A decade after the housing crisis, foreclosures still haunt homeowners

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A decade after the housing crisis, foreclosures still haunt homeowners

A decade after the housing crisis, foreclosures still haunt homeowners

Market Watch-

Maria Landi, a 75-year-old retired insurance specialist, and her husband John, had been making payments on their East Brunswick, New Jersey home for 40 years when Wells Fargo foreclosed on it in 2010.

At the time, John Landi was forced into early retirement by the financial crisis from his job as a producer at ABC DIS, +0.72%  and 20/20. The couple could no longer afford to make the monthly payments on the home where they raised five children, and were forced out in 2013 after three years of trying and failing to apply for loan modifications from Wells Fargo WFC, -0.64%

“We had countless holidays, baptisms, communions, confirmations and birthdays in that home,” Maria Landi told MarketWatch. “We had graduations, engagements, weddings and, of course, end of life moments. Our blood, sweat and tears went into this structure. Renovations, additions and many accommodating improvements were put into this, what some may call just a building.”

[MARKET WATCH]

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