Foreclosure Angel: Stranger Buys Foreclosed House at Auction and Gave it back to Owner!
Posted on October 26, 2008
Filed Under Foreclosed Houses |
Foreclosure angel
A woman buys a stranger’s foreclosed home… and gives it back to her. WFAA has the story.
Stranger buys foreclosed home and gives it back to homeowner
This is a nice story with a happy ending. No matter who you think is at fault in this mortgage meltdown, there are individual stories out there that should be heard. I’m pretty confidant the woman in the story who lost her home wasn’t a super slick financier playing the market. I suspect she is a regular wage earner who got into trouble by taking out a 2nd mortgage to feed her family. What a contrast with the 100’s of millions the Wall Street fat cats stole. Could have bought a lot of these $50K houses…..
Foreclosure auction makes house ownership possible for some
By MONIKA DIAZ / WFAA-TV
DALLAS - More than 500 bargain hunters hit the Dallas Convention Center Saturday to bid on the American Dream that has ended up in foreclosure.
The misfortune of others is now an opportunity for those trying to buy into the housing market.
In this tough housing market, more first-time home buyers are attending these auctions, to see if they can get their dream home for less.
Today, two families gave the auction a shot and walked out of the convention center saving thousands of dollars.
This intense, fast-paced event at the Dallas Convention Center featured more than 200 foreclosures in North Texas.
This intense, fast-paced event at the Dallas Convention Center featured more than 200 foreclosures in North Texas, an opportunity that’s now drawing more than just investors.
It was an overwhelming experience for the rookies.
More first-time home buyers are heading to auctions during this housing crisis, trying to find a bargain.
Christy Bond and her soon to be father-in-law came looking to score a deal on a foreclosure in Rockwall valued at $149,000.
“It went around once, the property that we were bidding on and it went higher than what we were willing to pay for it, so we waited and waited,” she said.
The first contract fell apart so they got another shot to bid on the home. They got it and saved nearly $20,000.
“We decided let’s make a gamble and go to the auction and it turned out to be a good decision,” she said.
Banks and lenders are turning to auctions to get rid of their foreclosure inventory - an inventory that’s growing because of the mortgage meltdown.
For one immigrant family, their dream of homeownership has finally come true.
They will soon call a house in Corsicana home.
“We have a big family and most of us don’t fit, most of the time,” said Isabel Cruz.
E-mail mdiaz@wfaa.com.
http://www.wfaa.com/sharedcontent/dws/wfaa/latestnews/stories/wfaa081025_lj_diaz.14b169d4f.html#
http://www.cnn.com/video/#/video/us/2008/10/26/diaz.tx.foreclosure.angel.wfaa
http://www.cnn.com/video/#/video/us/2008/10/26/diaz.tx.foreclosure.angel.wfaa
Duration : 0:2:22
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“Because people …
“Because people should help each other. And that’s all there is to it”. Very classy. Thank you for renewing my belief in human generosity and kindness.
I saw this today on …
I saw this today on CNN & it was really touching. Such a cool thing. Great video! Totally positive! I love it when they asked her why she did it & she said, “I think anybody would,” but I think she’s special.
That is awesome!! …
That is awesome!! Marilyn Mock is a saint. People should pool together money to repay her.