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Eight million people are at risk of losing their homes because Wall Street abandoned responsible lending practices to gain short-term profits. The housing crisis is not just a problem for families facing foreclosure - it's a problem for every homeowner in America. As long as foreclosures persist, home values will keep going down, and everyone loses.

We need your help. Have you been affected by the housing meltdown? Foreclosed on? Underwater? Record your story, or the story of a friend, family member, or neighbor, and send it to us. You can also add your written story along with a photo for the map. Then, watch the video stories of the families, mothers, fathers, and children who have lost, or are losing the place they call home.

David from South Carolina

Published
by
admin
on March 12, 2009
in Stories
.

My name is David, and I’m from South Carolina. My grandfather built this house in 1933 and it’s been in my family now for 5 generations. My mother was born in this house, and she’s recently moved back in so that we can take care of her. My eldest daughter moved in with her newborn son and they lived here as well, until he sadly passed away when he was two years old.

I remember coming home from work to play with him. I remember growing up, churning ice cream on the front porch and playing baseball in the front yard, playing football in the back yard. I made a big mistake in 1989 when I got out of the US Army. I took a mortgage out on the house to build extra closet space, enlarge the den and the kitchen and add another bathroom. The original loan was for $35,000 dollars. I’ve paid the loan for 20 years now and my balance is still $27,000. I recently lost my job in January and have stopped making payments. The bank is threatening to foreclose my home next Thursday. I can’t stand to be tossed out on the street - me, my Mom, and my daughter.

I tried to talk to the bank through the Veteran’s administration to tell them that I had come up with the money to remain current on the loan and continue making payments, but they didn’t respond. Instead, they keep sending threatening letters addressed to “Occupant.” There are so many memories in this house that I just can’t stand it. My grandparents died here, my Mom was born here, my late grandson Jacob played here. I can’t sleep at night thinking about the future. If I could just get them to accept my payments, I promise I will never borrow money ever again. That was my mistake, borrowing money from this bank.

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