Living After Foreclosure

RSS Feed

Foreclosure information, celebrities in foreclosure, and more




The artist formerly almost in foreclosure

April 23rd, 2011 · No Comments

The artist formerly know as “The Artist Formerly Known as Prince” — also known as, well, Prince — was almost in foreclosure on a piece of land in Chanhassen, MN.  Apparently the artist made a last-minute $368,000 payment to “balance out the mortgage” and hence take the property off of the auction block. Getting to […]

Continue Reading Entry... »

→ No CommentsTags:

Short sales are hard if you’re the short seller

October 3rd, 2010 · No Comments

This post over at Debt Kid is funny, in a macabre sort of way.  It illustrates first-hand how badly you should try to avoid being the person selling short in a short sale. In a nutshell, a short sale is a sale of a property for less than what’s owed on it.  It’s meant to […]

Continue Reading Entry... »

→ No CommentsTags:

Four smart tips to take out a mortgage after foreclosure

August 28th, 2010 · No Comments

If you are a victim of foreclosure, you do not need to consider it as an endless suffering. Foreclosure does bring upon you financial disaster but it does not end your life. You can regain your financial condition, even after you have encountered a foreclosure. You can usually get a mortgage after 2 years of […]

Continue Reading Entry... »

→ No CommentsTags:

Don’t expect banks to be nice to you for buying their foreclosures

February 13th, 2010 · No Comments

We just purchased a new house this week.  It happened to be a foreclosure.  It was in excellent shape even compared to a house not in foreclosure. I have to say, though, the seller jerked us around quite a bit throughout the whole process.  That wasn’t pleasant at all.  But we ended up getting the […]

Continue Reading Entry... »

→ No CommentsTags:

Strategic default? Banks are on to you

October 27th, 2009 · No Comments

Few states have been hit harder by the foreclosure mess than Florida.  Properties in some areas are worth half of what they were at their peak.  A sizable number of underwater borrowers — those owing more than their homes are currently worth — have simply stopped making payments on their mortgages, using the extra money […]

Continue Reading Entry... »

→ No CommentsTags:

Patron saint of foreclosures?

August 14th, 2009 · No Comments

Poor St. Joseph.  He can’t catch a break these days. Folks are buying St. Joseph (husband of Mary) figurines and burying them, upside-down, near the For Sale sign in hopes of bringing a quicker sale. Prayer sure doesn’t hurt but this is a bit off the deep end.  I had heard about this practice several […]

Continue Reading Entry... »

→ No CommentsTags:

Well, this is one way to get rid of unsold homes

May 13th, 2009 · No Comments

If this story is true, this is an ugly development.  (It’s a guy with a video camera, so who knows.)  Banks are allegedly paying to destroy new and unfinished homes that they own rather than pay mounting fines imposed by local government for allowing the homes to stay vacant and poorly maintained. The only people […]

Continue Reading Entry... »

→ No CommentsTags:

Big jump in foreclosures: Who’s immune?

March 13th, 2009 · No Comments

Probably not too many people.  Though California, Arizona, Nevada, and Florida are still the poster children for the housing carnage, Idaho, Illinois, and Oregon are up-and-comers.  Foreclosures for February 2009 are up 30% from February 2008 levels.  Seven hundred thousand properties owned by banks haven’t been put on the market yet. What may make the […]

Continue Reading Entry... »

→ No CommentsTags:

My workplace is turning into an MLS

February 10th, 2009 · 1 Comment

Maybe yours is too. Over the past few years I’ve seen people occasionally posting a place for rent or sale.  Usually not too often.  For the past couple of weeks, I’m greeted each day with four advertisements for property.  Three of them are looking for renters. It might be just that lots of people have […]

Continue Reading Entry... »

→ 1 CommentTags:

Upside down? Prepare now to keep your mortgage current

January 22nd, 2009 · No Comments

Plonkee Money is going upside-down a little bit on her mortgage, and is getting a little worried.  She can afford the payments, but she’s concerned that if she were to be laid off she might lose everything. This is a valid concern, and she’s wise to consider how to allocate her resources to protect herself […]

Continue Reading Entry... »

→ No CommentsTags: