5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4914 Kettle River Point

Suwanee, GA 30024

$2599000
Welcome home to this Impeccable Family Retreat - you'll never have to go on vacation again! Stunning brick & stone estate situated on almost an acre of pure luxury overlooking the 4th hole. No detail has been spared inside and out with superb craftmanship on all 3 levels. Perfect home for entertaining or everyday family living. Outdoor amenities are unparalleled w/ pool, hot tub, firepit, putting green, poolside cabana w/ swim up bar. Elan system for whole house entertainment w/ control 4 for media. Master on main with Jr masters on the upper and terrace floors.

Summary

MLS #5664792
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage10597
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1499999
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1499999
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1444800
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1444800
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5192 Boulder Bluff Way

Suwanee, GA 30024

$1425000
Fabulous build opportunity with builder Pat O'Donnell. Lot is nestled in quiet cul de sac close to The River Club amenity area. 5 bed/5.1 bath home. Master suite on main with spa like bath and his/her closet. Formal dining room/study, gourmet cook's kitchen over looking the great room and outside covered veranda with fireplace. Four additional bdrms upstairs all with private baths. Live in a community that meets expectations.

Summary

MLS #5741679
Price1425000
Bedrooms5
Bathrooms (Full)5
Square Footage4571
Square Footage SourceBuilder
StatusActive

Features

news | Garage with a Detached Home | Gwinnett County GA

LaneBailey.com

Garage with a Detached Home

Contact Lane
  • What's YOUR Home Worth?

    Get a free Maximum Price Analysis to find out the current market value of your home.

    Read More
  • Custom Listings

    Sign up to get notified when new listingscome on the market that meet your specs.

    Read More
  • Browse Listings

    Take a look at what is currently on the market in the areas that interest you.

    Read More
  • 1

Category Archives: news

Boyd Coddington, 63, dies.

WhatthehayeFor those that haven’t heard, legendary car builder Boyd Coddington died Wednesday, February 25th in Whittier, CA. Here is a link to one of the news stories. He was 63.

If you don’t know who Boyd Coddington was, here is a quick rundown. CadZZilla

  • Coddington wheels… he started the billet trend.
  • Hot Rods by Boyd.
  • Chip Foose and Jesse James worked for him.
  • American Hot Rod on TLC.
  • CadZZilla.
  • His Delahaye inspired Whatthehaye… which auctioned for $540,000.
  • Lead Zephyr.Boyd Coddington

Lead ZephyrThe cars are numerous and famous. There is no doubt that Boyd contributed in amazing ways to the automotive landscape of this country. Read the story in the LA Times. Google him. Google the cars.

Here are a few of the cars.

Get the E-newsletter!

Beginning a week or so into March, I will be producing an electronic newsletter to be mailed out.  It will carry highlight articles from Garage with a Detached Home and GarageHomesUSA.

I have mailed a few hard-copies out to selected addresses, and you are always welcome to be added to that list as well, but the electronic version will be cooler.

I’d love to add you to the list, and send out your newsletter as soon as it becomes available.

**As a note, we will never sell, trade or otherwise give away your email address or any other personal information, unless specifically directed to by you.  All information you provide is confidential.  We are not in the mailing list business, and our goal is to provide you with pertinent and appropriate content, not gather email addresses or other information.**

Are you a blood donor? Mud 4 Blood

Local 4wd club, GBR4WD will be hosting their 5th annual Mud 4 Blood Drive at Bass Pro Shops on Saturday, May 10th.

They have been doing this for several years, and each year’s event has been bigger than the last.  Last year they pulled in over 140 pints of blood for LifeSouth.  For several years, Mud 4 Blood was LifeSouth’s biggest one day draw.  The GBR has been unseated by another group, and wants to regain the title for the Atlanta area off-road community.

In conjunction with the blood collection, GBR, along with other local 4 wheel drive clubs, will be staging a “real world” truck show, a silent auction, scratch and dent sale from a local Jeep parts wholesaler (Omix-Ada/Rugged Ridge), and a giant raffle drawing.

Last year they gave away over $4000 in raffle prizes and door prizes.   Pit Bull tires, 4 Wheel Parts and many other vendors stepped up with incredible prizes and giveaways for the blood donors.

Omix-Ada/Rugged Ridge emptied their warehouse of scratch and dent items, and then donated the proceeds of the sale to the Jennifer Scott Memorial Fund at the March of Dimes and the GBR4WD AED (Automatic External Defibrillator) fund.

The “real world” truck show is unique.  instead of chrome and fancy paint, there will be mud and dents.  Aside from fan favorites, awards may be given for things such as “Best Use of the Color Orange”, or “Most Interesting Use of a Windshield Wiper Arm”.  In addition to real tested trail trucks, there will be rock crawlers and mud boggers.

Of course, there are kids games, food (free for donors) and loads of fun.

For more information, feel free to follow any of the links above.

Posting from the Rain…

*** This is re-posted from my blog on Active Rain***

I heard voices…

And they were smart voices.

Wandering around in the Rain, there have been scores of bloggers pointing out that the federal government trying to “fix” the foreclosure crisis.  Now, Inman News is saying the same thing.   (the link will only be good until it goes behind the curtain)

Most families facing foreclosure today were on weak financial ground, he says, and “will defy every effort” at workouts. “Even extraordinary rewrites will beget re-default, the poorly maintained house creating deeper loss in the ultimate foreclosure, the troubled inventory overhanging the marketplace and preventing recovery,” Barnes writes.

And goes on to say…

In an effort to prevent foreclosures, consumer groups and Senate Democrats want to give bankruptcy judges the power to cram down mortgage loan modifications over the objections of lenders. (see recent blog post, and watch Inman News headlines Monday for details on how the cram down provisions in S 2136 have been rolled into a more sweeping foreclosure prevention bill, S 2636).

Supporters of cram downs say voluntary efforts by loan servicers to engage in workouts with borrowers haven’t done much to slow the pace of foreclosures, and that any increase in mortgage rates won’t be as drastic as the industry predicts.

Although Barnes didn’t address cram downs in his latest column, I thought it was interesting that he raised foreclosures and mortgage market liquidity in the same breath, and concluded that it’s the credit crunch, not foreclosures, that pose the biggest threat to a recovery.

They also point out…

Pavlov and Wachter’s December 2006 paper, “Aggressive Lending and Real Estate Markets,” looked at the use of ARM loans in 22 Los Angeles neighborhoods where prices fell more than 21 percent between 1990 and 1995. Perhaps not surprisingly, prices fell harder in neighborhoods where ARM loans were more prevalent. But the study’s most surprising finding was that it wasn’t the higher default rates on ARM loans that sent home prices plummeting, but their lack of availability during the downturn.

So, a lot of people that study these things are saying that the government, trying to provide relief is doing EXACTLY the wrong thing.  Of course, it is populist to go after the banks and talk about corporate greed and not personal responsibility.  (BTW, remember that those ideas are coming from both sides of the aisle).  Instead of helping people and getting us past this, it will only delay and increase the severity.

The cry of all of the people that aren’t being foreclosed are losing value is a valid one… but, is it not worse to drag the problem out and make it take a decade for price recovery than to let the market find its bottom and work through it in just two or three years?  Would those responsible borrowers and homeowners not be better served by the restoration of their equity sooner, rather than later?

Feel free to post links back to other blogs with arguments on both sides of this issue.  (Note:  I did not post links to A/R blogs that echoed this sentiment.  There are a lot.  I have read a bunch of them.  Feel free to post links to your blog.  I didn’t want to miss a good one… and there are many.)

Game on…

Stupid criminals… Stupid banks…

Two items from the REALTOR® Magazine Online Daily Brief:

A masked gunman held up an Athens, Ga., bank on Thursday, saying that he was only getting his money back after the lender had foreclosed on his home.

The man entered Regions Bank wearing a black ski mask and pointed a handgun at a teller and said, “You took my house, now I’m going to take your money,” according to Athens-Clarke police.

The man fled carrying the money in a bag. The bank plans to review foreclosure records to try to identify the man.

Source: Athens Banner-Herald, Joe Johnson (02/21/08)

And then:

A federal judge in Wilmington, Del., where many of the country’s largest companies are incorporated, says he is considering reining in mortgage companies that have been foreclosing on consumers who have brought their home loan payments up to date while they are in bankruptcy.

This week, several big mortgage lenders, including Countrywide Financial Corp. and Wells Fargo & Co., told Judge Brendan Shannon of the U.S. Bankruptcy Court that he didn’t have the power to decide whether late fees and other costs imposed by mortgage companies on bankrupt home owners are appropriate.

An attorney for several mortgage lenders, including Countrywide and Wells Fargo, said Congress recognized a “clear bright line” in the bankruptcy law, one that keeps judges from interfering with mortgage companies.

Shannon dismissed that argument saying that if it were true, he would be on a “complete fool’s errand.”

Shannon said the “surprise” charges make problems for the bankruptcy system, because home owners who have just emerged from bankruptcy can be forced back into bankruptcy to fend off foreclosure attempts.

Source: Dow Jones Newswires, Peg Brickley (02/21/08)

Why am I connecting these two stories?

Primarily because they are both related to real estate and stupid moves on the part of the subjects. In the first story, the line “You took my house, now I’m going to take your money,” ignores a very basic fact.

The bank didn’t take HIS house. They took back their house. He wasn’t paying for it. Why should they let him stay there? He made a promise to pay for the house they bought for him. And, he didn’t live up to his end of the deal. So, not only is that bank probably losing money trying to get paid back, but he adds insult to the injury by stealing some more.

And remember, this is GA. We didn’t have the value collapse that CA and some other markets have had. The interest rates have stabilized.

Of course, until this guy is caught, we won’t know the whole situation… but he sure isn’t Robin Hood.

And then there are banks acting stupid. I just don’t get it. Right now, while the banks are looking at a flood of foreclosures, and literally being run out of business under the pressure, if someone wants to get current and keep the house, the bank should be THRILLED. There are websites telling people to just walk away. And people are doing it in droves. But here are people that are trying to make good on their promises. And the banks are looking to stick it to them some more. It is flat out dumb business.

Two options:

  1. As a borrower emerges from bankruptcy, trying to keep their house and catching up on payments, the bank can slam them with extra fees and perhaps get a little revenue… or drive them back into bankruptcy… where they lose the house.
  2. As a borrower emerges from bankruptcy, trying to keep their house and catching up on payments, the bank can waive the extra fees and offer free classes in financial management.

Under the first option, the bank gets a non-performing asset (we would call that a liability now) and the lifelong anger of the borrower, their friends and relatives. Maybe even the public will start to catch wind of this… and there could be a public backlash.

Under the second option, the bank gets a consumer that is better educated, and understands that they got a helping hand and gift. They don’t have to take on the foreclosure process and instead of anger, they get admiration for being responsible. If the public gets wind of this, they could get a positive viral message from it.

Mark my words. There will be a maverick bank that will stop looking at chiseled in stone rules, and starts looking at ways to fairly deal with these people… while helping their own bottom line. They will emerge as a stronger institution with much more community goodwill.

I am a free market advocate. So, I think that strategy like this needs to come from the business, not from the government. And it only makes sense.

Copyright © 2009 - 2016 Garage with a Detached Home | Gwinnett County GA. All Rights Reserved. Created by Blog Copyright.