70 Years Old And Just Lost Our House To Foreclosure!

I get the feeling there is a large piece of information here that’s not being given

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

Why didn’t they pay off the house in 40 years? They either had a 40+ year loan or kept refinancing and spending the money?!

A lifetime of poor money management.

How can someone possibly owe money on a house still after 40 years....

They are 70. Move into a 1 bedroom apartment and enjoy the rest of your days. No need to buy another house.

How is it possible to get foreclosed on with $245k owed, 100k in the bank, and 95k income? Her story is nonsense.

I like how Dave never took the bait on the "con artist Lawyer" thing. She kept wedging it in and he NEVER asked for more information on it. Ultimately, some lawyer is NOT the reason they are 70 years old, bringing in $95k, with $100k in savings, and lost their home after 40 years.

She’s not going to listen to him, I can hear it in her voice

Too many details are missing here. Why would they want to buy another house at this point in their lives? They should be worrying about retirement and enjoying the rest of their lives.

40 years and she only paid 100k of her house off? This makes absolutely no sense, she is definitely leaving details out and is not going to change this late in life

Did I hear this correctly...they had the house 40 YEARS and still owed $245,000?????

This doesn’t make any sense..... she had a home for 40 years.... 40 years y’all... she isn’t telling the whole truth.

Something doesn’t add up here: In the home 40 years, the house is worth $345,000, and they still owed $245,000???

"Windshield, that's where the grace is. Rear-view mirror, that's where the pain is." Excellent advice Dave. I had an extraordinarily painful experience happen to me 15 years ago. Life was wonderful, and then suddenly it wasn't. For years, all I did was fixate on my pain. It took so long to finally turn around and look forward. It's so important (vital to happiness) that we count our blessings and look forward. We can look back to learn from our mistakes...just don't do it too often or you can get stuck there. "Windshield, not rear-view mirror."

95k a year and they lost the house what could the lawyer do

What was the $100,000 in the bank doing? What was the $95,000 annual income doing? Why did they still owe anything after owning the house for 40 years? Why was foreclosure even in the equation?

seems like she wants to blame a lot of people other than herself for her issues and mistakes.

This woman sounds like a gentle narcissist. Nothing is her fault, everyone is a con artist and she had a 100k in the bank and refused to pay her bills!!!

I like that Dave just kept things simple because there’s really no reason to argue with people who are this old because they will not change