Family Takes Unusual Step to Avoid Foreclosure
By Mark Geary, Reporter
By
Mark Geary
Story Created:
Jan 9, 2008 at 9:30 PM CDT
Story Updated:
Jan 10, 2008 at 2:53 PM CDT
CEDAR RAPIDS -- Around the country, people are losing their homes to lenders. But one local family's determined not to let that happen.
A community is rallying together to help a family that has fallen behind on its mortgage payments. This might be the family's last option.
The family is facing foreclosure on their Cedar Rapids home. They've all moved to Anamosa to a more affordable house, but their Cedar Rapids home is still on the market.
Now, the family is taking unusual steps to raise money to keep themselves out of foreclosure.
When Doug Johnston got laid off, the family missed a few mortgage payments.
The mortgage company fined them, and their payment doubled.
Next week, the family plans to auction almost every item they own so they can avoid foreclosure.
"Basically all we've got until we can sell the house," Johnston said.
An antique sewing machine and a wood burning stove are just a few of the items for sale.
“This is kind of the last hope we have," Johnston said.
Johnston's wife and two kids have also struggled with this situation.
"A lot of things we haven't been able to do that we normally did. A lot of opportunities that we've had to pass up on for our kids...things they wanted to do through school," Johnston said.
The family's realtor says she's seen a lot of people with the same problems.
"I think a lot of it has to do with the shoddy mortgage companies out there that went and told people false hopes and false dreams," Warren Wortman Realtor Debra Henson said.
Johnston says he's grateful people in Anamosa are helping organize the auction.
"It's all come really fast and totally unexpected," Johnston said.
The ultimate goal is to raise enough money to make a few more payments while the family waits for someone to buy their house.
The city assessed the Johnston's home at $96,000, but the family is selling it for $85,000.
The auction will be Wednesday night (January 16th) at the Lawrence Community Center in Anamosa. It starts at 5:30 p.m.
If you'd like information about the Johnston family's home, contact realtor Debra Henson -- 319.480.2700. The house is located at 1402 1st Ave. NW.
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Friday, Jan 11 at 9:19 PM Mr Employment wrote ...
No jobs!!??You may have to work weekend or crappy hours but there is always work available.I was laid of in 2002 and went from $20 to $10 per hour.I worked hard and built myself back up.Thanks to a savings account and not living above my means I was able to make it.By working lower jobs I built up contacts and I am know doing very well once again.
Flag for moderationFriday, Jan 11 at 9:10 PM Kevin wrote ...
I dont know these peoples whole story so I dont judge them.But, how mant people run there credit cards up, take out a loan, and run them up again.There is a payday loan place on every corner.People need to educate themselves and learn you cant have everything you want.If the gov bails these people out what is that saying to us responsible people?Become financially responsible and teach your kids the same.Who knows, maybe in a few years you will be one of those rich people we all complain about!!
Flag for moderationFriday, Jan 11 at 9:06 PM To Jobs Everywhere wrote ...
Are you going to pay the remaining balance to support my children and to pay my utilities, not to metion my house is a 4 story carriage house. Try to heat that without going over 200 a month. So no McDonalds won't work, and not only that there isn't one in my town or near it. Thanx for the insight though:)
Flag for moderationFriday, Jan 11 at 4:33 PM Know the whole story. wrote ...
I know that if any of you were down on your luck or just needed a helping hand even if it got in the way of what he was doing. Not one person on here even knows Doug, do you think an entire community would be coming together for someone if they hadn't exhausted every option or touched so many people that without hesitation they would all come together for him and his family. Before you start passing judgement against him for the position they are in, ask yourself, could you do it?
Flag for moderationFriday, Jan 11 at 4:29 PM Know the FACTS wrote ...
I am seeing all kinds of remarks on here about how just because he was laid off he burried his head in the sand and hid. About how he should accept the job he has and how he is just giving up. How many of you people writing have ever met Doug Johnston. I know him. I know that he works 3 Jobs to keep things going. I know that the Mortgage company completely doubled his mortgage from the affordable to the un-affordable.
Flag for moderationFriday, Jan 11 at 1:46 PM Jobs Everywhere wrote ...
I don't know how anyone if financial trouble can be picky about the type of job they find. It may not the be the most glamorous of jobs but there are jobs out there to be had. I see that McDonalds is hiring at $8/hr, you can NET approximately $1000/month working full time. I know that it's not the most rewarding job in the world but it will make a ~$800/month mortgage payment (the approximate payment on a $90,000 house) At least you can survive until the house sells, or else, rent it out!
Flag for moderationFriday, Jan 11 at 1:08 PM Doug wrote ...
Four more years, four more years!
Flag for moderationFriday, Jan 11 at 12:39 PM Houses are NOT Selling in CR... wrote ...
Houses are NOT selling in Cedar Rapids....the recession is already here. Anyone who tells you different has a vested interest in a sale. They also do not have your best interest at heart. Ask yourself...where are the JOBS that allow people to buy houses? If you know of any high paying job openings in Cedar Rapids, then list the employer. Working at McDonalds does not allow anyone to buy a house in their lifetime.
Flag for moderationFriday, Jan 11 at 10:25 AM Also uprooted wrote ...
My husband and I lost our house. We were lucky enough to be able to move in with family. We tried selling our house (valued at $98,500) and the only bid that we got was for $72,000. I am trying to feel sorry for these people, but my husband is the only one working, I have tried repeatedly to gain employment. There just aren't any decent paying jobs left. It doesn't make sense to me to take a job that is going to pay me barely enough to cover my fuel to and from work every day.
Flag for moderationFriday, Jan 11 at 8:48 AM Everyone is so critical wrote ...
We all make mistakes or have occasional hardships. Leave them alone. Quit believing the media hype about the CR market. Houses are still selling, theres just a lot on the market. If you are selling your house you have to price competetively, be in excellent condition & have professional marketing to stand out. Otherwise you are just one more house in that area and price range. Don't be afraid to bring a few thousand dollars to closing. Its better than sitting on your house for a long time.
Flag for moderationFriday, Jan 11 at 8:24 AM Do Your Homework wrote ...
If anyone looked at the linn county recorder you can look up the mortgage. It also shows a City of CR Lein for some city rehab that the city has a thirty something thousand interest plus their mortgage. Unexpected things happen and this family is trying and doing anything they can to avoid running away from everything. I too own 2 homes and if worse comes to worse, one is paid off and my family and I could live there. Give them a break. Nobody knows the familys whole story.
Flag for moderationFriday, Jan 11 at 4:24 AM This Is Just The Beginning wrote ...
Study this example well. With the recession in store and the impending stike coming at a certain local high tech company, there will many more of these cases occurring.
Flag for moderationFriday, Jan 11 at 3:07 AM Anonymous wrote ...
Doesn't matter what they bought it for, it matters what it was appraised for. Value of homes do tend to raise. Hence the reason are into real estate
Flag for moderationFriday, Jan 11 at 2:42 AM The Worst Kept Secret In Cedar Rapids.... wrote ...
So when will KCRG do a story on the terrible Cedar Rapids housing market? Here is a chance to report news that the public will care about.
Flag for moderationFriday, Jan 11 at 2:10 AM To 2:44PM Anonymous wrote ...
For those of you that say go out and work more jobs, NEWS FLASH, good luck finding one. I have to drive over an hour to get to my job, I have school children, from a small town, daycare closes at 5PM, So don't sit there and act like I don't do nothing. It is hard to pick up after being pushed down, with limited resources, and that does not mean living off the government. I shouldn't have to explain myself because people like you are cruel and don't care about people. People that talk to much.
Flag for moderationFriday, Jan 11 at 1:50 AM To 2:44 PM Anonymous wrote ...
For your information, if you read what I had said, Both my husband and I were working and could of afforded it until something tragic happened to one of my children. So therefore yes the broker talked us into it even though we didn't want the deal, we made it for my children. My decisions is none of your business first off, secondly don't judge me. So no we do not deserve to loose our home, just because we made a decision for our kids, even if it was a crappy one. Then we did have the money.
Flag for moderationThursday, Jan 10 at 11:17 PM The Truth About The Cedar Rapids Housing Market wrote ...
Well the truth is out about the dismal Cedar Rapids housing market. If you have a house here, you are stuck with an asset that is losing value...and will continue to lose value until this city gets its act together and gets better paying jobs here.
Flag for moderationThursday, Jan 10 at 7:33 PM Anonymous wrote ...
TO Realtor - Gather some market statistics for the area home in question. Talk to the owner to keep dropping the price to get it to sell even if it wont cover the loan. get them to negotiate with the mort cmpy for a short sale without recourse. At this point, the hell with the cheese, get em outta the trap. Maybe offer an incentive to the buyer's realtor to get it sold. this thing needs to be gone YESTERDAY. Renting for them is a good idea. Dont buy a house when yer broke, you will be broker
Flag for moderationThursday, Jan 10 at 6:51 PM Me wrote ...
Were all Human we all make mistakes and maybe this is this families mistake in life somethings can't be controled no reason to bash them with rude comments and make them feel worse, give them words of encouagement and pass on ideas to them that might help them succeed!! Comments left in these boxes aren't there to make people like this family feel unwanted and that is what people turn them into.
Flag for moderationThursday, Jan 10 at 6:00 PM Anonymous wrote ...
Did the mortgage lender hold the pen in these people's hands and helped sign there name? When we bought our house, we went in knowing exactly how much we could spend. We were approved for $200,000 loan. We knew we couldn't afford that. We stuck with what we could afford. We can make the payments because we knew our limit BEFORE we went to the lender. If we got laid off, we would work anywhere to bring in money. A budget also works wonders. Oh, and we aren't rich either.
Flag for moderationThursday, Jan 10 at 5:54 PM Barbara wrote ...
I can't feel too sorry for this family. They weren't forced into buying a second home before the first home sold. They could have rented or made a better choice. It's too bad if they lose their home, but that's what happens when you try to live above your means. It's a hard way to learn a lesson. I hope your kids are paying attention.
Flag for moderationThursday, Jan 10 at 5:50 PM Realtor wrote ...
The best thing they did was move to Anamosa for their girls who love the school and made some really good friends and that means alot to me to want to help get this family back on track..if every one took one family or person to help in anyway you could we can turn this country around, like they say..if everyone would sweep in front of their own door, The whole world would be clean! One at a time and then pass it on!
Flag for moderationThursday, Jan 10 at 5:34 PM Realtor wrote ...
I am the Realtor selling their home...I did not sell them this home to begain with and second they have owned this home for the last 8 1/2 years and fell on hard times with Doug getting laid off and his wife getting sick...they are renting a small house with very small rent payments they are also tring to keep up on the CR house payments and have been doing both for 6 months, they moved to Anamosa so their girls could walk to school without the traffic and big city life.
Flag for moderationThursday, Jan 10 at 4:42 PM Steve wrote ...
Before anyone tears down someone else there may be more to the story. I lost my home not because of job loss but do to the wife and I having major medical problems at the same time. We did have creditors insurance added to the mortgage, but lost it unknown to us, when the company sold our mortgage and the new company did not offer the insurance. It is not all because of job loss and not all people can get help when they need it either.
Flag for moderationThursday, Jan 10 at 4:29 PM Curious wrote ...
Now I see that they are trying to sell the home at $85,000. I would reason they are behind on their payments for their Cedar Rapids home and their Anamosa home. But is their Cedar Rapids home mortgage valued at $85,000? If not, lower the price of the home and get it sold to pay off the mortgage. You're not going to make money on selling houses these days. I think it is ridiculous that people are selling their $40,000 homes for $200,000. Otherwise, they can always rent the home out.
Flag for moderationThursday, Jan 10 at 4:22 PM NE wrote ...
This is the same story for most Americans. Instead of the exception, its now the rule for most to live above their means. The impression that we as a society must have of ourselves is drastically off. We live in a society where the very few have the most, the dollar is rapidly diminishing across the world, we are paying the maximum amount for our resources and yet we still don't get it. No one saves or plans for anything. At some point you think we would learn. The best is yet to come.
Flag for moderationThursday, Jan 10 at 3:56 PM Heartless people wrote ...
I can't believe some of the comments I have read in regards to these poor people. Who are you to judge what was, what is or what went wrong and when. The fact is that we help everybody else in this world and don't help our own people. It is GW fault for the situation America the rich are getting richer and there will be no middle class by the time he is done with his presidency. He needs to start doing something right for a change and that is getting this country back on track.
Flag for moderationThursday, Jan 10 at 3:50 PM Stop feeling sorry for yourself!!! wrote ...
Just because you run into hard times doesn't mean that you run and hide! Get out and do something for yourself. I myself ran into hard times with my house on the market, the difference between you an me is that I will do anything, including getting 3 jobs, just to keep myself from being foreclosed on. Get out and join the workforce....And I wouldn't recommend buying a third house...I am not sure why you bought the 2nd one when you can't afford the 1st...And there are less job opps in Anamosa!
Flag for moderationThursday, Jan 10 at 3:39 PM yankeerebel wrote ...
I am so tired of people whining about how it's everyone else's fault. If you are going to buy a house it is your responsibility to know all there is to know about how real estate and loans work. The idea that we should have the biggest and the best has gotten out of control. We need to live within our means and the includes saying "NO" when we know we really can't afford something.
Flag for moderationThursday, Jan 10 at 3:37 PM Anonymous wrote ...
Because you get laid off doesn't mean that you stick your head in the mud to hid from the world and it will all go away. Everyone has set backs, that's why you should always live within your means and leave a little extra for a rainy day fund. I am in a bad situation, the difference between me and these other people is that I will work 3 jobs if it means that I get to keep my house out of foreclosure. I realized the housing market is bad, my house has been for sale for 1 1/2 yrs. Not sorry!!
Flag for moderationThursday, Jan 10 at 3:33 PM Realist to Iowa City wrote ...
I dont think theres a depression in our near future JUST because of foreclosures. There are alot of things factoring into this. Have you heard about this expensive "war" we were tricked into or the unemployment rate, lay offs, etc. Maybe we could give even bigger tax breaks to co's who move out of the country. Lets reward the illegals with free college, free housing,dr lic. Does that make sense? Nope sure dont.
Flag for moderationThursday, Jan 10 at 3:27 PM looloo wrote ...
Too many people get into a mortgage payment higher than what then afford. The bottom line is: don't get in over your head. If you are worrying about paying a little for your mortgage, look for something cheaper. Sometimes the 'want' of owning your own home gets people in over their heads and they don't think about job loss,etc...Don't pay anymore than what you can comfortably afford. You want to enjoy your home, not worry about paying for it
Flag for moderationThursday, Jan 10 at 2:54 PM Dan wrote ...
Lived on 1 income. Kids didn't get evrything they wanted! Home loan was based on basic income never included overtime or future earnings! kids raised house paid for despite who was president!
Flag for moderationThursday, Jan 10 at 2:44 PM Anonymous wrote ...
To: 1:40 PM For your information; your realestate broker forced you to buy the house? You have no free will or intelligence to make your own decisions? DUH. RE agents don't have your best interest at heart, they are in it for the money, you should have realized that and made the decision that was best for you financially. Sounds like you deserve to lose your house. Renting isn't horrible, go back to that till you get back on your feet. Maybe next time you will make a better choice.
Flag for moderationThursday, Jan 10 at 2:44 PM Lucky wrote ...
So turn the volume down on all those democrats 'pushing change' who would let you believe that we're on some desperate course of misery and unhappiness. The fact is that since you are even reading this on your computer, after receiving it via the world-wide-web confirms that you are among the luckiest people who have ever inhabited this planet. So shut up and enjoy the fact that you are that one lucky person.
Flag for moderationThursday, Jan 10 at 2:43 PM Sharon wrote ...
The Johnsons, and anyone falling behind in their mortgage payments should get on the phone immediately and work out a plan with their lender. Foreclosure is expensive, and lenders and their investors are just figuring out that it is in their best interest to keep people in their homes. Atty Gen. Tom Miller's office has found from lenders that too many people wait too long to call. If nothing else, stave them off by only making the interest payment.
Flag for moderationThursday, Jan 10 at 2:41 PM Middle Class American wrote ...
Stop blaming the economy on GW. We all are living in a great time period. The average middle-class American household probably does have a much smaller measured income than the Kings and Queens of the Middle Ages, but I can promise you that King Henry VIII would have traded away half of his kingdom for modern indoor plumbing, all the antibiotics he would ever need in his lifetime and access to the internet. We live during an amazing age.
Flag for moderationThursday, Jan 10 at 2:38 PM Responsible Guy wrote ...
Who signed for the loan? Did that individual understand what he or she was signing? Did this home buyer have a lawyer? Homes are big money deals, why not spend a few hundred to have a lawyer help you through all the complex paperwork? The article mentions the home's assesed value and selling price, but what is the appraised value and how much equity is there in the home? These seem like such logical questions to ask and report on in this situation. Lots more questions than answers.
Flag for moderationThursday, Jan 10 at 2:34 PM 1st Time Home Owner wrote ...
I can't say as I feel sorry for these people, they own 2 homes! Why buy one when you can't get rid of the other?? I am a 1st time home buyer and received a detailed explanation of how ARM's work, stop putting the blame on the lenders and start blaming the people that signed up for the ARM's thinking only about the current interest rate on not looking to the future. Sorry, no sympathy from me!
Flag for moderationThursday, Jan 10 at 2:01 PM iowa city wrote ...
It is amazing how everyone will be so quick to say that the country is heading for a depression, just because there are a few people that are losing their houses. This has always happend. Why is it such a big deal now? The people that are losing their houses probably shouldn't have been offered a loan in the first place. Lenders went out on a limb and tried to give people w/poor credit an opportunity. Let's just be grateful for the low rates that we all locked in a few years ago.
Flag for moderationThursday, Jan 10 at 1:54 PM Old Guy wrote ...
Please let me know which company it is forclosing on your loan. I want to insure that myself or my extended family do not have a loan with them and if we do we will take our business elsewhere. No reason something cant be done for these people. Ok a finicial mistake was made. Lets not runin their life over it. Home ownership is almost a must if you have children, a pet and want some kind of peace. Times are harder than they appear. This is a wake up call for all. dont be pushed around by bankers
Flag for moderationThursday, Jan 10 at 1:50 PM Concerned wrote ...
If somebody has a problem making a single payment, how on earth can they make a double-payment? Sounds like the mortgage company wanted the house for forced the situation.
Flag for moderationThursday, Jan 10 at 1:43 PM geezer wrote ...
Where does the shoddy realtor fit into this equation? Is she the one that sold the couple a house that they could not afford?
Flag for moderationThursday, Jan 10 at 1:41 PM For your information cont... wrote ...
So much for the American Dream huh...
Flag for moderationThursday, Jan 10 at 1:40 PM For your information wrote ...
My family is loosing our home as well, BOTH me and my husband worked until something tragic happened in our life. No we do not live on taxpayers money and that's the truth, but we were lied to when we purchased the house. We even told the broker that we didn't want it but it was pushed and pushed, she knew we wouldn't make it. Next thing I know our housepayments rose to over 800 a month, now we sank and our kids suffer. The broker didn't care as long as she got rid of it.
Flag for moderationThursday, Jan 10 at 12:55 PM bhall wrote ...
we are almost in the same boat and to top it off my wifes company filed emergancy bankruptcy and we are not getting her final check or pto. the big business government that we have will have us all enslaved before long the america we grew up with is gone and for those who say there is only one way that is back up obviously you have never been down or been threw a true hard ship i hope and pray the johnstons end up ok but the bottom hasnt been seen yet
Flag for moderationThursday, Jan 10 at 12:26 PM Nang wrote ...
Let do it, What are will happen with personal opinion here? We should gather to help ourselves by changing governor and government and keep them in American tracks. Do you agree to make forum for these let me know and we do it
Flag for moderationThursday, Jan 10 at 12:18 PM Kory wrote ...
My heart goes out to this family. I would be intrested in helping this family out anyone let me know how ok.
Flag for moderationThursday, Jan 10 at 12:00 PM Get Real wrote ...
Of course there shouldn't be a govt bailout but I place all the blame on mortgage companies who LIED to buyers about the reality of ARM's and banks who helped perpetuate the lie. Buyer beware is something everyone should keep in mind but when you have business that are supposed to be regulated by the govt. assuring all will be well some people fall for it.
Flag for moderationThursday, Jan 10 at 11:56 AM question wrote ...
Why is it that we can spend billions and countless lives to help the Irqais, but when Americans need help, like in New Orleans or the housing rip off. You all say WORK HARDER.
Flag for moderationThursday, Jan 10 at 11:52 AM cr wrote ...
why not rent it out until it sells for the amount of the house payment?
Flag for moderationThursday, Jan 10 at 11:34 AM Realist wrote ...
This country bails people out every day. Look at the large tax on cigs, this money is for small businesses who cant afford health insurance for their employees, boohoo. is that my problem? Or the people who are "depressed" collecting disability, what a country. You cant be depressed for years. Get over it.
Flag for moderationThursday, Jan 10 at 11:19 AM fred wrote ...
meantime what do we do with all the empty houses?
Flag for moderationThursday, Jan 10 at 11:02 AM jdjfjf wrote ...
all the bush haters need to get a life and a clue!
Flag for moderationThursday, Jan 10 at 10:49 AM SAD wrote ...
WAKE up! The America that our Grand Fathers fight for and died for in World War 2; has been sold,packaged and shipped overseas.
Flag for moderationThursday, Jan 10 at 10:42 AM lets hear the whole truth wrote ...
Do you have two incomes? When was the last time your wife worked or are you living off of taxpayers?
Flag for moderationThursday, Jan 10 at 10:28 AM american wrote ...
For fifty years Americans have paid trillions of dollars out in foreign aid. Our streets should be paved in gold. Now most of these same countries hate us and wish us harm. Our foreign aid monies should go to Americans who have worked so hard
Flag for moderationThursday, Jan 10 at 10:25 AM Anonymous wrote ...
Thats a crappy situation, but the family got into it themselves. You don't move to a new home before you sell your old home unless you can afford to take the risk that your house doesn't sell. They took a bad risk and failed. Such is life. It had nothing to do with the mortgage company. Plus, that house is in a bad location so would take alot longer to sell in a good market, let alone the last 2 years of housing market. Too bad the bankruptcy laws changed, but they should still qualify.
Flag for moderationThursday, Jan 10 at 10:22 AM State of the Country wrote ...
Certainly no one man can be held accountable, but take a look around these days, and compare against 8 years ago. In an unpopular war that zaps lives and resources, high energy costs, rising costs everywhere, stagnant paychecks, sinking jobs market, devaluation of property, interest rate cuts not making it to the consumer, the markets rattled, who's been minding the store? Certainly not GW.
Flag for moderationThursday, Jan 10 at 10:00 AM Been There wrote ...
I feel for them deeply. My husband lost his job at Goss back in 2001. The stress of that caused him to have a horrible heart attack. No insurance, etc. We were lucky - we managed to sell our home of 30 years just before we were due to lose it. But that was 3 years ago when houses were still selling them. We also moved to Anamosa where the housing is more reasonable. The community has the small town feeling of years ago. Would like to help their kids with school activities. Join me!
Flag for moderationThursday, Jan 10 at 10:00 AM Michele wrote ...
We too have some of the same experiences these people do. We have moved to a new house and ours is still for sale. the market got bad after we put our house on the market. We are selling ours below assessed value even and no sale yet. It is very difficult to make 2 mortgage payments. Maybe a bridge loan would help these people or a refinance. I know it's a tough spot to be in. Hopefully the housing market will turn around soon!
Flag for moderationThursday, Jan 10 at 9:33 AM This is not the government's fault! wrote ...
Dena 6:42- Are you seriously blaming Bush for somebody being forclosed on? They signed the loan. They may have been in over thier heads, leveraged too much or got a nice 125% loan to value. This family was laid off from work. Has nothing to do with Bush. Now there are people running for President offering hope in the form of a bailout from the Gov...WE PAY FOR OTHER PEOPLE'S MISTAKES/MISFORTUNE! It is OUR Tax dollars they want to use for this. So, what is the next handout going to be?
Flag for moderationThursday, Jan 10 at 9:16 AM Kim wrote ...
Sad situation for this whole country! Look out because we will be in a depression soon. The rich may think everything is fine but it will hit them too! When people start loosing there jobs it just goes on down the line to everybody! PRAY!!!!!!
Flag for moderationThursday, Jan 10 at 9:06 AM Get to work.... wrote ...
Why is it the government's responsibility to bail us out? If you are physically and mentally able, work to get out of the situation. Get a second job, buy a smaller home, rent an apartment if you need to. I am so sick of this entitlement attitude that the government should bail us out of everything. Talk responsibility for yourself and your actions.
Flag for moderationThursday, Jan 10 at 6:42 AM Dena wrote ...
This is happening all over the country. Eight years doesnt seem that long, but long enough for a "man" to destroy a country. I see another depression in our future, maybe worse than the last. I feel for them all, well not the rich.
Flag for moderationThursday, Jan 10 at 5:42 AM Anonymous wrote ...
A govt Bailout is NOT the answer. if the govt bails people out, there is no lesson learned. This is both the lender's fault and the borrower's fault. lender shouldnt have been shoddy, and family should have researched more before getting this thing. Remember Proverbs 22:7 The rich rule over the poor. and the borrower is SLAVE to the lender. If i was them heres what i'd do. Drop the price, get an offer and do a "short" sale or if that dont work, a deed in leiu of foreclosure WITHOUT recourse.
Flag for moderationThursday, Jan 10 at 5:37 AM no name wrote ...
we need to pressure our congress men to help us. taxes would be a good start
Flag for moderationThursday, Jan 10 at 4:31 AM theoretically wrote ...
What would mortgage lenders do if EVERYONE decided to "skip" a few payments, they cant foreclose on everyone, someone should start a website and see how many are game. I'm in, We're probably on the news for the same story by next year.
Flag for moderationWednesday, Jan 9 at 10:35 PM Wish I Could Help wrote ...
It seems like everyone is losing everything, soon there will just be a bunch of empty homes and a lot of homeless people, the government could solve these problems but they won't. If I had the money to help people I would, I would buy the house and sell it back to these people with lower, more manageable payments.
Flag for moderationWednesday, Jan 9 at 10:26 PM Jeff wrote ...
It pains me to hear about another family put out due to the lack of money The cost of living is so high any the circle continues wages go up so does the cost of the product yet large cops are turning in record profits and the less fortunate get tossed to the curb Where is the justice
Flag for moderationWednesday, Jan 9 at 10:14 PM Ben There wrote ...
When your on the bottom, there's no way to go but up.
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