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Just wanted to let you know I am sorry what is happening to you. It's great you are working the phones to try and find a solution. My husband and I have had to get very creative over the last ten years being in the real estate business, but it can be done!
I am so sorry that you are in that position. I could suggest a few things that would really help you out.
You may want to consider taking in a roommate. I would think you could pull in an extra 500-600 a month a room (if I had to I would sleep on the couch to make extra money if I was in that desperate a situation. After all loosing your home ruins your credit.) You could also sell merchandise on Ebay in the comfort of your own home. I also have a dog sitting service in my house where I take small dogs in while people go on vacation. I remember during the summer months pulling in an extra $1,000. I know of a retired principal that is selling about $5,000 a month on Ebay, and I do quite well myself. It's really not hard too do. If you have time to sit at home and type on the internet it really will not be hard to sell on Ebay.
I remember when I had a pulled muscle and couldn't work at my old job for about three weeks (but I needed the money). I just used a cane and took pictures to sell items on Ebay. I made hundreds of dollars even while I could barely walk. It wasn't easy to take the pictures, but I had no choice. I took the pictures, and listed the items, even though I was in severe pain.
You can take other people's merchandise, sell it and keep 25-50 percent for yourself. This way you don't have to worry about coming up with any type of investment. It really does work. I have so many friends that have just quit their jobs and work at home. It's a great way to make a lot of money.
Last edited by Angelrocks; 03-17-2007 at 06:05 PM..
Hey guys sorry I took so long, I am weighing my options and I dont have many. There is still some hope from someone that wants to buy, I should know by tomorrow if he is approved through a different lender. Meanwhile, I have an appt. with an attorney tomorrow to see if I could file bankruptcy and keep my home. Problem is I have no credit card debt or anything. Im just late on my home payments because of the health issues. Because I am not currently employedd (only my husband) Im not sure if I could take out another mortgage but Im waiting on a call back. Because in December, my insurance dropped me, my mortgage lender applied forced insurrance and that premium is 15k a year, because I techniclly have insurance no other compnay will pick me up. So Im paying 1288 for mortgage and in escrow 1325 a month for homeowners insurance. This is a HUGE reason as to why Im behind and my mortgage company will not except only the mortgage payment. Citizens will only pick up your policy if you CANNOT get any other insurance and technachly I have insurance.
Wow this is a nightmare! Let me try to understand. If you own the house free and clear, you wont have to pay insurance anymore? You bought it 6 years ago for like $150k so this should really help you out. Maybe its possible to sell part of your house, share it with another family and pay off the remainder of the mortgage then cancel insurance because you own the house free and clear. Another option is to just sell it for what you paid 6 years ago and break even then you can move out of this nightmare. I know theres a way out of this without bankrupty/foreclosure. Maybe I can even help you sell the house(thru a realtor) Let me know what can be done.
confused and relocating
I don't know who your mortgage company is but if your behind call and speak to someone in the Loss -mitigation dept.
Their job is to work out arrangments to try to get you current
You want to do what you can to keep it form being assigned to an attorney this will add major fees.
I am sure your attorney will talk to you about doing a chapter 13 since you don't have any unsecured debt
Just make sure you are comfortable with what the Atty says if not get a 2nd oppinion they usually don't charge for the initial visit.
good luck let us know what happens
karla
HEllo everyone, thanks for all the input. As I said before I will be working the phones and I did. I was able to get approved insurance through citizens on a payment plan. since the forced insurance payment has already been applied for this month, I will wait till the end of the month to get it. Although just had an idea if I get it now, they probably have to retroact the fee to the date where my insurance started. I have to check on that.
I met with the attorney on Friday and it looks as if we file for chapter 13, I can save the house, still keep trying to sell it and not have to give it up dirt cheap. My payment will go up 300/month that is something we can afford. Than I could still try to sell and leave with some money to put a down payment on a home somewhere affordable. When we intially bought the home it was 169k.
I cant have another family move with us because as it is, we are tight. I have three boys 18 (tomorrow is his b-day, right now both older boys are Irish twins), 17 & 16 and my husband has an 11 yr. old that comes on weekends. So as you could see all rooms are filled. Our home is 1800 sq ft. not that big. And my American dream does not entail us sharing a home with another family. I would feel very uncomfortable and definately feel like Im in a third world country. I just feel that instead of going forward, Im moving backwards. I was born and raised in Chicago and I never felt this desperation and draining that I feel here. Life here in Miami is hard. I know my situation has changed with getting sick and all but life here is not easy.
I am trying to get all the paper work together to see the attorney again, she told me she couldnt believe we didnt have credit card debt or owe anyone else money. That most of her clients are debt over 50k .
I did try to call the lender of the house, New Century Mortgage and the only thing they would help me with is if I gave them 4k and pay off the other 4800 within three months. That we cannot afford.
The person that is interested in the house is still trying to get financing. We should know better by Wed. I have lowered the price to 290k. We owe NC 201k ( was one of the foolish ones that re-fiananced alomost two years ago and got the ARM).
I hope that you are able to get out of this mess. Also hope this is a warning to any persons with "rose colored" glasses that even a hard working family person can become mired in the Miami mess. This is why I come across as "negative", to warn the other people not to come to Miami or they too will face hardships like nowhere else. And confused, I hope that you get this resolved before a hurricane hits or the bubble bursts. By the way for those that do not know it is ILLEGAL to share a home with other families according to Miami-Dade code. So anyone renting rooms or living together in a single-family home should be careful before you call Team Metro on your neighbors.
Location: Lots of sun and palm trees with occasional hurricane :)
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Yeah, I think that anyone living in Miami should really just plan on moving to Michigan. After all, only the hard-working Miami folks are on the hit list to lose everything just because we live here.
HEllo everyone, thanks for all the input. As I said before I will be working the phones and I did. I was able to get approved insurance through citizens on a payment plan. since the forced insurance payment has already been applied for this month, I will wait till the end of the month to get it. Although just had an idea if I get it now, they probably have to retroact the fee to the date where my insurance started. I have to check on that.
I met with the attorney on Friday and it looks as if we file for chapter 13, I can save the house, still keep trying to sell it and not have to give it up dirt cheap. My payment will go up 300/month that is something we can afford. Than I could still try to sell and leave with some money to put a down payment on a home somewhere affordable. When we intially bought the home it was 169k.
I cant have another family move with us because as it is, we are tight. I have three boys 18 (tomorrow is his b-day, right now both older boys are Irish twins), 17 & 16 and my husband has an 11 yr. old that comes on weekends. So as you could see all rooms are filled. Our home is 1800 sq ft. not that big. And my American dream does not entail us sharing a home with another family. I would feel very uncomfortable and definately feel like Im in a third world country. I just feel that instead of going forward, Im moving backwards. I was born and raised in Chicago and I never felt this desperation and draining that I feel here. Life here in Miami is hard. I know my situation has changed with getting sick and all but life here is not easy.
I am trying to get all the paper work together to see the attorney again, she told me she couldnt believe we didnt have credit card debt or owe anyone else money. That most of her clients are debt over 50k .
I did try to call the lender of the house, New Century Mortgage and the only thing they would help me with is if I gave them 4k and pay off the other 4800 within three months. That we cannot afford.
The person that is interested in the house is still trying to get financing. We should know better by Wed. I have lowered the price to 290k. We owe NC 201k ( was one of the foolish ones that re-fiananced alomost two years ago and got the ARM).
I spoke with my dad and he says bankrupty will not free you from your mortgage obligations and not stop foreclosure. How much debt do you have? If your debt is small, do you really want bankrupty for that? You can only file bankrupty twice in your life and it will ruin your credit. Probably wont be able to get a mortgage again.
If you paid $169k for the house and own the bank $201k(negative amortization ) you should break even if you can sell your house for at least the $201k you own. In fact I believe your house should be sold in a week or less if you price it at $250k then you can pay the bank, pay your debts and pocket several thousand in profit to be used as a downpayment for your next house when you relocate.
Maybe Elfyum and her husband would be interested in your house if they can sell theirs for the $260k they believe its worth.
I spoke with my dad and he says bankrupty will not free you from your mortgage obligations and not stop foreclosure. How much debt do you have? If your debt is small, do you really want bankrupty for that? You can only file bankrupty twice in your life and it will ruin your credit. Probably wont be able to get a mortgage again.
If you paid $169k for the house and own the bank $201k(negative amortization ) you should break even if you can sell your house for at least the $201k you own. In fact I believe your house should be sold in a week or less if you price it at $250k then you can pay the bank, pay your debts and pocket several thousand in profit to be used as a downpayment for your next house when you relocate.
Maybe Elfyum and her husband would be interested in your house if they can sell theirs for the $260k they believe its worth.
NAH,
no it will not free me from my mortgage obligation however, I will not have to pay off the 8+K debt with in three months. This alone allow me to keep the mortgage payment at an affordable price. My reason for getting behind was the forced insurrance not the mortgage payment. The lender will not loose money, they will be payed in full however at an affordable rate that we could pay. The mortage company wanted me to put 4k down and every month for three months pay 1600 roughly plus my normal mortgage payment thats 1288, the total would be 2888. That I could not afford and would eventually loose the house. At the present moment if the house does not sell this is my only ralistic option. I will not sell the house for 260k when the value is alot higher, I am willing to sell at 40k unser but not 87k. What would I be doing to my heighbors only depreciating the value of there homes. This is a domino affect and I would not like to see other families going through it.
I hope that you are able to get out of this mess. Also hope this is a warning to any persons with "rose colored" glasses that even a hard working family person can become mired in the Miami mess. This is why I come across as "negative", to warn the other people not to come to Miami or they too will face hardships like nowhere else. And confused, I hope that you get this resolved before a hurricane hits or the bubble bursts. By the way for those that do not know it is ILLEGAL to share a home with other families according to Miami-Dade code. So anyone renting rooms or living together in a single-family home should be careful before you call Team Metro on your neighbors.
One of the reasons why my neighborhood is nice and compared to others safe is because we dont have two and three families living in one home. I believe that just lowers the value of the neighborhood. I genuinely care for my neighbors and my surrondings.
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Citizens will only pick up your policy if you CANNOT get any other insurance and technachly I have insurance.
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) you should break even if you can sell your house for at least the $201k you own. In fact I believe your house should be sold in a week or less if you price it at $250k then you can pay the bank, pay your debts and pocket several thousand in profit to be used as a downpayment for your next house when you relocate. 
