The Foreclosure Story We Don’t Talk About Enough

[David Litt]

Most conversations about foreclosure focus on the numbers — the equity, the debt, the timelines. But behind every notice of default is a family trying to make sense of something they never thought would happen to them.

I recently spoke with a homeowner who had fallen behind after a medical emergency. They weren’t lazy, careless, or financially reckless — just overwhelmed. They’d been avoiding calls, ignoring letters, and living with this quiet dread that it was all too late.

Here’s what struck me: once we walked through what foreclosure actually meant — the process, the timeline, and the possible solutions — their whole mindset changed. They realized there were still options. They could negotiate, apply for a modification, or even sell on their own terms instead of losing everything.

That moment made me rethink how I view foreclosure. Sometimes, helping someone through it isn’t about “getting a deal.” It’s about giving them back a sense of control they thought they’d lost.

For those who’ve been around foreclosure situations — investors, agents, or even homeowners — have you seen this shift too? How often do you find that education alone changes the entire outcome?

[Jay Hinrichs]

Quote from @David Litt:

Most conversations about foreclosure focus on the numbers — the equity, the debt, the timelines. But behind every notice of default is a family trying to make sense of something they never thought would happen to them.

I recently spoke with a homeowner who had fallen behind after a medical emergency. They weren’t lazy, careless, or financially reckless — just overwhelmed. They’d been avoiding calls, ignoring letters, and living with this quiet dread that it was all too late.

Here’s what struck me: once we walked through what foreclosure actually meant — the process, the timeline, and the possible solutions — their whole mindset changed. They realized there were still options. They could negotiate, apply for a modification, or even sell on their own terms instead of losing everything.

That moment made me rethink how I view foreclosure. Sometimes, helping someone through it isn’t about “getting a deal.” It’s about giving them back a sense of control they thought they’d lost.

For those who’ve been around foreclosure situations — investors, agents, or even homeowners — have you seen this shift too? How often do you find that education alone changes the entire outcome?

the mentality has not changed I bought my first foreclosure in the late 70s and hundreds of purchases since.  Owners all have a story some worse than others but reality is most are just horrible money managers.. Cant tell you how many I have sat down with when I used to do this in person and say a 300k home with a 275k mortgage and in the drive way was a 60k SUV a 30k Honda and of course a motor home or boat as well. All things that are simple to buy with credit and bury people in debt.. I have had them simply tell me they had no clue how they got to where they are at.

I have had others that lied to spouse and had gambling problems.. come knock on the door after I bought it at the court house steps and the spouse was unaware the house was even in foreclosure and they just lost it.. 

3 attempted suicides after buying at courthouse steps one successful  its a very emotional side of the business no doubt.. but nothing has changed from what you are experiencing today and what has been ( at least my experience) over the last 40 years dealing with NODs and court house steps.