house auctioned off today


Posted by allie on January 27, 2009 at 17:26:03:Just sharing my ironic situation.... We moved into a smaller home owned by my husband in the Fall of 2007. It is less expensive than our other house and would generate less rent. We rented our home to a friend and coworker, she lost her job, moved out, and out of state. ( From Florida) and then it took four months to rent again. Rents had fallen to way below our mortgage value. We had a long term rental and in the meantime applied for modification with WAMU at my request, could only help if late. So became late, then they lost my applications , had this paper but not this one, never received items even though return receipt. Filed for foreclosure and served me in April.Well tenants found out, and stopped paying rent. We finally had to evict them as they were preventing viable showings as we had house for sale by owner and then realtor. To point of coming out of shower with no clothes etc. Or dogs scaring people viewing the home. OR telling them not to come in. Finally got an offer, but her bank took so long to finalize her loan, all the requirements changed and she expired and could not reapply....so by then delayed foreclosure. Relisted, many viewings but property values plummeted. Bank not working with us at all.

Finally got an offer, a low one but an offer, and the bank did not get back and foreclosed at an auction for 100 dollars to the bank this morning. In a way I am relieved that it is gone, it has not been lived in since June. I am a teacher and cannot pay for two homes and husband is out of work. Just sharing our ordeal, and the realtor is mad, and yes I could have cancelled or delayed again, but people only put down small deposits and are willing to walk away, so no security in possible sales and closings. Becoming a liability. Taxes not paid, second mortgage, new pool turning green, and grass needing to be cut. Endless hassles.

I know no advice but just know you are not alone. I guess in a way I am happy to know it is over, yes my credit will be toast for 7 years, butI will rebuild it. I have good credit otherwise, no other issues, and have a car, and a home. I am not homeless and have a supportive family, and a good job. I did not have to be moved out by a sheriff, so in a way I am a fortunate person. In Florida this happens daily. I have friends who call for help, and they say to them, we are helping last years people. What do you want to live for free? no, just help. I am not sure right now who they are helping, but I find solace that I am not alone.

I live in South Florida. Today there were 50 houses auctioned with mine, now that is a commentary.



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