10-26-2008, 09:29 AM #1
Stranger buys foreclosed home and gives it back to homeowner
This is a nice story with a happy ending. No matter who you think
is at fault in this mortgage meltdown, there are individual stories
out there that should be heard. I'm pretty confidant the woman
in the story who lost her home wasn't a super slick financier playing
the market. I suspect she is a regular wage earner who got into
trouble by taking out a 2nd mortgage to feed her family. What a
contrast with the 100's of millions the Wall Street fat cats stole.
Could have bought a lot of these $50K houses........
10-26-2008, 08:00 PM #2
Thats amazing. It's very seldom do you see people that are so well off helping those in need. The way i look at it if you have it to give then feel good about giving. Wonder who's going to buy my house. I have to be out by november 23rd.
10-26-2008, 08:13 PM #3
10-26-2008, 08:38 PM #4
10-26-2008, 08:50 PM #5
Have you tried to negotiate with the lender??? If you can buy some time there should be some relief coming in the next few months.
10-26-2008, 09:39 PM #6
- Join Date
- Jul 2008
Times are tough in Maryland.
Here in Glen Burnie there are many houses foreclosing, and foreclosed.
I'm waaaay upside down on my house, i bought at the peak. I'm considering bailing out if it gets any worse, that will be the true american bail out; when every one just starts bailing. Four to twelve years later when credit is cleaned up i'll buy again perhaps.
Unemployment around here is getting ridiculous, many of my friends are out of work. Many of the business owner's i know have already jumped ship and gone back to working for the man.
Best of luck to ya man! Hope ya find a way to stay, or atleast some place to stay.
10-26-2008, 09:45 PM #7
10-26-2008, 09:50 PM #8
- Join Date
- Jul 2008
Fark dude that sux!
Best of luck to you too.
Guess we can see first hand how the stimulus package and corporate bailout is working out for the little guys.
10-26-2008, 10:34 PM #9
I don't get it guys. Did your mortgage reset higher, did you lose your job? What gives? Is it only because your house is worth less than what you owe (upside down)? To just bail because you're upside down is just adding to the problem and a pussy way out. If you signed on the line and agreed to the terms of payment stick by it, be a man. If you can still afford it, pay it. That's what you agreed to. The market will return. If the only reason you want to bail is because of being upside down you're a POS and only adding to the problem. Yea, go rent for the next few years and get ZERO return. Years ago people would do anything to avoid foreclosure, today it's passé, makes me sick. Of course if you lost your job and were unable to fulfill the commitments it's a different story.
My house is worth less than what I bought it for last year, but my word is worth more than that. I agreed the house was worth what I paid for it. I'm not an investor, I'm a HOME OWNER!
10-26-2008, 11:07 PM #10
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