Telling neighbors about foreclosure?

[tkharvey]

Just curious, are you informing your neighbors about your upcoming foreclosure? We are walking from our house in the next sixty days. Just wondering what we should say before we leave, if anythng. Our street is so nosy....I do feel badly that our yard will start looking terrible (we have always taken pride in our home). We've just never been through anything like this. I know it's nobody's business and we are doing what is necessary for our family.

[monkatom]

some neighbors came up while I was filling up my uhaul to see what was going on. I told them flat out I could not make the payments and was letting the house foreclose. They did not know what to say and seemed shocked that I was honest. Word soon spread and most neighbors stopped by to wish us luck.

[lrprn]

Whether a bk filer decides to tell their neighbors they are losing their home to foreclosure or not is really up to the filer.

Since most foreclosures eventually end up being auctioned off, the neighbors are likely to find out eventually anyway when the home lender posts the auction signs in the neighborhood and in the home's yard. (At least, this is what happens in our area when homes are foreclosed. No secrets here in the midwest.) However, since the filer is out of the house by then, they don't have to face the neighbors if they choose not to do so.

[HakunaMatata]

Foreclosures are new to my 1/2 square mile city and I know there have been mixed reactions. The neighbors I interact with frequently are well-aware of my future foreclosure. They've watched me struggle with this money pit for years; and, they recognize this is a solid business decision. No one has expressed personal concern for further reduced property values (some have even expressed jealousy). Instead, they've been very supportive and encouraging. If other neighbors wish to harshly question my actions, I intend to respond with a question...would you invest in a losing investment? In light of our current economy, I don't think many can successfully argue against my actions.

For those concerned with gossip or negative reactions, save your energy. These gossiping neighbors won't surround you in the future. An added benefit of moving on.

[Mi Bankruptcy]

My neighbor just had his house foreclosed on. He told me before he left. He just said they had a new home and was moving. Later that day I seen a sticker on the door. I had mentioned that I knew he was out of work and was wondering if the house was being foreclosed on. I tried to lead instead of making him tell me. I wished him luck in his new home and hoped he was happy. He had gotten a divorce and let his house and yard go..Real sad. I did notice a house on the way to work where the neighbor must cut the yard to keep a neat appearance. I considered doing the same thing for my neighbors house except the gutted the place too the woodstove and hotwater heater and the inside was horrible. I cant see anyone buying the home unless it is with cash.

[AngelinaCatHub]

Foreclosures are new to my 1/2 square mile city and I know there have been mixed reactions. The neighbors I interact with frequently are well-aware of my future foreclosure. They've watched me struggle with this money pit for years; and, they recognize this is a solid business decision. No one has expressed personal concern for further reduced property values (some have even expressed jealousy). Instead, they've been very supportive and encouraging. If other neighbors wish to harshly question my actions, I intend to respond with a question...would you invest in a losing investment? In light of our current economy, I don't think many can successfully argue against my actions.

For those concerned with gossip or negative reactions, save your energy. These gossiping neighbors won't surround you in the future. An added benefit of moving on.

I fully agree. Some people rally in other peoples problems. Tell any or everyone, with pride, that you have made a life changing decision and are improving your life style in the economy we now have. Here it all is in a nutshell:

1. Matthew 7:6
Give not that which is holy unto the dogs, neither cast ye your pearls before swine, lest they trample them under their feet, and turn again and rend you.

Those who would judge you are not your friends anyway. "Flip 'em off".
'Hub

[tkharvey]

'Hub'....great advice. That's exactly what my mother in law said. Tell them you're "upgrading" your situation. I'm normally not that concerned about what other people say, but we live in a "Knot's Landing" type of environment....only twelve houses on this gated street where everyone seems to be in everyone's business. Another good reason to walk away from this place....

[albacore44]

I live in a neighborhood where the homes increased in value very fast during the boom. many spent there short lived equity on Motorhomes, boats, and other toys. the market here has plummeted and homes are worth 40% of what they were in 2007. the unemployment rate in this county is second only to Michigan. many who are forclosed on dont tell anyone, they just move out during the night, pulling a trailer with their belongings behind their Motorhome. Its very easy to pick out who is about to go under. you look at the Lawn. If its drying, and not getting enough water, you know they cut back on it to save $$$

[Dizzy]

Hmmm. Listen to my situation....we are moving out of our home which is about to go into foreclosure and moving right next door into a rental home. Talk about awkward. I am in total survival mode and I don't care WHAT the neighbors think.

[debtprison]

Hmmm. Listen to my situation....we are moving out of our home which is about to go into foreclosure and moving right next door into a rental home. Talk about awkward. I am in total survival mode and I don't care WHAT the neighbors think.

That's the way to do it. Sounds like a nice deal being able to move right next door. Look at it this way, you'll find out who your real friends were and are.

[HakunaMatata]

Hmmm. Listen to my situation....we are moving out of our home which is about to go into foreclosure and moving right next door into a rental home. Talk about awkward. I am in total survival mode and I don't care WHAT the neighbors think.

You're correct...we shouldn't concern ourselves with our neighbors' unwarranted opinions. Many people don't have the knowledge or courage to make the right decisions when healthy survival is at stake.

Cheers to you for moving forward (even if you're physically moving sideways ). Just think...no moving costs! Woo hoo! (I actually purchased a house across the street from my former rental. It was rather amusing pushing vacuums and such across the street!).

[killinstinct]

It's tough, at least for me, but one of the lessons of this experience has been to STOP CARING what other people think. It's part of that whole "keeping up with the Jones'" mentality.

I paid a neighbor kid to mow our lawn etc, just for some piece of mind. Most of our neighbors were jerks though, and nosy, and pretentous (we live in one of those "mcmansion" type neighborhoods). I don't miss it one bit, and we've been out six months.

[Dizzy]

I know what you mean, killinstinct. I told my neighbor on the other side of me what we were going to have to do and now she's avoiding me. I guess she's mad because her property value might go down. She didn't, however, offer to give me any money to catch up on the mortgage! I'm sure by the time I make the move all the neighbors will know already so seeing me moving furniture next door shouldn't shock anybody. However, if they're not nice, I won't keep this lawn up and I'll really give them something to gripe about! Haha!

[killinstinct]

I'm sorry to hear that your neighbors suck Dizzy. Ours were the same. But look at the bright side, they're not your neighbors any more! Jerks!!

[NewLifeAhead]

killinstinct.... Good luck with your 341 tomorrow! Hope it's an easy one.

Down the road a bit we will be moving out of mcmansionville as well. Saving right now but can't wait till we move and get all of this behind us. Nothing like a smaller place, less utilities, no more worrying what others think and starting a peaceful debt free life.