Woman Stops the Foreclosure of Her Home
October 28th 2008 by Kelly in Real EstateCNN reported today that a California woman wrapped a chain and lock around herself to fight to stay in her home. The woman is facing the foreclosure process and she has received a letter that tonight the bank will come and reposes her house. The woman refinanced her home 2 years ago with an adjustable rate mortgage but has since been unable to make the payments. She wants people to fight with her to stay in their homes even during hard times since the house that she is living in is where she planned to retire. The foreclosure process is always sad, even for big businesses and people that have made their livelihood from flipping houses, but it’s particularly hard to hear about when it’s a family being forced out of a home where they planned to stay indefinitely.
October 28th, 2008 at 11:56 am
It’s awful to hear about people losing their homes. I’d love to see the Bailout money doing more to help people pay mortgages. However, unless she can prove fraud, I’m on the bank’s side. She re-mortgaged and took money (i.e. a bigger loan) out of her home. And now she can’t pay it back. What about the people who’s bank deposits were part of that money she took out?
October 28th, 2008 at 2:31 pm
Yeah I’m gonna have to go with Daniel on that one. I hate hearing about that and it makes me so sad to think about everything that family is going through. You have to be super careful with loans because you know the consequences of not paying them back.