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Am I a bad person for losing my home?

Reblogger
Real Estate Broker/Owner with Palm Realty BK3273458

 

Tony really makes a good point here.  I know that I have adjusted my thinking on this topic in the last couple of years.  Perhaps if lenders made modifications less difficult, things would not be so bad for some home owners out there.

 

Original content by Tony Lewis BRE# 01215778

Am I a bad person for losing my home? Hell No!!!

We all got caught up in the most horrific and legal Ponzi Scheme in the history of humanity!  The Federal Government, lead by both parties, made it a goal to make home ownership possible for everyone.  This lofty yet unrealistic goal lead to prices rising for 3 straight year at about 27% 22% then 18%.  The last year of this rise was 2005.  Prices continued to rise for another year and a half even though the market had already began to collapse.

It is wrong to blame a person that bought a home out of fear and paid $700,000 only to find the value to be $300,000 just 2 years later.  Even if this home owner could afford to pay the mortgage they would be burning up their family's future.  It may be honorable to pay a mortgage of over 2 times what the home is worth but is it wise?

These were people that had a choice but how about the person in this situation that have lost their jobs or had other catastrophes hit them?  Should they be crucified for being unable to sell the home at a price that gets them out of debt?  I think not!!!

Have a Happy New Year

Your Friend & Realtor,

Tony Lewis * RE/MAX of Valencia, Ca. www.TonyLewis.com tonyglewis@yahoo.com 661-702-4720

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Posted by

Kerry

 If You have any questions about homes on the Space Coast, the Treasure Coast or in the greater Orlando area, please contact me at  321-626-5968.  Visit us on the web at

www.PalmRealty.com

Posted By: Kerry Klun - 321-626-5868
kerry@Palmrealty.com

Palm Realty

             

Comments (2)

John Michailidis
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

Kerry:  Four years ago I might have thought differently, but after seeing what the bankers and politicians have done, and are getting away with, my heart and energy is 100% directed towards the property owner. --JM

Dec 30, 2010 04:56 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I was a Homeowner Fraud Investigator for Los Angeles before I became a Realtor.  The banks ripped is off on the loans and then the Federal Government help them out with our money.  The Federal Gov. develops a loan modification program that is another way for the banks to rip us off.  After that we are told by the same Gov. that those who tried to play by their rules cannot get a loan for 7 years because they had their homes foreclosed.  This the biggest fraud I have ever seen.

Dec 30, 2010 05:28 PM