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Losing a Home, Then Losing Everything That Was Put In Storage
The foreclosure crisis is hitting yet another American locale: the self-storage center.
Nearly non-existent 35 years ago, self-storage has become ubiquitous, with 51,000 facilities nationwide. Even as the larger economy falters, the industry is flourishing. Executives say the mortgage crisis is one reason.
People generally rely on storage when they are dealing with major milestones: marriage or divorce, a relative’s death, a job transfer or, in boom times, remodeling or building new homes. Now you can add foreclosure to the list.
As they lose their homes, people are turning to these humble cinderblock and sheet-metal boxes to store their stuff. But some people cannot keep up with their storage bills any better than they could handle their mortgage payments, and storage companies are auctioning off their property for a pittance.
A cottage industry has developed to profit from these lost and abandoned items.
[Read](http://www.nytimes.com/2008/05/11/business/11storage.html?_r=1&partner=rssnyt&emc=rss&oref=slogin “Read the Article”) (New York Times)
ac is discussing.
ac on November 10, 2015 Permalink |
This is happening to my family. We lost our home in 2013 and turned to storage and they gave us a great price. We paid $4,000 for storage then we lost work and couldn’t keep up. My husband, me and 4 children have been homeless, living in our van for over two years now. The storage says we owe $10,000 to get it out and has no record of the payments we’ve made. And neither do we, they’ve been misplaced. We are helpless and about to lose all our belongings and we actually had very nice things. The photos and birth certificates, sentimental things are the worst part. And if we came up with the money, where would we put the stuff? We don’t even have a home. Its heartbreaking and the storages that do this are heartless. But at least I have my family and the love of God to see us through. Please pray for us! Blessings will come.