Friday, July 30, 2010

Home Foreclosures: The Viscous Brown Stuff Hits The Fan

Home foreclosures are continuing at a brisk pace, according to an article by McClatchy News.   Many of the first foreclosures that began three years ago, when the housing bubble began to burst, were for subprime mortgages.  Now, however, a fresh batch of foreclosures is occurring because people have lost their jobs and can't pay them.  I am now in that category.  I didn't pay my July mortgage payment and probably will miss August as well.  I haven't been answering the phone, which rings constantly from bill collectors.

Our savings kept us afloat for a year.  When it was gone, I borrowed the equity out of my life insurance.  That's gone too.  We were hoping to ride out this recession, to survive until it was over.  However, it is the longest lasting and deepest recession I have ever seen.  And I remember when Eisenhower was president, to give you some perspective.  (Okay, okay, I actually remember when Truman was president, but I was VERY young.  Practically a fetus, mind you.)

It's just a matter of weeks before I lose my home. I never, ever thought I'd be in such a predicament.  This happened to other people, sure, but not to me.  I am a college graduate and a CPA.  Accountants were supposed to be immune from unemployment.  Not any more.  The fact that I am well past 50 doesn't help.  Seniors and new grads are the hardest hit.

I am not feeling sorry for myself.  I am pissed, but have entered a phase of my life where nothing surprises me anymore.  If one could get jaded to bad news, political malfeasance and power-grabbing, I am about there.  No outrage now seems to surprise me.  The neo-Marxists now running the country are capable of the most outrageous usurpations of the Constitution, which in effect, is no longer the law of the land.  It is merely a quaint old parchment kept under glass in the museum of history, for people to gawk at.  The economy is being destroyed by fools, mostly Democrat fools, but with the assistance of RINO Republicans who haven't the sense or the gonads to resist.

I have come to the conclusion that it is futile to look for a traditional job.  Somehow I have to think differently, act differently.  I have to have a plan, and I don't have one right now.  This weekend I will try to think of workable scenarios:  what to do and where to go, when.

Related video:  Money Makes The World Go Round (from Cabaret)

14 comments:

Stogie said...

THis is a horrible situation to be in Stogie.  I will be praying for you and your family.
It's impossible to find a job, I know, I've been looking for about 6 months.  I am trying to come up with a plan too, and it's not easy.  Nothing surprises me anymore either.  I think the only hope for
workers over 35 is to just try and find several part time jobs.  I can't even afford health insurance,
and my mortgage situation is precarious, as well.  God Bless.

Stogie said...

I'm counting my blessings, Stogie. Lucky to have a job. I sent you an e-mail. Let me know how to help.

Stogie said...

I hear you Bunni.  I wouldn't be adverse to sweeping out Safeway at night, any kind of job would be okay.  I hope we both survive this without having to move into cardboard boxes!  Good luck and God bless!

Stogie said...

Thanks Donald!

Stogie said...

We know where you are at - Just keep praying as that is all we can do

Stogie said...

Stogie - I'll fire you off an email too and also am posting on this as well. Keep the faith

Stogie said...

I don't have any extra money at the moment, but I will send you some in a few weeks. 

I will say a prayer for you, just remember, you will get through this.  I went through something pretty horrible some years back and I just told myself every morning I had to keep moving forward.  It taught me a great deal.  A lousy way to learn some lessons, but lesson I did learn.  You will find yourself on the other side of this, just keep the faith. 

Stogie said...

Thanks Conservative Girl.  I will try to follow your example, and keep moving forward.  This past week I really hit the skids mentally, becoming despairing and depressed.  The kindness and prayers of people like you have definitely lifted my spirits.  Thank you so much!

Stogie said...

Will do, Deano.  I thought God had forgotten about me but you all have proved that I was wrong to think that.

Stogie said...

Thanks my friend.  I have always valued your friendship, with good reason.

Stogie said...

I'll be posting on my blog too as soon as I get a moment.  (knowledgeczar.blogspot.com)

Stogie said...

Thanks Sophs!

Stogie said...

Good luck. We don't have much, but thankfully it's all paid for. I'm thankful my wife resisted our going into debt on a house a few years ago. We live in our 35 foot travel trailer on our property, all paid for and we paid off both our vehicles. The bursting of the housing bubble really hurt us as you can imagine. You'll make it. Have faith.

Mike

Stogie said...

Thanks Mike.  I appreciate your thoughts.