When Edna and her mother Louise bought their California home in the early 1920s, it was a newer home, which they were the second owners. It was not a foreclosure, but the first owner did leave much of the items they didn't want in the house Edna bought, and the household items became Edna's and Louise's property, which Edna and Louise reused.
In the foreclosure mess of today, banks have the properties totally cleared out in these housing developments that have sprung up across the nation in the last eight years.
People thought they were buying the American Dream, in these brand new neighborhoods, but more like a nightmare (as people wanted more than they can afford and developers and lenders doing anything to make it happen). In many cases, properties were built on easy credit from developers, bought by easy credit by owners, and filled with stuff by easy credit by owners.
This report called Foreclosure Alley, shows what is going on behind the scenes, in just one neighborhood of tens of thousands of neighborhoods, across the country.
The sheer waste and debt created by all sides is staggering. Items in these homes shown in this report, is highly likely still unpaid stuff on home mortgages or credit card bills, like the unaffordable houses people left. more>