Does anyone know anyone who has actually lost thier home to foreclosure?

Just curious.

Do you personally know anyone who has lost a home due to foreclosure?

Statistically speaking there should be some people on this board who have personally given a home back to the bank or who know someone who has given a home back to the bank.

[edit on 24-12-2009 by In nothing we trust]

reply to post by In nothing we trust


Yes my neighbors in each side of my house did, one at the beginning of the recession the second one 8 months ago.

If we start with a realtytrac inspection starting with Leavenworth, Kansas we will find that there are 187 foreclosures in Leavenworth.

NOw we expand the trac to the entire US and we find that there are currently 1.95 million foreclosures in the US. If we add in the number of people who are trying to sell thier homes right now the number increases to 3.16 million. The only people trying to sell thier homes right now are people who have to sell.


www.realtytrac.com...

This doesn't incude the hundreds of thousands (Millions?) of homes that went into foreclosure and were re-purchased within the last 2 years.

Now surely you all know some people.

[edit on 24-12-2009 by In nothing we trust]

I did about a year and half ago. Filed bankruptcy. Had a small business and economy hit us early. I have at least 4 friends who have given their homes back. Some just couldn't handle the new higher interest rates and knowing value had dropped so much. Some had lost job.

It's a bad feeling and hurt our marriage at first. After all sinks in everything is better since not having to struggle so hard to pay all those bills. We make sure not to live beyond our means... I have no desire to purchase a home for many years. I kinda like not being tied down and would like to move across country and out of country for few years.

I know of two who were foreclosed on and many in foreclosure.But the banks aren't moving forward with any action,they just kind of stopped.

Originally posted by genius/idoit
I know of two who were foreclosed on and many in foreclosure.But the banks aren't moving forward with any action,they just kind of stopped.

That seems to be a christmas tradition.

They shut down over christmas.

reply to post by In nothing we trust


Yes you are right, the neighbor that lost his house at the beginning of the recession back in 2007 his house was put for sale, was rented out two times and finally sold in the beginning of the year.

The second one the house has been vacated for the last 8 months.

Originally posted by zz0409
I did about a year and half ago. Filed bankruptcy. Had a small business and economy hit us early. I have at least 4 friends who have given their homes back. Some just couldn't handle the new higher interest rates and knowing value had dropped so much. Some had lost job.

zz what religion do you practice?

Another way to phrase the question: What spiritual beliefs do you hold or did you or your neighbors hold prior to bankrupcy and foreclosure.

Sorry about your hardship. I wish you the best of luck in the future.

[edit on 24-12-2009 by In nothing we trust]

Originally posted by marg6043
reply to post by In nothing we trust

 

Yes you are right, the neighbor that lost his house at the beginning of the recession back in 2007 his house was put for sale, was rented out two times and finally sold in the beginning of the year.

The second one the house has been vacated for the last 8 months.

The progressive realization seems to go like this.

Can't afford payment.

Put house up for sale.

Realize that no-one is willing to buy said house for amount needed to pay off loan.

Rent house out instead.

Realize that house can not be rented for enough to cover mortgage payment.

Put house up for sale again.

Stop paying on mortgage.

Yes,I know a family that lost their house.I could not understand how they thought they could have afforded it to begin with,so it did not surprise me when their mortgage reset to the higher rate and they could not afford it.

There are hundreds if not thousands of houses in my area that are bank owned at the moment.

yes. two of my neighbors. One was a builder who built his home. Both had lived there well over ten years (when I first moved to the neighborhood).

reply to post by In nothing we trust


Well this particular neighbor build the house 20 years earlier, he was a Vietnam vet with health related issues due to agent orange, but he fell under the government cracks and they didn't wanted to acknowledge that his failing health was related to the agent, he was been under review as he was plague with blood poisoning and kidney failure that required dialisis, he also lost the feelings on one of his arms, he lost his wife after she got tired of having to pay for health insurance for him after he became disable.

This is a sad case because I saw how a healthy looking man with everything you can wish for I mean RV as big as a mobile home, three cars, nice home, became evicted and in a nursing home until one of his grown children took care of him.

The last I knew the government finally gave him disability rights and he got money from them.

It is just a matter of time (months if I am lucky) until I become one of those statistics...

Sadly, a family of six reduced to one mid-level manager's income simply cannot survive on Long Island, New York without some kind of cooperation from the bank.... and that is simply not in the cards.... (at least not theirs).

Please accept that I ask for no advice, nor pity, but I figured that for the sake of your informal query of our user-base, you should get at least some 'hits'.

Im wondering if this Foreclosure spiral is a US only event ?

I'm in Canada , and our news , which actually reports news, have never

made mention of this.

I never heard personally of anyone losing their homes.

Originally posted by Sean48


Im wondering if this Foreclosure spiral is a US only event ?

I'm in Canada , and our news , which actually reports news, have never

made mention of this.

I never heard personally of anyone losing their homes.

Now that is interesting.

Maybe it's only happening in the US?

And maybe it's only happening to certain groups of people within the US?

I am one who has lost their home to foreclosure. There were other circumstances than those immediately assumed, and talked about on network media, I've spoken of some in my posts.
To those that are dealing with their banks themselves, they will not talk to YOU about YOUR house. You need an intermediary. There's the rub, there are so many scam artists out there who will take your money, but do nothing in your interest. Do not fall for it.

For all who need help, here is an open letter to all who wish more information:

Hi, wanted to let you know that the bank will not deal with YOU about YOUR house. My wife is a person who deals with this on a daily basis as an advocate for the homeowner.
Call my wife. You will come out of this better for the cost of a phone call. If she can't lower your mortgage payment drastically, not only mortgage payment, but interest rate as well, there is no fee.
Beware, there are more dishonest people out there who do what she does than there are honest. You will have almost no chance in finding one who will not just take your money and do nothing. My wife will ask for payment, but only after things are going your way, and then only ask that you send regularly what you can send.
Do not fall for the "law firms" that do this, or almost every other person who claims to be able to help, the percentages are WAY against finding an honest one.
My wife has helped many families and will be happy to help yours if she can. There are options for even the worst case.
Please U2U back, and we will either call you or you can call her.
BTW, we left NJ and I am now back to work in IN, living in a friend's basement. Better days are on their way.
Jay (Dogdish)

I hope that this post will help someone, but if it's against some ATS rule, please just delete it, I value my ATS membership. I have to make an offer to help, and that is my motivation for this post.

Originally posted by Dogdish

I am one who has lost their home to foreclosure.

Sorry for your loss Dog.

What is/was your spiritual belief or religion if I may ask?


[edit on 24-12-2009 by In nothing we trust]

I know a older lady who before her husband died bought her several rental homes knowing his days were numbered and hoping to provide his wife an income after he was gone...

She had to give back to the banks 6 of the eight homes... one she sold at a loss the last one she lives in...

I am unemployed and reckon I can last maybe another year - with my savings and help from the government. But I have some job interviews after Christmas so fingers crossed.
My neighbour has let out his house and is living with his parents - who fortunately live nearby. Another just lost his job as his firm is moving a lot of their work to China. Another, a high end IT salesman, has gone to work in a call centre after over 6 months unemployed.
There is another thread, on ATS, asking people about their Christmas bonuses. I'm guessing tact isn't the OPs middle name. I'm actually pretty annoyed about this.
www.abovetopsecret.com...
Good luck to all those who have lost their jobs or their homes. On the plus side, it's amazing to see how people have rallied round to help each other in my community.


[edit on 24-12-2009 by unicorn1]

[edit on 24-12-2009 by unicorn1]

reply to post by In nothing we trust


Thanks, things are looking up now, we have a "floor" over our heads, my son's in a much better school with nicer friends, and I'm no longer driving drunks and drug addicts around in a taxi. Things always work out for the best, whether it looks that way or not.
If you can't tell from the above statement, I'm a Christian.