Sunday, October 04, 2009

Another Foreclosure

The second house that is directly across the street from us recently foreclosed. Both houses were purchased in 1995, one for $55K and the other for $60K. Neither of the residents were rocking around in BMWs nor Mercedes, nor Prada shoes. It baffles me to to think that someone could lose a place that was so inexpensive, unless there was some financial hard-ship involved. In the most recent foreclosure case, a divorce was involved.

So here we go again. The first foreclosure resulted in the place eventually being restored and flipped. It will be several months before we know how the second foreclosure ends.