Learning Center » foreclosure pets

Foreclosures Are Forcing Many to Give Away Pets

Julie Parker — Mon, 15 Jun 2009 17:37:30 +0000

Foreclosures are largely responsible for the economic downturn, which has caused many homeowners in give away pets. Unfortunately, it is often a heart rending decision.

One of these animal victims is Julie-a pit-bull terrier. She had to be removed from a home in Orange County because her owner could not look after her anymore when indifferent health and huge medical bills took over the homeowner’s life. Julie had to go on languishing for months in the kennel as the breed due to the fact that pit-bulls are considered dangerous.

This same story, with variations, is being enacted all over the country. Unfortunately, the financial downturn is forcing many to part with their beloved pets, which can leave a profound psychological mark on children.

Experts advise that one should think in terms of a pet’s long-term welfare. As soon as one begins to descend into financial troubles, it is better to hunt for a good home while there is time. There are also many other reasons that may cause this decision to be taken – allergies, illnesses in the family or any other personal trauma.

When deciding on where to give your pet away to, consult your friends or family first. The Society for the Prevention of Cruelty estimates that about 1 million dogs and cats are facing potential danger of becoming homeless. If the animals are given away well ahead of time, then children will not worry about what has happened to their beloved pet. The ideal situation would be to give your pet to someone you know and allow the family to visit it in order to ease the pain of separation for both parties.

Riverside County is one of the worst affected regions. The Riverside County Department fervently requests that evicted foreclosure victims either somehow keep their pets or find someone who will house them for the time being. However, abandoned cats pose more of a problem than abandoned dogs. The shelter has made a list of all the apartment units where dogs will not be refused. As long as the dog has space to be taken a walk in, keeping a dog in a apartment unit should not be a problem.

Alan Entin, formerly of the American Psychological Association said, “Giving up a pet may be the worst thing. They really help reduce stress,” he says. Losing a pet when life is already stressful may just make things worse.”

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Foreclosure Recap – Week #22

Kevin Simpson — Mon, 08 Jun 2009 18:23:58 +0000

The New York Daily News reported on a Mortgage ring that had been busted by the federal government. It reportedly a $10 million dollar scam that has left folks in both New York City and on famed Long Island facing eviction. Essentially the company would approach people facing foreclosure of property worth between $200 and $500 thousand dollars and convinced them to sell the property to people that they had recruited. They told the homeowners that the buyer would make the payments and allow the homeowners to stat in the homes until they could be sold for a profit. The company then took out mortgages for more than what was owed on the homes leaving the homeowners with no property and no money. If you are interested in reviewing this, the full story can be found and read here:

Today many people are considering bankruptcy as an option to the financial crisis that they are sharing with the country. There is a lot that needs to be considered before anyone takes this step due to the impact that it can have on your long term financial well being and credit worthiness which can affect getting a new home and even jobs these days. Anyone facing foreclosure that is considering this as an avenue to try and salvage the house needs to review the option very carefully and should start by reading the article that is posted here:

A newspaper in Annapolis is quoted as saying that in the second wave of foreclosures sweeping that area, the numbers of foreclosed property has tripled in the month of April. A representative in that area is quoted in the article as saying that this rate is expected to continue at least throughout the rest of this year and another source says that the elevated foreclosure rate will indeed continue for several years to come. The article also goes on to say that when people are leaving a foreclosed property, that they are sometimes taking things like the chandeliers and other items that can be sold for cash. This leaves a fairly large and sometimes costly mess for a person buying the property to handle. The
full article can be found here:

This particular article tells us what we already know, foreclosure rates are continuing to increase and that the prices are continuing to drop. In fact, the article went on to predict a large flood of foreclosures is expected to happen this coming summer as jobs are lost and the economy hits a new low in part due to things like the auto industry and the impending implosion therein. Options were once very limited for first time home buyers but now with this depressed market there is a wide range of options available and the prices are so low that people who once had little to no chance of owning a home, may just be doing so. The details make for interesting reading here:

This is an area that we don’t think of when thinking about foreclosures. As people vacate homes where they have been foreclosed on they tend to not be so tidy about things and the yards of the foreclosed property that they are leaving tend to get cluttered with debris. While it is unsightly, it can also be dangerous. The article points out that in places like Florida, which is prone to being hit by hurricanes this left over junk can become flying weapons that can kill and maim folks as it is tossed about by the hurricane force winds that come as the storms move in. It is also not actually clear who has the responsibility for preparing those homes in the event of an impending storm. The article raises a lot of valid points and is well worth a few moments time to review it here:

The Miami Herald reports that in a bizarre turn around, the projects in and around Dade County Florida have become prime sellers in this foreclosure market. This is due to the fact that the banks have slashed the prices of the property to the bone in order to facilitate a quick turn around sale trend on the units. Most lenders think that the prices are going to fall even farther on these condo style dwellings and as a result financing is hard to get and the sales that are happening are of the cash and carry variety but even given that stipulation, they have been brisk indeed. The folks that control most of these units are the banks and at the moment the banks are highly motivated to unload these units before another price drop. Foreclosures and short sales in this market accounted for 60 percent of the sales. This is an article that should be reviewed if you are at all interested in the market in this area. The article can be accessed here:

Here’s another one of those make you think stories that most people would not have even given a second thought unless they read it first. Foreclosures buyers need to beware of a certain type of unwanted pest. The mosquito. The vacant property is a perfect place for the insect to breed due to standing water and anything with any type of swimming pool can be an excellent breeding location for them. So if you are in the market you might want to consider having these pests looked at while readying the location to be inhabited by humans. The story is located here:

According to the Associated Press, the federal government is trying to make the best of the situation by alluding to the fact that foreclosed homes, in the event of catastrophes such as another hurricane like Katrina, could actually provide temporary shelter for evacuees from that storm. The story goes on to indicate that the Federal Emergency Management Agency, also known as FEMA thinks it would be a perfect solution to the problem should it arise. There are so many homes in the state of foreclosure here that they could literally house thousands of families and keep them safe in the even of a major hurricane or other such disaster. In April there were 278,287 homes in the state of Florida in some form of foreclosure proceeding. The somewhat lengthy article can be found and read here:

This is nice and uplifting. The Habitat for Humanity has begun flipping foreclosed houses in Menlo Park to be used to help the homeless and lower income people of the area. It is a short but uplifting article that may be found here:

Victoria Gotti, daughter of mafia crime boss John Gotti is close to striking a deal to save her Long Island home from the foreclosure arena. Last month the bank got the clearance to foreclose on the $700,000 outstanding loan. Since then Gotti has had her lawyers working round the clock to try and salvage the home. They are reportedly close to ironing out the details that will allow that to happen. If you are interested in reviewing the details the article along with supporting photos and related links can be found at Long Islands Newsday online here:

Foreclosure Recap – Week #21

Kevin Simpson — Fri, 29 May 2009 16:09:05 +0000

From the Bank rate website is an article which tells you the twelve biggest and best tips for buying a house that is on auction. There are several styles of auction including the Trustee or Courthouse auction to the regional public auctions and this article gives people the best ideas on how to make sure that you are not biting off more than you can chew. Some auctions actually require you to settle old debts from the people that are being foreclosed on, things like tax or IRS liens. This article is full of information that is a must read if you are even contemplating attending an auction for some property.

A paper in San Diego tells of a drop in mortgage defaults there last month and tells how some people are getting some welcome relief in the form of lender loan modifications. One family had their mortgage dropped from $2900 to $339 and the interest rate was adjusted from 6.25 to 3.00. These are fixed and will stay in place for five years at which time the rate will go up to a maximum of five per cent. The bad part is that there is a huge balloon payment of over $340,000 due at the end of the forty-year loan or when the property is refinanced. The good news is that the people can stay in their home.

The Nurido website had an interesting article on how to avoid foreclosure with a chapter seven or chapter thirteen bankruptcy. It details how you can file and stop foreclosure and even roll the other debt that you have accumulated into the overall scheme of things to allow you to salvage your home and most of the other things you own. While this option is not the best route for everyone, it should be read so that you have a brief overview of the options so that in the event that there is a time you need it, the knowledge is there. It details what you need to know and let’s you know what you are likely to keep and what the options are. Well worth a read through.

In these times one thing that you might not think of is your local mall having financial issues. But this article details how one company filed for bankruptcy protection last month and in doing so, pulled 166 of the mall properties that it owned into the proceeding with it. Many of these malls are or were doing fine even given the state of the economy but since they were listed in the paperwork they are considered a part of the actual petition. It is leading many to wonder what far reaching effects this might have on the retail industry where people thought that individual properties would be spared.

This article is quite interesting and it goes through one reason that we got caught up in the foreclosure issues we are in now and points the finger directly at one politician from Rhode Island who actually authored two obscure but significant bills all the way back in 1980 that eventually led to the sub prime lending that dug the financial hole that the country is now mired in. These bills, The Depository Institutions Deregulation and Monetary Control Act of 1980 and the Alternative Mortgage Transaction Parity Act passed in 1982. For anyone facing foreclosure or just interested in a theory or explanation of how we got here, this is required reading.

This is a little on the opposite side of the coin. It is how you can benefit by adopting a pet that may have been displaced sue to a family losing a home to foreclosure. It seems that they are of the opinion that by adding that puppy into your home and making it a part of your life you will become more active by playing with it and taking it for walks and besides the obvious well being and peace of mind, you will actually lose weight by being more active and you will be helping an animal in need at the same time.

This is a bit of bad news, it seems that the folks at the property wire are quite concerned that we are about to have another spike in home foreclosures due to the job loss and unemployment that is happening today. With all the companies having financial issues, layoff and people losing jobs they expect that the foreclosure rates are about to ripple out from Middle America and cause the actual numbers to skyrocket.

MSNBC ran a piece that warned of foreclosure consultants that are fraudulent and are set to prey on unsuspecting people that are caught up in the foreclosure mire. The article tells you how you can recognize a good and honest consultant from one of the many blood suckers out there looking to make quick cash forma nation of people that are desperately grasping for any rope that they can find to help pull them out of the financial hole they are in and to save the family home that they love and hold near.

This is a decent little article that tells you all about mortgage loan modifications and how to debunk the myths so that you can totally understand the pros and the cons of having the mortgage that you currently hold modified to something that you can hopefully deal with while avoiding the misconceptions that often accompany the ideas. This is an article that should be read by anyone that holds a mortgage. The ideas and facts in it might prove more than just mildly helpful to you in the future.

A company in Atlanta, Georgia named Ransom Enterprizes tells us that the best way to stay off a foreclosure is for you, as a homeowner to actually fight the bank for a better deal and to do so long before you actually are in danger of falling into foreclosure. This is because it may be difficult at best to get them to even identify the property as one that they own in time enough to stop you from losing it, much less to modify any of the terms. The people here have been doing this kind of thing for over 11 years in the Atlanta market and the article has some needed information for you.

Mediation is becoming a common method of trying to stop foreclosures. More and more these days lenders and the borrowers are attempting to work out the issues over a mediation meeting as opposed to a foreclosure meeting. The hope is that things can be ironed out so both parties win.