Repossess your foreclosed home?

This post was published 8 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

That’s what this lady did. She says here that she lived in her home for 24 years before a medical problem set her back financially. Apparently unable to work something out with the lender, she was foreclosed out. She has decided to move back in to her home, calling it repossession. The lender calls it trespass. We are left to decide the true meaning.

I know from direct experience that banks and government have well-oiled foreclosure machinery at work. Meanwhile, loan modifications and successful short sales are random exceptions. We don’t know the entire story here, but on the surface the question is clear. What should it mean to a civil society that one can pay 24 years of a 30 year mortgage, only to be bankrupted by a medical emergency? Both the mortgage industry and the medical industry are for-profit enterprises. Just doing their job.

What of the human cost?

Read the repossession story at the link. Back when I worked for banks and government, helping them sell foreclosed homes, the eviction “stories” became real people to me. Kids, and dogs, and crying mothers. I think we forget that, perhaps deliberately. The human cost.

Repossessed in Oakland

 

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