Witnessed a foreclosure first hand

[andy158]

Woke up today with dogs barking and commotion at a neighbor's house. The house had been empty since February. The grass in the front yard is waist high. Sheriff's deputy was escorting a locksmith while they changed the locks on the property. Soon after, the bank's foreclosure sale sign went up in the front yard.

That really hit home. A modest neighborhood ($75k-$130k homes) and a dead end street with five homes on it. Very scary indeed.

[AngelinaCat]

Yes, very scary indeed. We have more and more homes in our neighborhood showing 'For Sale' signs, or worse yet, simply being abandoned.

Meanwhile, those people trying to rent a home, need to be aware of the rise of scams regarding properties in foreclosure. I just posted an article in the BK and Credit News forum.

[justbroke]

I almost fell to one such scam! This was before I even filed bankruptcy. My diligence in tracking down the ownership and district court filings against the owner, proved to be the best thing I ever did. Unfortunately, tenants must now do a "background" check on heir landlords as well1!!

[frogger]

We have more and more homes in our neighborhood showing 'For Sale' signs, or worse yet, simply being abandoned.

We have streets in the "nice" neighborhoods in our area that have 10-12 houses per block, with 5-6 of them for sale. No one is selling, because no one can get approved for financing without a minimum of 20% down.

[IamOld]

If this doesn't sound/look/feel like a depression, well I'll eat my 1930's style fedora (hat).