How many people do you know that have lost their home?

[asdjrocky]

Or soon will?

I remember when this was a big deal. I actually remember a time in America when everyone I know wasn't losing their home or close to it. Now this no longer seems to be the case.

I know six people, SIX. Three of them are right on my street and one of those is a really good friend of mine who lives right across the street. I will miss him.

The problem is, no families are buying these homes to live in, once a family has been kicked out. They are being bought up by people with money at a steal and then rented out for a profit. The rich are getting richer, the poor, only poorer.

So, how many people do you know? Are you losing your home? Have you lost it already?

Why is no one doing anything about this?

[liberal_at_heart]

1. I know 2 people who are in danger of losing their home

[cbdo2007]

2. I don't know of any.

I just sold my home a few months ago and just bought a new home a few weeks ago.

[asdjrocky]

4. I'm glad things are going so well for you.

[cbdo2007]

15. Thanks!

[EFerrari]

3. Two in my extended family. And they're not stupid, big spenders or practicing addicts.

It's pretty grim right now. :(

[asdjrocky]

5. Yeah.

I'm in Stockton Ca, where the only business making a profit is the foreclosure sign business.

[virgogal]

6. None.

[Cleita]

Three families that I know of locally. I'm sure there are many more

that I don't know of because I don't socialize in the same circles. It's what I hear from my family.

[pitohui]

7. well too many to count, so not sure of the exact number

i spend a lot of time in las vegas, most of those who were going to lose their homes already have by this point but another friend just told me he's in trouble -- this particular guy i had no idea that he was in difficulties, i mean i knew he lost several million but i guess i just assumed there was more behind

the place is just plain overbuilt and people who bought in recent years way overpaid for their homes, so i don't know what they can do other than walk away and start over

what do you think should be done about it? the market is just priced too high for people with normal incomes, and providing price supports to people who bought at the market's peak would mean that younger people/lower income people would never be able to buy homes in future -- i'm not sure what else there is to be done, other than what already is being done, such as bank bail-outs, tax benefits/breaks to new home buyers etc

the price of these homes simply has to come down, but the people who bought a $130,000 house for $600,000 in 2004 are going to lose no matter what, hell, most of them already have

[SoCalDem]

69. Overbuilt/ oversized/ overpriced

that sums it up ..

People used to do just fine in "normal" sized homes, but after the '80s' everyone suddenly HAD to get as close to the "Dallas-Dynasty" model of life as possible.

Builders happily obliged, and rampant speculation led to hyper-inflated priced homes.

There used to be three (at least) tiers of housing..

really old ones that were too cheap ( & worn out) to sell and owned outright for ages...those became rentals for the youngsters moving out of Mom & Dad's place. The rents were so low that young folks could easily start a "house savings account", and after 5-6 years, they had a down payment.

2-3 bedroom small, older homes that young families moved OUT of, when they needed a bigger home/yard for their growing families... these were sort of fixed up, and just the ideal homes for the younger ones moving into buying for the first time.

the "dream" house.. the home that people moved UP to, and stayed in until they retired or died.. this was the big house with the fireplace, the great yard, the pool, the 2-3 car garage, the hardwood floors, the killer-kitchen & baths..

these three types cycled very nicely until the building boom of the 80's//

after that time, EVERYONE with a pulse "needed" the dream house ASAP..with or without the money needed to pay for it, keep it up or to even pay the taxes for it.

the "beginner-rental" houses were suddenly worth more torn down & the land sold for spec houses...and once there were no more "cheap rental homes", the next step up in housing prices skyrocketed ..

People were faced with paying high rents for a pretty icky place, or putting little or nothing down, and having their dream house right now.. ...More demand..higher prices..and for too many people, they could not keep up..

[BR_Parkway]

71. Wonder what would have happened if we'd taken the stimulus money

paid down all these loans to realistic balances and recovered the money from the banks that caused the problems in the first place

[PSzymeczek]

8. We came close

2 and a half years ago. Managed to sell it for appraised value instead. I had lost my job and our income went down by two-thirds.

[mrs_p]

9. my mother

she now lives in my house with my grams while i am out of state for school.

[Mind_your_head]

10. count Me in as one you know *soon*..... eom

[asdjrocky]

17. Hang on.

So sorry to hear this.

[Mind_your_head]

22. I'm 'hanging'on' as best I can.....

don't know how much longer I can last. I'm hoping for the *best*, planning for the worst ......

:-(

[asdjrocky]

24. You know, I have to say I feel so stupid saying "hang on."

It's just like when my friend tells me he can no longer live across the street from me, I just don't know what to say.

The best I can do is say my thoughts are with you and I'll hope for the best for you as well.

[Walk away]

11. I have come very close to losing mine and am not out of the woods yet.

The recession and an accident decimated my once successful business. Every day is a struggle and when my clients lose their jobs it's horrible for the both of us.

My issues are the economy and health insurance not the mortgage I used to be able to pay without a problem.

[EFerrari]

27. My mother is in the same position. She's in her seventies.

It's unreal. She saw everything she worked for in the last forty years just *vanish*.

[glinda]

38. Awful! My brother and his wife might loose theirs and my parents are facing huge medical

bills that might eventually force them into a bad situation.

[Walk away]

50. I am so sorry for your Mom. I am hoping I can still pull out of it.

Every time one of my clients gets a boost then I get work so I am rooting for everyone to get ahead. Let's hope for the best for your Mom too.

[KILL THE WISE ONE]

12. just myself, 14 months ago

balance on mortgage was 480K, bank sold it for 280.
but they could not talk to me or my lawyer, about a principal reduction.

[Lorien]

14. I'm so sorry to hear that

I still don't understand why the banks won't drop the principle to the sale amount instead. Selling it only cost them more-and took away your home. They just keep getting away with it!

[asdjrocky]

16. So sorry.

That's what they seem to be doing. All the houses around me sold for far less than the principal.

It's like robbery.

[Walk away]

19. Heartbreaking. ...n/t

[grantcart]

59. 3 years ago, had a medical problem lost my $ 200k job.

We had a modest condo but couldn't keep up the payments, we sold just before foreclosure came.

[Lorien]

13. Three so far

two in California and one in Ohio.

[dysfunctional press]

18. none, yet.

one person two houses over lost his- but i don't 'know' him...i just know who he is.

i have one friend who may be perilously close- but he's playing his cards pretty close to his chest.

[flvegan]

20. Thousands, just in Florida. Let me explain.

No, I don't "know" them. But I feel like I do. I'm in the title insurance industry, and I personally look at the title (for either underwriting REO properties or in producing title opinion on short sales, deeds-in-lieu, etc) that examiners bring to me.

I check out the search/exam. I see the Warranty Deed and purchase money mortgage in 1992. Happy family in a new home. Ah, there's the refi in 2003. The Notice of Commencement for the new roof and nursery filed right after that. Family is expecting! Then there's the Lis Pendens (public records notice of foreclosure) filed 3 months ago. Uh oh. Something's gone wrong. Name search? 20 years back. All clear until...oh, dear. I see that both the husband and wife have been sued by creditors a number of times in 2007 and 2008. Federal Tax Liens filed in 2008. There it is...Hospital Claim of Lien in late 2006. Someone got sick/hurt to the tune of...Jesus...$340,000.00 in hospital fees and costs!

Seriously, I see this every single day. I make recommendations as I can about how to workaround the issues and make the loan perform. Doesn't really matter to the heartless. Sometimes, because of the public records and what I do, I likely know more about the negative parts of their lives than relatives and co-workers, so I feel like I "know" them. In an almost sick, voyeuristic way I've seen the shit that they've been through.

I see how America is broken in this way, and I'm reminded of it all the time.

That sucks.

[asdjrocky]

21. Man flvegan.

How painful is that to go through on a daily basis?

You are seeing it in a unique way that most don't. Thanks for the education.

[rufus dog]

23. Hmm

Neighbor across the street, next door neighbor, (he was a douchebag who thought FDR prolonged the depression and Obama was the anti christ so I didn't feel one fucking bit of sorrow for his ass getting kicked out. There were a lot of other factors like he didn't work for years and kept taking out seconds against his house, didn't mow his yard... it was below him when he couldn't afford to pay the landscapers/gardeners/illegals to mow his yard, and when I offered to re-screen his window, which a neighbor was complaining about, he told me sure, but come back later because he was too busy at the time) and my sister.

[niyad]

25. I know two in my immediate circle, and several more I have heard about who are friends of friends.

it is beyond disgusting.

[InkAddict]

26. After saving it twice, Countrywide and FIL won the the last round

aided and abetted by the banksters who facilitated the mergers, off-shoring, outsourcing, reorgs, and credit FUBARS that concurrently ended millions of Americans' employment in manufacturing, IT, and service and also by the high cost of providing for the care of an elderly parent w/terminal illness.

OUTCOME: My feathered nest was STOLEN.

FIL is dead and is hopefully in a better place.

Here's the on-going status: Unemployment rate for the last year in this household is officially 66.6%: the oldest(62 yo male IT Bus. Systems Analyst) and the youngest(30 yo female - new grad w/BS sheepskin from OSU w/work experience both in and out of her field of study) with the remaining 33.3% beung underemployed and ineligible for benefits, i.e., healthcare (59 yo female w/10 year old Assoc in HIM)

Bitterness is not improving!

(Hearts would help...hint, hint LOL - Hey, the psychologists all agree - ask for what you need)

[proud2BlibKansan]

28. Four

One was a homeowner and the others were renters whose homes were foreclosed when the landlord didn't pay the mortgage.

[rufus dog]

36. I am sure those other three were renters who lived in homes...

bought by people who got the other houses by the Carter Community Reinvestment Act!:sarcasm: :sarcasm:

And my comment is not to make light of peoples misfortunes, only to call out the BS that it was caused by ACORN and Carter.

Also the renters can get totally screwed, they make the monthly payments and then get tossed to the curb through no fault of their own.

[proud2BlibKansan]

44. Actually there is a story behind this

http://journals.democraticunderground.com/proud2BlibKansan/98

[annm4peace]

29. 4 people

only two fought back.

People must google to find others who are fighting back and if there are local groups fighting back.

Politicians and legislation ins moving way to slow.

You must join with others to fight back.

Google Rosemary Williams + foreclosure and Leslie Parks + foreclosure

to get some creative ideas

[asdjrocky]

55. Not enough people are fighting back.

I'm trying to get my neighbor across the street to let me organize for them, but they are determined to take their beating and move on.

It's just so sad.

[Donnachaidh]

30. renters are being devastated too.

I live in a nice area and a gated complex. We've been here several years and NEVER saw any problems until the last year. Then we started noticing the uhaul trucks rolling up in the middle of the night, for the renters who were skipping on the rental agreement. This started happening quite a bit.

But the one thing we NEVER saw was a real eviction from this complex -- until this past year. "Real Eviction" meaning locking the tenant out with the sheriff involved and all their possessions thrown on the curb outside the fence at the entrance. That's happened 3 times in the last 12 months.

It NEVER happened here. On the other side of town, yes - but not here. One of the evicted was a young woman who had been called out of town because her mother was extremely ill. And she arrives home to find her stuff on the curb.

Renters aren't getting a pass on the economy, either.

[murielm99]

31. My brother is one.

They could not afford to pay two mortgages any more. I think they were duped into taking the second one to pay off bills.

My cousin and her husband. He lost his job and then had a stroke while still in his fifties. They could not pay for the house on her income alone.

I am sure their stories are typical. That does not make me callous, just because it has not happened to me. What are we going to do about this? I have no answers.

[emilyg]

32. 3 in my area.

[earthboundmisfit]

33. There are few worse feelings than having to tell your child that you're losing your home.

It does something to you that doesn't ever really go away. And you know that, even as resilient as kids are, they won't ever forget it either.

[asdjrocky]

52. You know-

What you said made me think. Maybe they shouldn't forget. Perhaps they'll know, like maybe we did not know, that there is no good reason to trust a banker.

Maybe our children will be wiser for all of this.

[earthboundmisfit]

72. I think you're right

My kids experienced with me the discrimination I went through at work, subsequent job loss and litigation against a powerful ex-employer, all the subsequent things we went through, including losing our house (just happened to have a predatory lender on top of everything else, but I'd been keeping payments up till the job loss)... I tried not to whine, or make it look like I was making excuses for things being what they were, but didn't make up fairytales so they wouldn't know the truth, either.
My kids do have a profound sense of justice as young adults. They learned one thing overall and through it all: you can lose your house, but you don't lose your HOME, because "Home" is the love of your family.

[hfojvt]

34. you mean on the internet or in real life?

I don't know anybody who has lost a home.

Of course, I don't get out much.

[HillbillyBob]

35. My heart goes out to all losing their homes.

I have been hiv+ for 28 years, I have been sick and lost everything several times.
I have watched as my friends died and their partners got tossed out of their homes by the 'real family'. Some committed suicide rather than live on the streets.
I have lived on the street 2 x, my partners job got outsourced and down sized sevral times we were 2 minutes from homeless again.

I have talked and talked about this going to happen since runny rayguns killing federal mental health hospitals and talk of piratizing and de regulation of literally every safety net. I was insulted by folks saying that I was only doom and gloom.

I was a fully trained (almost) air traffic controller who got outed by a jealous not boyfriend, whom I wanted nothing to do with so he told superior officers in the navy.
Another felon (murdered his bf in a cocaine rage) gave a list of names of folk who might be gay in a plea bargain. He was a casual acquaintance gave my name to the investigators as maybe gay.
This was when runnyraygun was killing the civilian air traffic union.

What America is going through now is very similar in result to what me and my gay friends have been dealing with for 2-3 decades with no real sympathy from the straight folks. AIDS and discrimination is not fun.

In 2000 we were eyewitness to the theft by ballot shredding in ft laud. I mean we saw jebbie's henchmen putting ballots in shredders in the parking lot of our polling place in ft laud. We had strange threatening phone calls and emails and our home ransacked(w/o warrant or notice, we were not home, we were told my neighbors that it was black crown vickies with fed tags and men in black/dark suits who went through our house while we wer not home because we suspect that we were still saying in 2005 that bush stole the presidency.

As much as I hate sounding like a conspiracy person, it seems to me that all of this is to disrupt American life , destroy the dream and a big F U to the citizens.
Knock out our homes, jobs etc and we can be guided to take the loss of our rights and dreams for the so called security of being dominated by corpses. Then again I could be totally wrong and its just the total break down of our society and the hegemony of the wealthy over us have little or have nots.
We spoke out , we were ostracised by folks who said we lied, we then lost our jobs and ended up renting a house that was way below living standards. The plumbing worked..sort of, but no heat, windows busted, flooded basement, we were just above living under a bridge we did not have enough to eat. What really pissed me off was the bootstrap speeches and the 'you can do it if you really have balls'.

Well we did, by really reeling in on what we would spend $ on, partner got a job doing the same thing he was doing and took 45% pay cut, which is really 75% less than when we were both working.

We bought a house at the height of the bubble, but got in cheap because we planned and said that we want as cheap as possible. It was an abandoned home on 9 acres.
Nice place sort of, it still needs lots of work to make it right.
It is larger than we need, but we forsaw that some relatives or friends might need a place to be. At the height of the bubble this place was undervalued..I mean the tax appraisal was 110,000 but we bought for 70,000 it needs lots of work, but there is room for food gardens and orchards and a few extra folks who really need a place to be.

[Vidar]

37. Ten, five of whom I took in for several months.to two years.

[Lugnut]

39. Thankfully, none.

My circle of friends and nearby neighbors consist of older folks who've owned their homes free and clear for many years. Family members who have mortgaged homes are health care professionals who are in next to no danger of losing their jobs. My heart aches for those whose lives have been shattered.

[JDPriestly]

40. I know at least three. I may know more but not realize that they have lost or are

losing their homes. I think I know a couple of more people who may be about to lose their homes.

I know a lot of people who have lost their jobs. The two problems go hand in hand.

[FedUpWithIt All]

41. 3 n/t

[Greyhound]

42. You answered your own question; "The rich are getting richer, the poor, only poorer"

That's the how and the why of our so-called financial system.

[nonconformist]

43. We nearly lost ours a couple of years ago.

I can't even express how stressful that was. Long story short, we didn't, but it was literally right down to the last minute.

Other than ourselves, nobody that I know of for sure. I say that because I suspect a couple of people I know socially have and one is going to soon, but they're just acting like they're selling. Makes you wonder how many people you know that have but aren't telling anyone. I know if we would have lost ours, I wouldn't have told anyone but close family. It's embarrassing, even if it was beyond your control.

[xiamiam]

45. me..dozens of others ..nt

[lukasahero]

46. None but we helped a friend keep theirs

And I know several people who have been out of work for extended periods of time - I don't know how they're making it.

[blondeatlast]

47. Four responsible, mature families so far--and if my ex's and my home doesn't short sell soon,

five responsible, mature families. We even have a fixed-rate mortgage. The divorce my ex wants is the reason we're selling; I don't want to be burdened with the place.

[xiamiam]

49. short sales are making up the bulk of sales right now..nt

[NNN0LHI]

48. Two in my subdivision

And one of the owners got a valid purchase offer for what he had paid for it a few years before and turned it down because he would have been on the hook for the realtor fee before he lost it.

Don

[sinkingfeeling]

51. None.

[Echo In Light]

53. Zero. But most we know are like us: working poor who rent

[Gormy Cuss]

54. Thanks for sharing this. You live in Ground Zero for the meltdown.

I don't know anyone who is in foreclosure right now. There was one house on my block-long street that went into foreclosure two years ago and one that was sold because of the owners' debt. In my area there have been very few foreclosures in part because it's an old neighborhood. There are new construction houses on an infill lot that haven't sold in 18 months.

Most of my friends and relatives either are renting or have low mortgage debt after years of paying it off. I can think of only one friend who is in a precarious position.

[Fire_Medic_Dave]

56. None.

The economy in my state hasn't taken a very big hit though.

[tammywammy]

57. None n/t

[AngryAmish]

58. -0-

.

[Me.]

60. K & R

[JoeyT]

61. Five

that I know personally. A few more in extended family and friends of friends.
All five lost their jobs and lost their houses. All had good credit ratings and good jobs right up until everything went to hell.
None of them lived lavish lifestyles. They just wanted to own their own home. After all, they've been told for years that renting was stupid. "You could be paying a mortgage for only a little more than you pay in rent, and at the end of it you own your home."
None of their banks were willing to work with them at all. I wouldn't bet on any of them voting for Democrats (or at all) again, either.

[Neecy]

62. Two that I know of

My best friend had her house put up for sale yesterday. Both she and her partner were laid off last year and they couldn't stay afloat.

I own a couple of rental properties and offered them free housing until they can get back on their feet. But that's a cross-country move and they can't even afford that.

[branders seine]

63. easily 50 students in the last year

9 households of friends

[kiranon]

64. About 15 families. n/t

[Juche]

65. None, but I don't know many people

I remember Elizabeth Warren saying more parents will declare bankruptcy each year than get divorced. But nobody knows about the bankruptcies because people hide it.

I'm sure several people I know are losing their homes. But they didn't tell me.

[CrispyQ]

66. None.

But I know a lot of people living on the edge. They are one job loss or health crisis away from losing everything they've worked for over the years. My sister & her husband now owe more on their house than it's worth. Sadly, they would be even if they hadn't refinanced a few years ago & pulled out their little bit of equity. Now that equity is spent, mostly on frivolous items, their property value has declined & they owe more than the house is worth. They are fortunate that they didn't have much equity, so the difference is only about $15k.

[SoCalDem]

67. 5..n/t

[Edweird]

68. 1. Me.

[butterfly77]

70. They are being bought by..

People from other countries..

[slackmaster]

73. None, and I know one who bought his dream (and first) home at 42 at a foreclosure sale

I know a few people who have been out of work for almost two years, but they have either a working spouse or a chunk of money to live on.

Why is no one doing anything about this?

If I knew someone who was in danger of losing his or her home, I'd help out any way I could.

[mdmc]

74. one friend lost their house

[KittyWampus]

75. none, but I do know several who are hanging on by a thread. Municipalities should help homeowners

with basements or attics install safe apartment set-ups to rent out.

Those with extra space can more easily pay mortgages and those who can't keep up the house payments get to stay in the neighborhood in a safe apartment.