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Are you or someone you know losing their house to foreclosure?


Asked by tasches at 2:25 PM on Jul. 8, 2010 in Money & Work

Level 48 (298,202 Credits)
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Answers (9)
  • We did. Long story short... Moved to from MA to TX (job transfer), put house up for sale, remained on the market for 1.5 years, attempted to rent it out to keep up payments, renters trashed the place, attempted to short-sale but bank refused all offers, foreclosed after 2 years. Was the beginning of the market crash. Worst experience EVER! The bank didn't care... They got their bailout money from Obama, that's why they wouldn't accept any short-sale offers. Greedy banks :-(

    Answer by kenzie07 at 4:17 PM on Jul. 8, 2010

  • People I know have, yes. I am tempted to deed in lieu ours back to the bank. It's worth 2/3 less than we paid for it right now and we outgrew it years ago. Bought as a starter home with one child now three are in it and we are on top of each other.

    Answer by jamesonjustines at 2:27 PM on Jul. 8, 2010

  • Yup.

    Answer by CrazedMomof2 at 2:31 PM on Jul. 8, 2010

  • yup- we let it go and filed bankruptcy

    Answer by charlotsomtimes at 2:38 PM on Jul. 8, 2010

  • yes. someone close to me.

    Answer by Preggydyke at 2:53 PM on Jul. 8, 2010

  • My inlaws lost their's a few years ago.

    Answer by My3LittleGirls at 3:10 PM on Jul. 8, 2010

  • Don't know anyone.

    Answer by musicmom08 at 8:22 PM on Jul. 8, 2010

  • My uncle and his family had their house foreclosed on back in 2009, but the bank didn't evict them until May of this year.

    Answer by Journey311 at 10:55 PM on Jul. 8, 2010

  • Yes. Friends of our lost their home last year after he lost his job. This year, the neighbors have lost theirs and have to be out in less than 4 months after living there for as long as I can remember. There are notices every day in our local papers of people that are losing their homes due to defaulting on their mortgages.

    Answer by michiganmom116 at 8:46 AM on Jul. 9, 2010

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