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Thank you for your comments ChicagoJo, I will look in to selling items that I have, a second job is not an option for me since my main job is so demanding.
The student loans were deferred and are now in default. My stance was that I am 45 and am not adding student loans to my bills.
Right now my thoughts are to bank my mortgage payments until I can go over all options. My credit is shot due to these student loans so my belief is that there is no time like the present to pursue this.
I have decided to give an update on my situation or maybe an insight on what goes on when some folks go through the foreclosure process. I am still working on the septic situation, we think the previous owner paved a drive over it.
It is getting chilly now and we have no heat, but we do have a fireplace if needed and a space heater. I am hoping that I do not have to use the kerosene heater that is stored in the crawlspace under the home. I am hoping to get someone to look at the heater on payday, the budget for that will be around $300.00. Main concern is for my 12 year old.
I am now one payment behind and soon to be two. I have been contacting rental agencies with scenarios and looking for private landlords. In todays economy there are plenty to be had. I have also begun to liqudate the items that we do not need in my home.
I am having feelings that I have never felt about this process but, I must go forward or backwards depending on how you look at it.
Just an update my credit is already tanked due to my daughters student loans and I am currently paying credit card bills in order to get out of debt.
Flagstarr calls everyday I figure its best to talk to them rather than avoid them.
Fanman, you may have to make a choice on what to pay. Food and shelter should come first on your priority list. Everything else takes a back seat. Look at short sale and see if you can get rid of the home and rent something cheaper. Good luck. If you need an agent for a short sale, post your city and you may be able to get a recommendation. Good luck, I'm pulling for you to catch a break.
Regardless of why you are in this situation your main priority has to be your child. If that means doing things that others will chastise you for so be it.
It's going to happen, we are too deep in. We are upside down in the mortgage and cannot afford repairs to the house ( septic, hvac, rotting floors). Credit is already shot by cosigning for daughters student loans.
On the plus side is that my wife and I have stable jobs We have simply run out of time on this home.
Has anyone else been foreclosed on? Were you sued by the lender, could you find a rental. Any advice at this point would help.
Thanks
Would you share with us the kind of toys you have and the kind of cars you drive? Most likely new models.
I, as a taxpayer who is not in default, will be glad to pay for YOUR choices. NOT.
Regardless of why you are in this situation your main priority has to be your child. If that means doing things that others will chastise you for so be it.
Are you talking about the child with the student loans, most likely over 18?
Sure, why not, teach the kids some responsibility. Strive hard in life, and if all else fails, just ignore the promises that you've made to the financial institutions.
And when the banks stop lending, we'll just have to call them 'fat cats' and ask Mr. Obama to do something about it.
I have a neighbor who went through some kind of non-profit agency that I guess gets federal grants that came in replaced her siding, windows, doors, furnace and insulated her walls, attic and floor. I would love for someone to come in and do that for me for free, yet all she can do is complain because one of her windows on an addition was already a thermal window and they did not replace it and now she has one window different from the rest of her windows and that they only replaced her furnace and wouldn't replace her A/C.
I didn't even know such a thing existed but I honestly don't understand someone who gets thousands of dollars work done on their house for nothing complaining about not getting more.
They are underwater. Hence the desire to just walkaway and not deal with it anymore.
Just another case of capitalist gain, and socialist loss. If the economy hadn't gotten bad, and you made a big profit off of your home, you'd be keeping every penny, wouldn't you? Now life has hit you, and you didn't prepare for it, and you expect to walk away?
Just another case of capitalist gain, and socialist loss. If the economy hadn't gotten bad, and you made a big profit off of your home, you'd be keeping every penny, wouldn't you? Now life has hit you, and you didn't prepare for it, and you expect to walk away?
Geez, wonder why this country's in a mess.....
This country is a mess because hard working folks bought their American Dream, saw taxes double, sometimes triple and lost their jobs. When faced with $1100 month mortgage payment (started out at $750 before taxes were raised) and unemployment payments of $1200 month there were some very HARD choices to make.
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Update on situation
