A Positive Side To The Foreclosure Mess?
Foreclosures are still hot and heavy, although they’ve started to slow down in some areas that have been hard hit. The reason they’ve slowed is because at some point there could only be so many homes left that could be foreclosed upon; it’s certainly not that the economy has improved all that much.
The strange thing about all of this is that more families are able to stay in their homes longer because there are so many homes that have been foreclosed upon. That and the mess that was caused by companies that were robo-signing foreclosure notices without making sure all the paperwork was completed or if the foreclosures were legal to begin with. I don’t think there’s a person in the country other than the people that work for Bank of America that weren’t happy when one of their banks was foreclosed upon because of a judgment won by a man they had illegally sent for foreclosure.
Now, this does seem like a good thing for those people who had nowhere to go and thus are able to stay in their homes longer, but one has to hope they’re trying to do something about their situation. Everyone who’s foreclosed upon has an opportunity to get out of it if they can get the money together to start making payments again, and banks have been working with those people who are suddenly able to continue making payments on homes. Whereas I think in the past banks looked at foreclosed properties as a second chance to make money off of a home, I believe they’d rather not have to deal with as many foreclosed properties as there are now.
So take the gift you’ve been given because of the system and please work as hard as you can to find the money and keep your home.