Financing in Laguna Beach>Question Details

Sarah, Other/Just Looking in Laguna Beach, CA

What is the average age of people who go into foreclosure?

Asked by Sarah, Laguna Beach, CA Sun May 3, 2009

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Hi Sarah
I have seen all different peoeple of all different ages going into foreclosure,,it is not the age ,different reasons and different factors but one main factor contributed to the increase or decrease of the foreclosure rate is fear/and or greed.
Good Luck.

Broker Associate
561-843-7010 Mobile
1 vote Thank Flag Link Sun May 3, 2009
It is more a financial. More of the lower priced homes ended up going into foreclosure because they bought a house on too tight budget and one little thing got them into trouble.
0 votes Thank Flag Link Wed May 20, 2009
Sarah, here's the short, but most accurate version: Foreclosure has no age boundary.
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0 votes Thank Flag Link Wed May 20, 2009
Hi Sarah,

Unfortunately Foreclosure has no age boundary. There are homeowners in their 20s all the way up to retirees in their 80s that have been foreclosed upon. Its really sad that something like that has to happen to good people just trying to make an honest living. Most people turn to family in times like these. I have seen families living in their campers on the driveway of a relatives house. In other cases 2 or three families move in together. The only thing they can do right now is just band together and ride out the storm. The market will eventually correct itself and both the housing market and the economy will come back. If fact there are already signs that the housing market is starting to bounce back as it has hit bottom. For more information on everything from homes to financing and beyond visit my website at I have many free tools you can use in your home search. I can also put your home search on auto pilot by putting your search criteria into my system. That way when something is listed that meets your criteria you will receive an automatic email update and be one of the first to see the listing. I can also assist you with you financing needs as well. I can prequalify you with one short 30 min phone call. You can also fill out my pre-qualification form on my website under my mortgage center tab from the home page.

Best Regards,

Michael G. Grimm, Realtor
Loan Consultant, Loan/Debt Modification Consultant
Available Monday - Sunday 9 a.m. - 9 p.m.
(877) 444-3993 (toll free direct)
(949) 547-3957 (direct)
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0 votes Thank Flag Link Wed May 20, 2009
It is sad but this has affected all ages. I know of some in their 70s and 80s who have lost their home. When you are young there is time on your side to get back on your feet but not when you are retired and this was to be your last home. I can only pray they have family to help them.
0 votes Thank Flag Link Mon May 4, 2009
Hi Sarah,
I don't know of any resource that tracks the ages of people who sadly, lose their homes in foreclosure. There are some foreclosures in Laguna Beach, but not nearly the numbers that are occurring in other cities. We do have some short sales and again, not as many as other cities. Prices have definitely come down, I just previewed a home this week that was asking 1.3m and would have been asking 1.9m or so a year ago.
Best Wishes,
0 votes Thank Flag Link Mon May 4, 2009
Hi Sarah,

AJ is correct. I have worked with people of all ages - from the very young to the long-retired. It's their individual circumstances that determine the foreclosure. Some people just wait far too long before listing their homes for sale. Even if their mortgage is more than the proeprty is worth, they are better off working with a REALTOR to list and sell the property at a price the lenders will be willing to accept rather than letting it go by foreclosure.

I hope this helps,

Thom Colby
Broker & REALTOR
Orange County, CA
Web Reference:
0 votes Thank Flag Link Sun May 3, 2009
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