My Letter To David Horowitz Published On Fightback.com

The Reality of The Housing Crisis: Real People, Real Victims

October 15, 2010

I received the following letter from a woman with no other options in regards to managing and/or selling her properties. I find it worthwhile to show my Fight Back! Readers the sad realities of what happens when things do not go as we wish they would:

Thank you for your offer of help. Unfortunately it may be too late. Its now being offered as a short sale. We got a really bad deal when we bought. First there was a bait and switch, then we were talked into more than we wanted to spend, then they gave us an interest only loan with no need to verify income. We would not have qualified otherwise. Then in 5 years it would go to a variable rate. We felt Ok about this because we owned some property, and were receiving rental income. We’re co-owner in a multi million dollar warehouse and it was for sale. The market immediately went bad, lost the tenents, lost the buyers. We then couldnt pay mortgage as Michael lost his job and Im disabled. Now the bank is trying to attach the warehouse in the future when it sells. So we will not only lose our house, but also the warehouse sale money and have no house to show for it. Our house is worth half of what we paid for it, what we wanted to pay in the beginning. The people buying it will get it for half. We put at least $100,000 into it and have no equity. They pretended they were going to work with us on the Obama plan and then changed their minds after frustrating delays that you would not believe. Ive been to the point of feeling suicidal. Im 57 and it was my very first house in my whole life. Its all I ever wanted all my life and now it looks like our financial future is ruined with no chance of ever buying another home. There is actually even more to this story, but I wont bore you. Ive been praying for an angel to help. Ive even thought I would like to try to sue but others say just let it go. Im so upset, I cant let it go. If theres anything you think you could help us with at this late date please let me know. I believe in miracles.

Thank you,

“Ellen”

David Horowitz printed my letter to him because it represents the nightmare so many Americans are going through right now with no recourse. You can read it on Fightback.com and leave a comment if you wish.