My neighbor lost his house

[Contrary Housewife]

They're moving today. I had no idea. (But then a lot of people don't go around talking about how far in debt they are). I wish I had known about it, I'd have happily paid him to paint our house or do yardwork. He said he's been out of work and they got behind on their payments, and while he can make the regular payment now, the bank wasn't willing to work with them and is selling the house.

I feel bad for them, he doesn't have any trade skills or education and there is a lot of competition for work. He has a young wife and a baby. She works, they're just barely getting by on her job. They both drive expensive new cars, and I know I shouldn't judge them, but it seems like they didn't make good choices there. I bet the truck payment is more than the mortgage.

So they're moving to an apartment they can afford and are going to cut their losses and try and start over. I wished them well. And I hope our new neighbors are clean and quiet, too.

[frugalwarrior]

It has happened to at least a dozen here that we know. Neighbors,friends alike. Try not to judge them. i learned situations can switch in the blink of an eye.

[Nana2two]

We all make mistakes and make and decide on some stupid choices in our lives. Money,marriage,children ect. The list goes on and on. Our ancestors did it and even after we teach our children there children will make mistakes. My parents made stupid money choices i have also. Im sure your friends are embarresed , where we live so many houses are going up for sale so many empty houses.Chances are we have no clue that the people that live across the street or next door is in a fianacial mess, but still drive around in new cars and dress the kids in the best clothes. I would offer your friends some tips.

[strezzed]

That's so sad. But it's quite the norm these days. Many of our neighbours are selling their homes. I wonder how many of them are selling due to necessity?

[FrugalMomof3]

It's happening to alot of people out there and I feel so bad. Let's just cross our fingers we get a turnaround soon.

[xtena]

It happened to my cousin. She is a low level Kmart manager, which doesn't pay much. Her husband's a trucker. He used to do 'long haul' and used their equity to buy a semi a few years back. The real estate bubble burst; the equity disappeared; he decided long haul is too dangerous (my brother died on the road) and his local trucking jobs just didn't pay enough. He had to sell the truck at a loss and they fell behind and eventually lost the house.

Buying the semi was obviously not a good decision; my cousin drives an SUV, in retrospect another bad decision, but I really don't 'judge' them. I pity them, especially my cousin, who is the nicest person you'd ever meet, and has worked hard her entire life even though her jobs have always been fairly low paying.

I'd love to give them copies of Dave Ramsey's or Mary Hunt's books, but I'm afraid it would be like a slap in their face.

[McD]

I answered the phone my first week at the water department and it was a gentleman wanting to take service out of his name. He started crying on the phone because he had lost his home to foreclosure. I felt horrible for him.

[miss_thrifty]

Yeah lot of popel are hurting everywhere and ters so many seniors that we dont even know about that are hurting here and aint telling us.

[Nana2two]

It does saden me also. My soninlaw lost his Job last week , he was a assistant manager for a resturant, you would think how resturants are always hiring even for waiters, no leads so far. My daughter is working double shifts. One thing they are lucky there rent is 250 a month the house belonngs to my soninlaws parents.They only have to pay the taxes and insurance .The house is paid for,

[Dancing Lotus]

I don't know of anyone who has lost a home but I do know a few who are on the edge. Our good neighbor across the street has been struggling for sometime now. We have been behind ourselves so I know the feeling. Fortunately for us my husband found work fast enough to save our butts from foreclosure. It must feel awful but in the end the only thing you can do is to pick yourself back up and keep going.

I think if i had two newer expensive cars I would let the cars go before I would the house. ?

[MaryCarney]

You know, my dad told me that after the Great Depression, most people in his generation were so scarred that they were very careful with money the rest of their lives. Perhaps that is the good that will come of our nation's current troubles.

[strezzed]

You know, my dad told me that after the Great Depression, most people in his generation were so scarred that they were very careful with money the rest of their lives. Perhaps that is the good that will come of our nation's current troubles.

I certainly hope so!

[Michelle68]

That is very sad. Hopefully, by moving into an apartment, this will be a new beginning for them.Perhaps they will have learned from the mistakes they made and it will give them an opportunity to get their finances back on track.

[naturalmama]

Sadly, this is happening a lot these days. The lucky among us are merely stuck with our houses, unable to sell (at least at a decent price). I can't imagine what it must be like to have your home taken from you.

I wish your neighbors well, and hope they are able to make a fresh start and get back on their feet.

[many houseapes]

Hearing of others losing their homes scares the crap out of me. Although we are thankful that dh atill has a job, I can't help to wonder when it will be our turn. We have faced some scary times...3 yrs ago was horrible when dh was unemployed & w/ #10 on the way. This year the company that he now works for gave no raises, consolidated territories, layed off some group leaders - you get the picture....I'm just spooked by all of it, as we have always lived one small catastrophe from financial ruin.Prayers for all.