101-year-old Detroit woman evicted in foreclosure

Steve bennet · September-14-11, 08:56 AM

Originally Posted by Danny

That's is what I will NEVER buy a house.

+1

Seeing what has happened during the past 5 years, I don't know why anyone would want to buy a house. Especially when you see stories like this, where you can spend 60-years of your life working your ass off for your home, just to have the government come by and take it away when you're elderly. This country is a joke.

**Danny** · September-14-11, 09:05 AM

Originally Posted by Steve bennet

+1

Seeing what has happened during the past 5 years, I don't know why anyone would want to buy a house. Especially when you see stories like this, where you can spend 60-years of your life working your ass off for your home, just to have the government come by and take it away when you're elderly. This country is a joke.

This is why its called a 'Free Country!" you have your freedom, but no free lunch. Just cut the wants like me then you live free. Cut the credit and use debit. Shop less in corporate franchises and shop more it your local businesss. And DON'T BUY A HOUSE unless you rich!

**softailrider** · September-14-11, 03:47 PM

Originally Posted by Steve bennet

+1

Seeing what has happened during the past 5 years, I don't know why anyone would want to buy a house. Especially when you see stories like this, where you can spend 60-years of your life working your ass off for your home, just to have the government come by and take it away when you're elderly. This country is a joke.

As someone who has lived in apartments and houses, I would much rather live in my own house. I understand some people love renting, it's just not for me.

ferntruth · September-14-11, 03:54 PM

Originally Posted by softailrider

As someone who has lived in apartments and houses, I would much rather live in my own house. I understand some people love renting, it's just not for me.

Agree completely. Home ownership is not the evil that some here would portray it to be. the problem isn't home ownership, its that some people are incapable of doing it responsibly. That means not constantly refinancing to pull equity out, not buying beyond your means, and keeping current with payments, taxes, etc.

Those of us that did that are not upside down in our mortgages and are sitting in our homes rather than on the street.

Steve bennet · September-14-11, 06:01 PM

Originally Posted by ferntruth

Agree completely. Home ownership is not the evil that some here would portray it to be. the problem isn't home ownership, its that some people are incapable of doing it responsibly. That means not constantly refinancing to pull equity out, not buying beyond your means, and keeping current with payments, taxes, etc.

Those of us that did that are not upside down in our mortgages and are sitting in our homes rather than on the street.

Those of you who did that are probably not the ones who lost their job in one of the worst recessions since the Depression.

Try making house payments when you loose your job, see how far you get.

**Scottathew** · September-14-11, 07:13 PM

Originally Posted by Steve bennet

Those of you who did that are probably not the ones who lost their job in one of the worst recessions since the Depression.

Try making house payments when you loose your job, see how far you get.

Which is why for some people throwing the keys at their house is the best option they have. You can live in it for at least 6 months after you stop making payments. Ride it out until your evicted, and save money so you can get into an apartment that's within your budget.

Home ownership is not a right or guarantee. Hell, for some it's not even a goal that they want. Some like the flexibility of renting, while others choose it because it's realistically what they can afford and they don't have the financial discipline or ability to make a commitment like buying a house.

My whole point is that eviction from your home isn't the end of the world, but rather the beginning of renting. For many it will be a financial blessing so they can get a monthly rent payment that's far less than their mortgage. Renting also relives folks of many of the unexpected expenses of home ownership.

**Cincinnati_Kid** · September-15-11, 07:49 PM

Originally Posted by Steve bennet

Those of you who did that are probably not the ones who lost their job in one of the worst recessions since the Depression.

Try making house payments when you loose your job, see how far you get.

Right, I hear no remorse for people who thru no fault of their own, have been put in a bad situation they couldn't control [[job loss or illness). Owning a home is fine, if you're willing to pay the taxes and maintenance along with the mortgage, but the way things are now, the market will never be the same. You really can't say owning is better than renting. It's a personal preference. More people are choosing the flexability to rent instead of being locked in to a house you can't sell. Housing rentals have increased twofold. I was glad to hear the bank did the right thing and told her she could move back in and live in the house the rest of her life.