Banks Bulldozing Homes in foreclosure

Janesville, Wisconsin
May 27, 2009 5:00pm CST
Uuaully foreclosure means someone owned the home.. did not pay it all off.. So because they did not pay the loan the banks take it away from them.. Well instead of extending time on the loan one nasty thing going on is banks are taking the homes or buildings through foreclosure, and instead of spending the money to finish the homes, or sell the homes.. They are bulldozing them! .... What they could do is extend time for these people to pay the loan, but they rather throw them into homelessness and bulldoze the homes, and I think that is totally and terribly wrong, and people Ought to no longer take loans from the banks doing this type of thing, and people ought to close their bank accounts, and withdraw their money and transfer to another bank, and people run these banks out of business and out of town! .... There is no reason why a bank who is gonna bulldoze a home anyhow can not extend the time on the loan, and actually work together with the people to find out a plan... to help keep these people in the homes or how they open up free funds all the time for emergency fundraisers of people with cancer or whatever Its time for the banks to set up a fund system to help people facing foreclosures to stay in there home. Benjamin Franklin invented the pay it forward system for banks. Why can't we bring that system back to the banks! .. This type of system would easily throw most people out of debt.... Help them get back on their feet, so they could continue working, and buying consumer products, then reverse the whole job loss thing. Something needs to step in to help reverse the system to help people from the very bottom work their way up. Maybe even partner with charities where the person volunteers work for a certain amount a time, to a charity, and a sponsor pays this person to volunteer that money goes directly to pay off the loan to stop that home from going into foreclosure and to at least put 250,000$ into a bank account where you can only withdrawn interest.. if the interest automatically is locked to directly go into paying off the loan! that is on a 4-5% interest rate 1000$ a month loan paid off.... At City itself if it wants to end homeless ... some form of Bank Account, Phone Number, and a snail mail address is a place to start for everyone homeless and not should be able to have at least these... Sponsors could team up with a Bank, phone company, and a mail company... Then suddenly the homeless have phone number and mailing address for a job application, they have a bank account or some sort of lock box.. where they can safely put what little valuables they have at least to have a state id and a birth certificate and social security card.. Towns can work to make sure everyone homeless and not has as least this much! ... and people work together to make sure they keep a small bank account full at all times... So a person has enough money to avoid being homeless.. voila homelessness issue is then solved.. .. !Maybe an international Hobo club could set up something like this!.... :D.. or something.. truth is something has to be done. - DNatureofDTrain
1 response
@smileonstar (4007)
• United States
27 May 09
As far as I know and my own experience, I believe whenever the bank foreclosure a home cuz the owner didn't make their payment for the pass 6 months as agreement stated to pay every month. It is not the bank problem... it is really on your own. Before they foreclosure your home, they keep calling you for collection and give you so many chance to correct this mistake but you ignore to this. I believe they send letters... and make phone call and also alter and send out private inspector too... To avoid foreclosure a home, now is a good time and you should act now... Government's program that provide you with everything you need to stay in your home. you can find those information online or through your bank. some provider will charge fee to do your paper work but if your bank, then it would be free.
1 person likes this
• Janesville, Wisconsin
28 May 09
That is not always the case, I know people who have fell behind on one single payment, and the bank took them to court instantly within that 30 days... when they were paying on time the rest of the time, So it depends on the bank, and the amount. Most I would hope are like your case are fair and give plenty of time and chances for a person to catch up .... .... But many of these I am reading about a so pathetic where the house is brand new never been lived in, but its unfinished roof or just siding, and the banks instead of finding someone to finish it rather save money by bulldozing it, I do not see why they can not partner with homeless shelters and Habitat for Humanity to finish those homes instead of go that route..... - DNatureofDTrain