foreclosure

Jim and I went for a walk around the neighborhood earlier this week with a neighbor of ours, and his kids. (I love that we actually KNOW our neighbors!) Anyway, the topic turned, of course, to discussion of the recent home sales in our neighborhood, or lack of sales. We had a TON of investors buy in our neighborhood and those homes are sitting empty, and several have already been foreclosed. Looks like those people won’t be buying another home anytime soon, unless they get some type of debt loan - it’s not so easy to get financed for anything after you walk away from a mortgage like that!

Is your home next on the repossession list? There’s some good advice in this article about how the avoid being forced to walk away from your home. Obviously, the investors that bought in our neighborhood were positive that they WOULD sell the home and make a quick buck, and they failed to have a contingency plan, as the article suggests. The housing market scam is real, and buying a home as an investment isn’t always the best move.

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