Your Take

Your Take... On Foreclosure

Tell us about your experiences with foreclosure. Has your neighborhood changed due to foreclosures? Have you been forced into foreclosure? Are you a renter who has lost your home because your landlord foreclosed?

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Trashed Out

I'm sorry, but to watch as useful, some valuable items such as the oak table in one house, go to the dumpster is pathetic. Something WRONG with these companies that cannot schedule to take this stuff to Goodwill or a place that is open and ready to unload it. If a dumpster is waiting, so is a charity organization. Not cost effective? FOR SHAME. Maybe former owners are now living in the back of a car, small crammed motel room or with relatives. Doupt they willing leave valuable items behind. Just cannot take with.
Again, SHAME ON THE TRASHING COMPANIES FOR NOT DOING A BETTER JOB IS DONATING ITEMS instead of trashing them.

Feb. 6, 2009

RE: Trashout

To: Cecil

I don't think you are listening carefully to the Supervisor watching the contracted movers. He explained that they were given limited time to do one job (4 hrs.) everything must be out and the home cleared of all trash. They have tried to work with charitable org. but most of the time the Charity org. truck won't be there on the certain day and time they are supposed to be. The movers has scheduled so many homes to clean up per day. They can not sit and wait for Goodwill.

One more thing, the charity org, are selective of what they would like to take. I have personally experienced that with
Goodwill. I called them. They did not show up and then after 3 days they were there, took a look at the furniture and other furnishing and then walk away and said that the stuff is not worth that much. So, it was a waste of time and money. Then, I have to call the movers again and pay them for the days work that could have done in the first day they were there.

Pls. check the facts and listen carefully before pointing fingers at anyone.


Foreclosure hits home for me,tonights program comes after a a full day of searching for legal help and finding that I am losing my house because there is nobody home in any single government establishment in orange county that I visited today.
Social services, county of orange court house, aliso viejo police dept.
Ca state bar. orange county D.A. and the mayor's and legislators office have no accesability. I am ready to go public and expose the lack of oversight.
The D.A.'s website is full of pornography. Am I in a 3rd world
country. Please HELP.

SOCAL CONNECTED FEB. 5, 2009
RE: TRASHOUT

It is very unsettling to watch this story. How could this ever happened to United States?

People all over the world look up to this country as flowing with "milk and honey". But they have no idea the ugly truth.
Foreclosed homes being cleaned out because families with children just moved out in haste leaving behind every piece of mementos such as family photos. Most of the trashout belongings could have easily been given out to families across the ocean, like those toys that children in poor countries will never be able to afford.

Or computers donated to schools in India or Philippines where they could not afford to buy such modern technology.

The United States of America is a country of blatant waste.
People just buy things on credit and not able to pay it back.
Families furnished their homes with expensive furniture and now those belongings just end up in the landfield.

God has bless this country with abundance but it seems that along with this blessings people had taken for granted and had indulged to the excess. Very very sad.

First and foremost I want to thank you for presenting a variety of scenarios in educating the public. As a full time Realtor, this market has jeopardized our local, national, and global economies.

Regarding the short sale scenario in a socialized society there is no incentive for banks to negotiate on a short sale when they will get their losses paid for via bail out money. Banks would be more willing to modify and do everything possible to avoid taking the home back if they would be responsible for the criminal acts committed. There is a lesson to be learned that businesses including banks need to be regulated and cannot be left for them to do the right or ethical thing.

Unfortunately, Realtors that have signed up w/banks are getting so many REO properties that it is humanly impossible to provide the seller (banks) with service. I can't get a hold of REO Realtors, they don't respond to email, phone messages, and don't even respond to offers submitted.

Realtors in order to keep the REO business they are forgetting the code of ethics and their fiduciary duties; I often compare to the Anderson accounting firm in the Enron scandal and we all know how that turned out.

The other thing is that banks are dictating only certain escrow and title companies again impossible to service the quantity and allowing other title and escrow companies to close due to lack of business.

The new wave is now the loan modifications; I’ve heard some horror stories of people paying up to $5k and having nothing done. I will look on your site to see if there is any additional information regarding loan modification. Many of these homeowners are so desperate and become easy prey to again GREED, GREED, GREED….


Today is 2/5/2009 and I just ran to the bank to wirer money to the mortgage company 2,377.80 to get started into a forbearance agreement again. This is my second forbearance agreement I intered with my mortgage company to try and keep my home out of forcloser. The first forbearance was suppost to help me get out of forcloser, but after doing every thing the mortgage company asked of me, my house went into forcloser any way and my debt became greater. When I started with the first forbearance I owe 7,629.89 to bring my loan current and now I owe 12,858.67. This is not right. I thought the mortgage company was there to help me, but Itseems that they are just trying to get as much money as they can before my home is sold.

I don't know what to do. Is there any thing that you can do to help me save my home?
Please contact me with any suggesting at md4od@aol.com

Thank you,
Olga

Feb 6, 2009

Hi Olga,

I read your predicament. You are absolutely right, your mortgage co is bleeding you dry. There is no way they will let you catch up no matter how many forebearance agreements you sign. All they wanted is to foreclose. I do not know what company are you dealing with and I do not know your rate of interest but you could have taken advantage of the recent
"loan modification" program recently ordered by Federal.

Your mortgage co. got you tangled up in their web of predatory tactics. Pls. consult with Federal Housing(HUD) asap.

Hello, my name is Carmen Medina, and my story today is about our homes lost to foreclosure.
My mother and I recently lost 2 homes to foreclosure. Our 1st home was located in San Diego, CA and lost the home to foreclosure due to being unable to refinance. Our mortgage payment had went up from $3100 to $3600. When we fell 2 months behind and no help from the lender Saxon Mortgage or Countrywide, we decided to put the home up for sale. No success for 3 months until we finally received a short sale offer. The loss would only be about $7000 on the sale.
Well, both lenders turned down the offer and would not accept by any means more than what the worth of the home at the time was, and the house never sold after that.
Unfortunately, we had to try and save our 2nd home in Romoland, CA which our lender Long Beach Mortgage also, was unwilling to help us lower the payment they had just changed from $2700 to $3400. I explained to Long Beach Mortgage that I had the funds to bring the payments current but would not be able to make the new monthly payment amount. I asked if they can help us in lowering the payment or keeping it as before at $2700? They flat out denied any help and the reresentative just unprofessionally said, "either you pay to bring it current, put it up for sale (short sale) or just give it up now". I pleaded with him and explained I loved my home and did not want to lose it. He said " you can't even get on our system for hardship assistance unless you can prove that you are grossing about $700 more. Once you can prove that, then give us a call back so we can re-review your request, but at this moment we can not help you".
A good friend of ours (a Financial Advisor) said "take your money, save it and go rent a house instead. Do not lose your money because in a few months after trying to save the home, you will still end up losing it to foreclosure because you will be unable to make that high payment". So we did just that, returned the home and I am now trying to make a new fresh start.
Our lives changed drastically. As a single mother with my beautiful 3 year old son, I am now renting a decent somewhat affordable home (that I worked very hard to make changes for the landlord's to make the home look livable), struggling to make utility payments and at the same time, trying to restart my daycare business. My mother, moved to Oregon because she could not bare the embarrassment of losing her home and all the pressure and stress we were put under during this whole fiasco. Life seems to be a whole lot slower in Oregon for her and more affordable.
With God's grace and good family and friends supporting us, we know that we will pick ourselves up and someday will be homeowner's once again. Now, all we need to do, is clean up our credit, might take 10 years or so, but I have faith things will change to those that were not treated fairly.
By the way, we cleaned up the house and left it in good selling conditions for the bank. All they would have to worry about was finding a buyer to move right in.

Any advice or suggestions are very much welcomed at this point. Thank you for taking the time to read our hardship story.

Good Luck to anyone who is facing forecloser and your lender is COUNTRYWIDE!!!!! they are terrible. I hired a realtor to help me with a short sale. I was approved by my lender to have a short sale, but yet, I sent them 4 different offers. COUNTRYWIDE did not accept ANY of them. Over 4 months of getting 4 different offers, they said they would only accept offers that were within 80% of what I owed. Well with a condo in Pomona, they were not going to get 80% of $352,000. not now they werent.the property is worth maybe $250,000. They basically wasted everyones time and eventually they did foreclose on me. I would have loved to save my house, but this was in 2008 and they would not modify my loan because of my second mortgage.($75,000) they said the investor on my second would not budge. Well now they have a condo that they wont be able to sell for what they turned down in the 4 offers that I did give them. They are terrible and it is all ABOUT GREED. in the mean time, I lost my home. My kids lost their home. All over GREED.
I was lucky and found a great place to rent in the same area, but it was devistating to lose my home. I was a home owner for 10 years and a single mom and i worked hard to be able to provide for my kids.

I have a landscaping and recycling business and would be interested in participating with the trashout crew. Would it be possible for you to forward any information so I can be of service? I would like to help because there are alot of needy families that could use the household items. I was watching your program and realized that everything is being taken to the landfill and more than half of the items are recyclable. Its better for the environment to recycle. I feel sad for the families that have lost everything. At least a little bit of something good could come out of this because you can recycle and help other needy families with the household items left behind. If I am able to work with them I can find churches and charitable organizations to donate the items to. I understand that the gentleman on your program was told that trucks would go out to pick up the items and did not show up. All we are asking is for a chance to help rather than to see the items end up in a landfill. My company is not asking for any money and my company does have the proper insurance coverages. I hope you can help me get connected with the right person in charge. Please let me know either way by calling the number below or by sending me an email. I hope to hear from you. Thank you.
Martha Garcia
His Landscape Creations, Inc.
hislandscapeinc@yahoo.com or call (626)450-6847

The house our daughter's family was renting went into foreclosure. In due course, it went up for auction, with a minimum bid required that was more than it was worth--so, naturally, no one bought it. The bank (JP Morgan Chase) does not want to continue renting the place, nor does it want to sell it for a price that would attract a buyer, although either approach would at least bring in *some* money on the property. What gives here?

Here's what's going on. By arbitrarily setting a minimum bid for the non-auction, the bank now has a "value" for the house, on paper. When it is able to hand the house off to the proposed "bad bank" as a toxic asset, it will be able to recoup that "value" in yet more taxpayer money, which it will immediately, through loopholes if necessary, convert into executive benefits and perks. The system is rigged. Are we mad enough yet?

Its worse than that! Even when I try to bid on places the banks won't accept my offers - even when im the highest bidder! They don't want to deal with my FHA financing. Rich people are buying up EVERYTHING with cash or better loans so they can continue to get richer. REAL families want these homes. But profiteers are getting them all. Nothing was learned at all from this by ANYONE.

I was not able to see the entire show, but I must say I am very frustrated with companies like these. Make no mistake- this "housing crisis" has NOT leveled the playing field one iota. I am a potential FHA buyer with a good job and I STILL cannot buy a home despite several bank offers. I get outbid on every single property I bid on- even the wrecks. I am constantly being wiped out by rich people and companies buying up "deals" (often with cash!) in order to flip them. This only makes the crisis worse because the houses go un-purchased, and stand empty for even longer, continuing to drive down the neighborhoods. Real families want these homes- but the banks have NO incentive to help us get into them whatsoever. They look at the easiest answer for themselves that day and do not think about the bigger picture of property value at all, and obviously not about their own karma.

I was one of the unfortunates. I lost my home to foreclosure almost a year and a half ago, before the banks got any "bailout money". The taxpayers didn't loose in this political game. America lost! We forever lost to trust the government (remember Katrina), to help the people who elect them (Oh that’s right, BIG BUSINESS elects them), and that is who the government protected. Until the people, of "by the people and for the people", wake up and get involved and say enough, this crap the government and big business pulled will continue to happen. People accepting 30% interest credit cards, interest only home loans, open boarders and illegal immigration and our "representatives" representing themselves, then we will continue to loose. Ban together and stop what is going on. Look into the future, past tomorrow and get involved and take back the U.S.A.

Hi my name is Kathy we lost are home to forclosure april 8-2008 a year ago this month we had 4 days to move and we left nothing, my husband did not knopw nothign about it nor did I until sunday they came to give us cash for keys on Sunday and my husband asked what the hell was he takling about and I said I have no clue so on monday I called to make a payment and they said we did not own are house it was my Husbands Birthday so I waited the next day to tell him I did not want to destroy his day. My Daughter ans son went out to look for a home befor we told him he was mad and upset we all were we lived in the home fo 11 years my daughter lived their sence Kindergaden we were all sad but we found a house and we all pulled together and we are still a family. We took all are belongings some are in a storage unit but we have all we worked for. their are storage companies that have free trucks you can use and it cost me for the first month 19.00 so please look in to this befor you leave your stuff THE NAME OF THE STORAGE COMPANIE IS A AMERICAN SELF STORAGE THE RATES MIGHT HAVE CHANGED BUT IT NVERE HURTS TO LOOK IF YOU WANT TO KEEP YOUR THINGS.

ALSO DON'T LET A THING LIKE THIS GET IN THE WAY OF YOUR RELATIONSHIP KEEP YOUR FAMILY TOGRTHER THINGS COULD BE WORSE YOU YOU STILL HAVE EACHOTHER. WE HAVE MADE IT AND MY HUSBAND GOT LAYED OFF ALSO BUT WE STILL KEEP IT TOGETHER IT CAN BE DON JUST TAKES TIME AND COURGE. LOVE BE WITH YOU ALL. KATHY

My heart goes out to these victims of the overvalued real estate. I wish the Lenders would work with the owners to help them keep their homes because of there way-over inflated values were largely the fault of the RE & financial industries' greed. The prices should be re-evaluated down to affordable prices. After all the people in need of homes, and the few who are working don't earn enough to afford the prices, especially the OLD junk that is located in the often ghetto type neighborhoods. Capitalism is supposed to be about whatever the market will bear. Well, for sure, those business crooks have priced wage earners (and themselves) far more than what is bearable and what those properties are truly worth. It is my hope that the American business community will return to ethical behavior and conduct, and employers need to happily pay their employees a LIVING wage. Also, the bigshots need to PAY their taxes and they need to pay a lot more than the average joe. After all, they have reaped a lot more from the nation and from the employees who perform the work that create the wealth for them. In other words, be fair and righteous. I know most who should, will not even entertain my ideas because there is too much greed, hate, and selfishness in this nation and world.