A week and a half ago a moving truck was three doors down from me, and the house is now listed as a short sale.
Last weekend the house across the street had a moving truck, and now their home is listed as a short sale.
Last night the house right next door had a moving truck, and this morning they are gone for ever. I am only left to assume that their home as well will be a short sale. The feeling of moving in the middle of the night in hopes that neighbors don’t see, has got to be one of the toughest life experiences to go through. My heart pours out to everyone that is left to this alternative and I hope for the best to every single one.
I have been in denial about my home’s value depreciating the 60-70 thousand dollars from we bought it in 2006. However we walked in with a huge down payment and our loan to value ratio is still holds strong.
August will be the highest foreclosure month in history. I was considering the fact that a true depression is possibly on its way. In the 30’s it was the collapse of the stock market and banks. Today it is the collapse of the banks holding on to defaulted loans that exceed billions of dollars that is tied up and is gone for good, with bad notes in the collapsing housing market. We have already seen some banks close their doors and the need to have the FDIC take charge. I guess survival for the fittest is what we need to prepare for
I am absolutely frightened of what is to come. Will there be a day when utilities become a luxury?
