Foreclosed by confusion, delays, inflexibility

There are 5 comments on the Oct 9, 2008, WOOD-TV Grand Rapids and Michigan story titled Foreclosed by confusion, delays, inflexibility. In it, WOOD-TV Grand Rapids and Michigan reports that:

Preventing home foreclosures has become national policy. The US Treasury Secretary has said so and Congress is trying to pass legislation to help.

Join the discussion below, or Read more at WOOD-TV Grand Rapids and Michigan.

christina padron

Grand Rapids, MI

#1 Oct 26, 2008
Ihave been trying to buy a house that was forclosed on since june of 2008, the bank was washington mutal but now they were bought by chase. the bank pended the sale so now we were told all we can do is sit and wait,

Since: Jun 08

Fennville, Mich

#2 Oct 26, 2008
Yeah, you keep trying to buy the houses of thoses that are trying in vain to keep their house. Sheriffs sale huh, yeah, thats the way to screw your neibor.
Tom

Rockford, MI

#3 Oct 26, 2008
christina padron wrote:
Ihave been trying to buy a house that was forclosed on since june of 2008, the bank was washington mutal but now they were bought by chase. the bank pended the sale so now we were told all we can do is sit and wait,
If you have the option of pulling out of the deal, you may want to do so. Housing prices are no where near the bottom. We were looking until a few weeks ago when this became evident. Much better deals are on the way.
Ann

Whitehall, MI

#4 Oct 26, 2008
Tom wrote:
<quoted text>
If you have the option of pulling out of the deal, you may want to do so. Housing prices are no where near the bottom. We were looking until a few weeks ago when this became evident. Much better deals are on the way.
That is so true. Having read a recent article 2000 homes a day go up for foreclosure in this country. Now, with the economy being what it is, a realestate
analyst says another million to million an a half homes will go into foreclosure over the next 18 months. Forcing prices even lower. I looked at a home outside the Detroit area earlier this year on 5 acres, the home was 4100 sq/ft. It is a vacant home. It listed at $415,000, having seen that same home earlier this month, its now at $324,000. I know that will go lower by next spring.
Karen

Whitehall, MI

#5 Oct 27, 2008
Great!! Congress wants to borrow more money to spend for another bailout.

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