Thursday, March 29, 2012

The Fleecing of America--No Magic Bullet 2

The next one to go down was a nightly rental unit we owned.  It was official foreclosed on in June 2010 but we didn’t give up possession.  Mark contended that the battle was still not over and I did continue to follow what he told me about fighting.  In October of 2010 another property we had in Nevada got foreclosed and we held our ground on possession on that one too.  Although Mark was telling me the battle wasn’t over Dennis and I were feeling very defeated.  It had taken us a year to get where we were and so far between the three properties we had lost six hundred and twenty thousand dollars of real money we had put into them.  Logically we knew the money wasn’t there anyway because value had dropped so much we couldn’t sell them and get it out but it didn’t make us feel any better to lose the property.  If the banks had worked with us we would have tried to keep them.  Our hope was fading and although Mark was still adamant we could get the properties free and clear I no longer believed him.  We still had possession but at some point we realized we would no doubt lose that too.

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