Three neighbors in my sub have gone into foreclosure. I am only close to one of them, but I feel for all three. Some neighbors have made derogatory comments about all three and I have just been in tears for each family. They all are in their mid 30s to early 40s with 2 or 3 kids. I can't imagine the impact the foreclosures are having on the kids or their marriage. Why would people make sarcastic remarks? What happened to love your neighbor as yourself? I don't understand how people you live around everyday can be so callous?

I don't understand callousness either. There may be nothing you can do to help, but it's great that you feel for them and at least you aren't putting them down. Those families need all the support and sympathy they can get-- not criticism or meanness. Good for you for thinking compassionately.

adonisthegreek1 I feel for you. We only have 5 families down our road and 2 have filed for bankruptcy and left their houses . One was very good friends of ours the other one was a single man who just couldn't make the mortgage. I feel sorry for all of them. They say that last year 400,000 people went into foreclosure because of these ridiculus interest rates....Thank GOODNESS we have a fixed rate . But it doesn't keep me from worrying about everybody else. Why didn't people realize that when the interest rates went sky high so would their house payments.

And about people being so callous......They are just there...apparently unhappy about something in their own life that causes them to be crude and nasty.

actually its because they all have gotten arm loans, its sounds good to start with but then at the end of the term, people are stuck with an 11% interest rate. we have a new housing addition, and about half of the houses are up for sale because they did that type of loan. its as bad as having a unfixed rate. my kids are only 16 and 13 but i have already told them, no matter how bad you want that house your looking at. if they can't give you a fixed rate, then don't do it. its not worth it.

About 25 years ago this same thing happened in our city.The oil industry went bust and thousands of people were selling their homes for a dollar and splitting because the interest rates shot up and they couldn't pay their mortgages.Some even abandoned the houses.It was really bad for the economy here and took many years to recover.I would never ridicule anyone who loses their home it is very sad and stressful not to mention embarrassing.I feel for your neighbors also.....people have become so unfeeling and judgemental....hopefully the economy will get better soon!!

That's very rude, callous and insensitive to make comments about someone losing their home. You never know if life will throw you a curve ball and you might find yourself in that same situation (unless you are rich and independently wealthy and that is still not a guarantee).

Many people are getting burned by an ARM - it was the only way they could afford a house note at the time and they just took a gamble that it wouldn't increase that much. I work for a Chapter 13 bankruptcy trustee and see first hand how these payments have gone up and up and people no longer can afford the payment - it's a very sad situation.

I can imagine that losing your home is probably one of the most devasting things that can happen to a person. Some people in our neighborhood would like to think they are well-to-do, during their Wednesday Ladies Tea which I am not invited to, they sit around and gossip about things such as this or who's husband is an alcoholic or who's having an extramarital affair. I am a firm believer in what goes around comes around! I refuse to be insensitive, it's ruing us! Great to see you have a heart!

Elle

It's sad how so many people are so rude and insensitive. I believe that many people like this (my mother is one of them) have extremely low self esteem and only feel good about themselves when they can put others down. What's really a shame is that this behavior is becoming the norm in society.

I feel for your neighbors. My husband lost his job in February and just got back to work this past week. As a stay at home mom, that means we lost our income. We were able to get unemployment, but that's not much! Trust me, the fear of losing everything was hanging over our heads. I don't think people realize how close we all are to losing everything. We were paying our bills, putting money in our savings, etc...but lose your job and not find something for 6 months..your savings doesn't last forever! It's unfortunate people don't have compassion for their neighbors. I don't understand it. Instead of having compassion and trying to make a difference, they chose to step on people who are already down?! Very sad. Jodie

The ARM foreclosures are becoming an epidemic and affecting the housing market and financial markets. It's no laughing matter, and especially not something to ridicule and demean people about.

Shelbur10 - I love your signature and try to repeat it to myself every day, and it ESPECIALLY applies in this situation:

"Be kinder than necessary, for everyone you meet is fighting some kind of battle."