Foreclosure Problems? Mother Commits Suicide In Massachusetts
August 1st, 2008
Carlene Balderrama, a mother in the state of Massachusetts, was completely in despair over the impendent foreclosure on her home. Her family’s terrible finances were of no help to her and she found that the only way in which she could save herself would be to commit suicide.
The Boston Herald stated that the 53-old mother could not pay the mortgage in 42 months on the 3-bedroom home, which she occupied with her husband. John Balderrama, her husband said he had no clue whatsoever about the real situation. He informed The Associated Press that his wife had been carrying out the real estate dealing with PHH Mortgage Corp, a mortgage company, without his knowledge. She had been picking letters from company and tearing them to pieces.
According to the police, investigation reveals that that her shooting and all the evidence indicate that she took her life and it was not a case of murder. Taunton Police Chief Raymond O’Berg informed the Boston Herald, “We’re still investigating, but it definitely appears to be a suicide.” The Bristol County District Attorney’s Office too agrees to this statement. Gregg Miliote said, “We might look at finances if we thought there was foul play, but all signs point to it being a suicide,” and further added “We’ll see where the investigation takes us.”
The mortgage company received a faxed letter from Balderrama at roughly 2:30 PM on Tuesday, putting a warning that she will no longer be alive when they foreclosed on her home that day. She was true to her words. It seemed that Balderrama shot herself with her husband’s powerful rifle. Her dead body was discovered at 3:30 PM after PHH Mortgage informed the police. The home in Taunton is about 35 miles to the south of Boston and costs $232,000, a large figure in the real estate market. It was supposed to be auctioned away at 5PM on the day the mother committed suicide failing to overcome a foreclosure crisis.
This mother has a 24-year-old son and she also left a suicide note for her family that was found beside her body. In that she wrote, “Take the insurance money and pay for the house.” The Herald says that it is not very clear if John Balderrama, who makes a living by plumbing, will be successful in collecting money on his late wife’s life insurance policy. Mr. Balderrama told the Herald, “She put in her suicide note that it got overwhelming for her.”
In the real estate world, foreclosures are on the rise and pose a threat to many lives as plenty of people fail to pay their mortgages in time.
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November 30th, 2008 at 11:20 pm
I to have considered the same thing thinking my life insurance would save my family. The banks will not help and threats of law suits piling up. If it were not for a talk with a Bankruptcy Attorney I would have killed myself for my family. Hopefully it will all work out as promissed. I invested in properties for my retirement, when I was ready to sale the market started taking a dump. The homes were empty and I had 6 mo. Rent in each to keep afloat until sold. I couldn’t lower the price fast enough then the banks wouldn’t give out loans so I had to give them to the banks. I lost all my retirement I owned these homes for 8 & 14 years, I had over $200,000 in equity and now I have nothing. I was fine with that, I’m strong, but when the banks started to tell me they were suing me and were going to put leans on me and I would have to pay capital gains on my loss that’s when I lost it. I had it all planed. I had to time it right and do it before the law suits so my family could collect the insurance. Then I talked to a Bankruptcy Attorney and He said I was going to be fine. All I can do is hope he’s right. I feel fine now but I know if this doesn’t work out I’ll be right back where I was before talking to him.