Posted on 01/19/2008 12:35:42 PM PST by Westlander
The first mortgage foreclosure on my block, a couple of years ago, didn't seem like it was part of the current housing crisis. A young family moved in — husband, wife and child. Although they were new, they became active with neighbors on the block. Their son played with other kids. Within a few months of their moving in, Mom gave birth to twins. It was a celebratory occasion for block club members. But shortly, things went bad. After some months of the usual agony and loathing, they divorced. The property settlement left Dad with the house and a mortgage he couldn't afford without his wife's income.
The bank took over and attempted to sell the place, but the housing crisis had kicked in by then and there were no takers. The place sits empty today and is the biggest eyesore on the block.
(Excerpt) Read more at metrotimes.com ...
[cue Meatloaf] Stop right there. That's gotta be fiction.
“The place sits empty today and is the biggest eyesore on the block.”
A neighborhood with just a few eyesores like that is probably...
a nice part of Detroit.
He probably had to buy out her equity. And having him do so was probably her choice.
http://www.freerepublic.com/focus/f-news/1825019/posts
A house costs less than a car in Detroit.
http://www.freerepublic.com/focus/f-news/1825019/posts
A house costs less than a car in Detroit.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.