It all started out with so much promise.
In about 2004 construction began on this house at 4191 Ingraham Highway in Coconut Grove, FL. It was an odd shaped lot and I wondered how they would plant a house there. But sure enough it started to go up and took shape. Then the most beautiful day of all came. The builders put up a tastefully done custom sign that said, “FUTURE HOME OF THE JONES FAMILY” and I thought it was a nice and personalized touch.
For a while after the house was done, life seemed to bustle there. Kids bikes were in the driveway, there was a basketball hoop, many balls and many other signs of a happy family in their new home. Then came the collapse.
I don’t know what the circumstances that got the house where it is today. Irresponsible lending, borrowing, loss of job, whatever.
This is one of many stories we have seen all over the nation. And no it’s not news. It still amazes me how so many things like this that started out so happy and ended so sad. For now.
~Mike
Mike LaMonica's Blog 
This home fell victim to extreme mortgage fraud. It was sold to an unqualified straw purchaser, more than one first mortgage was taken out on the property, multiple loans were taken against the property for “renovations”, and then payments were not made. This happens all over Dade county, not because of aggressive lending strategies but because of criminals stealing anything that is not nailed down. Just becasue the cash drawer was left open by agressive lenders does not give you the go ahead to steal from it. http://www.juliollanessawanted.com
Wow, thank you for the back story on this house. That makes this sad story even sadder. I sure hope your information is correct as I am running a blog, not America’s Most Wanted .
How do you know this? And thanks for your take on why this happens all over Dade County.
~Mike
Yes, sad.
And yes, definitely not over.
Hey Paul, sorry I didn’t get back sooner. Hope you’re well my friend. Stay close and thanks.
~Mike
It is sad. But it’s not the end.
Hi Steve-
It’s way sad. I don’t have too much pity for those who borrowed beyond their means even if a lender upsold them. Live below your means!!!
http://www.smartonmoney.com/personal-finance-basics-live-below-your-means/
Thanks. ~Mike
biggest credit bubble ever (global)+ most aggressive lending practices ever= MAJOR hangover—for years to come….LD
Hey Liam-
When I jotted this down, half of me thought this was old news and half of me thought this ain’t near over. I guess the second half of me was more right. Thanks for stopping in!
~Mike