Is Foreclosure for You?

Wahhhhh....She makes me want to throw up. There is nothing unusual about a whining person that spent more than they can afford and can't pay back the money. She couldn't afford the condo when she bought it. Now she is blaming it on losing her payroll admin job. Must be easy to be a payroll admin person if not understanding money is ok. Tell this loser to put on her big girl underwear and suck it up. Can you say a well deserved bankruptcy is in her futrure? Maybe we should also feel sorry for the people who bought LARGE SIZE suv's they can't afford, or travel trailers they can't afford, or big screen tv's they can't afford. I have zero sympathy for these people. They bragged about buying these things in the beginning and now whine about not being able to pay the piper...

Are we suppose to feel sorry for this whining "OVER SPENDER". You would think a payroll admin person would have a enough substance in her brains to figure out if she was being taken to the cleaners with the closing costs and whether or not the taxes and insurance were included in her monthly mortgage payment. She sounds like someone who really didn't care to find out the answers to any of these questions...ALL SHE WANTED WAS THE FLORIDA CONDO. Who cares. She is just another IDIOT that buys what she can't afford and then whines and cries about it when she is about to lose it. IT'S HER FAULT...NOT ANYONE ELSES. Take responsibility for your idiotic financial moves.

Actually, - here's an even simpler approach:
Live within your means. WHO needed a $229,000 CONDO anyhow? Sheesh... I saved for most of a decade and a half to buy my little hoouse cash. My credit is great, but my- and I cook (practically) every meal right here in the kitchen which came with the house I bought. My fellow Americans are beginning to act as though they should be guaranteed to be able to live over and above a reasonable level of comfort by Gawd-given right. We aren't. We have been given the opportunity to WORK our way to such levels, not to achieve them simply by the waving of a little piece of plastic.
I feel NO compassion for this woman. She should have been a little more frugal in the 1st place. Sorry it happened to her, - but that's the drill.
Cheers!

Two years ago, the lending companies were actually, telemarketing people to do an equity loan... My husband and I wanted to pay down the c.c. and high int. so, much to my hesitatnce we did it... That was the worst decision we ever did.... now my mortgage is going up 200.00 a month and here in florida the insurance problem I went from 600.00 yr to 3800yr, My mortgage was bought out the first month from freemont loans to A;merica's Servicing Company which has done absolutely nothing for me other than to tell me if I dont get current they will go into default status with me///// For 15 years I was never late once on a mortgage payment and now I am always one month away from default.... I call them all the time to let them know the circumstance, my husband got hurt over the summer and my job closed down.... add insult to injury we were never told by the funding company until closing docs at closing that it was a two year deal and refinance after two years you will have no problems????? yeah, as long as you are never late>>> we are now... so, If anyone out there knows of any companies both public or private that could help us save our home of 17 years... would appreciate some advice on where to turn... cause the banks dont care!!!!

This is simple. Not knowing her spending habits but going by the "norm" - here's what I'd say needs to be done: Cancel the cable. Lose all cell phones but a pay-as-you-go for emergencies. NO eating out, drive through, ordering out. If making payments, SELL the car and buy a used one. Don't even LOOK at a mall or shop anywhere but K mart or Aldi's. Goodwill has nice clothes for cheap. CUT UP the credit cards. Voila!

Oh yeah, by the way! For all those feeling so sorry do not stop there, send her your money so she can pay her debt off. Do not just talk the talk, but walk the walk!!

Hi my name is Dwight, I am a realtor in Minneapolis, we are seeing the same problems. I work with short sale, although it is a look of paper work, if the owner can show a hardship and get a offer that banks my consider a short sale. This would allow the owner to get a full settlement of the loan and their would be no deficiency Judgment against the owner, the only other thing is possible capital gains that the IRS would view .

I love this stuff. Please let everyone of those people that have bitten off more than they could chew end up like that. I feel bad for someone that had unexpected medical issues or such but I did not buy my first house until I was 35. If I lost my job at the time I could have gone to Burger King and still made enough to pay the mortgage. Now I look at what is going on in Fl. and love it. I almost bought a condo there 2.5 years ago and decidedd not to as it was to overheated. Now I look at the same condos and they are down from 340,000 to 209,000. I love it. One more year and I will be able to pick one up for about 175,000 which is exactly where the price should have been to start with. Good for the flippers that took it where the sun doesn't shine. Buying opp for me. Let the sky keep falling! I need a vacation home now that my primary res. is paid off.

xxxoo

Get a life, grow up, deal with your own problems.

The real problem is CHEAP MONEY. The Feds issuing excess cash (liquidity) causes inflation and encourages people do buy what they cannot afford and businesses to go on an stop and go expansion cycle. A housing price crash is a good thing for all those frozen out of "madness" housing markets by inflated prices. However the Feds are at it again trying to please their friends on Wall Street by printing money. When there is a credit crisis, rates should increase, rewarding savers, and tight credit only going to those who can really afford it. The result of this cheap money foolish policy is a fall in the dollar, inflation (and they must include food and energy even as a rolling average) , and eventually a realization that stocks, houses and pretty much everything else has been overpriced by this cheap money policy. In the end the government will ensure the ants are forced to feed the grasshoppers, but for many it will be too late.

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What if your mortgage company won't work with you. I had that happen and now my credit is in the dumpster. I have been depressed ever since as well. I wasn't even that far behind on my payments to begin with. I was trying to refinacne and spent money for an estimate and then got turned down. That was in July and the mortgage company sold my house in January. I had made payments to catch up but they took the money and proceeded with the foreclosure sale. Don't use OCWEN!!!

What if your mortgage company won't work with you. I had that happen and now my credit is in the dumpster. I have been depressed ever since as well. I wasn't even that far behind on my payments to begin with. I was trying to refinacne and spent money for an estimate and then got turned down. That was in July and the mortgage company sold my house in January. I had made payments to catch up but they took the money and proceeded with the foreclosure sale. Don't use OCWEN!!!

Bottom line America???live within your means or better yet???live below your means

The dominos have begun to tumble and will not stop until they have run their course???

to jamespresto:your comments are extremely harsh and rude for this person, and not constructive at all. Who made you holier than thou? Do you know of her situation in her life and any circumstances that would cause her to receive a high interest rate? She may have gone through a nasty divorce from a jerk like I did and get totally screwed out of money in the divorce proceedings like I did...$20000 to be exact! Things happen in life...it doesn't make her an idiot, it doesn't mean she doesn't care about her finances...so maybe you shouldn't be so sure about your "facts" when you don't have any of your own facts to back it up! She didn't say she wanted anyone to take care of this for her...she wanted suggestions, not criticisms or harsh comments. And if it isn't that difficult, then is everyone an idiot who is going through foreclosure this year because foreclosure rates are at an all time high! So maybe you should just keep your comments to yourself!!!

I lost a house I 'owned' for over 18 years. Made the mistake of taking out a 2nd mortgage to pay off medical bills and credit cards. Lost my health and my job. The 2nd mortgage holder bought the first mortgage and I was forceably evicted - but not before I was taken to court and ALL my savings taken, my investments taken and then anything of value in my home was taken during the 'eviction' (they literally bust down the door and throw all your stuff out on the curb). There is no way to stop this process once it starts! THEN, they sell your home at auction and IF THE SALE PRICE DOES NOT COVER what you owe - they take you back to court to garnish your wages. You will pay all your mortgage one way or another. AND, if they auction your house for MORE THAN WHAT YOU OWED you pay fees and then TAXES on the 'profits' of the sale.
There is absolutely no way to come out ahead by 'letting it go' back to the mortgage holder.
FIGHT IT IN COURT if possible - to get your payments and interest rate to reasonable levels.
If you choose not to stay, sell the house yourself. Get everything you can for it and dont trust anyone else will sell it in your best interest.
Everyone is out for profits and the homeowner is stuck in the middle!!!!!