Our youngest daughter just became a statistic of the times

[Omaha Steve]

Because of her divorce, she just had her home foreclosed on. We sold her the house 2 years ago. It has been in the family 35 years.

[Liberal_in_LA]

1. oh no! Anyway you get get it back at a low price?

[Omaha Steve]

3. Remains to be seen

She will be moving out over the next couple months.

[Motown_Johnny]

2. sounds like what my brother is going through.

Our parents bought the house in '64 and now he may lose it.

[Liberal_in_LA]

4. sad... :-(

[darkstar3]

6. I'm confused.

If your parents bought the house in '64, wouldn't it have been paid off well before now?

[EFerrari]

8. Since wages haven't kept up with cost of living for 40 years

people have been refinancing their homes just to stay even.

[PassingFair]

13. My mom just sold our family house in Detroit.

She got $18,000 for it and felt lucky.

My parents bought it in 71 for $21,000,
and my brother lived in it until '07,
when he moved to Mt. Clemens.

If he had moved out 5 years sooner, my
Mom could have sold the place for $100,000.

[Froward69]

5. Damn that sucks.

Have you spent the money from the sale?
if not use it to settle the principal. Keep her in the house and do a Mortgage note between you and her.

In our family we sell each other property within the family. that is I bought "my" house from my father and he carried the "note". When I got divorced and couldn't make payments. I was never Foreclosed upon as He let me slide a bit till I could get the proper payment to him. (no bank ever involved and my credit rating never got a negative hit.)
once he passed away the "note" cleared as the deed was He and I in Joint tenancy.

[blueknight]

7. i hate to hear that steve,

hopefully things will work out for you guys

[Omaha Steve]

9. We did that with her for 11 years before she bought it

At the time we thought they would have no trouble keeping it etc. We gifted them $10,000 for the down payment. Her soon to be X is a real piece of crap. She put him through college. He got a masters. Now he makes $10 hr as a teaching assistant. Lives with his parents. His is a dysfunctional family to say the least. He got nice check from his grandfathers estate. He won't use it to help them. He got a free lawyer, so she couldn't. Doesn't care about his son and how this effects him too.

[BlueKitteh]

10. Your family isn't alone

Try taking care of triplets whom are the product of 2 dumbells:( and one parent grew up with me the other is blood.
Some folks only love their reflection.

[MIprogressive1]

11. sad times we live in..

[applegrove]

12. very sorry.

[roguevalley]

14. I'm very sorry, OmahaSteve. Divorce shoves you into poverty

just about as fast and republican policies. Hugs to all of you.

[Odin2005]

15. I'm sorry!

:(