Quotes & Sayings About Foreclosure

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could. — Robert A. Schuller

These days, there are sheriff squads whose full-time job is to carry out eviction and foreclosure orders. There are moving companies specializing in evictions, their crews working all day, every weekday. There are hundreds of data-mining companies that sell landlords tenant screening reports listing past evictions and court filings.2 These days, housing courts swell, forcing commissioners to settle cases in hallways or makeshift offices crammed with old desks and broken file cabinets - and most tenants don't even show up. Low-income families have grown used to the rumble of moving trucks, the early-morning knocks at the door, the belongings lining the curb. — Matthew Desmond

Giving debt relief to people that really need it, that's what foreclosure is. — J. P. Morgan

Your heavenly home was bought for a price, and that payment results in a title deed that can never be lost through foreclosure. — David Jeremiah

Fannie Mae has traditionally only bought and sold mortgages. But when a loan held by the company goes into foreclosure, Fannie Mae gains ownership of the underlying property until it is resold to new investors. — Charles Duhigg

A foreclosure does not define you financially. — Michelle Singletary

Here are the top three warning signs [you're at risk of foreclosure]:
* You used to think nobody cared when your phone rarely rang. Then you missed a couple of house payments.
* You're glad gas prices have fallen so you can afford it if you have to move into your car.
* You're ready to say, "Let's make a deal" and trade your upside-down house for whatever's behind Door #3. — Kathryn Alesandrini

Every day there are homeowners in California who will either receive relief so they can stay in their home, or will be in the foreclosure process and potentially lose their home. And that always weighed heavily on my mind. — Kamala Harris

By late 2008, one out of every five mortgage holders owed more than their homes were worth. The banks called in the loans, and the foreclosure notices piled up. — Elizabeth Warren

Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure. — Henry Paulson

UC Merced is the University of California's newest campus and lies among farm fields in the San Joaquin Valley, 2 1/2 hours east of San Francisco and not far from where I spent most of my childhood. It's a part of California that has suffered deeply from the recession with high unemployment and a skyrocketing home foreclosure rate. — Lester Holt

The key to house prices is the share of foreclosure or short sales in the total housing market. When that share rises, house prices will fall, because distressed properties sell for significantly less - currently around 25 percent below non-distressed houses. — Mark Zandi

We all have the ability to be successful. But the truth about success is that it starts from within you. It starts by changing your internal thoughts about how you feel. Once you do that, the world is in your hands. You literally have the ability to have anything you want as long as your internal thoughts truly reflect what you want in your life and what you believe you can achieve. — Monica Breckenridge

The pain and shame felt are unknown to those with planned vacations. They know not of the tsunami that rescinded the homes, goals, and hopes of its victims - swallowed by the sea of greed. — John-Talmage Mathis

The newest victims of the nation's foreclosure crisis are pets, which is extremely distressing to me. — Margaret Cho

I didn't know anything until December 2004 when I went to purchase a vehicle and was told there was a foreclosure on my credit and I wouldn't be able to get the car. I've still got a red flag on my credit. — Claude Brown

From the Bronx to Buffalo, cities and towns in New York have been plagued by what are commonly called zombie properties. These are homes that residents abandon - often after they have received a foreclosure notice - which then languish, uncared-for, until the foreclosure process is complete. — Eric Schneiderman

The moral angle to the foreclosure crisis - and, of course, in capitalism we're not supposed to be concerned with the moral stuff, but let's mention it anyway - shows a culture that is slowly giving in to a futuristic nightmare ideology of computerized greed and unchecked financial violence. — Matt Taibbi

It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed. — Mark Zandi

Well, actually, if you can stay in your home that is a better deal for the neighborhood. It's certainly a better deal for the person that is in their home, rather than to be on the street and for that house to go into foreclosure and become a problem for the whole community. — John Garamendi

Consumers going through foreclosure typically will see their credit scores drop, raising longer-term questions about their ability to rebound financially and perhaps pursue a more sustainable home purchase at some later point. — Ben Bernanke

Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure ... The credit crunch and foreclosure problems are failures of government policy. — Walter E. Williams

You never cash out a 401(k) or IRA to pay off debt, unless it's to avoid a foreclosure or bankruptcy. — Dave Ramsey

Oh, and 13.1 million American people had their homes foreclosed. Because their debt, it turns out, was real; it was only the debt within the financial sector that was imaginary. It was only the people who generated the crisis who got three magical wishes from an economic genie. There was no abracadabra for ordinary people; they just got abraca-fucked. — Russell Brand

Nevada was hit hardest by the recession - highest unemployment, highest foreclosure rate, highest bankruptcy rate. — Brian Sandoval

own trouble he was paying for. I handled his mother's foreclosure defense and got her — Michael Connelly

When the first of us failed at growing or herding or plowing the fields, we were told that we could sign a piece of paper and get money for the land, without anyone taking it. Mortgage, this was called, a piece of banker's cleverness that sounded good to many. I spoke against this trick, but who listened to Nanapush? People signed the paper, got money, came home night after night full of whiskey and food. Suddenly the foreclosure notices were handed out and the land was barred. It belonged to someone else. — Louise Erdrich

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity. — Mark Zandi

Don't try to stop the foreclosure process. Let it run its course and hit the bottom. — Mitt Romney