Foreclosures everywhere!

naturelle25

I just get pissed when I see yet another foreclosure in my neighborhood. Its just another reminder that we will be cramped in our tiny townhouse for even longer b/c we would never be able to sell it. Yeah, I feel for the families where someone loses a job & can no longer pay their mortgage but when it comes to people who got in over their heads, I have little sympathy. You signed the documents clearly showing how much you would have to pay every month!

2mommiesinoh

I work in mortgage collections and you would not beliewve the sh*t I hear daily. I have sympathy for very few people....

naturelle25

2mommiesinoh:

I work in mortgage collections and you would not beliewve the sh*t I hear daily. I have sympathy for very few people....

Before I SAH, I was in Loss Mitigation for a major lender & before that I was a mortgage underwriter, so I completely understand how you feel! Im sure I come across as a little cold but not many people see the other side of things.

stef_38474

You're entitled to your opinion, but I think you're being a little judgemental of people who are going through hard times. My DH was in sales making over $100,000 a year and recently lost his job. We built a new home two years ago, we are still able to pay the mortgage, however it is difficult going from good money to unemployment wages. I don't think anyone expected the economy to hit this hard and there are alot of poeple suffering.

MrsD627

Our house was one of those that flooded on the storm of July 23-24. We had to evacuate in the middle of the night when DS was 2 weeks old before the floodwaters got in. We stayed in my mom's basement like refugees for a month, then got an apartment. And because our mortgage company is slow as hell at processing the checks from the insurance company, it's held up repairs for MONTHS. We finally couldn't keep up paying for both our apartment and house, so now our mortgage is in default. And we're probably going to have to short sale or foreclose, because we will try to sell it, but even with repairs done, who is gonna wanna buy it? And we don't feel safe moving our baby back into a house that fills with water. So yeah, now we probably won't be able to buy another house for years.

Everyone has a unique situation. Not everyone who has to foreclose is just an idiot. 

driveshorses

naturelle25:

I just get pissed when I see yet another foreclosure in my neighborhood. Its just another reminder that we will be cramped in our tiny townhouse for even longer b/c we would never be able to sell it. Yeah, I feel for the families where someone loses a job & can no longer pay their mortgage but when it comes to people who got in over their heads, I have little sympathy. You signed the documents clearly showing how much you would have to pay every month!

I agree. There are situations when something bad happens besides losing a job and that sucks, but a lot of banks are willing to work with someone, I've seen it several times. But those who buy a house that they *really* can't afford, and then lose it..no sympathy there.

Just because you're APPROVED for that much doesn't mean you can afford to pay that much! That's what budgets are for! DH and I are approved to buy over $100k more than what we can afford to pay for, but having a roof over our heads that we can afford to pay for is much better than having a sweet house that we struggle to keep.

MrsD627

driveshorses:

naturelle25:

I just get pissed when I see yet another foreclosure in my neighborhood. Its just another reminder that we will be cramped in our tiny townhouse for even longer b/c we would never be able to sell it. Yeah, I feel for the families where someone loses a job & can no longer pay their mortgage but when it comes to people who got in over their heads, I have little sympathy. You signed the documents clearly showing how much you would have to pay every month!

I agree. There are situations when something bad happens besides losing a job and that sucks, but a lot of banks are willing to work with someone, I've seen it several times. But those who buy a house that they *really* can't afford, and then lose it..no sympathy there.

Just because you're APPROVED for that much doesn't mean you can afford to pay that much! That's what budgets are for! DH and I are approved to buy over $100k more than what we can afford to pay for, but having a roof over our heads that we can afford to pay for is much better than having a sweet house that we struggle to keep.

Yeah, not always. This same dumba$$ bank that is holding up our repairs has zero clue what their other departments are doing. You'd think they could give us some kind of extension, seeing as how they're the reason that our house is still uninhabitable, but no. They regularly keep us on phone for over an hour at a time, bouncing us from department to department when we try to explain the situation. Boneheads, all of them.

ladybug8510

I agree I have no sympathy for those who got in over their heads and bought more house than they can afford.  I do have sympathy for those who had e-funds, bought a home they could afford, and then had a job loss. 

I feel like we will never own a home.  I don't know how we would save enough for a down payment and an adequate e-fund.  But I'm really happy renting when stuff breaks I don't have to worry about it!

naturelle25

stef_38474:

You're entitled to your opinion, but I think you're being a little judgemental of people who are going through hard times. My DH was in sales making over $100,000 a year and recently lost his job. We built a new home two years ago, we are still able to pay the mortgage, however it is difficult going from good money to unemployment wages. I don't think anyone expected the economy to hit this hard and there are alot of poeple suffering.

you obviously didnt read my whole post. The only people I would ever judge are people who knowingly bought a home that they couldnt afford.