Eviction Day: Foreclosure Crisis Forces Man From Home
by Tony on November 13, 2009
In the third quarter of 2008, more than 700000 Americans faced foreclosure — a new and troubling record. While mortgage giants Fannie Mae and Freddie Mac announced last month they would temporarily halt foreclosures and evictions from Thanksgiving to Jan. 9, the moratorium is likely to affect only a small percentage of homeowners. On a cold December morning, ANP witnessed an increasingly common, but rarely documented, tragedy: someone being evicted from his home….
I love that scene in “Bonnie and Clyde” when they run across a family that has been evicted because the bank foreclosed on their farm. Clyde gives the man his gun so that he can take a few shots at the house before they leave. That is so cool!
There’s no room on this video to state your 30 year fix I told you so.
The guy became a legal citizen. Worked his ass off to buy the home and fixed it up only to be schemed by agents, brokers and lenders. Add all his efforts together minus his one mistake in trusting, makes him a way better person than you.
We The People (through the election process) should have equal seats and voting power on the Federal Reserve Board. The FED care’s only of bailing out the CEO’s of Wall Street & the Bank’s.Not the familie’s that are losing their homes to foreclosure.Enough of bailing out Wall Street and the banks with our money from the FED and we have no say in it. It’s time we deep-six the FED for the sake of the working class people of our nation.
Why not sell the house to an investor and rent it back to this person. Put him on a three month contract and record it at the court house that if he doesn’t pay he is out. What’s the hurry to move him out?
Julio, I have a nice apartment for rent…only $950 per month. Some people are meant to be renters. How does a house painter buy a house for $280,000. painters earn an average of $120-150 per day.
That Remax Realtor probably sold him the house at the peak (a great time to buy) and will sell the foreclosed house to another sucker because it is also a great time to buy.
You are exactly right about some being meant to be renters…..and there is nothing wrong with that, you rent if you can afford it, you buy if you can afford it.
When in God’s name will Americans learn to leave with in their means and stop trying to keep up with the fads?
All this agony is the result of a government that failed to protect its citizens. It used our property taxes to run streets and sewers into cornfields, so it could raise more tax dollars issuing building permits to build homes that pay even more property taxes. All financed by loans that never should have been allowed, so people who weren’t ready to own homes could buy homes that never should have been built.. Now with 20 million homes sitting vacant, we’re supposed to blame poor guys like this?
His payment jumped from $1400 to $2600 because the Federal Reserve raised interest rates 17 times between June ‘03 and June ‘06. This coincided perfectly with the re-sets on 3 and 5 year adjustable rate mortgages from active 2001 and 2003 mortgage blizzards. Are we now absolving the FED for their incompetance, corruptness, or hidden agenda (take your pick), so we can blame the victims of the temptation and dashed dreams? Let’s not allow the media to re-write the history books. 17 rate hikes!!!
oleg, get a grip. Youre part of the problem. you call $950 a reasonable rent for this guy? I hope that includes heat. The average laborer or para-professional gets a generous wage at 15.00 an hour. If he is making that (which comes out to be around $32,000 /year before taxes), Then he should spend no more than $550 per month on rent, or as much as $625 if it includes heat. This is equal to the 35% (standard figure) of AFTER-TAX income for housing (that figure includes heat and utilities)
At the low end of $1400 for a mortgage, the payer should be realizing a salary of approximately $75,000 a year. The salary of say, a senior systems analyst, or maybe a corporate middle manager. At 2,600, the salary should be almost double, about $130,000 a year… Thats a lawyer’s salary… So tell me. Is something broken with our great American dream…? A true living wage on one salary at no more than 40 hrs/week. We had that once, we need it again. Greed of the richest few is to blame
Let’s face it. Houses are sold for way more than they are worth. Why hasn’t anyone considered that rather than blame the banks and even the buyers? Stop the madness. Bring real estate down so people do not have to live on the streets.
And now he’s homeless, so the home can sit vacant for a year while the bank drags its feet selling it to a speculator for 35 cents on the dollar (destroying the comps for all the surrounding homes). Only a fool who works for the government could endorse the immorality of this. May God bless this man.
I thought the Cop was going to hand him a box lunch and the Realtor looked like he was going to give him an orange.
The man knew the terms. He could not pay. If you don’t know how much its going to cost you then don’t buy. I don’t feel sorry for people who borrow money. Your borrowing money. What you see here is someone that does not own what he lived in. Now because of irresponsible handling of his life he’s out the door.
Evictions from one’s home are hard only on those who vote for Green Party and Socialist, and pets and children. Democrats and Republicans LOVE being homeless, LOVE throwing their money away on corporate welfare, drug war, massive gov’t intrusion into people’s lives, coddling up to freeloading tax-break religionists.
This problem will be solved only if one treats those who won’t do the simple act of voting for Ralph Nader, Green or Socialist as the terrorists that they are: annihilate them.
some one research that guy i bet he’s homeless now or passed, and there the suited bank guy sitting on a 6 figure salary just got to put another human being on the streets i hope he feels good about himself
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I love that scene in “Bonnie and Clyde” when they run across a family that has been evicted because the bank foreclosed on their farm. Clyde gives the man his gun so that he can take a few shots at the house before they leave. That is so cool!
There’s no room on this video to state your 30 year fix I told you so.
The guy became a legal citizen. Worked his ass off to buy the home and fixed it up only to be schemed by agents, brokers and lenders. Add all his efforts together minus his one mistake in trusting, makes him a way better person than you.
god how hard- a huge failing of our government.
I will not take any mortgage unless it is a fixed rate mortgage. I should be made illegal for a bank to have a variable rate mortgage.
We The People (through the election process) should have equal seats and voting power on the Federal Reserve Board. The FED care’s only of bailing out the CEO’s of Wall Street & the Bank’s.Not the familie’s that are losing their homes to foreclosure.Enough of bailing out Wall Street and the banks with our money from the FED and we have no say in it. It’s time we deep-six the FED for the sake of the working class people of our nation.
QUE POCA MADRE !!!!
QUE POCA MADRE !!!!
Why not sell the house to an investor and rent it back to this person. Put him on a three month contract and record it at the court house that if he doesn’t pay he is out. What’s the hurry to move him out?
Julio, I have a nice apartment for rent…only $950 per month. Some people are meant to be renters. How does a house painter buy a house for $280,000. painters earn an average of $120-150 per day.
That’s fucked up, i hope he found a new place. Fuck remax pinche punto bendaho!!
That Remax Realtor probably sold him the house at the peak (a great time to buy) and will sell the foreclosed house to another sucker because it is also a great time to buy.
You are exactly right about some being meant to be renters…..and there is nothing wrong with that, you rent if you can afford it, you buy if you can afford it.
When in God’s name will Americans learn to leave with in their means and stop trying to keep up with the fads?
That’s the best thing that could have happened to that guy. Next time he’ll know what the letters “ARM” mean.
All this agony is the result of a government that failed to protect its citizens. It used our property taxes to run streets and sewers into cornfields, so it could raise more tax dollars issuing building permits to build homes that pay even more property taxes. All financed by loans that never should have been allowed, so people who weren’t ready to own homes could buy homes that never should have been built.. Now with 20 million homes sitting vacant, we’re supposed to blame poor guys like this?
His payment jumped from $1400 to $2600 because the Federal Reserve raised interest rates 17 times between June ‘03 and June ‘06. This coincided perfectly with the re-sets on 3 and 5 year adjustable rate mortgages from active 2001 and 2003 mortgage blizzards. Are we now absolving the FED for their incompetance, corruptness, or hidden agenda (take your pick), so we can blame the victims of the temptation and dashed dreams? Let’s not allow the media to re-write the history books. 17 rate hikes!!!
ron paul 2010
Do they make sure the people have a place to go first?
LOL ! Your so funny !
Simply Put : ” NO ” !
oleg, get a grip. Youre part of the problem. you call $950 a reasonable rent for this guy? I hope that includes heat. The average laborer or para-professional gets a generous wage at 15.00 an hour. If he is making that (which comes out to be around $32,000 /year before taxes), Then he should spend no more than $550 per month on rent, or as much as $625 if it includes heat. This is equal to the 35% (standard figure) of AFTER-TAX income for housing (that figure includes heat and utilities)
At the low end of $1400 for a mortgage, the payer should be realizing a salary of approximately $75,000 a year. The salary of say, a senior systems analyst, or maybe a corporate middle manager. At 2,600, the salary should be almost double, about $130,000 a year… Thats a lawyer’s salary… So tell me. Is something broken with our great American dream…? A true living wage on one salary at no more than 40 hrs/week. We had that once, we need it again. Greed of the richest few is to blame
Let’s face it. Houses are sold for way more than they are worth. Why hasn’t anyone considered that rather than blame the banks and even the buyers? Stop the madness. Bring real estate down so people do not have to live on the streets.
And now he’s homeless, so the home can sit vacant for a year while the bank drags its feet selling it to a speculator for 35 cents on the dollar (destroying the comps for all the surrounding homes). Only a fool who works for the government could endorse the immorality of this. May God bless this man.
I thought the Cop was going to hand him a box lunch and the Realtor looked like he was going to give him an orange.
The man knew the terms. He could not pay. If you don’t know how much its going to cost you then don’t buy. I don’t feel sorry for people who borrow money. Your borrowing money. What you see here is someone that does not own what he lived in. Now because of irresponsible handling of his life he’s out the door.
Evictions from one’s home are hard only on those who vote for Green Party and Socialist, and pets and children. Democrats and Republicans LOVE being homeless, LOVE throwing their money away on corporate welfare, drug war, massive gov’t intrusion into people’s lives, coddling up to freeloading tax-break religionists.
This problem will be solved only if one treats those who won’t do the simple act of voting for Ralph Nader, Green or Socialist as the terrorists that they are: annihilate them.
some one research that guy i bet he’s homeless now or passed, and there the suited bank guy sitting on a 6 figure salary just got to put another human being on the streets i hope he feels good about himself
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