My Sad Story

[LadyKay]

I’ve not shared with you all much about my life issues. If you care to listen I will tell. If not then stop reading now. We have until Sept 5 to save our house. At that time it will be put up for sale for foreclose. This came about because my husband did work for someone all last year, then the guy refused to pay him the full amount he was owed. Since then my husband was out of work for 6 months. Just last month he got hired at a new job. So he is working now with good pay. But we have falling way behind in our house payment due to the 6 months of no work. I have become so stressed over all of this that at times I feel suicidal. I wake up in the morning and I say I just don’t want to do this anymore. But then I do. I have been staying with the in-laws because my husband's job has taken him to Canada. And it is best for me to not be alone at this time. We are trying to work with our mortgage company to work things out. At this point it can go either way. Husband is hopeful that by the end of the month we will be able to pay what we owe. But of cores I always think the worse. If we lose the house I am afraid that I will simply fall apart. Honestly the only thing that has kept me from losing my mind is my faith in God and the fact that I need to be here for my baby girl.

Well this is my sad story. Hope I have not depressed all of you.

[Msterbeau]

I can relate. I've been precariously close to financial disaster over the past few years due to layoffs and my own poor money management. Just remember: You and your family are alive and healthy. A house is just a house...

[creatureofthenyte]

Yeah, houses can be replaced, people cannot.

[Homicidalheathen]

I am sorry. Hope things look up for you soon. Hang in there.

[Onyx]

I know it's easy for me to say, but after you do everything you can to help the situation you really need to let it go and try not to stress out. It can cause so many emotional and physical problems. Looking back on my life, the things that I stressed out about were almost ALL not worth it in the end, and the worrying did me no good.

It sounds like your husband thinks you are still going to be able to pull out of this. I've read that mortgage companies would rather not foreclose if they can avoid it, especially if they are aware that there is a good income coming in now.

(((hugs)))

[Steven]

were trying to sell our place in order to downsize because our hosue is too big for the two of us and too much of a strain. it does wear on you, but it is just "stuff'.... we have very good credit and Laura is worried about that taking a hit but you can only do what you can do....we have never struggled financially like we have since moving to MI.

I think were going to see changes in trends between lenders and lendees because we have so many foreclosures now...it just does no good to give the house back to the lender in a stagnant market. Im asking for alot for my house (two hundred grand) because I have to to break even, and so that makes it a very big uphill battle....we could be in your position in the next 6 months.....

God is the same everyday - in good times and bad. We have to learn contentment wich is a huge challange for the modern day american, but we need to learn it for our own mental health. Im learning it even now, contentment with my circumstances and the fact that I only have so much (not much) control.

nothign is ever (ever) worth killing yourself over though, especially $$$ and possessions. We see them as symbols of success or failure but they take on too much relevancy when in truth all of our lives could change tommorow...

your husabdn got a job,,,you'll be able to survive....thats a blessing too....

[SuZQZ]

*HUGS* The stress must be unimaginable, but keep focused on your baby and taking care of yourself and have faith that all will work out in the end. You and your family will be in my thoughts. And remember, when you need to vent we are all here for you

[hunhee]

I was just talking about the foreclosure rate to my parents last night, just how astronomical they are. I don't know if you're in Oakland County, but here's a link that may help you and your husband, I don't know if it's exclusionary to people who live in the OC, but you can at least check it out and make a phone call, and see what kind of help they may be able to offer you http://www.oakgov.com/chi/housing_counsel/...oreclose_2.html I would hardly believe they would deny anyone help who asks for it.

I don't really know that much about mortgages, and the foreclosure issues, I don't own a house, but I figured if I had some information that may help anyone on this site, I will share it.

*hugs* <---you may not feel the hugs from the computer, but I hope at least you feel the warmth of our intentions

[saechalyn]

No possession is worth your life. I know it seems like the end of the world but it really isn't. Lots of people have been where you are and they do get back on their feet, and you will too. Even if the worst happens and you do lose the house, you will find a new place to live and life will go on. Your family has each other, which already means you have more than a lot of people ever find.

[LadyKay]

You all have been so kind. Thanks for your understanding. A lot of people don't understand. I'm going to go some place quiet and think now.

[Fierce Critter]

Let me offer something you possibly might not have considered.

Jon and I bought our first house in NC in 2002. By the end of 2002, we realized we couldn't afford it. Instead of just letting it get taken out from under us, I consulted with a HUD counselor.

Through the HUD counselor, we filed pre-foreclosure papers that were basically an appeal for another form of way out of the situation. We were basically requesting a "pre foreclosure sale" - basically the right to try to sell the house before they would be able to foreclose.

It took them at least 8 months just to go over the paperwork and decide whether to let us go through with it. During that entire time, and upon advice from our HUD counselor, we stopped paying. We basically lived rent-and-mortgage free for about 10-12 months, without threat of being put out on our asses.

Once they finished their end of things, they allowed the sale. We were given a date by which we had to have a sale, and a price that had to be met. It made allowance for a commission for a realtor. And we were even given cash incentives for selling at a certain price.

It took only 30 days to sell the house. The realtor had to lower the price to the minimum required by the mortgage company, but she still got commission and we ended up with something like $500 cash.

It should have gone on our credit record as a house sale, not a foreclosure. Unfortunately, the mortgage company reported it wrong. We have to jump through some hoops to get it corrected. But if you do this, just make sure you include a letter or something UP FRONT that states if the house sells, it needs to be reported correctly.

If you haven't done so yet, SEE A HUD COUNSELOR. You might not be able to keep the house. But if foreclosure is imminent, you might be able to make it a less painful process.

Good luck!

[Marblez]

Let me offer something you possibly might not have considered.

Jon and I bought our first house in NC in 2002. By the end of 2002, we realized we couldn't afford it. Instead of just letting it get taken out from under us, I consulted with a HUD counselor.

Through the HUD counselor, we filed pre-foreclosure papers that were basically an appeal for another form of way out of the situation. We were basically requesting a "pre foreclosure sale" - basically the right to try to sell the house before they would be able to foreclose.

It took them at least 8 months just to go over the paperwork and decide whether to let us go through with it. During that entire time, and upon advice from our HUD counselor, we stopped paying. We basically lived rent-and-mortgage free for about 10-12 months, without threat of being put out on our asses.

Once they finished their end of things, they allowed the sale. We were given a date by which we had to have a sale, and a price that had to be met. It made allowance for a commission for a realtor. And we were even given cash incentives for selling at a certain price.

It took only 30 days to sell the house. The realtor had to lower the price to the minimum required by the mortgage company, but she still got commission and we ended up with something like $500 cash.

It should have gone on our credit record as a house sale, not a foreclosure. Unfortunately, the mortgage company reported it wrong. We have to jump through some hoops to get it corrected. But if you do this, just make sure you include a letter or something UP FRONT that states if the house sells, it needs to be reported correctly.

If you haven't done so yet, SEE A HUD COUNSELOR. You might not be able to keep the house. But if foreclosure is imminent, you might be able to make it a less painful process.

Good luck!

Excellent advice, FC. I did not know that this assistance existed. I did a search and found a list of agencies that may be able to help. You can find them here: HUD Approved Housing Counseling Agencies

[sass_in_the_pants]

I don't know if you will take this as good news or bad news, but the boat you are sailing in right now is very, very big and carrying LOTS of passengers.

So, for starters, you aren't alone.

Also, I've worked with people in financial straits before and I will say this about mortgage companies - they would rather get their money from you than find someone else to take the house. So, I'm glad you already are working with them - alot of people wait until it's WAY too late to work with the mortgage company. The good news, then, is that the mortgage company will very likely try hard to work with you.

That's my practical advice.

Here's my warm and fuzzy advice - even if you lose the house everything will be okay in the end. People lose their houses every day (more so now), and they are GOOD people. They are good, honest, smart people who fell on some misfortune. A mark on your credit score is really, in this day, nothing to be too worked up over. You have your health. You have love. Honey, compared to alot of people, you're swimming in wealth. Try to keep your spirits up.

[Destroit]

It's horrible to keep your head above the water in this economy that Michigan is going through. I work in real estate and see the numbers all the time, over here in Macomb county foreclosure is up EIGHT-HUNDRED percent from like a few years ago. True statistic. I hope you and your kid are going to be fine, a house can be devastating to lose, but you'll get through it. Who knows too...you may be able to save it. So all is not necessarily lost yet. I'll pray for ya.

[TygerLili]

I agree with what everyone is saying. Do what you can do and take comfort in your family. Good luck!