they just foreclosed on my neighbor

T77911S · 12-09-2009, 04:09 AM

i came home from work the other day and saw a bunch of garbage in my neighbors driveway (dooryard for the yankees). my daughter said she thought they moved out. sure enough they did. i asked the judge if he new what happened to dan (i was talking to him about my other problem), he did not know he had moved either. he sent me a link yesterday that had the foreclosure info on it. $300k lien. wow. i just sat there in shock. for some reason this just hit me hard. i did not talk to or know them that well. we new they were on wick and we would give them extra food and milk we had. ( we would get a lot of stuff from wic for the foster kid we had and of course most of the stuff you can get, the kid cant eat). i remember several months ago they go a Yukon, they had an envoy, and i remember thinking how could they afford that.

i am rebuilding my garage, i asked dan to come over and give me a bid on building it for me, he never came back.

it really hit hard when i looked in the window and the only thing in the house was a christmas tree.

KNS · 12-09-2009, 04:29 AM

There is a whole generation in this country that doesn't understand what it is to live within your means or how to budget your expenses. I'm surprised to learn that now our kids are taught in school (fifth grade) how to balance a checkbook! Somebody higher up in the school board must have realized what a dire situation this country has gotten itself into because adults can't budget their lives. It now must be force-fed to the general population because people can't figure it out otherwise.

I guess it is a good thing that this is taught to kids at young age, I just remember seeing my parents with the bills spread across the table and the checkbook out. I asked what it was all about and they said something like: "Don't spend more than what's in your account or can afford at that moment". It didn't seem that mysterious to me...

Super_Dave_D · Super_Dave_D's Garage

My neighbor came over one day about a year ago and said "see ya" and moved. I walk my neighborhood and it seems that every 6-7 houses are vacant. It does wonders for the value of my house

JHinOH · JHinOH's Garage

That would be stressful to have a neighbor go through that, on top of the fact that now who takes care of the yard and stuff? I do feel bad for people like this even if it maybe had a lot to do with getting in over your head.
Myrtle Beach has had so much building in the last 10 years, I was wondering if it would get ugly in this economy. My parents live up in Sunset beach and keep trying to get me to buy a rental or condo there, not sure if the time is right yet.

equality72521 · 12-09-2009, 04:54 AM

Quote:

Originally Posted by KNS

I'm surprised to learn that now our kids are taught in school (fifth grade) how to balance a checkbook! Somebody higher up in the school board must have realized what a dire situation this country has gotten itself into because adults can't budget their lives. It now must be force-fed to the general population because people can't figure it out otherwise.

We were taught how to write checks and balance a checkbook in 4th or 5th grade back in the 70's where I went to school. I guess I thought everyone taught that.

KNS · 12-09-2009, 05:13 AM

I was in 4th and 5th grade in the '70s in SoCal, I don't think they taught it there. Maybe that's why California is in such a financial mess.

legion · 12-09-2009, 05:15 AM

Is this the horse neighbor?

Rick Lee · Rick Lee's Garage

My nextdoor neighbor was foreclosed on this year. But they had abandoned the house long before. Some investor snatched it up, sent a crew in to fix the place up and it's been rented for the last several months, looks fine now.

legion · 12-09-2009, 05:22 AM

I haven't seen a single foreclosure here in Bloomington. I'm sure they happen, I just haven't seen any.

Three houses were for sale on my street at the same time this fall. All three sold within three months.

I'm solidly in the middle of the local RE market. My impression is that most of the foreclosures are occurring at the bottom and the top. At the bottom because people with no or bad credit used those "funny" loans to buy houses and had absolutely no idea how to budget. At the top because people used those "funny" loans to buy houses they couldn't afford and expected just to refinance every few years and cash-out the capital gains.

vwbobd · vwbobd's Garage

I thought that my neighborhood would be a ghost town when the downturn hit but suprisingly, and thankfully it is not. There was a lot of "new money" move in here back about 5 years ago, mostly yonger couples. All with the same things, you know: @new cars, all new furniture, humongous TV's, yada yada yada... But Im just amazed that all are stilll here, 38 familys . This is amazing form the most part because the areas biggest industry is carpet and flooring. The area has a 12% unemployment rate, one of the highest in the state and in the nation. I guess Im just saying that I am very thankful that out neighbors are not losing thier homes. Im also lucky my wife and I have taken care of our money over the years and can sleep soundly at night not worrying about our home. My 2 cents.

equality72521 · 12-09-2009, 05:32 AM

I just sold my house here in Villa Hills, KY last week. We're moving back to Indy. It went on the MLS on Tuesday and it was sold by Friday. We've been here less than 3 years and sold for $15k more than we paid. All I've done is interior painting and some minor ceramic tile work. Not bad in this economy. We probably could have gotten more out of it but we didn't want to push it and delay the move if the buyers rejected a higher counter offer.

masraum · 12-09-2009, 05:46 AM

Quote:

Originally Posted by T77911S

it really hit hard when i looked in the window and the only thing in the house was a christmas tree.

Wow, that's a really poignant image of the state of things.

Joe Bob · Joe Bob's Garage

No worse than getting a divorce and tossed from your house....

T77911S · 12-09-2009, 06:02 AM

Quote:

Originally Posted by legion

Is this the horse neighbor?

LOL, i wish. thank goodness they dont live there. that would be waaay too close. i dont know how they are keeping their house. i do know they rent. theses were actually nice people. they put up with my band practice twice a week. they were kinda strange. he was very much an outdoors guy, liked to hunt and fish. i only saw her 3 or 4 times. i think he spent more time hunting and fishing than working.

i know what my payment is on $225K, i dont see how he was ever going to pay on a $300k loan.

there was a guy at work looking at motorcycles or something like that. i said, carl, i wish i had your money and could buy all those toys. he said, you can, its called credit! so after the long discussion of how money coming in has to be greater than the money going out, his attitude was to let the bank come get it. (do i need to say he was non-white or was that understood)

T77911S · 12-09-2009, 06:10 AM

i dont see how he had $300k in that house. he paid 125 for the lot, he does construction and i think he and his dad built it, and its not a big house. i would say 1500 sqf and no garage.

the house behind me is empty too. at one time he was close to foreclosure. i know he is down in charleston now working. i saw him a few weeks ago but thats it. he came and cut the grass. i had cut it with the tractor about 2 weeks before.

mca · 12-09-2009, 06:35 AM

I bet he refinanced and bought the cars outright. This could easily bump up the mortgage by $30k. Of course, if you are going to refi and buy a car you might as well take out a little spending cash too right?

I made that mistake once.

Schumi · 12-09-2009, 06:45 AM

I wasn't taught how to 'balance a checkbook' in school and why anyways- you're adding and subtracting people... this isn't differential equations here.

It's not just a generation growing up on debt- it's now TWO generations growing up on debt. This idea that anyone can 'keep up with the Cardashians' (are they the new Jones'?) just by charging away at life....

cgarr · cgarr's Garage

Quote:

Originally Posted by mca

I bet he refinanced and bought the cars outright. This could easily bump up the mortgage by $30k. Of course, if you are going to refi and buy a car you might as well take out a little spending cash too right?I made that mistake once.

Thats what I was thinking! Why in hell would anyone pay 30 years on a car that will be long gone and buried within 10

stomachmonkey · 12-09-2009, 06:56 AM

Quote:

Originally Posted by T77911S

(do i need to say he was non-white or was that understood)

Of course it was.

Isn't it amazing that non-pigmented people are the only ones that understand credit and don't have that "let them take it" attitude.

Bet the guy across the street was "one of them"

as well.

Had an ex gf whose Aunt/Uncle used to live like that. They'd rent a place, not pay, and live free for the 6-8 months it took to get evicted. Then they'd just repeat. Always has new cars and all kinds of stuff.

They say they were Italian but they were really Sicilian so they've got all that Moorish blood in em ya know.

T77911S · 12-09-2009, 07:07 AM

seocnd mortgage was my thought. but the claim only showed one amount.
i dont know why they bought the yukon. the envoy they had was nice, unless it got repo'd. sniper, you been over by my house?

here is a link that shows his house. it is the yellow one. my house is down the dirt driveway. the trailor off to the right is the good neighbor. she owns the property where we keep the horses for those that are following my other troubles. she also has a daughter, jenna, that plays with my kid. the WT, ronna lives to the left.

Google Maps

this is where the future resident of the state lives. the house behind is the one the kids broke into.

Google Maps