Comments 1 - 2 of 2 Search these comments
HydroCabron
2013 Oct 1, 10:54pm
If he's up for foreclosure, it's not his house.
How did he manage to still owe money on the property after 48 years? For 35 of those years, he enjoyed the benefit of lower property taxes than most of his neighbors.
And now, after all the unbelievable price appreciation, he couldn't sell and live out his days on the proceeds?
Is there something else here? Medical bills, maybe?
Your friend seems to be benefiting, along with the banks, from the system's hesitation to clear debts and move property on to the market. This is part of what is screwing those with the means to pay reasonable prices: the idea that people who have lived for a while in a home somehow are entitled to property, even if they've borrowed against it to a point that they can no longer handle the debt.
I don't mind being taxed to pay your friend's medical bills, but having to pay higher prices for housing because your generation is entitled to keep property they've defaulted on is an insult to the human race.
Both your friend and the bank need to mark all their assets to market, declare bankruptcy if they're insolvent, and realign their habits with their income.
elliemae
2013 Oct 2, 12:23am
He "delayed" the sale? So the saga continues, David didn't beat Goliath. He just ran between his legs where Goliath can't see him for a minute
Yesterday a dear friend of 50 years faced the prospect of his home being sold and his personal property being put on the pavement in front of his house. He was about to lose the home that he had lived in since 1965 ($8 years). With no lawyer and no money left he went back tot the court where the sale ordered had been signed. He convinced the judge to delay the sale. This is truly David defeating Goliath. He beat impossible odds. I really admire him!!!!
#housing