Bernanke's Childhood Home Foreclosed

[Toro]

Oh, the irony...

Travis Jackson walks through his modest ranch house, admiring the kitchen's built-in spice rack and the red-oak floors. He draws back the curtains, and sunlight illuminates the pride on his face.

The young banker just bought Federal Reserve Chairman Ben Bernanke's childhood home at a foreclosure sale.

"This is where it all happened," marvels Mr. Jackson, a 27-year-old loan officer at First Citizens Bancorp, which is down the street from the old Bernanke place. "Kind of a surreal feeling, isn't it?"

Mr. Bernanke's family sold the property more than a decade ago. It ended up on the block late last year after its former owners fell behind on their mortgage payments.

Fed Chief's Boyhood Home Is Sold After Foreclosure - WSJ.com

 

[toomuchtime_]

Oh, the irony...

Travis Jackson walks through his modest ranch house, admiring the kitchen's built-in spice rack and the red-oak floors. He draws back the curtains, and sunlight illuminates the pride on his face.

The young banker just bought Federal Reserve Chairman Ben Bernanke's childhood home at a foreclosure sale.

"This is where it all happened," marvels Mr. Jackson, a 27-year-old loan officer at First Citizens Bancorp, which is down the street from the old Bernanke place. "Kind of a surreal feeling, isn't it?"

Mr. Bernanke's family sold the property more than a decade ago. It ended up on the block late last year after its former owners fell behind on their mortgage payments.

Fed Chief's Boyhood Home Is Sold After Foreclosure - WSJ.com

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.

 

[RodISHI]

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?