Foreclosed Homes To Damaged To Sell

By Rudy Armstrong

This topic is about the real estate crisis that everyone is worried about. Now if one has a fourclosed home and no one is there to watch the house from being damaged what do they do? Because of vandalizers and weather, many forclsed homes are being ruined and not being able to sell them. well then what happens to the house and its value if its a fourclosed home with no value, does the bank take the loss? as quated from the article "Experts: Some foreclosed homes too damaged to sell" it states, "About a third of all of the foreclosed properties nationwide have been so damaged, either by the previous owners or by criminal gangs coming in after the foreclosure, that they no longer qualify for standard mortgage financing," Thomas Popik told CNN. "So there is going to be all kinds of government programs to help, but if they don't qualify for standard mortgage financing, there's no one to buy these properties." What some experts say that this problem is much greater than officals at washington realize. The people in charge in washington have a lot of prblems on their hand. So much that the whole nation is sitting around not helping and just complainging. If criminals did not wreck these homes or if people were not giving large loans to make a mortage on a house they couldn't afford in the first place. With this said there is a 1-800 number to call incase you have this problem as well. but what a coincidence, no one answers the number. So what is this all a big sick joke on the american people? As quoted from the article "Folks losing homes dial 1-800: no one answers" states "Every report says the banks are helping, and everything on the radio says they're helping," Cavallari said. "You call and call and call; you're not getting a voice. You're getting a recording." that is rediculos. Really where is all the good help, i guess their is no, becuase who's going to help you in this crisis the person whom already caused it. That sounds like a great idea to me. to read more check out these articles


Sources: http://www.cnn.com/2009/US/04/16/damaged.foreclosures/index.html?iref=newssearch
http://www.cnn.com/2009/LIVING/04/15/foreclosure.phones/index.html
http://www.cnn.com/2009/SHOWBIZ/TV/04/16/lkl.donald.trump/index.html