Sign of the times? Foreclosure Bus Tour

[mfkaplan]

Almost couldn't believe what I was seeing. Saw this in Yuba City, CA and it made me feel very sad. Lots of people are losing their homes in central and northern California. I guess the real estate companies are making the best of a bad market.

[Nitetimes]

They'd be pretty busy around here!

[satch]

Almost couldn't believe what I was seeing. Saw this in Yuba City, CA and it made me feel very sad. Lots of people are losing their homes in central and northern California. I guess the real estate companies are making the best of a bad market.

Believe it. I live just so. of ya, and homes here are going down like good beer. I just had one across the street go down, nothing like watching my property value go down the toilet.

[starleen2]

Ever shop around fro the best buy on a product? At least the houses being shown may have a chance of being sold. A sold house is at least better than one that sits empty and dives prices lower because no one wants to care for it.

[Geron]

And I'm in the market. Gonna sell my house -- Maybe?

That's the Geron way. Buy High and sell low. Works every time -- for the other guy.

g

[madprinter]

It's really a shame. Most areas have no courses in common since financing and spending. Heck some schools allow credit card companies to come to the school and sign kids up. What we teach them follows over into there lives. I get tons of credit card aplications in the mail. I shred and trash them fast. The companies made bad loans. They where very aggressive at making these loans and should have to pay for there bad practices. Did your Grandpaw have a gold card?? Bet they could'nt have given him one. Times have changed for the worst. Wake up America.
Sorry for such a long venting post. Good thing this post was'nt on gas prices
Going to think about taking my medication now.

[satch]

It's really a shame. Most areas have no courses in common since financing and spending. Heck some schools allow credit card companies to come to the school and sign kids up. What we teach them follows over into there lives. I get tons of credit card aplications in the mail. I shred and trash them fast. The companies made bad loans. They where very aggressive at making these loans and should have to pay for there bad practices. Did your Grandpaw have a gold card?? Bet they could'nt have given him one. Times have changed for the worst. Wake up America.
Sorry for such a long venting post. Good thing this post was'nt on gas prices
Going to think about taking my medication now.

No need to be sorry, most of us feel the same. My neighbor across the street ( the one that forclosed) used their house like a "piggy bank", and kept taking loans on it. They would run up the credit cards, refi the house, pay off the cards, and start running up the cards again. I always try to live withen my income, and my house is all I have. It ticks me off, now I have to suffer because others were stupid.

[bobhenry]

I was thinking this morning on the way into work that we are lucky that what the wife and I make can even cover the bills.

It's just a shame that all our disposable income has to be on plastic

[Miriam C.]

Fortunately, house prices didn't inflate here the way they did in a lot of other places. We have a fairly stable housing market. The only thing that goes up is taxes.

[Coca Cola Teardrop]

Hum....this really makes me thankful that Charles and I built our first house all by ourselves and paid cash as we went. No loan. Lived in it for 12 years and sold it for what we paid for it ( no land. just big frame house and couple moved it to their land). We then built our second house, paid cash again...No mortgage.......

I see these young folks just starting out and they have 2 brand new vehicles, a new boat and a new house. Sometimes I wonder if they realize they have to pay for it all.

Linda

[satch]

Hum....this really makes me thankful that Charles and I built our first house all by ourselves and paid cash as we went. No loan. Lived in it for 12 years and sold it for what we paid for it ( no land. just big frame house and couple moved it to their land). We then built our second house, paid cash again...No mortgage.......

I see these young folks just starting out and they have 2 brand new vehicles, a new boat and a new house. Sometimes I wonder if they realize they have to pay for it all.

Linda

I bought a house,used.I have a boat,used. II have three cars,2used,but paid for.I do have a house payment, but it's well with in my budget. I would say I have my share of toys, but you need to by smart about it. You don't have to live the "american dream" buy going over your head in bill payments. Besides, if I did like most, I wouldn't have money to build a tear.

[Nitetimes]

Everything I own is paid for except my house. I don't buy it unless I have the money for it. I know what I have coming in and it can't afford the interest on credit cards! But it does manage to keep me in my toys and tools and I even eat now and then!

[Coca Cola Teardrop]

We are the same Rich

No house payment. One 06 truck financed at 0% interest. One 05 truck, paid cash for. If Charles wants a new toy he does an odd job (metal buildings) We like to pay cash for everything. That way what we have is really ours.

Linda

[Gaston]

If I have it I own it .
house up the hill being foreclosed on.
the "owner" bought it with a 110% loan variable loan. rates "varied " up and he lost the house. stupid for buying more than he could pay for and thinking there was "free money", stupid mortgage company for replacing common sense with greed. now they both lose, and they got what they deserve. (its now listed for $50K less then he paid and so far no takers)

[mikeschn]

Remember Greenspan encouraging people to buy houses using variable rate mortgages? Geesh... and I guess a lot of people did. They are the first wave of foreclosures...