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Old 10-28-2009, 02:35 PM   #1 (permalink)
Eye
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Losing your home....

I just found out this happened to my first cousin.

She and her husband are in their mid-forties. They packed up everything about 10 years ago and crossed many states to live near and work for her brother, who happens to own a multi-million dollar construction company. They build huge subdivisions of homes worth over $600,000.

4 years ago her brother built their mom a home so she could live right next door to my cousin and her husband. My aunt is 85 y/o. She too moved many states to be near her children. She paid for her house out-right. My cousin and her husband had a mortgage.

Fast forward to the last year. The owner of the construction company(brother) had to lay off my cousin's husband due to the market(he had to lay his own wife off as well).. My cousin has always worked part time in a school. And I guess her husband couldn't find a job. The brother is paying bills by doing occasional remodeling jobs The banks won't loan him ANY money to build at all, so he's stuck where he's at.


Last week my mom got a call from my aunt who was in tears because my cousin and her husband lost their house to the bank. And had to move into an apartment 20 minutes away. My aunt is heartbroken.



I'm not a fly on the wall, so I have NO idea how this happened. But my first thoughts are... How could you LOSE your house? Wouldn't you get a job or two or three jobs to pay the mortgage at least? There's always filing for bankruptcy. That's not the best option, but when you have 2 kids, to lose your house... WOW!


I'm probably being harsh, but the whole thing all around upsets me, everything from the economy to living the American Dream and losing it all. It's just amazing.
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