The foreclosure case is one of the few that’s caught the media’s attention without a lender to blame. Indeed, in a crisis with few success stories, Americans of all social statuses are confronting the threat of foreclosure. Some, like Hatchell, paid very little for their homes. But foreclosure also afflicts the wealthy, as when a Manhattan couple faced foreclosure in the ”world’s richest apartment building.”
Hatchell’s tale of misfortune, however, is much less glamourous, as she incurred hundreds of thousands in costs because the purchase reportedly came with the understanding that the entire home, then in disrepair, would be moved. The move ended up costing $50,000, and she spent considerably more on the subsequent restoration, requiring her to take on extra jobs and a mortgage. (h/t The Consumerist)
Hatchell notes that no one in particular should be blamed for her misfortune. That differs from many other foreclosure-related tales, in which automated bank errors and processing problems have led many to misfortune. In one case, for example, a couple faced foreclosure in part because they hadmade a mortgage payment too early.
- Couple now faces foreclosure after making mortgage payment too early
- More Americans At Risk Of Foreclosure In Q2
- Democratic Senator Says,Obama Must Act On Foreclosure Crisis
- Widow Sues BofA After Being Overwhelmed With Payment Requests
- More Americans at risk of foreclosure in Q2
Category: Business/ Economy
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