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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:05:15 PM | Ah yes, my old law firm, Camp "Harmon" in Newton, MA-- the factory grinding out the foreclosures like a sweat shop.
Earlier this week a mortgagor, whose house was scheduled to be auctioned at 4:00 pm on Tuesday, faxed a suicide note to the above-stated law firm and their auctioneer. When they arrived at the door with the sheriff they found her body.
She had not told her husband, a plumber, who was at work at the time that their house was in arrears and they were losing it. She left a suicide note for the family to collect the life insurance and pay off the mortgage note.
Suicide is not covered in life insurance policies. The neighbors had no idea. There was no unusual behavior and it was a middle class neighborhood.
They did not go through with the auction upon finding the body. The paper failed to state that the property will have to pass through probate. It was not an act of mercy by the auctioneer, the attorneys, nor the bank.
P.S. Banks are stiffing real estate agents who sell foreclosed properties out of their commission. Just another dimension. I guess the next scene besides copper piping growing legs will be real estate agents on all fours eating grass on the lawns just like the potatoe famine of Ireland in the 1800's. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:23:26 PM | Well last Depression we had brokers jumping out of windows when the stock market crashed this time around we have home owners blowing there heads off with the mortgage market crash.
Can’t really say we didn’t see this coming. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:33:46 PM | We haven't seen the tip of the iceberg, when it comes to our economy.
I feel for the potential buyers of the house. Depending on how long the corpse had been there, the clean up effort could be expensive and monumental. OP is correct that the insurance company will not pay out in suicides. Seems that her hubby will have a lot on his plate to deal with.
As far as what the banks are doing, I'm not surprised. I think our model of capitalism has long failed, and is nothing but a bubble ready to pop. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:40:56 PM | | this is a very sad post and I also recently signed a contract that a real estate agent didn't bother to point out something to me, just to get the sale. Totally my responsibility, of course but morally was wrong. I am sad to think that people are pushed to suicide over money. Real estate agents tell lies, and I would love to publish who they are, and lawyers are supposed to be paid to tell who is lieing. It is a very sad world we live in when people commit suicide over things that people take advantage of. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:48:52 PM | Please please for anyone buying a house. Pay for your own title examination. The lawyers and title insurance companies could care less about you, the buyer. It use to not be this way but it has been for several years. Some of the title work is done out of your county even in foreign countries. The only people who know your county and state are examiners with experience who work there every week. For a few extra hundred dollars you will have your own research done and not some half-ass job just to push the papers through.
Think of it like opening up the walls of an older house--mystery meat, insects, termites, etc. that you were never informed about when you bought a house.
I do this for a living and I've owned 5 or 6 houses (lost count). | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 6:49:39 PM | It is time for Americans to take back America, bad banking, bad financing companies, foreign oil, I was not old enough to be there for the protests of Vietnam ( and I had family proudly serve) . I remember the Pipeline from Alaska was for the US peoples usage not going to middle east contries. Tell me you older generation, what happened to the fire, the protests that got Nixons attention, LBJ's ? or all of you too busy polishing your 30.000 SUV's, your Hummers, your BMW's??
How long are we going to stand by and take it up the wazoo, on gas prices? on a war and I had a good freind write me, it has nothing to do with 9/11, come on folks how numb have you all become it has where are the WMD"s where are all the terrorist cells and huge stock piles of weapons?? It all is based around OIL!! OIL goes up m gas goes up, diesel goes up, cost of power, food, economy goes down! Pretty simple, no brainer folks, and I am high school dropout!
Step up America, tell the middle east to kiss off, I know we are every day in NM and Colorado hitting oil, gas, and guess what folks, it is being capped off as soon as it is struck, outside of Greely Colorado a minimum of 20 oil strikes and gas, ALL CAPPED OFF, Outside of Artesia NM. well I stopped counting at a 100 oil strikes back when I lived nearby, and that was in 2004 when I moved back here. ALL CAPPED OFF, do the math, 120 oil strikes, times say 100 barrels a day minimum if a good strike, times 365 days a year ( and they do pump it out if not capped) and where is our American oil going?? Ask Ol big ears Bush!!
God Bless America, God Bless Our Troops, and god bless my brother Marine who died for what he beileved in, Oil War #1 ( Desert Storm) | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:05:10 PM | Enigma 252, I intend to sell the house in 12 months, so is not a concern what is wrong with it, but just won't be using that agent to sell the house. Have told heaps of people, is all bad for business when you tell people your story.
We just expect lack of morals when it comes to real estate agents and lawyers, I have to live at my mother's while things are being sorted out. Whilst that in itself is grounds for my suicide attempt, nothing is worth taking your life over....nothing and people are pushed to the brink.
The sun still comes up tomorrow. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:09:58 PM | Umm...I hate to say it, but am I missing something here from the O-post, and the OP's later post? Was the house inspector neglectful in some way or something?
I agree that this is a very sad case but, uhh...again, am I missing something here in this story? I gathered from the O-Post that this mortgagor evidently got herself and her family into payments they just couldn't afford? Where did the house inspector come into it?
A mortgage payment is possibly THE most important agreement that someone enters into in their lives, so I think I'm missing something here (not meaning to be callous at all). But I know I've always read the fine print several times, is all.
As an aside, the OP's "ps" was interesting to me. My ex-husband was a mortgage broker in Canada, and I know he had a helluva time a few times, with realtors trying to push their clients through on a sale and get them to make an offer, before they'd actually gotten proper financing in place, or without fully disclosing direct questions their clients had asked them. Legally, in those cases, the clients could have sued the realtor if they found themselves screwed for financing if/after their offer was accepted without proper financing, or had recourse to back out if they found out either of the realtors were suppressing information (or the home-owners/sellers, as well).
The Ps was interesting to me, because the OP is apparently a realtor....so umm...well what is the statement behind this thread? Commissions aren't as high anymore? Or wtf....I'm still trying to see the sympathy from the OP, or exactly how the house inspector was to blame here. No offence.
Edit: ^^^ for the poster above me. I'm very sorry to hear that you found yourself in such a bind. That is part of why I'm confused with the OP, or wondering where the heck she is coming from with this thread, to be honest. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:17:22 PM | Wyld Highlander,
Sorry to read about the loss of your brother.
During the Vietnam war the country issued a draft. We protested. I marched with 80,000 people in Boston Common. The Vietnam War was for the benefit of Michelen tires. Yes, a French tire company. This time, it is oil.
America seems to be controlled and run by special interests groups; the world by a handful of the mega rich bankers. Regan deregulated the banking industry and in the mid-80's one of the big banks started the infamous, "mortgage-backed securities" that is bleeding try the whole planet right now.
However, the rich get to keep their pile.
Please note that we have not bottomed out with this foreclosure crisis. What till this winter with fuel costs. Shoot a deer, plant some food, use wood to heat--anything.
To SweetnessOne, I am not a realtor. I do abstract work for a foreclosure law firm. The second posting that I issued was about shoddy abstract work that has been done over the past 5 years often times full of errors because the work has been outsourced. Please pay for title insurance and then when they have a problem they have to pay a litigator $5,000 to start a lawsuit. My statement in the 2nd posting is how to avoid this problem in the first place.
Shimma--a local murder? I've got to wonder how much of this is going on and it isn't reported nationally. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:40:25 PM |
To SweetnessOne, I am not a realtor. I do abstract work for a foreclosure law firm. The second posting that I issued was about shoddy abstract work that has been done over the past 5 years often times full of errors because the work has been outsourced. Please pay for title insurance and then when they have a problem they have to pay a litigator $5,000 to start a lawsuit. My statement in the 2nd posting is how to avoid this problem in the first place.
Ah, ok, I get what you are saying. So, we are talking about house inspectors doing faulty reports then for a buyer, correct? If that's the case...then I would say, make sure you find someone reputable etc....and if they are accredited, then the home-buyer (although it would be a longer, drawn-out process) would always have legal recourse in that case, if the inspector failed to do their job.
I'm not trying to be callous, but...did the mortgagor in this case find that subsequent repairs to the house, due to a shytea$$ inspection, led to lack of funds to pay the mortgage because the repairs were bankrupting them? I'm really not meaning to be callous but...it sounds like a very sad story if she committed suicide, but...well her husband didn't know about the dire straits their finances were in? Or that they were going to lose their house?
Beyond making sure your house inspection if accredited...I would advise anyone looking to purchase, to make sure they read the fine print, and also make sure they aren't getting themselves into any payments or future payments that they can't afford. There IS no "get rich quick" scheme, and there IS no "buy a house for nothing" scenario, either.
No offence meant, OP...I know my ex was also "persuading" some people to enter into contracts they couldn't afford in the long run, either, simply because mortgage rates were so low. People just need to be on their toes, is all, and READ the fine print.  | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:50:21 PM | No Sweetness, the woman who killed herself probably had an adjustable rate mortgage with a balloon payment after 2.5 years that more than doubled her mortgage payment. I'm sure that there are a lot of suicides that we are not hearing and reading about. Another post a relator was killed by the homeowner. People are loosing everything they've worked for for 20-30 years in some cases.
A good home inspection is one thing and that is done by a person who you meet with. The abstract is done on the current and previous owners. There are a lot of problems with the abstract these days, too, because a lot of the work is not being done by local people--therefore a lot of errors. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:51:35 PM |
While suicide is always sad, and the story involves a personal tragedy, I don't get the point of this thread. So far as I can see, there aren't any "bad guys" here, just a sad story.
Lets see....
Bale out Bear Stearns .... how many Billions?
Freddie and Fannie get unlimited line of credit from taxpayers secured by bad morgages... (Congress raised the US debt limit $800 billion in this little package)
The CEO of Freddie gets a $20 millon bonus.... The former CEO has not paid back any of the $100 million or so bonus he recieved....
But the "Greedy Borrower" gets no relief or HELP.
If there was Credit life insurance it might payoff loan suicide might not have an effect. ..
However the property is at aution and the C/L might just go to defiecncy and they still lose the house.
Happy Days are here again..... | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 7:58:04 PM |
Lets see....
Ok, and from the information at hand, none of that has anything to do with the story. It's possible, of course, that she was some liberal moonbat, who just couldn't live with the Bear Stearns story, or that, thanks to the Democrats refusing to open up Anwar, that gas is over $4/gal in many places. However, the story didn't tell us that.
Otherwise, what does any of your rant have to do with the OP, jack d ripper? | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:02:03 PM | OP....I am always willing to be educated, and, I'll admit that I'm more familiar with how Canadian mortgage brokers and realtors work, vs US ones. I still have to admit though, that, well....this is indeed a sad story, but...well to be honest, I can't see how a proposed mortgage freeze might help things in the long run, or how anyone besides the home-purchaser is really "to blame" in this instance. It's a sad story, and there are obviously thousands or more similar mortgage-woes stories around the country....but if the realtor did nothing wrong, and if the home inspector did nothing wrong....then ultimately, I think the onus lies with the home-buyer. I'm sorry, but as I said, there ARE no "buy a house for nothing/get rich quick" schemes that actually work...otherwise we'd all be doing it, yanno? The mortgages might work a bit differently down here compared to up north, but the bottom line really is...well don't sign on the dotted line for something you can't afford, is all I mean.
Sorry, but that's just MHO. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:17:27 PM | Yes, well, we can all thank the greedy, soulless republicans for deregulating banks. How's that free-market, so-called small government (kind of a sad joke when they spend and borrow more than all previous administrations before combined) working for you?--what it's really about with these people is pilfering the commonwealth and screwing the middle class into submission at the same time. You can't tell me they didn't know exactly what they were doing...at the same time they were deregulating the lending industry they were pushing through a bankruptcy bill making it much harder for people to file bankruptcy, with a provision that children could be held liable for their parents' debt. Oh, and how they decry social welfare as socialist, and how they love the free market!--but when the big boys start to fail then all of us taxpayers have to pitch in to bail them out. Class warfare, plain and simple--it's not about the dems versus the republicans necessarily--but then, the republicans do represent the rich and the corporations. As George W. Bush himself said, "Some people call you the haves and the have-mores. I call you my base. Heh heh heh heh."  | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:18:47 PM | Yeah, I read this in the Globe today, very sad story, that poor family.
I also read that the husband didnt know about the foreclosure, apparantly she couldnt deal with the loss of the home AND her family being shocked like that, so she did something very noble and very, very stupid.
I hope to god that the new foreclosure relief bill helps out a lot of people so this doesnt happen again and there is hope for keeping a home. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:26:06 PM | Don't forget that very few people can actually sell their homes right now for what they have invested. Loss of $50,000 or more in equity is very common. A "short sale" means the bank is going to take a buyer's offer below the balance of the mortgage.
This is the worse mess since the 1930's crash. In fact, Fanny Mae and Freddie Mac were set into place then. However, their CEO s have recently bailed out very fat in stockholder's cash.
A friend of mine is a job placement person for big ticket executives and is currently placing a former CFO from Fannie Mae. That person is talking about outright fraud in the ranks of the organization. No shock here. We lose both ways as stock or bond holders and tax payers. Nice. | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:42:41 PM | Enigma252, don't you as the OP have a responsibility to keep the thread on topic? None of your most recent posts have anything to do with your OP. You told a story in the OP. I'm not sure what your point was. I have no idea what your experience protesting the Viet Nam war has to do with the OP, or the price of tea in China.
If all this thread is supposed to be is a bunch of moonbats ranting, fine. Why didn't you say so in the OP? | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 8:57:55 PM | ^^^ You've got me. I tried to give the OP the benefit of the doubt. But, as she said,
I do this for a living and I've owned 5 or 6 houses (lost count)
(Great, so apparently she's an impartial observer-thread-starter? Please, lol).
And also, that she started this thread bytching about the past mortgage-foreclosure firm she used to work for..but then adds she works for a new mortgage-forclosure company. But still has the buyers' best interests at heart apparently and wants to warn them.
Meh...read the fine print, people...don't agree to enter a contract for something you can't afford. If it sounds too good to be true? Then it probably is. If you wouldn't gamble your life savings away by playing the stock exchange, or the slots at your local casino...then WHY would anyone gamble their mortgage contract/payments the same way?? | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 9:03:54 PM | The story is interesting, and a reflection on our pathetic economy, which will only get worse, and that's why it was posted. What's the problem?
Further, please don't embarrass yourself by suggesting that A) ANWAR is the lone reason gas is $4/gallon; B) refusing to realize there's no more than 1.5 years worth of oil in ANWAR, and C) Pretending everything involving the energy crisis is the fault of Democrats.... You really expose yourself badly as a person who doesn't know what he/she is talking about.
Ok, and from the information at hand, none of that has anything to do with the story. It's possible, of course, that she was some liberal moonbat, who just couldn't live with the Bear Stearns story, or that, thanks to the Democrats refusing to open up Anwar, that gas is over $4/gal in many places. However, the story didn't tell us that.
Otherwise, what does any of your rant have to do with the OP, jack d ripper? | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 9:13:30 PM |
The story is interesting, and a reflection on our pathetic economy, which will only get worse
The story doesn't tell us any of that. It is a sad story about a personal tragedy. In the best economic times, there are individual stories of people who have their homes foreclosed. One can't take one individual story as having any "cosmic" meaning about the economy.
Even if one were to take the individual story, and project out that it's happening more frequently as the economy slows, it has nothing to do with all the assorted non-related issues that people, including the OP, are dragging into the thread.
Bottom line here is, that a thread should stay on topic, or a new one started. Had the thread been titled "tin foil hat leftist rant", I wouldn't have read the OP. That, however, would have been a more apt title for what has followed.  | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 9:30:32 PM |
This is the worse mess since the 1930's crash.
The crash of the 30's started with the real estate bubble of 1926 in Florida.... Things change ... things stay the same....
Otherwise, what does any of your rant have to do with the OP, jack d ripper?
Bale out the property owner not the bank... the tax payers just purchase a trillion dollars of bad, over valued mortgages from Fannie and Freddie..
If you maintain property values rather than STOCK value the real estate market would not collapse....
Free market until you need to socialize the corporate losses to support the stock values...
"Out Right Fraud"....
What's the difference now verse 1980's... Neil Bush walked away from a $2 billion dollar fraud (Silverado S&L).... No Criminal charges... | |
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| Woman commits suicide before foreclosure. Auction cancelled.
Posted: 7/24/2008 9:40:45 PM |
OP is correct that the insurance company will not pay out in suicides.
Not true. Many insurance policy's have a clause that they won't pay out within the first two years of the policy if it is death through suicide. But, after the first two year, more often than not the policy will pay full benefits!
This is interesting as just two days ago, my brother (an attorney) and I had a conversation about this topic! I believed (just as the OP did) that it wouldn't pay if it was death by suicide.. I was quite surprised that my belief was simply a myth! | |
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