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Foreclosure Stories: Weekly Round-Up

Foreclosure is an intimate concern among families. It affects their lifestyle, standard of living, and their future. It is no wonder that when people hear about foreclosure stories, they cannot help but emphasize with the evicted homeowners. There are even cases when viewers are outraged in the circumstances surrounding the eviction. Whatever the case, it is clear that foreclosure has become a big problem in American society.

In addition, aside from being a personal problem, foreclosure is also a social problem. For instance, areas that have a high foreclosure rate tend to experience a more drastic decline in home prices compared to other areas. Unoccupied homes also become a target among the homeless seeking some shelter. It destroys communities as well as the relationship among neighbors as people put their guards up. Some interesting news, stories, and developments about foreclosure are below:

Bill Shrink Guy @ Shrinkage is Good uploaded a compilation of disturbing news in his post, “10 Outrageous Foreclosure Stories.” Among the stories he compiled include one about a home that was foreclosed about the couple was scammed by Bernie Madoff. The house was turned into a party pad by a Wells-Fargo executive. There was also a story about how one woman committed suicide while another poisoned the kids.

Katie Lopez @ Valley Central posted an article titled “McAllen Seeing Increase in Foreclosures”. The revelations outlined in the article are not at all surprising. With the economic crisis still not completely resolved, more people are losing their homes. It also featured several stories about real homeowners who faced foreclosure.

If you are looking for some inspiring stories, then the blog Man vs. Debt might be the right one for you now. Adam posted an article, “How I Paid Off $15,000 in 9 Months by Selling My Stuff on Ebay”. Although the article is not exactly related to foreclosure, it might as well be. After all, the amount he raised is enough to pay off the mortgage and head off foreclosure for many households.

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Category: Mortgage

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One Response

  1. [...] This figure is quite alarming because being overdue for 2 moths is usually the initial step towards foreclosure since the amount of money necessary to keep up is beyond the capability of most families to [...]

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