Tech & Biz

Foreclosures are a Nightmare to Some and a Dream to Others

by juliaredstone | January 3, 2011 at 11:36 am

72 views | 0 Recommendations | 1 comment

For some people foreclosures have become a dream, because now houses are affordable for them.

Foreclosures could be a nightmare to some but could be a dream to others – depends on the true life tale being followed. In 2009 Bret Sands together with his fiancé Fysah Thomas led a cramped life in a studio apartment paying $600 per month. But today life is a song for them in a lakefront house in Seattle having three bedrooms, spiral staircase and hardwood flooring. Sands is still dazed after the fantastic deal made in March and thinks it is a dream.

This is the other side of foreclosure. It is enjoyed by people like Bret and Fysah. The price of property is now within their affordable limits. Bret surveys marine ships and Fysah is thelead vocalist of a band. Both watched the housing boom wave knowing they would never be able to be part of it. Then came the pinprick of the bubble – it burst.

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon

recommend This comment thread is now closed

TheeLynnChase (not verified)

at 11:57 on January 3rd, 2011

I wonder if they have clear title since none of the homes sold in last 10 years followed the law with respect to securing the Note with the Deed together in secure REMIC Trusts prior to securitizing the Notes into MBS, hence ownership is doubtful since fraudulent documents had to be passed off as legitimate through the foreclosure process. They may think they own the home..... If you want further information on the biggest scam ever perpetrated on the American People check out www.economicsurvivalguide.org and download the free guide. Be sure to check out the January 2011 housing update under blogs and blurbs.