Originally posted by chiron613
You may say they "deserve" it for being "deadbeats", but it's not always possible to make your payments. Many people have been laid off or had
their hours cut, making finances even more difficult than before. Some people had their mortgage rates go up simply because they were late on a
utility bill. Suddenly, their credit cards and mortgage rates all go up. For some, it pushes them over the edge. They can no longer keep up, and
their houses are foreclosed.
I've been evicted once, and I wouldn't say I was deserving of it, or necessarily a dead-beat.
When this Economic Recession first started happening in the IT Sector about 4 years back I was laid-off from my job. Thankfully, I had been saving up
for a House, so I was sitting on a lot of Savings. Unfortunately, it was nigh impossible finding a job, any job. I was even applying at Coffee Shops
and Fast Food Joints willing to take anything. However, despite having glowing letters of recommendation, excellent references, certifications up the
wazoo, and an enviable 25 year work history, no one wanted to hire me because I was too over-qualified to do anything but Senior IT Positions. After
11 months of looking for a job I was desperate enough to consider putting my 10 year old daughter in ragged clothes and putting mud on her face and
letting her hold a puppy on the street corner begging for change.
I ended up being out of work for 13 months, and my Savings ran out after 11 months. I had lived in the same place for 12 years and had a flawless
history with my Landlord. However the moment I couldn't pay Rent, she didn't want to work anything out and started the Eviction process. My daughter
and I were kicked out on our ear with 3 hours to move what we could.
Of course, there was a happy ending to the story, as I got an Senior IT job two days later, and moved into a house. Still, most people don't have
those kinds of happy endings.
There are four families left on my street. All the others have been foreclosed and evicted. I didn't know them well enough to say they weren't
dead-beats, but they were decent, hard-working folk with small children.
How hard is it for Landlords and Banks to work something out when a family becomes unemployed for an extended period during tough economic times? If
they have to pay the Courts for an Eviction and then sell the house at auction for a loss, then they are going to be out far more money than if they
just waited for things to turn around for the family and charged them interest on their missed payments.
Thankfully there is federal legislation being discussed to delay Eviction for up to two years, and another plan that would allow Banks to Foreclose on
the Mortgage, taking back full ownership of the house and the the family being able to remain in the house for that two years, but at the cost of them
losing their equity in the home. It's not the ideal situation, but it's far better of a plan than what we have now.