The word "foreclosure" is synonymous with "sadness" in my book. Whether it happened before the 2008 Global Recession crisis - or is happening now - losing your house, is losing your HOME! Psychologist Abraham Maslow's hierarchy of needs dictates a human being's basic physical requirements include the need for food, water, sleep and warmth ie shelter, your home. Due to the crunch in 2008, the situation in America has been much publicised in all forms of media genre from the web to OPRAH.
The Real Estate Bloggers site scare us with the article (referring to USA) by Tom Royce on March 14 2010:
THE FORECLOSURE TSUNAMI THAT NO ONE IS TALKING ABOUT!
About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale!
OPRAH aired a Special on foreclosure bus tours for the lucky minority investors - able to capitalise on the fortunes of others - but that's life isn't it? It saw the soul stripping heartbreak of viewers taken into one abandoned home after another with beloved toys left on bedroom floors, family photos still on the walls or displayed in cabinets, expensive flat screen tvs and computers left behind, pantries and fridges still stocked, wardrobes complete with clothing and shoes remaining behind - WHY? Families are fleeing the mortgage debt with ESSENTIALS ONLY - WHAT THEY CAN CARRY TO LIVE IN THE EVER INCREASING "TENT CITIES"!!! The employee removalists are family men too - with a difference, with a job and income - and have to harden themselves to throw EVERYTHING into the tipster bins. Indeed we asked why can't charities assist with the collection for the needy! TIME IS MONEY! They don't have the time to wait or work in with charities. It is BIG BUSINESS for the removalist companies and the schedule is excruciatingly tight - squeezing in as many houses as daylight allows in readiness for those bus tour investors!
Foreclosure Bus Tours is just one company on the band wagon assisting cashed up investors with tailored tours with a view to looking for an investment property, second home or primary residence. They'll even throw in lunch and dinner for the price of $39.95 and a fleet of professionals assisting you with a speedy purchase.
One of many real estate financial books written highlighting the goldmine in tapping into foreclosures is the book Rich Dad Poor Dad by Robert T. Kiyosaki who touched on how to increase your real estate portfolio at a prudent price by attending the courts and researching what foreclosures were listed.
I'm a fortunate 50's+ full-time employed housewife, living in Australia, with the roof over my head paid for - "the Australian dream" it is touted. What are your views?
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