The truth is this is a tragedy. I doubt the woman's only issues were foreclosure, but if so, then I feel deeply sorry for her family who she has left behind. She may have been able to find help.
One thing I can say, is if someone is having trouble making payments, real trouble (not those looking for a handout), then they should try to contact their bank. I have a few friends who have been in this situation, and all of them have been able to work with their lenders. Some of them had adjustable loans, and they thought they would have sold by now, and the value decline makes it hard to refinance. The local banks (one was Farmers and the other Home Savings) helped my friends. I'm an internal auditor/accountant, and I can tell you from experience that my advice is to be honest about your financial situation and live realisticaly within your means. By all means, if you are buried in credit card debt, find a good lawyer. i know a guy name joe lucci from the ymca, honest and helpful. i also heard of, but don't know, a guy named andy suhar or suhare. also honest and good.
i assure you, the banks don't want to foreclose, they have tons of problems and really want to work with legiitmate people, not crooks who just want out.
our local banks are good people, from the area. they are hurting just like the people of this community, and if we lose farmers, home savings, first place or cortland, then it will be sad for our area.
It is highly unlikely the article correctly notes the income at the time the loans were made, since no lender would made either a first or second mortgage loan with that type of amount of debt and that little amount of income.
Chances are something happened to their income or the articles is just incorrect.
Family says suicide caused by foreclosure action
The truth is this is a tragedy. I doubt the woman's only issues were foreclosure, but if so, then I feel deeply sorry for her family who she has left behind. She may have been able to find help.
One thing I can say, is if someone is having trouble making payments, real trouble (not those looking for a handout), then they should try to contact their bank. I have a few friends who have been in this situation, and all of them have been able to work with their lenders. Some of them had adjustable loans, and they thought they would have sold by now, and the value decline makes it hard to refinance. The local banks (one was Farmers and the other Home Savings) helped my friends. I'm an internal auditor/accountant, and I can tell you from experience that my advice is to be honest about your financial situation and live realisticaly within your means. By all means, if you are buried in credit card debt, find a good lawyer. i know a guy name joe lucci from the ymca, honest and helpful. i also heard of, but don't know, a guy named andy suhar or suhare. also honest and good.
i assure you, the banks don't want to foreclose, they have tons of problems and really want to work with legiitmate people, not crooks who just want out.
our local banks are good people, from the area. they are hurting just like the people of this community, and if we lose farmers, home savings, first place or cortland, then it will be sad for our area.
February 15, 2009 at 4:50 p.m. permalink suggest removal
Family says suicide caused by foreclosure action
It is highly unlikely the article correctly notes the income at the time the loans were made, since no lender would made either a first or second mortgage loan with that type of amount of debt and that little amount of income.
Chances are something happened to their income or the articles is just incorrect.
February 12, 2009 at 8 p.m. permalink suggest removal