Would you buy a foreclosure that belongs to someone you know

amother

OP ↓

Yesterday at 5:46 am

I see a house going to auction very soon. I know the people pretty well and honestly shocked it is going to Auction. They have a lot of family in the neighborhood which makes it more surprising to me.

I feel bad to bid.
On the other hand it's a once in a lifetime opportunity to live in that area which has gone up so much in price. Finding anything in that location is hard now.

It's tempting.
Yet id feel horrible knowing I 'took' their house.

On the other hand, once on auction, someone will put a bid. And it might be non jews.

I wish they could be helped. I don't know the situation.

So hard. For them. And for deciding what is right.

Any insight to offer?

amother

Razzmatazz ↓

Yesterday at 6:47 am

Op pls get the community together and buy the house for them or you buy it and charge them low rent. Do the right thing. It may be difficult and complicated get people to help or start a go fund me. Put yourself in their shoes what would you do? Chanukah is a time of miracles do some hishtadlus and the one above will do the rest. Buy off their mortgage and give them the deed and title.

Raizle ↓

Yesterday at 6:50 am

amother Razzmatazz wrote:

What makes you think she has the money?

amother

↑ OP ↓

Yesterday at 7:29 am

amother Razzmatazz wrote:

Take your post down. Rude.

You don't know everything.
You know what I sent to the Zillow agent?
What can be done to help and if there's any way auctions can be put off.

You don't know the plan even if an offer would go on house.
Very likely would be to buy to help them. Yet at the same time we have no idea the story. If someone would rent to them and they can't pay, big issue too.
If non jews buy it, forget everything

So yes, while there is interest to bid, it's not straight cut. If a [gentile] bids and wins, doesn't help anyone.

If we do and win, even if it's to help Ave they live there, it's still not their house anymore and could still be a mess

amother

Oleander

Yesterday at 7:38 am

Yes, I would bid. After I own the house, I would evaluate my options. There's doing the right thing (whatever that means and that's entirely subjective) and there's doing what's best for you. You are correct - a [gentile] or another yid may buy and evict the current owners in a heartbeat. If it's going to auction, there is a reason for it. Once you own it, see what you can learn about the family and their finances. If they can pay market rent and it will cover your mortgage, you have what to consider. If they can't and its a nebach situation, I think you might just be prolonging the inevitable.

amother

↑ OP ↓

Yesterday at 7:48 am

amother Oleander wrote:

This is what I was thinking.
Still not completely sure.
Hard to live with that yet a [gentile] taking it isn't a good solution either

amother

Carnation ↓

Yesterday at 7:50 am

My relative buys houses at foreclosure auctions and resells them for parnassah.
He will not buy a house that is owned by a yid without speaking to them first. He usually calls them to find out what the situation is. Often they know about it and planned on bidding for their own house (and it would be terrible if a yid would bid against them). Sometimes they didn’t even know anything and sometimes they already worked it out with the bank and it’s a mistake that the house is on the list and it really shouldn’t have gone to the auction.
Sometimes he even helps people get their houses back and they give him money to bid for them.
So it’s complicated to buy someone’s house whom you know and I would tell you to stay far away.
Houses where the owner died and there are no next of kin or something very similar is what seems to be the safest bid.
I know from my relative that there hasn’t been much to bid on lately.

ShishKabob

Yesterday at 7:54 am

amother Carnation wrote:

This exactly. Op, tread carefully, bhatzlocha

amother

↑ Razzmatazz

Yesterday at 8:10 am

amother Razzmatazz wrote:

I am the one that posted this why am I rude for suggesting that people and yourself help the family out? aren't we here on earth to help others? unless I am mistaken . . ...

amother

Steel

Yesterday at 8:12 am

amother Razzmatazz wrote:

I am the one that posted this why am I rude for suggesting that people and yourself help the family out? aren't we here on earth to help others? unless I am mistaken . . ...

Because you’re spending someone else’s money. OP doesn’t sound like she has the money to spare on buying someone else a house when she can’t afford he’r own

amother

NeonOrange ↓

Yesterday at 8:17 am

amother Razzmatazz wrote:

I am the one that posted this why am I rude for suggesting that people and yourself help the family out? aren't we here on earth to help others? unless I am mistaken . . ...

Your idea is very noble and it would be a very thoughtful and generous gesture. But what makes you think OP can afford to buy a house for someone else to live in?
Perhaps she lives with her 6 kids in a one bedroom apt and has been saving up for 20 years to move into bigger quarters.
Even when we want to help others, it's not always possible.

amother

Hydrangea ↓

Yesterday at 8:19 am

amother Razzmatazz wrote:

I am the one that posted this why am I rude for suggesting that people and yourself help the family out? aren't we here on earth to help others? unless I am mistaken . . ...

It's so delusional to tell OP to buy the house and rent it to them, when she clearly said that she can't afford to buy a house for herself, and that's why the foreclosure tempts her.