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Artwork for Solving America's Problems
Solving America's Problems · Yesterday · 16 min

Foreclosures Are Back, and Most Owners Have No Equity Left

People who bought in 2019 and 2020 are now in foreclosure with almost no equity, and many walk away with $5,000 to $20,000 at most. Ben Allgeyer explains the difference between a foreclosure and a short sale, including one he's negotiating with a $230,000 payoff on a house worth about $130,000. He says one lender's fees added about $60,000 in a year and a half on a $180,000 house. Jerremy Alexander Newsome and Dave Conley ask what stops a $200,000 starter home in Kansas City, and he points to land costs and county rules that counties have no reason to fix. His advice if you're facing foreclosure: stop hiding and ask for help while you still have options. Timestamps: (00:00) Little equity left – Why today's foreclosure sellers walk away with almost nothing (01:48) Foreclosure vs. short sale – A $230,000 payoff on a $130,000 house (03:19) The $200,000 starter home – What stops builders in Kansas City (06:42) Missouri's new wholesaling law – A 14-day wait before any offer (08:03) $60,000 in fees – Eighteen months of lender penalties on one house (09:00) Facing foreclosure Monday? – Pull your head out of the sand (13:49) Where affordable housing went – County rules stalled his building plans (15:39) "They don't care" – Why counties don't push affordable housing Connect: Ben Allgeyer – Website | Instagram | YouTube 🌍 Connect with us: Instagram | YouTube | X | Web

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People who bought in 2019 and 2020 are now in foreclosure with almost no equity, and many walk away with $5,000 to $20,000 at most. Ben Allgeyer explains the difference between a foreclosure and a short sale, including one he's negotiating with a $230,000 payoff on a house worth about $130,000. He says one lender's fees added about $60,000 in a year and a half on a $180,000 house. Jerremy Alexander Newsome and Dave Conley ask what stops a $200,000 starter home in Kansas City, and he points to land costs and county rules that counties have no reason to fix. His advice if you're facing foreclosure: stop hiding and ask for help while you still have options.

Timestamps:

  • (00:00) Little equity left – Why today's foreclosure sellers walk away with almost nothing
  • (01:48) Foreclosure vs. short sale – A $230,000 payoff on a $130,000 house
  • (03:19) The $200,000 starter home – What stops builders in Kansas City
  • (06:42) Missouri's new wholesaling law – A 14-day wait before any offer
  • (08:03) $60,000 in fees – Eighteen months of lender penalties on one house
  • (09:00) Facing foreclosure Monday? – Pull your head out of the sand
  • (13:49) Where affordable housing went – County rules stalled his building plans
  • (15:39) "They don't care" – Why counties don't push affordable housing

Connect:


🌍 Connect with us: Instagram | YouTube | X | Web

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