Why the foreclosure nightmare isn’t over yet for many homeowners


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One missed mortgage payment 5 years ago sends a family into foreclosure hell

The Moodys missed a single mortgage payment in February 2009 after Paul injured his back, lost his job, and drew down his bank account faster than expected. Five years later, after wrangling with three different mortgage servicers, two foreclosure attempts, and more than a dozen different applications for loan modifications, the Moodys still haven’t come to a resolution.

“I need to move on,” says Paul Moody, 46, a land surveyor who lives in a rural stretch of Maryland’s Eastern Shore. “It’s destroyed our credit. It’s destroyed our quality of life.”

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Read the rest of this article on how the foreclosure crisis rages on with no end in sight for many homeowners — seven years after it officially started.

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