How Not to Deal With Foreclosure
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Foreclosure is a horrible experience for anyone who has to experience it. Some people deal with it in different ways. Some turn over the keys politely, others do everything they can to refinance or find a way out of the process, others lawyer up and try to fight it any way possible. This gentleman in England tried a different way. He covered himself in gasoline and threatened to set fire to himself and the house.
A FATHER-of-two doused himself in petrol and threatened to set himself on fire after bailiffs tried to repossess his Blundellsands home yesterday.
Former mechanic Andy Lowe, 56, locked himself in, saying he would also set the house alight with his dog inside.
Police, fire crews and paramedics were called to quiet cul-de-sac Byron Road where the gas supply was cut and neighbours evacuated.
After more than four hours of phone talks with negotiators, Mr Lowe surrendered and was arrested.
Inspector Steve McNorton, who led the operation, said: “The man had claimed to have poured some petrol-based accelerant over himself and part of the building.
“He came out of the house voluntarily and he has been made safe. His clothing was taken off him and he was put in a paper suit.
So when facing foreclosure, be sensible, it is only a house.
This can be a good thing for people in trouble, but the question is still what is going to be ...
Not only is real estate a bright spot it should be a part of everyone's IRA and 401K account because ...
Okay with the market the way it is......I have found another path for real estate.....you dont become a land lord...you ...
The housing and credit markets are a mess right now. Several major banks that engaged in questionable subprime mortgage lending ...
Also, check out new private contracts that can allow you to guarantee that you will not loose your investment in ...
Brilliant use of promotion. Here it is being used on Reseda Blvd in Northridge, CA at Meridian Place Apartments! Wow ...
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
Comment by Ugo on 16 January 2006:
I found your site by accident and read some of the pages. Could you post one of your articles on Real Estate Entrepreneurs for our readers?
Many thanks.
Ugo
http://www.real-estate-entrepreneur.com/
Comment by retro on 20 October 2007:
I have been dealing with Wells Fargo…or not dealing should I say. I called ahead of time when I could see that my husbands job was not going to bring in the “regular” amount of pay just to see if we could defer a payment to the end of the loan. Wells Fargo said the most ridiculous thing to me, and trust me , this girl was not kind in any sense of the word….”We can’t help you until you are behind on your payments.” I told her that I would rather be pro-active than re-active. She said “I told you, we can’t help you until you are behind on your payments. And I am going to warn you now that if your payment gets behind that we will charge you $900 to send an inspector to your home to see that you are still living there.” I have since called back to get another person on the phone. She told me the same thing..but a bit nicer. This all started after a “friend” told me to do this “amazing arm loan.” They explained it to me but I didn’t understand and they kept hyping it up and telling me it would be fine. I re-financed with Wells after I figured out the way the arm was working but the damage was already done. I had to do stated income because of having a commission job and my husband owned his own business. This forced us into a higher interest rate. Our payments have been $2500 for more than a year but our income has been cut in half due to the economy and our lines of work. I don’t want to loose my home, but the inevitible is happening. I was hoping to have time to try and sell it but if Wells Fargo is so hip on foreclosing, I may not get a chance to sell it before they take it back and let it sit empty and rotting. My husband and I have put so much hard work into this home to make it what it is today that I don’t know if I could take watching it rot. This is very hard for me and I have found myself extremely depressed. I hope I am able to get over it soon. This kind of thing just makes a person feel so stupid and embarrassed. I take some of the blame..at least half.
Comment by nabil on 20 March 2008:
my advice to every one that if you are behind your’e mortgage more than three months , do not try to get any loan or any refinance just stay in your’e house as long as you can , when you receive a foreclosure date just take your’e stuff and live , if you did some work in your’e house just take what ever you can , if you try to fight you will loose , you will get stress out more and more if you try to refinance they will give you higher interest rate if you try to get a loan they will rip you off then you will be in more debt more dept more dept then you will get stock just live the house rent a place after two years buy a house , don’t think that you will never get a house ,