We Tell it Like It Is

I admit that I can sometimes be quick to judge (I am human afterall) and I'm working on trying not to do that. There are times when God helps me along in that process, most recently, this past Tuesday. As discussed in previous blogs, the real estate world is filled with foreclosures and pre-foreclosures/short sales right now. I find myself shaking my head at the "fools that buy a home that they had no business buying and now find themselves in financial ruins because they can't manage". Well, shame on me. I was taught a lesson that had me nearly in tears in my car driving home this week and realized that I was the fool.

My buyers and I met Michael on Tuesday. Michael has until this Fall to sell his home before its foreclosed on and my buyers and I made an appointment to look at it. As previously discussed, most often, sellers are not present during showings of the home; and when they are, its a bit uncomfortable. However, from the moment Michael answered the door, we felt welcome and comfortable and he left us alone while we looked; his 4 innocent, wide-eyed children peering out at us with smiles from behind a bedroom door as we toured the home. As we completed our showing, we had a chance to talk with Michael who smiled innocently like his children and candidly spoke about his unfortunate situation. He is from West Africa and he came to the US 3 years ago seeking "The American Dream", as he put it. He said that people from his country work for years to save money to come here and are willing to drop everything and leave it all behind to live in the US. He dreamed of owning his own home to raise his family in and that dream came true a year after he arrived. With a language and cultural barrier to work around, Michael put all of his trust in the people that helped him through the purchase, assuming they were looking out for his best interest. Time passed, and his 4 children got settled in a school a few blocks away and started making friends in the neighborhood, to the delight of their father. It was everything he had dreamed of until he began to see a fluctuation in his mortgage payments...sometimes far exceeding the original amount he was paying and what he could afford. Soon, the monthly fees held steady at a high amount and he could not afford to pay it in full. He called the bank inquiring about the fluctuation and pleaded with them to work something out that he could manage. The bank showed no mercy and eventually threatened to foreclose. He realized he did not fully understand what he had gotten himself into 2 yrs ago and the people that helped him before where nowhere to be found. As I frowned at his heartbreaking story, he light-heartedly reprimanded me, saying he is grateful for having lived his dream even for a short time and there's no reason to be sad or angry. He plans to rent a 3 bedrm apartment when they lose the home and said he will not be buying again for a long time. When asked what his children think of the whole situation, he said they don't understand what is happening; they are excited to move into a "new home" and he said (in so many words) that in this situation, ignorance is bliss.