Home Buying in 27332>Question Details

Debora Bradf…, Home Buyer in Sanford, NC

If home owner ship is still the all American dream why are they over priced way to high and so many people loseing them to foreclosuer and banks greed

Asked by Debora Bradford, Sanford, NC Thu Feb 10, 2011

it is being said that todays economy is worse than the days of the Great Depression Or near it. So many people out of work. So many Families losing the American Dream as you all call it. Has litterly been taken away from
many people today. People that did there living and dieing in America I should know I am one of them.
When my husband lost his job we lost everything. We had to sale our home just before it went into foreclouser. We did not get much money in return the bank took it to pay off the loan. We had just enough to paqy the rent on the place we now rent for one month and enough to buy 2 beds queen size, not bedroom suites, just the beds. I wonder if we could ever own a home or anything ever again? It sure is hard this way.

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I am so sympathetic to your situation. To many good, hard working Americans are paying the consequences for the greedy financial institutions of today. I would encourage you, as I do everyone I see effected by this government approved corruption, (I am not a conspiracy theorist) to check out this website. It will leave you in absolute disbelief.

Kindest Regards,

Jeff Monfils
Director North Carolina Operations
BIC / CFA / CSSA
Bastille Real Estate
Foreclosure Avoidance Consultants
3611 Mt Holly-Huntersville RD Ste 204-310
Charlotte NC 28216
704.975.7616 | 888.807.4848 ext. 505 | Fax 866.662.3929
http://www.BastilleRealEstate.com
Philippians 2:3&4
1 vote Thank Flag Link Fri Feb 11, 2011
Debora,

We are sorry the you find yourself in this distressing situation.....because this is so wide spread and so many people our lives touch daily are dealing with it, I've given this subject great consideration and have some thoughts to share.

As I see it, the dilemma we find ourselves in the midst of is a direct result of three issues: dreams, greed, and the watchman.

We teach our children the it's important to dream, have goals, and aspire to always do your best. This transulated into the housing market found people, including myself, reaching out for a goal the was really beyond our means and yet still obtainable.....this was a wonderful fulfillment of personal dreams in the beginning but a disaster in the end.

The "American Dream" was at its peak when greed entered the picture and the banking industry began qualifying people for loans that should never have been approved. Over and over by the tens of thousands people were provided with resources that far exceeded their means. The entire banking system participated in "preditory lending practices" a term that banks will likely never accept.

As money was being dolled out almost as fast as it could be printed someone should have been paying attention to all of this. The "watchman" let down their guard and it has cost the American public dearly....in ways that cannot yet imagine.

Thus, we are left to deal with a sad tale that should never have existed. We are left with our dreams that will hopefully be the guiding light that gets us through this horrible mistake.

To the future,

Bill
1 vote Thank Flag Link Fri Feb 11, 2011
Hi Debora, We know and have heard so many stories like yours. Some of the People are in their late 60's and 70's who were until a few years ago doing very well and looking forward to retirement. It's a sad state of affairs. Who to Blame ? There's a list of People to blame, however WE THE PEOPLE can still stand for something. If you've ever watched the movie Seabiscut it talks about the great depression and how so many got together, worked together and bought life and the American Dream back into being. HOPE and understanding that sometimes things happen that we as the American People should of known and stuck together years ago to prevent alot of whats going on today. Without a doubt we believe it's always been Corporate Greed that has caused a great deal of what your experiencing.
Now is the time for We the People to stick together, throw out the blame list and take action in our own lives and in helping others. Even if it's a small start like giving some old clothes or couple cans of food to someone who needs it. Little things mean alot as was true in the Great Depression.
We don't believe it's as bad as back then but we're close and currently pulling out of this bad sisuation.

If you hang in there and work towards rebuilding your credit such as getting a fingerhut account which generally will give you credit without a credit check and pay on time and alittle extra then little by little along with another form of credit you'll start to regain your credit score. Save what you can if any. If you can get a job and hold on for about 2 yrs of renting, building your credit and saving what you can, you may be able to buy a home again.
They say it takes 2 yrs to go really broke and down and out and 2 more years to be back on top of things with buying power.
By saying they we know first hand of this and so many that we know are living proof of it. So hang in there
things will get better.

All the Best

Dave & Lisa
Web Reference: http://www.urhomerealty.net
0 votes Thank Flag Link Thu Feb 10, 2011
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