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When everything is gone: Witnessing evictions

Posted: Thursday, July 17, 2008 3:36 PM by Elizabeth Chuck

By Aram Roston, NBC News Producer

The idea of last night’s Nightly News story where NBC’s Chief Justice Correspondent Pete Williams accompanied a Virginia sheriff as he served eviction notices was to capture the grim moment when people are forced out of the homes they think of as their own. The homes were foreclosed, the mortgages were unpaid and it is the moment when a family's American dream is taken away. The statistics of foreclosure are staggering, and each human story is a tragedy.

The people with the unhappy assignment of enforcing the court order are often deputy sheriffs. In Virginia, I rode first with Deputy Sheriff William Cenac, of the Fairfax County Sheriff's civil enforcement division, on a foreclosure eviction. "These are working people...these are working people," he said as he drove to the house.

He says his arrival is usually greeted with shock. In a sense, he says, "At this point in your life, everything that you know to be is over, your house, your yard, whatever. It's the property of the bank and you need to leave. I don't think it’s any different than your house burning down. Everything's gone. All your things are placed on the public right of way. It's helplessness: Where are you gonna go? Where are you gonna take your family? And you are still going to work every day."

To listen to a sheriff's deputy who handles evictions is an eye opener. "It's very silent the way it is. You live in a development, even in my neighborhood, where I live. You see these people, you see them cut the grass. And then all of a sudden it’s like, ‘Hey, where'd they go?’ They move out in the middle of the night, leaving whole houses. I have three foreclosures on the street where I live.”

Cenac points out it’s a long process. The bank must petition the court for a summons, and then there is more paperwork, and more warnings. And any homeowner who is being evicted gets a 72-hour notice posted on the door, notifying him when it will happen. Many people manage to leave their homes on time. But some don't.

“One I did in the early spring," Cenac says, "I served the document to the defendant in person. I said, 'Look, this is a 3000 square-foot townhome, you probably want to move before this happens, or at least gets together BEFORE.' But the day of the execution of this order I went out the property and the defendant is still there, and I said, 'Wow, I thought you would have been gone.' And she said, 'I don't have anywhere to go. I sent my kids to live with my sister and I'm just here and I don't know what to do.”

Empty homes, changed lives
But in many cases the former owner of the home is gone by the time Cenac gets there. That's what happened this time. When we arrived at the townhome Cenac and another deputy walked in, guns drawn. The place was empty, except for some children's toys the former owner left behind.

The next week Pete Williams and I and a camera crew headed out with sheriff's deputies of Prince William County. Deputy Mark Hurd was a veteran of the eviction process, who says it gets harder as he gets older, because of the emotional trauma of evictions. "It's tough to look in somebody's face," he says on camera. "You can see the anguish in their eyes. You can see what they're going through." Deputy Hurd says when he shows up reality finally sets on the scene. "Here comes a guy wtih a gun and a uniform and he's getting ready to ask me to leave my property!"

We accompanied Hurd to a home in Manassas, Va. The man he was evicting had lived there ten years with his wife and three children. He had thought he'd retire in the three-bedroom rambler, set in the woods. He'd also had his warnings that he needed to leave but he was not ready. He cried a little in the interview, and said he felt he'd let down his family.

But the finances of this mortgage had not worked out. After refinancing the home he said, and an illness, he was stuck last year with a $4800 a month payment he could not afford. Things went downhill from there.

But the cold inevitabilty of the eviction became clear as a locksmith changed the locks.

So the man who had intended to spend his life in the home did what he could to preserve his dignity and his belongings, gathering together his possessions and bringing them outside to truck away.

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I'm sure some of the people lost their homes because they overextended themselves but some of us were living in a small home with a fixed rate for a short amount of time that changed to an adjustable rate. When it came time to refinance, because of the economy, our homes were no longer getting the appraisel needed to do the refinancing we needed to keep our payments at an affordable rate. My payment jumped $500.00 a month. I am a single mother living with one income and an extra $500.00 a month was more than I could do...lost it. Up until that time I had NEVER had even one late payment. For all those in the same situation, I'm sorry. I know how it feels.
FOR ALL YOU PEOPLE WHO SAY DONT BUY SOMETHING YOU CANT AFFORD, WELL THE SAME GOES FOR BIG CORPROATIONS DONT EXPECT MY TAX DOLLARS TO BAIL YOU OUT BECAUSE THEY WANTED TO BE GREEDY AND MAKE LOTS OF MONEY
everything goes up except wages. even if you could afford your house youhave to make other concessions. Budgets help but even then youhave to ajust sometimes. if the country can support a war they should be able tohelp the middle income if there is such a bracket. if  your in the middle income you qualify for nothing, if your in the low the govewrnm,ent subsidizes with food stamps, government housing free medical care. if you're in the upper group you great tax breaks and recession doesn't affect you either way.




True, some fall on hard times and the once affordable is now not.  But foreclosure takes months, and if you contact your mortgage company as soon as you know you can't make a payment, most times they will try to work with you to keep you from default.  It costs banks money to foreclose, and they don't make it up by reselling the property.  It's hard to have sympathy for people that won't man up and face their problems instead of ignoring them.
Wow, what a variety of heartfelt and heartLess thoughts! I can tell you, after going through a
foreclosure with a chronically ill wife, and not
well myself at about 60, and three children--It wasn't easy. And, it wasn't easy to understand the
system of advice and "assistance programs" offered
at that time by the mortgage companies and the Housing
Administration during the late nineties. With an impending darker crisis on the horiizon, I pray that
this storm will pass, regardless of the cause of the
financial failures of corporations, banks, companies,
and the ones left with the load--the families.  When the times are showing more and more persons having to make decisions to choose either their medicines or food, find their homes unaffordable also and their auto gas so high, it is impossible to leave one's neighborhood, you know something is definitely wrong.
Our homes are the last American Dream fragment; for those who want to tear these persons facing the losses
of their homes, apart, walk well, as you never know my friend when you will be tested also. I hope you are
not judged as critically as you judge in your words above.                      
Been there, Our Prayers are                        with those many losing their Homes and possessions.
I am one who lost my home.  My husband and I did it the way people think you should.  We went to college, got degrees, even an advanced degree. We  had a child when we were financially able to handle everything, went to a financial planner before buying the home, didn't have a lot of debt, got a 30-year fixed loan.  Then I was laid off my job of 18 years.  I couldn't find another one even when trying to take a huge salary cut.  Because of my experience and education, I would never think that I'd have a hard time finding a job.  And, I would have never thought that we'd lose our home, but we did.  We saved. Right now we have in the six figures in our 401K that we were/are unable to touch because we aren't old enough and the only way we could get it would be for my husband to quit his job.  

I'm here to tell you...you may not think so, but it could happen to anyone.
Fanny may / Freedy Mac, Bailed out ! The poor slug that bought the house from them ( Screwed )All the mortgage companys did was open the size of the cooky jar so people could get there hands in there further and buy homes they should not have, Normally they would not have qualified to buy such a house.
Wait a minute. I feel sorry for these people, but whose money do you think they borrowed for that mortgage? It wasn't the governements money, it was the investors' money. These people took a mortgage gamble and lost. I DID NOT take that mortgage gamble because I felt the risk was too high. So, now I'm supposed to use my tax money to bail them out of a bad risk? Where's my bail out for my credit card expenses, car loans, etc? Do you people NOT understand economics? Do you think the governement just prints more money to help out people during tough times? Get a clue! Why don't you hypocrits send these people your life savings if you feel so ashamed of the government?
Putting people out of thier homes and on the street solves no problems for anyone! It only means they need public assistance and more resources used from already hard-pressed welfare agencies and food banks and such. Polititions of both parties allowed the death of bankruptcy laws that allowed a judge to reduce payments to where families were able to keep thier homes and remain employed--it's up to us to quit being misslead by the media and our own lack of intrest to put self-serving assholes out of office and enact meaningful laws that will solve these problems. Reform campaigh laws! Limit each politition to a set amount of money--from any source-- to campaign with, and you'll eliminate the influence of special intrest groups and others who buy legislation. we don't need polittions who can "win" a popularity contest but ones who actually care about those they reoresent and lead.
Mr Bush has been saying this from day one - maybe his "GOD Bless America" banter is really just an illusion.  The truth is always hidden in plain sight, you know.  Gold (corporate profits), Oil (corporate energies), and Drugs (corporate pharmaceuticals) are truly what have been inflated during his tenure.  It certainly hasn't been the morale of 'we the people'.  What if ambiguous 'terror' was just a decoy?  
What we have here is a no-win situation. Mortgage companies and realtors have driven the price of real estate to the point of nonsense,for that fat profit.Somebody explain to me why a cracker box 3-bedroom, 1.5 bath, 1080 square foot house today costs between 350,000.00-500,000, when the same house sold for 75,000.00-85,000.00 less than 15-20 years ago. The only thing driving up the price is manipulated market profits. Lenders convince starry-eyed home buyers to buy ajustable rates mortgage, because they are easier to get into, knowing these families will lose the place when the rate goes up. But what the heck, lenders can foreclose, re-sell, make another fat commission and start the game over again. Add companies moving jobs overseas for big profits and cheap labor, what chance does the unemployed homeowner have?
Not quite like losing your home in a fire, you usually have little to no notice of a house fire.  These people know they have not made their payments, they have received certified letters, notes on their doors and still they do nothing.
My husband and I struggle each month to make our first and second mortgage payments on our family home.  If the day comes that we can't make the payment due to job loss or illness we will do what we have to find a less expensive place to live and mitigate our losses, we will not expect the government to jump in and pay our bills.  All citizens have to stop behaving as though they are entitled to anything, life throws us all challenges and we have to make adjustments, find help where we can but not expect the government to take over our lives.
I am in the Mortgage/Escrow profession and having managed a little over a year ago to be given a three day notice to vacate from an apartment that I had lived in for five years I can understand how the evicted owners feel.  I would not want to be the sheriff who is there to make sure they vacate the premises.  However, that being said, the home buyers ARE the ones who SIGNED their loan documents and in the loan documents it was FULLY disclosed what their payments would ultimately be so WHY DID THEY SIGN UP TO MAKE THE PAYMENTS?  Pure greed would be my guess.  Loan Mortgage Brokers/Lenders tried to convince the home buyers that they could refinance within one to two years of original date of purchase.
Average 1080 sq. ft 3-bdrm, 1.5 bath homes often sold for $75,000-85,000.00 about 15-20 years ago. The exact same house is now selling for $350,000.00-500,000.00. What you have is greedy lenders driving up the home costs for huge profits, selling adjustable rates; knowing full well the house will foreclose when the rates jump up. But what the heck, lenders can foreclose,start the game over and get another big, fat profit check. How do investors/lenders get away with it? There is no regulation in the real estate market monitoring unethical selling behaivor. Maybe we should start pricing tents.....
I work two jobs every day. I have faced hard times and near eviction more than once after I became a widow with a small child. I did not turn to welfare or the government. I made choices and worked my way out of it. I have never owned a home and could never afford one at age 50 still. there was no insurance money and I took 2 years to pay the funeral home for my husband's funeral. Im telling everyone this because if there is one thing I have learned in my lift it is COUNT ONLY ON YOURSELF. Dig deep, work hard, and get out of debt as best you can. I am proud to say I have put my daughter through college working my two jobs for the past 12 years. I plan on working two jobs for a while now that she is a college grad and working on a Master's degree. These people knew what was happening and what they were going to face. they should have planned appropriately and worked harder if they truly wanted to keep their homes. My adivce would be downsize and regroup and as long as your family stays together forget the past and move forward....
I work two jobs every day. I have faced hard times and near eviction more than once after I became a widow with a small child. I did not turn to welfare or the government. I made choices and worked my way out of it. I have never owned a home and could never afford one at age 50 still. there was no insurance money and I took 2 years to pay the funeral home for my husband's funeral. Im telling everyone this because if there is one thing I have learned in my lift it is COUNT ONLY ON YOURSELF. Dig deep, work hard, and get out of debt as best you can. I am proud to say I have put my daughter through college working my two jobs for the past 12 years. I plan on working two jobs for a while now that she is a college grad and working on a Master's degree. These people knew what was happening and what they were going to face. they should have planned appropriately and worked harder if they truly wanted to keep their homes. My adivce would be downsize and regroup and as long as your family stays together forget the past and move forward....
A couple years ago I was approved for a $500,000+ mortgage.  I knew I could really stretch to make the payment, but with the taxes it would be REALLY REALLY thin.  I decided against it and am still renting.  I guess I made the right decision, although I would really like my own home for my wife and kids instead of paying to live in someone else's and be at their whim to kick me out when they want.  Somehow I don't see anyone coming to "save" me when that happens or to help me buy a home.  I feel for these people, but like they say, if it is too good to be true, it probably is.  
I realize that few people think for themselves anymore. Thank your teacher's union for that. I'd like to point out to the people who are spitting mad at George Bush that he couldn't do a single thing people are blaming him for without the cooperation of Congress. All 435 reps, and 100 senators are more responsible for this mess than George W. Although the talking heads would like you to believe otherwise. And while we're at it - Barack and John have absolutely no power to deliver on any of the promises they're making to the electorate. They can propose - but Congress is the final arbiter because they control the money. Get a brain, people - you've been had by everyone in Washington, not just the "other" side.
Heart breaking.  The bottom line, tho, is that the responsibility does indeed lie with the person who has lost their home.  After all, it couldn't possibly be the fault of the greedy mortgage broker, or the real estate agent that colluded with that mortgage broker to get a loan approved that had less than a 1% chance of being repaid.  They still got their commissions and of course were able to lay the loan off to some other greedy investors BEFORE the loan was 'imminently' foreclosable.  It isn't about the property at all.  The Mortgage business is about the commissions!  The current foreclosure crisis is a perfect example of a pyramid scheme that has peaked.  The only ones to make any money on the deal are those that got there first.  The real estate agents and the mortgage brokers that used people's dreams to sucker them into investing their life savings into this evil pyramid scheme.
From what I understand of the forecloser situation 90% of these are caused by loss of income or unforeseen illnesses. Most of these had a finacial plan to pay. To say "be responsible, pay your bills" shows me a person who has not gone through difficult times. You are already bankrupt,  in character.
It's obvious that Martin Shellabarger in Madrid, Spain, is totally clueless about what goes on in the USA.  Mr. Bush has never given TRILLIONS of anything to the rich.  The wealthy in this country pick up the tab for the other 80% of the citizens.  Look around, vote to cut the entitlement programs, encourage competition in education, and watch this country prosper.  Lose weight, get fit, get in game, people!
What's really shocking to me is the lack of foresight some of these people have. If you fall on hard times, lose your job, or the interest rate on your mortgage goes up, etc... why don't you put the house on the market and get out while you still can? Having to sell your house because you can't pay for it is really unfortunate but what's worse is an eviction. Take care to protect yourself and your family while you can.
The entire 8 years that Clinton/Gore were at the helm,they did SQUAT to stop the terrorists in their blood-thirsty quest.  7 months into his job, Bush saw this country hit on 9/11.  Does anyone here remember the facts????
We've all heard plenty about the mortgage crisis, and that subprime mortgage lenders are to blame.  The irony is, the subprime mortgage industry began because, at that time, there were very few options for the person in financial difficulty.  Once you defaulted on your home loan, you went to Foreclosure.  Yes, the same banks spurred a mortgage boom the likes of which our nation has never seen, making it MUCH easier for people to get into a home, and to save the home in which they are currently living.  
But dream houses shouldn't be purchased on dreams -- they should be purchased on financial abilities.  If the banks weren't in such dire straits by figuring out ways to aid those who took advantage of the lending systems for their own personal gains, they would be able to give a little more leeway to those who had purchased their homes responsible and are now truly in need due to circumstances beyond their control, like the folks in this news story.
Why does everyone feel so sorry for the people who bought more house than they could afford?  I live in Las Vegas, where the market has crashed, and was just recently able to purchase the home of my dreams.  I have waited for years, but knew that I could not afford a $500k house on $50k a year...If we are helping those people who can't afford their home but were stupid enough to buy it with an ARM, then the rest of us who were smart about purchasing a house should get a bonus check!
For all those who say "Don't buy what you can't afford".  I hope you get hospitalized or lose your job.  Maybe then you will understand that life changes during the typical thirty-year mortgage commitment.  I trust it won't take you that long to wise up and realize the ecomomy of 2008 is crap.
No one is asking for someone to feel sorry for the them...most of the people that lost their homes were not greedy (whether they decided to live in a 3000 sq. ft home or a 1000 sq.ft....at that time...they HAD a job that could afford their living expenses....no one wakes in the morning and says, "I want to lose my job"...or "I want to get sick"...When the money stops coming in...what happens....well, no money.....using your savings and your 401K can go so far...and those are the lucky one that have those...most people even more so now....do not have a savings account.  And unfortunately, the GREEDY ONES are the banks/mortgage companies......because guess...most of the homes that are foreclosed on...are still sitting empty...the banks are NOT making any money.  IF the government had stepped and helped those families....we would have been a lot better off...but the government prefers to give trillons of dollars to other governments before our own people......history repeats itself over and over......has the economy change?  No...it is only getting worse....the mortgage companies are creating departments for bankruptcies and foreclosures....wow....now how does that help.  Oh...and the ones that automatically assumes the families are greedy...becareful...because one day, YOU can lose your job and become ill as well....and if you live in an apartment..do you think they care....they care about money even more...YOU can be REPLACED...especially if your rent is due between the 1st and the 3rd....I am sure eviction comes swift and quick..................
Why does everybody always blame the president, Yes, it is unfortunate. But you should buy with in your means. If you know you lost your job and things are going to get tough. Sell your house and downsize. THere is no way I would ever want to have a $4600. dollar house payment. I chose a small house that is not as nice, but if times get tough I should still be able to pay. If the government bailed out everybody whose chose to live above there means, why do people like me have to keep paying my house, shouldn't the goverment pay my bills too, afterall, I didn't over budget myself
Somewhere in between "live within your means" and "the government should do something" is where the answer surely lies. I agree that many have made bad choices and that is certainly their own problem. I also agree that many have fallen on hard times and that really is a shame, however I personally have nothing left to give. My budget is being stretched to its limit now. It's not a question of greed or money or even compassion as many seem to think, it's simple economics. Even if I wanted to help them I don't have the means to do so. Why don't all the people who see only the humanitarian side of this take over their neighbors mortgages for them so they don't loose their houses? What?! you can't afford to help them either? Gee, I guess you don't have much in the way of compassion after all do you.
I'm so tired of hearing it's Pres. Bush's fault.   No one takes responsiblility anymore.

I realize some people hit hard times and I do feel very sorry for them but also realize that a big part of the problem is twofold: mortgage companies doing business in a bad way and people buying houses they can't afford.    Same goes for all the people who bought a lot of nice things on the credit card and then go bankrupt.   Those of us paying as we go without new cars & big toys are angry that some people can run up their debt and just wash their hands of it.   THAT SHOULDN'T BE ALLOWED!  Again, those that hit hard times,  I am sorry that happens to people.
To all those asking for a logical answer ...
Why can't our government do anything to ride through these rough times
Sorry you may not like what you hear
BUT
Please blame ALL THOSE IDIOTS who voted for Bush / Cheney - TWICE
This duo have permanently changed the face of AMERICA and are busy helping the Iraqis and Afghans and Pakistanis and the Arabs
Building schools, housing, roads, and introducing DEMOCRACY to the Shias and Sunnis
at our expense
Who played the fiddle while America burned ?

Tighten your belts
Worse is yet to come !
While i do totally sympathize with individuals who've fallen on hard times, i recently purchased my first home.  I went through lots of credit counseling (my score is high 700s so im lucky/smart), talked with our realtor and mortage agent etc....
my point - i have a plan - i have a mortgage i can afford - not a mcmansion, i have money put away in case of emergencies (and im talking 5 didgets like you ought to have, not 3), and i didnt overextend myself in credit cards etc.  

Yes the banks should be held accountable (dropped off a cliff) for predatory lending - but where is accountablity and personal responsibility?  I was approved for a 400k house - if i bought that and "had some bad luck" and lost the house - would you feel for me like the individualsin this article?  People need to learn to appreciate what they have and what they can afford - not supersize to keep up with the jones'  - if you've noticed - the joneses have all fallen!!!!!!
I love those idiots who post that they have no compassion for these people.  "It's your own fault! Quit crying for the govt. to bail you out!"  Yet when W's brother Neil Bush got the whole country in trouble with Silverado and the Savings & Loan scandal back in the 80's, the government was right there to bail them out, and we foot the bill.  Most Americans don't realize that the govt. then turned around and sold back those same S&Ls to those same people who created the mess, for pennies on the dollar.
So for all you meat heads that voted for W twice, or think that Obama is going to provide "change", let me put it in simple terms that a child, and maybe even you, can understand.  If homeowners got the same deal that Bush's friends and family get, the government would forgive my $200k mortgage and let me buy my house back for $2000.  Gotta love those tax and spend Republicans & Democrats almost as much as the ignorant folks who vote for them.  But this is crazy Ralph Nader talk, so, never mind...  
We lost our home four years ago. Now we live in a small apartment. It's been rough but we'll have our bills paid off in about two more months. Then we start saving for another home. When you sign a contract, honor it. Including mortgages. Mr. Bush didn't make you buy a giant house you couldn't afford. Maybe it's time you people started making discipline a priority and cut back on the whining.
I was thinking the whole time I was reading these comments; Does anyone know how to spell out there anymore? This country is not only in a financial crisis, it is in an educational crisis!!
Sorry folks, these people could get a SMALL apartment and start over.  They are given months and months of notices.  $5000 a month for a mortgage payment?  Wow, that's double the average person's salary in the US.  

Just like alcoholics, some people have to hit rock bottom before they will adjust their finances and lifestyle.
It is the end of the world, so feel not surprised.
Some people are very quick to judge.  Every situation is different, and while some people did indeed bite off more than they could chew when they bought a home, others have just fallen upon hard times.  It is truly a sad commentary that so many people believe the former about everyone first.  
For those who lost their homes, I feel some sympathy that they did not educate themselves better on the perils of Adjustable rate mortgauges. For those who sit back and bad-mouth the President and blame him for the economy, gas prices, the home foreclosures, and the war, shame on you. I have spent the last 20 years serving my country on active duty, protecting your freedom and mine. You should feel blessed that you live in a country where you can openly speak your opinion. Don't complain do somthing to fix it if it's broke.
This is aweful... All you people who think you have the answers with your your smart comments telling  these people to pay the bills, don't buy a house you can't afford ect. Wait because it is people like you, that will one day get yours and see whoo will be there to support you! Where is peoples hearts these days?
Com'on people. Get over it. Bush didn't tell people to over invest, he doesn't set oil prices, it's Congress that won't allow drilling now just to try to tear down the Republican Party and regain the Democratic majority the recently lost. The man in the lead story lived in his house 10 years. His eviction wasn't a surprise or shock. It was a long time comming. He had time to adjust and didn't use it. Instead he took the re-finance route until he couldn't afford payments anymore. What did he use the money for that he got in refinancing? It's sad, but largely his own making. The people that say the Banks should just forget about the mortgage payments obviously don't have any understanding of economics. If you lend your neighbor tens of thousands of dollars and he can't pay you back in monthly payments like he agreed to are you going to tell him, "That's OK, just pay me whenever you can." When do you think you'll see that money? What do you'll live on or pay salaries with until he decides he can resume making payments again? How long do you wait?

Fiscal responsibility isn't just for Governments and Business entities. It is necessary for individuals too.
i'm a totally disabled vietnam era veteran and ibought a house after being homeless for many years. and i did't know there was a lot wrong with the house ie i replaced a hvac unit,hot water heater ,numerous plumbing problems,extensive termite damage(and active termites)chimney promblems(caused a smoke/fire damage) damage and the va would'nt give me loan i had to go it alone va inspects houses for veterans that are lucky to get a loan. which is good if you're lucky to get one.i did't know what i was getting myself into i got behind in my arm apprx 9 1/2%( due to increase in aug)    mortgage trying to do all the above repair. now i am being evicted from    the house now it has been sold at the sheriff's sale. i had to file bankruptcy to try and save it but the winter utilities of 1,300average was too much!and icould'nt i'm on a fixed income.    
no one is immune to this problem. be you rich or poor,working class or a big business owner. we may all meet that dreadful day, renters and homeowners the like! So watch your lack of compassion when speaking, and take care to understand yourselves then take a check you got me?    one love.
I read a story about how in California, people were abandoning their homes because they couldn't make the payments, then other people, I suspect some were illegal aliens, were moving in and was almost impossible to get rid of them. They would just say how they were renting the place. And, for some very strange reason, you can't ask them any questions so they live there. Different story if you're white though or maybe even black.
How about no-fault evictions of tenants? I signed my year lease at my 1 bedroom apartment ($585 monthly) where I had spent my previous 7 years. One month later I was evicted because the couple that owned my unit went bankrupt. When I had originally moved in my unit was an apartment, but my complex had been selling off units to individuals as investments and I was unaware that my situation had changed. I had to move into a more expensive apartment and pay tranfer fees and deposits all over again. I'm still financially reeling over this event and have not had contact with any representatives of the new or old owners of the old apartment other than the bankruptcy notice from a lawyer out of state. I certainly could not travel to the court proceedings and do not know the results. No fabled "Cash for Keys" here... just a guy that paid his rent & got punted out anyway. Thank goodness I'm not a family man in a big house that was full of prized possessions, that could've put me completely under!
It is complex. If you haven't been there, you don't understand. I bought a house I wasn't ready to buy because my family pressured me and that's what my spouse wanted. I've been struggling to make the payments on the house, car, utilities etc for years. Then, after losing my job, it all fell apart. Almost lost the house but working with the lender. Great - got a job, and after 8 months, it is eliminated. I would love to dump my house and start over - but guess what? Who would want to rent to me with my bad credit? And if I move to where life is more affordable, who is going to give me a mortgage after this whole mess? It is a double edged sword, and I don't want a free ride - I just want a chance. So when you pass judgement, keep in mind that it could happen to you in the blink of an eye. I don't get government assistance or try to beat the system like so many I've seen. I'm just an average person trying to make it. I've made mistakes and I've made bad choices, but guess what - I don't deserve to lose my house because I've fallen into tough times. And many of us who have fallen into this situation don't deserve to be demonized. Oh, and by the way - before the market crashed, I had over $100K of equity in my house - which I couldn't get to because my credit is bad. So I can't get to the equity that will help me improve my finances, and if I sell my house, what can I buy? It goes around, and around, and around. Life isn't fair - but you work with what you've got.
It all started with Cane and Abel.  It's all about money, how to get it, keep it and spend it. Without money you are nothing, or close to it.
my sister just fell victim to a foreclosure due to an over-inflated appraisal and her lack of financial wisdom...her dreams and hopes out-weighed her good judgement...yes, she is too blame but it doesn't take away from me still feeling badly for her circumstances...
I have no sympathy at all for them. They got sucked in by easy credit during the boom cycle, paid way 0over-inflated prices, and now that things have gone bust, they are learning a cruel lesson in economics.

If you can't afford to buy a house, rent a place. If you have to max yourself out on credit to by some flashly new SUV that sucks gas like a vacuum hose, drive an old junker that you ***own***. Wow, what a concept, no $400 car payment every month. You actually hold the title to your vehicle, how radical a notion is that. It's time for these credit junkies to 'pay the  piper.'
Whatever happened to living within your means? If you can't afford it - don't buy it.


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