Foreclosure problem, or borrowing problem?

From MarketWatch:

A decade after the housing crisis, foreclosures still haunt homeowners

Maria Landi, a 75-year-old retired insurance specialist, and her husband John, had been making payments on their East Brunswick, New Jersey home for 40 years when Wells Fargo foreclosed on it in 2010.

At the time, John Landi was forced into early retirement by the financial crisis from his job as a producer at ABC and 20/20. The couple could no longer afford to make the monthly payments on the home where they raised five children, and were forced out in 2013 after three years of trying and failing to apply for loan modifications from Wells Fargo.

“We had countless holidays, baptisms, communions, confirmations and birthdays in that home,” Maria Landi told MarketWatch. “We had graduations, engagements, weddings and, of course, end of life moments. Our blood, sweat and tears went into this structure. Renovations, additions and many accommodating improvements were put into this, what some may call just a building.”

The home was initially purchased for $49,000 and was later valued at $750,000 after the Landis renovated it and made additions to the home. But after the Landis got the foreclosure notice from Wells Fargo, it was appraised at just $450,000, far below what the Landis owed on their mortgage.

This entry was posted in Economics, Foreclosures, New Jersey Real Estate. Bookmark the permalink.

98 Responses to Foreclosure problem, or borrowing problem?

  1. ExEssex says:

    Trump is stupid.

  2. 1987 Condo says:

    So backing up dates 10 years to circa 2008, they were 65 years old and in the house for 30 years, so, in theory, enough to pay off a mortgage, but they still owed enough that a job loss at age 65 had them lose their home. Yikes!

  3. ExEssex says:

    Please someone call the waaaaaaabulance .

  4. The Original NJ ExPat says:

    SEN. KAMALA HARRIS HAS A LOT TO SAY about Supreme Court nominee Brett Kavanaugh: The California Democrat’s campaign has posted some 3,600 different Facebook ads about him, according to the social media site’s ad archive.

    No other senator appears to be doing as much Kavanaugh-related advertising on Facebook.

    Ms. Harris, who serves on the Senate Judiciary Committee, had dozens of active Kavanaugh ads up as of Wednesday afternoon, a day before all eyes will be on the committee as senators listen to testimony by Judge Kavanaugh and one woman who has accused him of sexual assault.

    The ads are slight variations on the same message, urging voters to sign a petition opposing Judge Kavanaugh. Most ads highlight what she says is his opposition to Roe v. Wade and loyalty to President Trump. Ms. Harris’s petition links to a fundraising page suggesting contributions of $15 or more to her campaign. She isn’t up for re-election this year.

    A potential 2020 Democratic presidential contender, Ms. Harris is a heavy user of social media. A New York University study of Facebook advertising from May to July found that she was outpacing all other senators in her use of paid ads on the platform, according to the Mercury News, which wrote about the study.

    Julie Bykowicz

    https://www.wsj.com/livecoverage/campaign-wire-2018-midterms/card/1537991168

  5. The Original NJ ExPat says:

    Good one. You are integrating well with your community and average intellect level. BTW, good idea selling the Harley, you probably don’t have the IQ or testosterone necessary to ride one anymore.

    You are kind of an East Coast zombie now, right? Up at 3AM Pacific time, stumbling and decaying, gut(s) hanging out. Barely recognizable as your old self.

    ExEssex says:
    September 27, 2018 at 6:13 am

    Trump is stupid.

  6. D-FENS says:

    Things are getting absurd. Trump has leftists attacking George Washington on social media now.

  7. The Original NJ ExPat says:

    Two men have come forward to members of the Senate Judiciary Committee to claim that they are the ones who actually assaulted Christine Blasey Ford during a house party in 1982 — and not Supreme Court nominee Brett Kavanaugh.

    Republicans on the committee released a timeline of events late Wednesday, which included details about their interactions with the two men who admitted to the attacks.

    On Monday, the timeline recounts GOP staff members interviewing “a man who believes he, not Judge Kavanaugh, had the encounter with Dr. Ford in 1982.”

    The “encounter” refers to an episode in which Ford claims that Kavanaugh sexually assaulted her in the bedroom at a Maryland house party.

    They had a follow-up interview with that man, and he provided more detail about the assault.

    Then on Wednesday, the committee staff said they spoke with a second man who said he assaulted Ford in 1982.

    The committee did not release any more details about the men, or why both were coming forward with the claims.

    https://nypost.com/2018/09/27/two-men-tell-senate-that-they-not-kavanaugh-assaulted-ford/

  8. Yo! says:

    Borrowing problem. Why do people living in house for 40 years have a $450,000+ mortgage? Lousy journalists should’ve written the answer to this question.

  9. chicagofinance says:

    Is the above true? It doesn’t matter. It just reflects how flimsy all the attacks on Kavanaugh are. We have truly hit a new low in discourse……..everyone can believe whatever they want now…….. I will say that the Democrats overplayed their hand. I think they could have parlayed this incident into greater impact to the elections. Now, I have no idea……

    Unmitigated sh!tshow….. the whole thing……I’m numb
    https://www.youtube.com/watch?v=03eU7iFwiLo

  10. 1987 Condo says:

    …nevermind…

  11. Bystander says:

    “We had countless holidays, baptisms, communions, confirmations and birthdays in that home,” Maria Landi told MarketWatch. “We had graduations, engagements, weddings and, of course, end of life moments. Our blood, sweat and tears went into this structure. Renovations, additions and many accommodating improvements were put into this, what some may call just a building.”

    HELOCs anyone?

  12. Dumbass says:

    7:12 you are reaching toolbag

  13. Libturd...look me up in Costa Rica says:

    He better not reach for my toolbag.

  14. ExEssex says:

    Ur traveling with him. He’s gonna thrill you with endless yarns of his fascinating life and times….yeeeeesh

  15. HEHEHE says:

    “I will say that the Democrats overplayed their hand. I think they could have parlayed this incident into greater impact to the elections.”

    I don’t see this dog and pony show doing anything good for the Democrats. Polling suggests the Democrats are ahead in the mid-terms and will take the House. They have WAY more to lose from this. Especially when you have idiots like Avenatti trotting out nuts with ridiculous claims.

  16. ExEssex says:

    They’re gonna put a stake in this preppy rapist.

  17. Fast Eddie says:

    Essex,

    Don’t you have a job now? Aren’t you working?

  18. ExEssex says:

    Hey Eddie, you mindless piece of shit. If I wanted to chat with you i’d squeeze a turd. Dumbass

  19. Fast Eddie says:

    Evidently not. I rest my case.

  20. Randy Wilturn says:

    You a lawyer now You little faghot??

  21. Yo! says:

    Landi houses taxes = $18,300. 4% of market value.

  22. Fast Eddie says:

    Omg, what a circus.

  23. leftwing says:

    “I don’t see this dog and pony show doing anything good for the Democrats. Polling suggests the Democrats are ahead in the mid-terms and will take the House. They have WAY more to lose from this. Especially when you have idiots like Avenatti trotting out nuts with ridiculous claims.”

    ^^^This.

    Especially when the freak show elements like Booker and Blumenthal get their grandstanding going.

    I think he will be confirmed but I am OK with the consolation prize:

    Judge Barrett (female, more conservative than Kavanaugh) nominated.
    Three new Senate seats for Red – IN, ND, and WV.

    Blue does not appreciate how Red/Indies believe this guy is getting railroaded. If Kavanaugh is shot down those three States flip. They have Dem senators up for election in Nov and those States voted Trump in the election by 20-40 percentage points.

  24. chicagofinance says:

    She is completely telling the truth as she remembers it. HOWEVER, she is such a snowflake that I do not think that anyone can rely on anything she says. She is loony tunes……. I do feel very bad for her, but she is a mess.

  25. Fast Eddie says:

    The music was too loud for anyone to hear her screaming but she heard conversations. Hey Essex, maybe I should have been a lawyer.

  26. chicagofinance says:

    I think the deconstruction of all of this testimony in the news between now and the elections will be very interesting……. if anyone thought my above post was crass, I apologize. I really do not like this proceeding…..

  27. ExEssex says:

    11:07 I disagree. But then you probably aren’t too familiar with accomplished women.

  28. ExEssex says:

    She looks credible. Now let’s hear from the blackout drunk …

  29. HEHEHE says:

    I am surrounded by avid Dems at work. They think he’s toast. I have work so can’t watch. I believe most people’s political affiliations are going to influence her believability.

  30. HEHEHE says:

    Having watched she seems credible. More credible than Anita Hill.

  31. Grim says:

    He is done, she is credible.

  32. chicagofinance says:

    I wrote something and deleted it….. I tend to look at this stuff through the lens of pragmatism….. maybe I have dealt with too many depressed people all around me in my life…… the first reaction is empathy, but in the greater scheme, depression is a form of narcissism….. when I think of everyone around her who has needlessly had their lives destroyed….. why? Because her pain is more important than anything else…….. today didn’t even need to happen after everything…. she is getting Kavanaugh back good though…… and I’m sure he deserves it…… I know the exact type…….

    ExEssex says:
    September 27, 2018 at 11:25 am
    11:07 I disagree. But then you probably aren’t too familiar with accomplished women.

  33. chicagofinance says:

    I can’t attend….. but Amy Wax….

    https://www.onedayu.com/events/detail/877

  34. leftwing says:

    “He is done, she is credible.”

    She was always going to present credibly. Dems would not have let her in the building if not. I don’t think that’s the benchmark.

    The prosecutor is dry, but she is building a case that Ford is confused, and not just over what exactly occurred in the bedroom.

    My bet is the ‘compromise’ will be an FBI investigation on very narrow points coming out of today. That limited investigation can be done quickly. Who was in house, what do they remember, who gave her a ride, etc. The conclusion will be inconclusive, the investigation won’t be able to determine whether the event occurred between her and Kavanaugh or not.

    On basis of that, confirmed.

  35. HEHEHE says:

    Blumenthal isn’t doing the Dems any favors :)

  36. chicagofinance says:

    Did you fcuking catch that Ford just screwed up that her Grandmother’s funeral was originally on the same day as the polygraph, and then changed her testimony to say that she had slept overnight and then took the polygraph?

    It seems trivial, but that was just 10 weeks ago and she blows a major detail such as that?

    I am going to bet that tons of people are going to focus right there…..

  37. chicagofinance says:

    To be clear…… I literally don’t care what happens to Kavanaugh……

  38. Libturd...look me up in Costa Rica says:

    I would argue that the less credible she is, the more likely it is that she’s not lying. The rich boys in Glen Ridge chose to abuse a girl who did not have the mental capacity to realize the severity of what was going on. Ford, though not exactly mentally retarded, is definitely dizzy headed. So dizzy headed that (in my opinion) I highly doubt she could have made all of this up. And you guys I know I have no horse in the race and view the good and bad in both parties quite similarly. Looking at a situation without bias is difficult, but it’s something I’m quite good at. Heck, fans of sports teams hate sitting with me because I cheer nice plays for both teams. I wouldn’t put it past these Republican assholes to confirm another asshole. With that said, my longstanding view of politicians in both parties is not changed in anyway.

  39. chicagofinance says:

    I took a leak and changed my mind. I want Kavanaugh sh!tcanned, because ultimately it knocks the momentum out of the left wingers……. they will be sated and the elections in 6 weeks will not be as energized…… “rope a dope”

    chicagofinance says:
    September 27, 2018 at 12:48 pm
    To be clear…… I literally don’t care what happens to Kavanaugh……

  40. Libturd...look me up in Costa Rica says:

    Chi,

    I caught that too. She’s ditzy. But not so ditzy that she comes across unbelievable. She comes across incredibly likeable and honest. Women in this country are going to completely flip out if she is confirmed. If I had a vote on the confirmation, a lot of good can be done by denying Kav the seat. Without it, a lot of women in both parties are going to think twice about support Repubs. And what do these Repubs gain by approving him? The smart move would be to find a Republican Women to serve. But these guys are not THAT smart.

  41. chicagofinance says:

    But everyone in NJ MUST VOTE OUT MENENDEZ!!!!!!!!!!!!!!!!!!!!

  42. Fast Eddie says:

    The smart move would be to find a Republican Woman to serve.

    I thought of the same.

  43. Libturd...look me up in Costa Rica says:

    The only option left is for Kav to claim he’s queer.

  44. HEHEHE says:

    I don’t care much either.

    I was more concerned re what was looking like a hijacking of the process by the Dems with some bs allegations.

    Now it’s more the curiosity factor.

    Even though she seems credible there’s a marked lack of detail in her story (where this took place, who was there etc.) and the fact she never told anybody immediately afterwards, or for all those years, isn’t helping her.

    See how the rest plays out. Doesn’t look good for the party animal.

  45. Walking bye says:

    I thought it was great to hear Kavanaugh clarify he never slept with more than one woman at a time. Followed by this zinger “I never had a threesome”. I felt bad for the guy.

  46. Walking bye says:

    With the majority of women experiencing some sort of cat call, to groping/ unwanted advances or even worse, many women will find her credible.

  47. Libturd...look me up in Costa Rica says:

    Can we all just agree that the two party system is seriously flawed? We need a Knesset.

  48. leftwing says:

    “The smart move would be to find a Republican Woman to serve.”

    Problem is that Trump had to promise Kennedy that he would nominate Kavanaugh to get Kennedy to retire.

    Barrett was a much more logical choice for Trump, and appealed especially with her non-Ivy background given Trump’s visceral dislike for the Harvard/Yale crowd.

    On the vote, team Red placed their bet and need to get it done before the election. Not one Red senator will lose a seat because of this vote. Most vulnerable is Cruz.

  49. Libturd...look me up in Costa Rica says:

    Sadly, it’s less about Kav now. It’s all about the women vote. Dem’s won this battle. First time, long time though. Like I said before. Repubs can win momentum back by appointing a clean women to the SC. Make her pro life and they’ll have the white house forever. Will never happen.

  50. leftwing says:

    Thought of the day…

    The Chinese civilization is, what, 4000 years more advanced than we are?

    They kill their females in utero.

  51. Libturd...look me up in Costa Rica says:

    Left…we’ll see. You might be right. Memories are short. Not looking forward to the short-term implications. Could be a lot more puzzy hats and pacifiers in the near future.

  52. Libturd...look me up in Costa Rica says:

    “4000 years more advanced than we are?”

    What are you talking about? They still eat with sticks.

  53. leftwing says:

    No broadcast is showing the butch dyke lawyer to Ford’s right, even when she speaks.

    Even the libs know that will cost them 2-4% of vote in light red/light blue states.

  54. Swiftly Magullicudy says:

    Lefty are you the top or the bottom in ur house?

  55. Fast Eddie says:

    He’s unleashing it all.

  56. ExEssex says:

    44 per cent of unmarried women and 42 per cent of unmarried men in Japan admitted they were virgins in The 2015 National Fertility Survey.
    The study also found 60 per cent of women and 70 per cent of men aged 18-34 said they were single.
    Now, as the government battles to increase the birthrate, a TV documentary by The Feed titled Sex in Japan: Dying for Company has attempted to answer why young people are having less sex.

  57. FujiKora says:

    Who doesn’t enjoy a cremepir in the evening…

  58. Fast Eddie says:

    He’s f.ucking credible.

  59. 1987 condo says:

    He does seem credible.

  60. ExEssex says:

    3:24 he’s a blackout drunk with exploits chronicalled by his wingman. Dunzo

  61. Brian Boyle says:

    He’s battling back hard. I think if he keeps it up he’s confirmed.

  62. Libturd...look me up in Costa Rica says:

    “44 per cent of unmarried women and 42 per cent of unmarried men in Japan admitted they were virgins in The 2015 National Fertility Survey.”

    Oh yeah? Ask them how many had tentacle sex? Plus, how are you supposed to find the hole the first time when it’s all blurred out like that?

  63. leftwing says:

    These idiot libs are pissing off the swing vote of the Court for the next two decades.

    Judges are generally balanced but they have their biases. I hope he gets confirmed. Anything coming up with even a tint of blue is DOA. Dumb fcuks. LOL.

  64. leftwing says:

    Stupid liberals found one of the few humans that kept a physical calendar annually for the last 35 years.

    Versus, sometime, somewhere, some year, somehow, with someone bringing and taking me……….

  65. HEHEHE says:

    To be honest I don’t know who to believe now.

  66. Libturd...look me up in Costa Rica says:

    Feh. For whatever reason, supreme court justices take their job way more seriously than their politics. This has been seen time and time again. This is why I really don’t fret who gets appointed. I think this also why both sides have historically not put anyone on who was too lopsided politically. I thought Alito and Soto might both change this, but as usual, they tempered their past history of voting once affirmed to the Supreme Court. I’m guessing Cav will as well.

  67. Libturd...look me up in Costa Rica says:

    You do have to laugh at a person who saves a calendar for 35 years. If he’s not a sex offender, then he’s definitely a hoarder!

  68. The Original NJ ExPat says:

    I can just imagine Essex in a public setting, it can’t be pretty. Probably a good thing that he day drinks at home.

  69. ExEssex says:

    I’m a brown eyed handsome man.

  70. Libturd...look me up in Costa Rica says:

    None of us want to hear about your brown eye.

  71. ExEssex says:

    Blink Blink

  72. chicagofinance says:

    left……should have shorted Tesla….. too late…

  73. leftwing says:

    Was able to ring the cash register once on TSLA.

    Have a bit of knowledge of corporate M&A. Shorted it on the bump when the 420 came out. No way that ever had any chance whatsoever. Wish I had more ba11s to hang with that view with conviction.

    Otherwise, I don’t dabble that much in the real high vol stuff.

  74. Libturd, rape trainspotting like Kavanaugh says:

    I wouldn’t sell a short in TSLA until it hits 35.

  75. grim says:

    To be honest I don’t know who to believe now.

    This is impossible.

  76. grim says:

    Although the last 15 minutes of Kavanaugh’s testimony hasn’t been positive.

  77. leftwing says:

    All options, defined risk. No straightup shorts.

  78. grim says:

    Crashing and burning, this guy is not supreme court material.

  79. The Original NJ ExPat says:

    Since there is no statute of limitations in MD, why hasn’t a police report been filed so an investigation can begin?

  80. ExEssex says:

    He never was. Trump liked him because he went on record saying Presidents could legally break the law and not be held accountable. Duuuh

  81. ExEssex says:

    5:29 Stay tuned.

  82. leftwing says:

    Lindsey Graham for Intergalactic Emporer.

    And I never really liked him.

    Not sure who would be more qualified for the Supreme Court. Suggestions? Guy’s resume is solid gold.

  83. leftwing says:

    Feinstein looks like death. She’s the fall guy.

    She’s blown any bridges she had on the right. The New Left never really liked her (too old, out of touch, etc) so if Kavanaugh is in they’ll flame her.

  84. ExEssex says:

    She’s 80 and looked/sounded better by far than Grassley. His days are numbered. Iowa is crushed by tariffs anyway. He’s done.

  85. leftwing says:

    85 I think. Grassley leaves the Senate toes up. Feinstein will likely win in November as her opponent looks weak, but who knows.

    Seat Kavanaugh, a Hispanic Democrat challenger in November, even if he is older and non-establishment, who knows…wouldn’t make an odds on bet that she’s gone but not out of question.

    She’s lucky she’s up for election in November and through the primary now. If Kavanaugh gets seated and she had to run in 2020 instead you would likely have a Ocasio-Cortez situation in the Republik of California.

  86. leftwing says:

    Blumenthal is an absolute freak.

    That guy has to have some seriously weird skeletons in his closet…..

  87. ExEssex says:

    Sir, do you believe is Gaaaaawd??

  88. leftwing says:

    So which way does Flake go.

    He can’t vote him out of committee and then shoot him on the floor.

  89. ExEssex says:

    Angry White Men with slight effeminate characteristics never gets old.

  90. leftwing says:

    Best indicator of which way this will go is the the long faces on the libs – CBS announcers, etc.

  91. leftwing says:

    “Angry White Men with slight effeminate characteristics never gets old.”

    Dude, pair Blumenthal with Menendez and that freak won’t even be allowed on the dark web.

  92. ExEssex says:

    Graham’s queerer than a three dollar bill.

  93. leftwing says:

    Can’t hold a candle to Menendez fcuking boy prostitutes in the DR or whatever Blumenthal does. Guy is going to give me nightmares.

  94. ExEssex says:

    That is pretty F’ed up. Good Lord we are really and truly screwed.

  95. Mike S says:

    Seriously how do you vote for menendez?

    I listened from around 515 to 615 pm and these democratic senators are a damn joke.

    Can’t someone have a few drinks in high school / college?

    I am pretty sure 50% of the people I know are never allowed to hold public office due to blacking out at some point…

    This is a witch hunt.

    I don’t support republicans or democrats, but I really really can’t find myself to ever vote for a democrat. They are insane at this point.

  96. HEHEHE says:

    Keep in mind what you saw today was only 21 of the Senate freak show. The best and brightest our country has to offer.

    End of day most people are going to walk away seeing what they want based on their political viewpoint. The woman seemed credible but I don’t know how you don’t remember how you got to and from a party at a house that you can’t locate or name any other people there but be 100% sure the frat boy did it to you.

  97. Libturd...look me up in Costa Rica says:

    “End of day most people are going to walk away seeing what they want based on their political viewpoint”

    And if that’s how citizens behave, lord knows our politicians are even more likely to behave this way. Always remember. The masses are asses!

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