Friends lose houses in foreclosure

Submitted by Jeff Buster on Wed, 01/09/2013 - 19:38.

A very serious topic.   My friends are out of their houses.  Middle of winter.  asking me if I can help.

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Stand your ground

  Jeff- If a house is in foreclosure, the residents should stand their ground.  There should be every attempt to force the bank to comply with better terms and if a person moves out there is no recourse.  If the County Land Bank is forcing this foreclosure, then it is another matter altogether.   Is despicable Safeguard forcing the eviction?  Call the media, call WEWS, which claims to be doing a Save the Community drive (not buying it though).

jeff we can house a few folks in our humble home

sophia honey yoga and guy -

Both situations were couples

Both situations were couples with older kids.  

In one situaton there was a death of a spouse, loss of that spouse's income, and the realization that the property value was considerably less than the mortgage outstanding.   The surviving spouse was advised to walk away.  

In the other case one of the spouses had a very serious medical issue and lost income/had big medical expenses and family couldn't keep up with the mortgage.  Their house is not underwater, but they can't get it sold in the soft real estate market.    They have a couple of months before the bank takes control.   

The common question in both situations is "what to do with our furniture and family keep sakes and the pets?"   How to keep the kids in the local school at least until graduation?   How to keep your head held up, too.  

Pretty scary that the life these people organized over years and years can be shredded apart so quickly.   

America - land of the free-fall.

Guy, thanks for your generous offer.   I will pass it on.