98 Time Remaining: 7d 17h 53m Buy It Now for only: $39.98 |
 Southern 50 Automobile Boxcar 42010 Kit HO Scale by Proto 8419 $22.49 Time Remaining: 9d 10h 37m Buy It Now for only: $22.49 |
 LIONEL 6 9460 LCCA DTS 1982 AUTOMOBILE BOX CARNIB $37.00 Time Remaining: 9d 10h 38m Buy It Now for only: $37.00 |
 Proto 2000 UP 50 Automobile Boxcar 161441 NIB $14.99 Time Remaining: 9d 13h 8m Buy It Now for only: $14.99 |
 Con Cor 1481 50 Automobile Box Car N Scale MIB $12.98 Time Remaining: 9d 20h 3m Buy It Now for only: $12.98 |
 Con Cor 1481M 50 Automobile Box Car N Scale MIB $12.98 Time Remaining: 9d 20h 3m Buy It Now for only: $12.98 |
 Con Cor 1481H 50 Automobile Box Car N Scale MIB $12.98 Time Remaining: 9d 20h 3m Buy It Now for only: $12.98 |
 MILWAUKEE ROAD BIG M AUTOMOBILE DD BOXCAR MLrrc u09 52551 $78.95 Time Remaining: 9d 22h 37m Buy It Now for only: $78.95 |
 Walthers 41651 50 Double Door Automobile Boxcar HO $29.98 Time Remaining: 10d 12h 5m Buy It Now for only: $29.98 |
 Walthers 41654 50 Double Door Automobile Boxcar HO $29.98 Time Remaining: 10d 12h 8m Buy It Now for only: $29.98 |
 Walthers 41655 50 Double Door Automobile Boxcar HO $29.98 Time Remaining: 10d 12h 9m Buy It Now for only: $29.98 |
 Walthers 41652 50 Double Door Automobile Boxcar HO $29.98 Time Remaining: 10d 12h 10m Buy It Now for only: $29.98 |
 Walthers 41656 50 Double Door Automobile Boxcar HO $31.98 Time Remaining: 10d 12h 11m Buy It Now for only: $31.98 |
 Walthers 41657 50 Double Door Automobile Boxcar HO $29.98 Time Remaining: 10d 12h 13m Buy It Now for only: $29.98 |
 1954 DESOTO TIN BOX CAR IAN LOGAN UK1982 $5.00 Time Remaining: 11d 5h 49m Buy It Now for only: $5.00 |
 Proto 2000 Series 50 Automobile Box Car 591534 $19.95 Time Remaining: 11d 16h 54m Buy It Now for only: $19.95 |
 Proto 2000 50 Automobile Box Car GTW 591534 $19.95 Time Remaining: 11d 18h 6m Buy It Now for only: $19.95 |
 Lionel 6 9210 BO Automobile Boxcar $20.49 Time Remaining: 11d 20h 6m Buy It Now for only: $20.49 |
 HO Scale Proto 2000 Burlington Route 50 Automobile Box Car Kit $18.00 Time Remaining: 13d 59m Buy It Now for only: $18.00 |
 HO Scale Proto 2000 Santa Fe 50 Automobile Box Car Kit $18.00 Time Remaining: 13d 1h 2m Buy It Now for only: $18.00 |
 N DECALS PRR 50 DOUBLE DOOR AUTOMOBILE BOXCAR c1960s PREMIER NIP $3.99 Time Remaining: 14d 8h 43m Buy It Now for only: $3.99 |
 1955 Studebaker E28 Stake Truck Railroad Boxcar Factory Photo Ref 78344 $5.00 Time Remaining: 14d 11h 31m Buy It Now for only: $5.00 |
 N DECALS SPOKANE PORTLAND SEATTLE 50 DD AUTOMOBILE BOXCAR c1957 PREMIER NIP $3.99 Time Remaining: 15d 7h 39m Buy It Now for only: $3.99 |
 GENERAL MOTORS GM CHEVY LOGO ZIPPO LIGHTER SEALED NEW in GIFT BOX CAR TRUCK $39.25 Time Remaining: 15d 8h 27m Buy It Now for only: $39.25 |
 1955 Topps Rails Sails 99 Automobile Box Car SP PSA 6 $34.00 Time Remaining: 15d 16h 58m Buy It Now for only: $34.00 |
 GM CHEVY BOWTIE STAMP ZIPPO LIGHTER DISCONTINUED MINT IN GIFT BOX CAR TRUCK $39.25 Time Remaining: 15d 18h 17m Buy It Now for only: $39.25 |
 HO 1 87 sc P2K Chicago Burlington Quincy CBQ 50 AUTOMOBILE BOX CAR KIT $19.99 Time Remaining: 15d 20h 30m Buy It Now for only: $19.99 |
 HO Athearn 50 Double Door Pacific Southern Automobile Box Car 1983 Kit $7.99 Time Remaining: 16d 12h 38m Buy It Now for only: $7.99 |
 1947 Youngstown Sheet Tube Ad Union Pacific Railroad Automobile Box Car $7.00 Time Remaining: 16d 16h 21m Buy It Now for only: $7.00 |
Caught in a Riptide of Mortgage Debt With Rising Monthly Payments
When the nightly main stream television news leads with stories regarding mortgage foreclosures and down turning markets a viewer knows a trend has arrived. This is all backed up with data indicating the surge of properties for sale on the market with mortgage foreclosures trending up as well. Various areas are experiencing more downside moves than others. However, the overall housing trend is down at the current moment. Two years ago, if a buyer or seller breached the subject of a Short Sale, where the lender settles less than what is owed, the response would have been “What are you nuts?†“We’ll just put it on the market and it will be gone in two weeks.†Moving forward, if a seller is setting on a mountain of debt and just happened to have an ARM mortgage with negative amortization building up to 115% of the original mortgage this could be a bad thing. Then simultaneously the property values have dipped then the owners may find themselves upside down in the property where the mortgage is larger than the value. Some areas have had employment downturns as well to further complicate the affected family’s financial stability. This is all with a backdrop of a rising economy that gives hope in the long-term scope of things. Historically, real estate, much like other investments rolls out in cycles. Right now, there is some question whether the bottom is in sight. Lower priced properties will spur some activity along with seller concessions. Buyers are now enjoying the comfortable shoes and benefits of seller’s past. Interest rates are still at a reasonable level compared with say 20 to 30 years ago. Thus a good price with terms and concessions will garner interest from buyers. Enter the lender-stage right.
The phone was ringing night and day with bill collectors. The power had been shut off recently, now back on. The latest notice of payment increase from the lender had been received and the payments were going to go up $300/month on their Adjustable Rate Mortgage (that has a negative amortization feature) starting in two weeks. Terry and Lynne were up against it. With three children the family budget was in the process of blowing up. Three years ago, while competing against five other buyers, Terry and Lynne bid $15,000.00 above the list price to get an accepted offer. Now the prices in the neighborhood have fallen back. If they were to sell using a Realtor plus other costs there would not be enough to cover the mortgage, they would have to bring money to the closing table in order to close the deal. This was not a good prospect. With savings tapped out there just wasn’t any cash available. Terry and Lynne quickly recognized that they had to do something immediately or their home would be falling into foreclosure. In the short term, they got rid of their cars along with the big payments and bought some high mile but reliable automobiles for transportation. That was still not enough. To keep things going, all the credit cards had been maxed out and there just wasn’t one extra dollar to pay the minimum payments. Macaroni and cheese was getting pretty old.
Terry and Lynne decided to sell the house and move into something smaller and less expensive. Recently the taxes and insurance had gone up as well on the property. Hits were coming from all sides. Terry and Lynne contacted the Realtor who had sold them the house. They had been getting her monthly newsletters since they had bought the home. In a recent newsletter, there was an article regarding a Short Sale. Terry called Nancy, the Realtor, to find out if that might work for them. Nancy explained with a bona fide contract on the table and a financing approval letter for the buyer, the lender MIGHT consider a Short Sale. Comparables were pulled at it looked like the value was about $30,000 less than what was owed. Terry and Lynne gave Nancy a Signed Authorization to discuss the mortgage status and the possibility of lender assistance. Nancy made the contact to the lender and discussed the fact that Terry and Lynne had to move as they were out of cash. It turns out that even at the lower payment before adjustment, Terry and Lynne had been 30 days or more late every month called in the mortgage trade a rolling thirty. The lender was aware of their struggles at least as far as their mortgage pay history was concerned. This was one of the top lenders of the country and this was not unusual with their current portfolio to hear the same recurring story. Times were tough. If a foreclosure was to take place over a six-month period, the losses could be in the $50,000 to $60,000 range or more per trade numbers. Nancy explained that the lender had the right to go after a Deficiency Judgement against Terry and Lynne for any monies not satisfied at closing and that they should consult an attorney for legal advice. There likewise could be taxable income to Terry and Lynne for the shortfall amount. An accountant needed to be consulted. The attorney shared that they could do a Deed In Lieu Of Foreclosure, but it would be on their credit. The Short Sale may save the lender some money over going to a full foreclosure. Terry and Lynne decided to give the sale aspect a shot. At the same time, the attorney explained the benefits of seeking some protection through a Chapter 13 Wage Earner Bankruptcy Plan. A plan would be submitted to the Bankruptcy court and if the creditors agreed their overall payments could be reduced by at least a $1,000/month. This was the kind of relief Terry and Lynne were looking for.
It took three months to get an offer where the seller was being asked to pay $9,000.00 of the closing costs and prepaids. The offer was subject to lender approval on the Short Sale. The offer, pre-approval letter on the buyer together with the seller concessions and all addendum together with the facts that Terry and Lynne had filed a Chapter 13 and had excluded and exempted the mortgage from the petition was all shared with the mortgage holder. It was unclear whether the Bankruptcy Trustee was required to approve the sale. Their attorney was to follow up. Bottom line, the lender was being asked to take a $43,000.00 hit at closing. The lender took a week to answer. The contract was structured to allow for time on a lender answer. The phone rang and Terry picked up the phone. It was Nancy, the lender had accepted the terms on the condition that they received zero money at closing. They would take their furniture and turn over the keys and that was it.
Terry and Lynne felt like a boxcar had been lifted off their shoulders. After closing, they vowed to did out of this hole and take some family budget course and set on a strong savings regimen. With the monthly housing savings, Terry and Lynne were able to put a first and last months rent down on a large three-bedroom townhouse rental in the kids same school district and were now considerably below their former housing payment by $900/month. With the savings from the Chapter 13 Wage Earner Repayment Plan Terry and Lynne were now able to breathe and maintain a family budget with savings. With on time payments of the Chapter 13 Repayment Plan, over time, their credit should improve. The once per year free credit reports from the three bureaus will help track their progress. They planned now to accelerate the payback plan by $400/month and reduce the pay out term to 36 months. Terry and Lynne could see the light at the end of the tunnel and it was not an oncoming train.
In this case, the Short Sale was the answer for this couple. It’s not for everyone. Some lenders will not even consider it. It is a tool that can be used to solve an otherwise impossible situation.
Many lenders do not pursue the Deficiency Judgement, some do. It would be prudent to determine the lender’s intentions. An attorney at the ready is a good idea to work out a plan.
Dale Rogers
www.BrokenCredit.com
www.sellerhelpsbuyer.com
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About the Author
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.
www.BrokenCredit.com
www.sellerhelpsbuyer.com