Foreclosure, A Post Script

The auction of our home was set with an opening bid of $305,000.00. Yeah, right! The houses in our neighborhood that have recently sold after foreclosure have gone for the $180,000 range at the high end.

I scoped out the status of our house on RealtyTrac.com and saw that it was set for auction and the opening bid on Sept. 10th. Today I see an entry for Sept. 11th noting that the house is bank owned. What a surprise that no one bid on it at auction.

EMC, the company that held the second note has cashed out and we are now getting calls from a collection agency on that score. We do plan to talk to them and try to negotiate a deal.

Alll in all this process moved swiftly, but in talking to a previous neighbor that went through foreclosure as well, have compared notes and we agree that the stress of the process really takes a toll.  We walked away, but it’s not been a walk in the park.

About Angeline M

Love travel and photography. Living in Northern California. Photos of locations visited are personal file photos.
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2 Responses to Foreclosure, A Post Script

  1. So, how did it all end? Did someone buy the house and then you continued to rent it, or did you have to move?

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    • Angeline M says:

      We moved. We decided, given the very bad housing market in California, that we would be better off just moving on our own terms. We found a house right around the corner that we loved, and didn’t want to miss that opportunity, so we moved on. The new home is a little larger, so allows for a little more comfort when all the family is over for dinners and visits. Less than thirty days after our move, the foreclosure notice went up on the door of the old place. We timed it down to the wire!
      We are happy in the new place. It feels right.

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