Bernanke's Childhood Home Foreclosed

Discussion in 'Current Events' started by Toro, Feb 15, 2009.

  1. Toro
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    Toro Diamond Member

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    Oh, the irony...

    Fed Chief's Boyhood Home Is Sold After Foreclosure - WSJ.com
     
  2. toomuchtime_
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    toomuchtime_ Gold Member

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    Now if information came out that Travis Jackson had sold the former owner a pick a payment ARM that ended in foreclosure, this would be a really great story.
     
  3. RodISHI
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    RodISHI Gold Member

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    1945 Bernanke's grandparent bought the land $750.00

    1949 Built a house

    1960 sold to Bernanke's parents $22,000.00

    1976 Phillip Bernanke deeded to wife Edna for $1.00

    1996 Sold to a couple from Texas $76,000.00

    2006 Texans put up for sale. Dwayne Thompson a soldier bought the house. Mortgage $123,000.00 Payments $1,088.00 a month 10.1% interest 30 year note, well above Prime.

    2007 A few months after the close of the house Ms. Rogers lost job, Thompson goes active military in order to try to keep up the payments. Stresses over trying to keep up these outrageous payments...

    2008
    In December the house sells after foreclosure/bankruptcy and the banker and his girlfriend get the house for $83,000.00.

    So it was worth $123,000.00 when the poor man was buying it, but now that a banker is buying the house it only sells for $83,000.00. Does he have an over Prime mortgage too?
     
    Last edited: Feb 15, 2009

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