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The Lights Have Gone Out For Many in Foreclosure
December 2nd, 2007 categories: Foreclosure, Real Estate, Sacramento
For many homeowners in the Sacramento region the lights have gone out on home ownership and many others that are awaiting their fate.
This morning in the Sacramento Bee, I was saddened by the lack of empathy most commentators had regarding the “Behind the Meltdown:Out and down” article that discussed how the pain lingers long after a foreclosure.
Since most Americans are ONE paycheck away from bankruptcy and ONE illness away from foreclosure, I find it interesting that so few have the slightest bit of compassion for the homeowners who are now suffering.
I have said before and it bears repeating again…this effects everyone! The trickle down, the domino effect will and is touching each of us whether you are a homeowner or a renter…the foreclosure phenomenon is touching us all in many ways. Businesses are effected and will continue to be effected. The American Dream of homeownership has become a Nightmare for many. Families are suffering, not only in their marriages but also the children are suffering. Where’s your heart Sacramento?
So, as you enjoy the warmth of your home during this holiday season and all the comforts, think of those who the lights have gone out on for a moment. Yes, there are those who lost their homes due to illness, job loss, fraud and those that used their homes like an ATM machines.
There are many different reasons why foreclosure happens. Try not to judge, least you should be judged. And think of all those children while you are judging. No one needs to be kicked while they are down and these families who have gone through and are going through foreclosure have been kicked enough!
Try a little empathy for your fellow man as you gaze at the red dots on the photo below from the Sacramento Bee displaying all the foreclosures in Natomas and in Folsom. These two photos only show a small portion of the foreclosures in the Sacramento area.
Many homeowners and renters who lose everything they own according to statistics do so because of medical illness. Some of these homeowners in foreclosure are there because of
- Subprime Loans readjusting
- Robbing equity out of their homes
- Serious Illness
How far away from bankruptcy and foreclosure are you? Could you weather the storm if you lost your job, or had a serious illness? What say you, Sacramento?
Other Related Foreclosure Articles:
Sacramento Real Estate is Thankful this Thanksgiving
Sacramento Real Estate Writes letter to All Banks
Sacramento Real Estate, Prepare for the Eye of the Storm
Do You Understand Foreclosure?
Very nice website, very informative. Should be accessed by anyone in Real Estate, no matter what their interest is.
I will bookmark your site and refer to it from time to time.
Thanks
TN
(My e-mail is neatheryt@sbcglobal.net)
Truett, I appreciate the personal touch with your phone call and your comment, here.
Where has the compassion in our country gone? And when you see how many have gone into foreclosure, what has happened to everyone else’s home value? Destroyed right along with the ones in foreclosure. Spillover,collateral damage…
The country is heading for depression, and there is a class who says, “Let them eat cake.”
Terry McDonald
Sad situation for many.This is a very compassionate article from a compassionate realtor about bankruptcy and foreclosure facing many Americans.
most of these people should have been saving
for an affordable house, not signing for a sub prime.they signed ,no one twisted their arms.
live within your means,save
Bill, some knew what they were signing and others did not. Having been to many signings, I have seen where lenders change things at the last minute and buyers are unaware.
There is much fraud and it would be more reasonable to not group everyone in the same box.
You are right about grouping everyone.That goes for not all foreclosures should be helped,some yes if fraud or deception are shown.What about the people who will not declare foreclosure but still deal with new interest rates?
Trust me,being in construction I want to see more home construction and buyers.It got crazy with the types of loans.
Bill, I feel for you if you are in construction. This has hurt more people than most would ever even consider possible.
Until this mess is cleaned up, I don’t see a lot of new construction nor do I see a lot of jobs.
That’s why if we want to survive as a society, in my opinion we need to solve this devastating elephant in our face, first.
So, for your own sake you might want there to be a fix of this problem for those in the sub-prime whirl otherwise you won’t see much construction.
That’s just my humble opinion.
Honestly, I am an empathetic person by nature, but I have a hard time finding any for those who knowingly signed up for subprime mortgages, and now have to pay the piper.
I get what the author is saying, but honestly, why should I have empathy for those who irresponsibly made the decision to jump into owning a home they had no business purchasing? Yes, this has a trickle down effect, and myself, being a responsible home buyer, have to suffer the consequences too. Who feels bad for me Mr. Author? I’m forced to deal with a bad economy, a home that I can’t sell as readily, and for a fraction of what I could have received before. I didn’t make any irresponsible decisions.
Yes, some people get sick, some lose their jobs, and some, through sheer bad fortune end up losing their homes. But, if those people actually planned ahead and built rainy day funds in the first place, instead of jumping into buying a home, they would still be okay.
Doug, I’m with you…I too have lost value just like everyone else but this effects more than just our homes and we either all suffer greatly including businesses or we figure out a way to get around all this.
I’m for figuring out a solution so we don’t all suffer any further. I don’t just mean houses going down in value.
This effects our entire economy and I for one am not looking forward to making everyone bleed from business to home.
If someone has a solution, I’d love to hear it.