Even though the stories are shocking — almost unbelievable — this is a must-read article about bank and mortgage fraud. The article documents the growing problem of ‘zombie foreclosures’, where homeowners are hauled back into court sometimes years later for their house that they handed over to the bank. This is crystal clear evidence that the current system is broken. The safest approach is to build just what you can afford with cash and avoid the whole mess.
The focus of our blog is on low cost, low tech housing solutions. But sometimes it’s good to stop and look at what’s happening in society. Even though I read about the economy every day, this article about the true rate of foreclosure is still shocking. Who wouldn’t be moved by what’s going on? Due to financial hardship, more people are investigating lower cost DIY housing alternatives such as earthbag building, straw bale construction, adobe and pole building.