i've just had a conversation w/a friend about this very topic. i read recently that stockton, ca is ground zero for foreclosure, and i wondered about the very same thing, about the families who used to live there, where are they now. there're many people are suffering now, sadly. i guess you do what you need to do to live.

Thanks for the highlight. I think that most first time homebuyers (or at least us) need a lot more information before they sign the papers.

We will need our churches to step up now more than ever!  The Christian thing to do is to initiate programs - especially for families in these types of situations - to help them get back on their feet. We have one such program in our area.  The people are NOT given a "handout" - they are given a "hand up" - there is accountability - and the help ends once they have a place to live, etc.

Our foreclosure has actually been a blessing. When we move out (we're still attempting to short-sell), we will move into a 37' fifth-wheel RV and be mobile. Yes, we're purging a lot of "stuff" from our house, but it's actually very liberating and feels good knowing that our consumption footprint will be much smaller and more earth-friendly.

I was wondering where everyone was going, because the rental market is flat too.  How sad it is when people revert to these situations in America ( the land of plenty).  It is the greed of a few (with golden parachutes) that are ruining it for the rest of America.  I suppose we really did not learn anything from Marie Antoinettes mistake, she was put death ( all be it  a bit harsh punishment); however, it is time for those who have put America in this perdicament to face the music.  If your company is not profitable for your stock holders, then the guy at the top goes hungery FIRST instead of walking away with everyone elses retirement fund/401k/pension!

Why did all these banks give loans to people that could not afford them?  It is not your individual mortgage broker who is to blame, it is the guy at the top that made credit so easy to obtain.  If you don't have the money or the means to repay then don't buy it (whatever it is) form now on.  Now go take that job that you consider beneath yourself and get back on your feet.  The decent people (not the guys at the top) will be more than willing to help you.  I know I would help anyone I could right now.  Trust me I have suffered too, but not nearly as much as so many others.

I'm a single mom who bought a home with settlement money. The morgage company knew i had'nt had a job the year before or at the time I bought my home. I had to relocate to a new area. The realtor told me I should have no problem finding a job in the area the home was. Well, she was wrong I searched all local and distant areas but I never found a job that could pay me enough to pay for the house after my money was to run out. Plus, they put me on an adjustable rate by the second year. I had a room mate live with me to and It was still to hard to keep up with the payments. The real estate lady told me I didn't need a lawyer at my closing either. So. don't tell me its the consumers fault for getting a loan on a house. I put down 16.000 dollars too. It was the bank, the real estate lady and the builder after my cash. I was set up to fail. So it was not all my fault. I should of had a lawyer present, period. It should be mandatory especially if your a first time home investor and a single mom. SO what now ? The house still is not in foreclosure. its going on 2 years this aug 15th 2009. What should I do. I have a lawyer but I want to get rid of the house!!!!!!! what can I do?

I'm a single mom who bought a home with settlement money. The morgage company knew i had'nt had a job the year before or at the time I bought my home. I had to relocate to a new area. The realtor told me I should have no problem finding a job in the area the home was. Well, she was wrong I searched all local and distant areas but I never found a job that could pay me enough to pay for the house after my money was to run out. Plus, they put me on an adjustable rate by the second year. I had a room mate live with me to and It was still to hard to keep up with the payments. The real estate lady told me I didn't need a lawyer at my closing either. So. don't tell me its the consumers fault for getting a loan on a house. I put down 16.000 dollars too. It was the bank, the real estate lady and the builder after my cash. I was set up to fail. So it was not all my fault. I should of had a lawyer present, period. It should be mandatory especially if your a first time home investor and a single mom. SO what now ? The house still is not in foreclosure. its going on 2 years this aug 15th 2009. What should I do. I have a lawyer but I want to get rid of the house!!!!!!! what can I do?

some people may say that i live above my necessary means. But do not scrutinize me for I too wonder.

a house built in 96 sold New for $119.00 and in 2005 i bough it for $355K 80/20 loan fx 3 yrs vr after that. well guess what it was the cheapest 4/2 single family house in the market in that neighborhood on Miramar FL. why did i buy such thing, well i looked for months and could find any 4/2 in South Florida for less $400K. what a deal at my price but now i look and wonder how that heck did it jump from $119 to $355. well it was within my means, it was the best price to afford. but guess what the government property appraisal which i though and was told the taxes for it would be with $3k instead of the previous owner who paid $1500. take a guess i was hit with a property tax of none other than $7k. how can one buy a house when you can't put finger on the right number for your taxes. but then again it's my fault right. ok thanks governor for the big tax break of $180.00 lol. well let see i use to pay $2200.00 + $7k tax $2900.00 outside my budget. but it doesn't end there thanks to Hurricane Katrina and others. my insurance went from a $2200 to $3100.00 buya outside my means. oh wait gas price hits me, basic basket went up hence gas price. my groceries of $150 up to $200. surviving barely making the payments adjusted interest does the final stab to the heart from 80= 6% to 9% and the 20 loan...take sit..from 7% to 11%. but wait isn't it supposed to be to that in the market. mmm. now it went from to $2900 to $3,300.00.

the negative equity and the  number of loans taken to furnish my house and to keep my house gives no other choice than to foreclose. i have a second house a condo. no i am not an investor that condo is on sale since way before a bought that stupid house.

but guess what due to that there is no hope for me for any assistance.

      *****i want to see and hear more from people what happened to the deficiency judgment, what happens after the loss of your home***

****how can i protect my retrieve; my condo that will house my 3 children, Jessie (dog) and wife from unforgiving banks***