By Gerri Elder
The collapse of the housing market coupled with the reset of adjustable rate mortgages has caused a foreclosure epidemic that stretches from coast to coast, with no areas unscathed.
Hundreds of thousands of people have been forced out of their homes, leaving abandoned properties behind that can't be readily sold because of the poor economy and tightened credit markets.
Congress is making legislative efforts in an attempt to assist distressed homeowners, but for many the new laws will come too late to be of any help. Property values have already sunk to the point that many people owe more on their homes than they are worth, forcing them into bankruptcy to avoid foreclosure.
For those in trouble who do not turn to the bankruptcy laws, foreclosure could be right around the corner.
Nationwide, entire neighborhoods have been ravaged by foreclosures, leaving empty homes sitting in disrepair.
Just when we thought it couldn't be any worse, economists now believe that the nation is in a recession and the economy could soon become a total disaster, possibly worse than the Great Depression.
The outlook is bleak for many and the financial forecast is grim. However, one real estate agent in Florida is ready to cash in on the nation's misery and heartbreak, and he is hoping that you will tune in to watch him dance on broken dreams.
Tom Bruzzesi is the star of a new reality television show titled "The Foreclosure Shoppe." The show focuses on the bottomed-out real estate market in Florida.
Since Bruzzesi isn't spending his time selling homes the traditional way these days, he's looking to make a quick and dirty buck off of the misfortune of those who have lost their homes to foreclosure.
According to a U.S. News and World Report story, Bruzzesi will have a camera crew follow him around as he bids on foreclosed properties, evicts former homeowners and tenants and reaps enormous financial rewards for his efforts. The show is basically a kick in the teeth to anyone who has ever lost their home to foreclosure and Bruzzesi is reveling in their sorrow.
The press release for the show says that Bruzzesi is nicknamed "The Maniac" by his peers and that he enjoys frustrating and annoying other people. He admits that he became a bully during childhood and hasn't changed a bit. The show is being produced by InTroubleZone Productions, the same company that produces the V8 Muscle Bikes show.
Bruzzesi has purchased over 300 foreclosed properties over the past five years and has re-sold over 90 percent of them. He has purchased 21 foreclosed homes so far this year and plans to cash in on many more before the year is through. Rising foreclosure rates are good news for this cutthroat business man.
InTroubleZone is now shopping The Foreclosure Shoppe around to major television networks in hopes that one bites because of course, the world needs another tasteless reality show.