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Foreclose? Over my dead body!User Forum Topic
Submitted by nostradamus on July 23, 2008 - 6:26pm
Does the family get insurance if she commits suicide? Or is this another of her "financial miscalculations?" TAUNTON, Mass., July 23, 2008 Woman Chooses Death Over Foreclosure http://www.cbsnews.com/stories/2008/07/2... A 53-year-old wife and mother fatally shot herself shortly after faxing a letter to her mortgage company saying that by the time they foreclosed on her house that day, she would be dead. Police said that Carlene Balderrama used her husband's high-powered rifle to kill herself Tuesday afternoon, shortly after faxing the letter at 2:30 p.m. The mortgage company called police, who found Balderrama's body at 3:30 p.m. The auction was scheduled to start at 5 p.m. and interested buyers arrived at the property in Taunton, about 35 miles south of Boston, while Balderrama's body was still inside, according to Taunton police chief Raymond O'Berg. Police did not immediately release the name of the mortgage company. O'Berg said Balderrama's fax read, in part, "By the time you foreclose on my house I'll be dead." O'Berg also said a suicide note found next to Balderrama told her husband, John, and 24-year-old son to "take the (life) insurance money and pay for the house." Joe Whitney, who works with Balderrama's husband, a plumber, said that Balderrama handled the bills and her husband didn't know about the foreclosure. "John didn't even know about it, that's the surprise," Whitney told The Boston Globe. "It's just one of those awful, awful tragic events."
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gosh, I didn't know life is so cheap these days! What is this world coming to!
I know that I have a different view being in the industry. However, I find it almost inconceivable that someone would kill themselves over what is essentially a repossession and eviction. It would have been a hard conversation but jesus.
I'm sure she had major issues and this is just one of many. Or perhaps it shows how strong the misconception is that simply living in a house and making payments makes it "your" house and this is all a huge injustice.
Wow, that is so sad and completely unnecessary. For people who have worked with individuals that have attempted suicide at times the suicidal behavior is that person's way of declaring the biggest "f%$k-you" that they can. With such a passive-aggressive letter to the bank it sure sounds as if there was at least a piece of "f-you" directed at the bank amid her despair. Very, very sad.
That article was straight from the press release, I'm willing to bet there is more to the story. A quick search revealed one that is a little more in depth.
http://www.sun-sentinel.com/news/custom/...
Turns out she hadn't paid the mortgage in 42 months, and intercepted/shredded all the notices from the bank, the husband never knew. So where did 42 mortgage payments go? We can speculate but in a few days the rest may come out or it may never be revealed to the public because we don't need to know. It made news because of the timing and because it is being blamed on foreclosure, I'm guessing that there was another underlying reason that could no longer be concealed.
That's true tg. Until the whole story comes out all we can do is speculate.
The most amazing part of the story to me was she faxed the lender and they responded promptly by calling the authorities. In all my dealings with the lenders lately, you fax them, they scan it in and get back to you in 24 to 48 hours.
I think I have just found a new strategy for negotiating short sales!
sd, now that is funny! A little sick, but funny.
side question sd, what is the timeline today for shorts, not the extremes but the average these days. I used to avoid them but found one I like and I have time and flexibility in my rental, are we talking 2 months from offer to close? 3? 4? And can I back out if they take too long and the value drops before they answer?
I think I have just found a new strategy for negotiating short sales!
Oh, crap that's funny !
Um. And wrong.
I thought long and hard before posting that but figured enough of you have been around long enough to appreciate my sometimes sick sense of humor.
tg,
It all depends on the lender(s) and the listing agent. Best case scenario is probably 21 to 30 days after the first offer is submitted on a listing. I've had some carry on for several months. If you find one you like, submit an offer with the Short Sale Addendum attached. You really have no risk at all. You have no responsibility to do anything (including providing a deposit check) until a written acceptance from the lenders for your offer is in hand. Until then you are free to continue shopping or drinking heavily.
When the offer is approved by the lender in writing, it becomes a normal escorw and you still have your typical 17 day contingency period to back out for any reason or even no reason.
sdr
I think I have just found a new strategy for negotiating short sales!
sdr, that was the funniest thing I have heard you say since I started posting on here.
sd, thanks, for the joke of the week and the advice on short sales, I wont avoid them any more.
DW
I used to be much funnier tormenting oldwhatshername when she was still around.
sdr
There should be some kind of special sardonic award for that kind of post. I think I kind of miss oldwhatshername. Piggington's is kind of tame without her. Maybe she will be released on parole by Rich.
Seriously I am wiping off the screen. Just go look at the thread on short sales and how sloooowww the most basic response is, and you have to chuckle at sd's post.