“I Thought We Had Time…” — A Quiet Foreclosure Story That Still Haunts Me
Investor · Nationwide Foreclosure Specialist · Member since 2018 · 62 posts · 63 votes
“I Thought We Had Time…” — A Quiet Foreclosure Story That Still Haunts Me
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Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes
1yFrom what I understand foreclosures take time - I mean they didn't just "stop" opening mail. This takes serious negligence, in one form or another.
Yes, foreclosures are sad. Should they lose their property if they don't pay for it? Yes. Is it still sad, yes. I bought a foreclosure about 2 years ago that was this way - silverware still there, kids stickers on the wall, butterfly ceiling fan...then the struggle - a bunch of mail in the closet...house not being paid, utility warnings, car payments late, etc.
At least in the US, you have the right to the "pursuit of happiness". This doesn't mean you'll be happy nor do you have a right to be happy.
That is just life. I mean people are born in Africa that have to walk miles just to fill up buckets to have drinking water. Kids that have to hide at night or get taken by militia groups and recruited in war. Kids stuck in foster houses getting abused with no way out. Kids with drug addict parents. People are born with disabilities, limited from the onset. It is impossible to end all hardship/suffering - and that is just part of life.
Regardless, society has made it much easier for most people, in most cases - imagine if the less fortunate weren't supported by the rest of society to some degree. It could be much worse.
14 Replies
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1yThey are called "don't wanters". They've lost the will to fight.
Quote from @David Litt:
A few years back, I walked through a two-bedroom bungalow that looked like time had stopped.
The curtains were still drawn. A calendar hung on the fridge with hopeful notes—“call plumber,” “ask about refinance,” “get school supplies.” But no one lived there anymore. The lock had changed, the bank had taken over, and what was once a home now sat in legal limbo.
The owner had equity. They weren’t in over their head with the loan. But they missed a few payments after a medical emergency, stopped opening letters, and assumed they had time to figure it out.
I’ve seen flips, short sales, and investment opportunities. But this wasn’t that. This was grief in drywall form.
I’m sharing this not as a cautionary tale for profit—but to ask: have you ever walked into a house and felt what it meant to lose it?
I wonder how many people are sitting in homes right now, thinking they’ll figure it out tomorrow. I wonder how we reach them before the calendar pages stop turning.
- Investor · Nationwide Foreclosure Specialist · Member since 2018 · 62 posts · 63 votes1y
Absolutely, Ken—that’s a powerful way to describe it. When someone hits that point of emotional and financial exhaustion, it’s not just about the property anymore—it’s about feeling like they’ve run out of options, energy, or hope.
I’ve seen situations where even just a compassionate conversation—someone showing up without judgment—can reignite a bit of that will to fight. The challenge is catching them before they fully check out. Thanks for calling attention to that mindset; it’s something we all need to be more aware of when working with struggling homeowners.
- Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes1y
From what I understand foreclosures take time - I mean they didn't just "stop" opening mail. This takes serious negligence, in one form or another.
Yes, foreclosures are sad. Should they lose their property if they don't pay for it? Yes. Is it still sad, yes. I bought a foreclosure about 2 years ago that was this way - silverware still there, kids stickers on the wall, butterfly ceiling fan...then the struggle - a bunch of mail in the closet...house not being paid, utility warnings, car payments late, etc.
At least in the US, you have the right to the "pursuit of happiness". This doesn't mean you'll be happy nor do you have a right to be happy.
That is just life. I mean people are born in Africa that have to walk miles just to fill up buckets to have drinking water. Kids that have to hide at night or get taken by militia groups and recruited in war. Kids stuck in foster houses getting abused with no way out. Kids with drug addict parents. People are born with disabilities, limited from the onset. It is impossible to end all hardship/suffering - and that is just part of life.
Regardless, society has made it much easier for most people, in most cases - imagine if the less fortunate weren't supported by the rest of society to some degree. It could be much worse.
- 1yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @David Litt:
A few years back, I walked through a two-bedroom bungalow that looked like time had stopped.
The curtains were still drawn. A calendar hung on the fridge with hopeful notes—“call plumber,” “ask about refinance,” “get school supplies.” But no one lived there anymore. The lock had changed, the bank had taken over, and what was once a home now sat in legal limbo.
The owner had equity. They weren’t in over their head with the loan. But they missed a few payments after a medical emergency, stopped opening letters, and assumed they had time to figure it out.
I’ve seen flips, short sales, and investment opportunities. But this wasn’t that. This was grief in drywall form.
I’m sharing this not as a cautionary tale for profit—but to ask: have you ever walked into a house and felt what it meant to lose it?
I wonder how many people are sitting in homes right now, thinking they’ll figure it out tomorrow. I wonder how we reach them before the calendar pages stop turning.
Bought my first court house step property in 1979.. and a few hundred later along with 200 plus foreclosure rescues .. the human condition varies drastically.. I have had folks leave the home broom clean with instructions and all the manuals.. I have had them strip them of anything of value before they left.. had them destroy thing maliciously. I have had 3 suicide attempts one successful ( gun shot to the head but in the backyard). the other two were pills. gun shot was male pills were wives who never told their husbands they were or did lose the house..
I have sat with many doing bail outs and they just could not fathom how they are in this situation but there is an RV and two SUV's in the driveway. Or they are paying on the heloc because of low payment but not paying on the first ..
and of course those that think something is going to happen to bail them out.. Now my specialty was curing these within 3 days of the sale.. Hair on fire.. record my own deeds courier the reinstatement check to the Trustees office day before the sale or morning literally hour before the sale. this I found is when folks finally get over denial and can take action 72 hours before the sale.. and of course i had a great title company that would do a date down on the phone but we still took some title risk.. But today many title companies unless they really know you will not insure self prepared transfers.
But yes lots of water under the bridge.. We still provide capital for those buying courthouse steps but I wont let them bid on anything that is occuppied .. I dont wnat the drama.- Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes1y
Quote from @Jay Hinrichs:
Quote from @David Litt:
A few years back, I walked through a two-bedroom bungalow that looked like time had stopped.
The curtains were still drawn. A calendar hung on the fridge with hopeful notes—“call plumber,” “ask about refinance,” “get school supplies.” But no one lived there anymore. The lock had changed, the bank had taken over, and what was once a home now sat in legal limbo.
The owner had equity. They weren’t in over their head with the loan. But they missed a few payments after a medical emergency, stopped opening letters, and assumed they had time to figure it out.
I’ve seen flips, short sales, and investment opportunities. But this wasn’t that. This was grief in drywall form.
I’m sharing this not as a cautionary tale for profit—but to ask: have you ever walked into a house and felt what it meant to lose it?
I wonder how many people are sitting in homes right now, thinking they’ll figure it out tomorrow. I wonder how we reach them before the calendar pages stop turning.
Bought my first court house step property in 1979.. and a few hundred later along with 200 plus foreclosure rescues .. the human condition varies drastically.. I have had folks leave the home broom clean with instructions and all the manuals.. I have had them strip them of anything of value before they left.. had them destroy thing maliciously. I have had 3 suicide attempts one successful ( gun shot to the head but in the backyard). the other two were pills. gun shot was male pills were wives who never told their husbands they were or did lose the house..
I have sat with many doing bail outs and they just could not fathom how they are in this situation but there is an RV and two SUV's in the driveway. Or they are paying on the heloc because of low payment but not paying on the first ..
and of course those that think something is going to happen to bail them out.. Now my specialty was curing these within 3 days of the sale.. Hair on fire.. record my own deeds courier the reinstatement check to the Trustees office day before the sale or morning literally hour before the sale. this I found is when folks finally get over denial and can take action 72 hours before the sale.. and of course i had a great title company that would do a date down on the phone but we still took some title risk.. But today many title companies unless they really know you will not insure self prepared transfers.
But yes lots of water under the bridge.. We still provide capital for those buying courthouse steps but I wont let them bid on anything that is occuppied .. I dont wnat the drama.I was stunned reading that. I've walked one or two foreclosed homes. It was a strange haunting feeling - the faucets were ripped out of bathroom shower wall and dead insects on the carpet. I wondered who lived there for them to reach this sad point.
I know someone who foreclosed on a home in the Bay Area recently. I had asked this person "are you sure you can afford that mortgage?" I was shocked when they were approved. The job this person had was in no way was a high earning software engineer, attorney etc. Then this person spent money like it was falling from the sky - two brand new cars for one person.
When I read about people in the Bay Area buying $2.5 to $3 million homes near Silicon Valley (Santa Clara, Cupertino, Mountain View, Sunnyvale, parts of San Jose), my jaws drop looking at their mortgage payments, $22,000 to $27,000 month or more (I picked a few random homes on Zillow and plugged into a mortgage calculator). People with high paying tech salaries are one layoff away from being in a terrible financial situation and what if one parent wants to stay home with the kids Just because a lender approves you that doesn't mean it's a good idea.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Becca F.:
Quote from @Jay Hinrichs:
Quote from @David Litt:
A few years back, I walked through a two-bedroom bungalow that looked like time had stopped.
The curtains were still drawn. A calendar hung on the fridge with hopeful notes—“call plumber,” “ask about refinance,” “get school supplies.” But no one lived there anymore. The lock had changed, the bank had taken over, and what was once a home now sat in legal limbo.
The owner had equity. They weren’t in over their head with the loan. But they missed a few payments after a medical emergency, stopped opening letters, and assumed they had time to figure it out.
I’ve seen flips, short sales, and investment opportunities. But this wasn’t that. This was grief in drywall form.
I’m sharing this not as a cautionary tale for profit—but to ask: have you ever walked into a house and felt what it meant to lose it?
I wonder how many people are sitting in homes right now, thinking they’ll figure it out tomorrow. I wonder how we reach them before the calendar pages stop turning.
Bought my first court house step property in 1979.. and a few hundred later along with 200 plus foreclosure rescues .. the human condition varies drastically.. I have had folks leave the home broom clean with instructions and all the manuals.. I have had them strip them of anything of value before they left.. had them destroy thing maliciously. I have had 3 suicide attempts one successful ( gun shot to the head but in the backyard). the other two were pills. gun shot was male pills were wives who never told their husbands they were or did lose the house..
I have sat with many doing bail outs and they just could not fathom how they are in this situation but there is an RV and two SUV's in the driveway. Or they are paying on the heloc because of low payment but not paying on the first ..
and of course those that think something is going to happen to bail them out.. Now my specialty was curing these within 3 days of the sale.. Hair on fire.. record my own deeds courier the reinstatement check to the Trustees office day before the sale or morning literally hour before the sale. this I found is when folks finally get over denial and can take action 72 hours before the sale.. and of course i had a great title company that would do a date down on the phone but we still took some title risk.. But today many title companies unless they really know you will not insure self prepared transfers.
But yes lots of water under the bridge.. We still provide capital for those buying courthouse steps but I wont let them bid on anything that is occuppied .. I dont wnat the drama.I was stunned reading that. I've walked one or two foreclosed homes. It was a strange haunting feeling - the faucets were ripped out of bathroom shower wall and dead insects on the carpet. I wondered who lived there for them to reach this sad point.
I know someone who foreclosed on a home in the Bay Area recently. I had asked this person "are you sure you can afford that mortgage?" I was shocked when they were approved. The job this person had was in no way was a high earning software engineer, attorney etc. Then this person spent money like it was falling from the sky - two brand new cars for one person.
When I read about people in the Bay Area buying $2.5 to $3 million homes near Silicon Valley (Santa Clara, Cupertino, Mountain View, Sunnyvale, parts of San Jose), my jaws drop looking at their mortgage payments, $22,000 to $27,000 month or more (I picked a few random homes on Zillow and plugged into a mortgage calculator). People with high paying tech salaries are one layoff away from being in a terrible financial situation and what if one parent wants to stay home with the kids Just because a lender approves you that doesn't mean it's a good idea.
Your Comments: "I know someone who foreclosed on a home in the Bay Area recently." "I was shocked when they were approved."
Not all information provided on loan applications is "accurate". Since you were not part of he buying or lending, you would not be able to confirm the information provided or omitted.
Having been in a position to examine loan documents in court, I've seen some pretty egregeious "misinformation". It doesn't often make headlines, but this one did.
"Falsified Bank Documents And Property Records" Criminal Investigation For Loan Fraudhttps://www.biggerpockets.com/forums/311/topics/1256886-fals...
Many foreclosures from the 2008 bust, were from people being NOT truthful about loan applications. Underwriting depends on that information being truthfully presented to accurately assess the ability and likelihood of being paid back. I think the time is upon us that lenders (FHA) will use AI to review loans for "accuracy."It isn't the banks money. It is money you and I pay (taxpayers as the insurer of FHA) to cover the loss to the bank when they have to foreclose that creates the problem.
Bank Fraud "shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both." - 1yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Quote from @Becca F.:
Quote from @Jay Hinrichs:
Quote from @David Litt:
A few years back, I walked through a two-bedroom bungalow that looked like time had stopped.
The curtains were still drawn. A calendar hung on the fridge with hopeful notes—“call plumber,” “ask about refinance,” “get school supplies.” But no one lived there anymore. The lock had changed, the bank had taken over, and what was once a home now sat in legal limbo.
The owner had equity. They weren’t in over their head with the loan. But they missed a few payments after a medical emergency, stopped opening letters, and assumed they had time to figure it out.
I’ve seen flips, short sales, and investment opportunities. But this wasn’t that. This was grief in drywall form.
I’m sharing this not as a cautionary tale for profit—but to ask: have you ever walked into a house and felt what it meant to lose it?
I wonder how many people are sitting in homes right now, thinking they’ll figure it out tomorrow. I wonder how we reach them before the calendar pages stop turning.
Bought my first court house step property in 1979.. and a few hundred later along with 200 plus foreclosure rescues .. the human condition varies drastically.. I have had folks leave the home broom clean with instructions and all the manuals.. I have had them strip them of anything of value before they left.. had them destroy thing maliciously. I have had 3 suicide attempts one successful ( gun shot to the head but in the backyard). the other two were pills. gun shot was male pills were wives who never told their husbands they were or did lose the house..
I have sat with many doing bail outs and they just could not fathom how they are in this situation but there is an RV and two SUV's in the driveway. Or they are paying on the heloc because of low payment but not paying on the first ..
and of course those that think something is going to happen to bail them out.. Now my specialty was curing these within 3 days of the sale.. Hair on fire.. record my own deeds courier the reinstatement check to the Trustees office day before the sale or morning literally hour before the sale. this I found is when folks finally get over denial and can take action 72 hours before the sale.. and of course i had a great title company that would do a date down on the phone but we still took some title risk.. But today many title companies unless they really know you will not insure self prepared transfers.
But yes lots of water under the bridge.. We still provide capital for those buying courthouse steps but I wont let them bid on anything that is occuppied .. I dont wnat the drama.I was stunned reading that. I've walked one or two foreclosed homes. It was a strange haunting feeling - the faucets were ripped out of bathroom shower wall and dead insects on the carpet. I wondered who lived there for them to reach this sad point.
I know someone who foreclosed on a home in the Bay Area recently. I had asked this person "are you sure you can afford that mortgage?" I was shocked when they were approved. The job this person had was in no way was a high earning software engineer, attorney etc. Then this person spent money like it was falling from the sky - two brand new cars for one person.
When I read about people in the Bay Area buying $2.5 to $3 million homes near Silicon Valley (Santa Clara, Cupertino, Mountain View, Sunnyvale, parts of San Jose), my jaws drop looking at their mortgage payments, $22,000 to $27,000 month or more (I picked a few random homes on Zillow and plugged into a mortgage calculator). People with high paying tech salaries are one layoff away from being in a terrible financial situation and what if one parent wants to stay home with the kids Just because a lender approves you that doesn't mean it's a good idea.
I suspect there is lot of equity roll up in Silicon Valley and Peninsula ( Las Altos Palo Alto Atherton Menlo Park ) SFRs Large downpayments like 50% or more..
- Investor · Nationwide Foreclosure Specialist · Member since 2018 · 62 posts · 63 votes1y
I think you’re spot on, Jay. In markets like Silicon Valley and the Peninsula, we’ve seen a lot of properties with substantial equity cushions—often from those large downpayments you mentioned, sometimes 50% or more. It creates a different dynamic compared to highly leveraged areas. While it can provide stability for individual owners, it also means there’s a massive amount of tied-up wealth in those SFRs that isn’t always being leveraged or producing cash flow. Definitely an interesting market segment to watch.
- Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes1y
I've walked a house where dinner was still on the table and the refrigerator still had all the groceries in it. The food on the table had disintegrated into nothing and so had most of the refrigerator contents, which looked like compost except for a few things that never rotted just got dehydrated. Pretty freaky.
Skyline Properties- Lender · Los Angeles, CA · Member since 2009 · 1k+ posts · 2k+ votes1y
Quote from @JD Martin:
I've walked a house where dinner was still on the table and the refrigerator still had all the groceries in it. The food on the table had disintegrated into nothing and so had most of the refrigerator contents, which looked like compost except for a few things that never rotted just got dehydrated. Pretty freaky.
You’re pretty brave, JD. I don’t have Jay’s experience, but I’ve walked hundreds of foreclosures, especially during their heyday in the early 2010s. One strict rule you only have to break once is: “NEVER OPEN THE FRIDGE.”
Some things just can’t be unseen (or unsmelled).
Separately, has anyone ever noticed how much loose change you find scattered around in foreclosures? I can’t help but think it represents the respect those who lose their homes have for money.
- Investor · Nationwide Foreclosure Specialist · Member since 2018 · 62 posts · 63 votes1y
For sure JD. Crazy right?
- Member since 2021 · 3 posts · 3 votes4mo
do not trust david litt he just stole a Facebook group I messaged him to do the right thing and return the Facebook group after david litt stole the Facebook group and refused to pay the $1900 that david litt agreed to pay to the owner of the Facebook group. david litt is using a picture he has with pace morby and jamil to build legitimacy. david litt this problem will not go away until you return the Facebook group or pay the owner the $1900 you agreed to pay him.
- Member since 2026 · 119 posts · 44 votes4mo
The medical emergency path is the one that gets lost in the data. Servicer loss mit only kicks in if the homeowner answers the phone, and people in crisis stop answering. Equity doesn't save you if nobody at the bank knows you exist.
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