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foreclosure help. *no bashing please*

Posted by on Apr. 1, 2010 at 2:49 PM
  • 16 Replies

My DH and I own a small home in our town.  Last year my DH was laid off two times, for a total of 6 1/2 months... during this time on unemployment we paid as much as possible every month towards the mortgage and stayed in contact with them the whole time... we tried to apply for a modification on our loan so that we could get through the unemployed period, but we never heard anything about our application, and each time we called they said it was still processing.  By the time DH got a job again, we were almost $3000 behind on our payments b/c his unemployment pay was less than half of his salary.

After struggling to try and get caught up, we realized that we weren't going to be able to do it on our own with all our other bills and a child.  So we moved out of the house, listed it for sale, and move in with my parents to try and save money.  My husband got a good job, and we started trying to catch up on all our delinquent bills from the time when he was laid off.  We had renters move into the house to help alleviate the stress of paying the mortgage.  We have been paying the mortgage since they moved in, and trying to get caught up on the past due, but couldn't totally...

finally, we received a notice of foreclosure even though we were sending money (+ extra!) in every month.  We would have been able to pay off most of the delinquent but when we received the foreclosure notice we discovered that with all of the late fees, and lawyer fees that they added to what was late, we didn't owe $3000, we owed close to $6500!!!  This extra was tacked on to pay for legal and filing fees, and late fees...

The sale date is set for July 29th... before then I KNOW we can come up with close to $4000 b/c of my husbands job and my part time salary (I can't work full time b/c I am pregnant again, and high risk, so I'm on modified bed rest).  But we can't pay the complete late amount needed to stop the sale of the home.

I don't know what to do!!!  Our families have been hit VERY hard by this recession and are in no position to help us right now.  As it is, I have cut ALL everything out of our lives that isn't NEEDED... We don't have cable, we have internet tied into our cell phones and I can't afford to break that contract or I would (there is only a couple months left on it, and I have no intention of renewing), I lowered our cell phone plans, I budget and coupon shop, I have a garden for this summer to grow most of my own veggies, one car is paid off and we are working on the other one, and we have no credit cards.  I can't figure out how to cut more out and save more money.

I want the house to sell, but NOT in foreclosure... at this point I don't know what to do... can anyone help offer advice on where to go and how to proceed foreward?

*PLEASE don't bash!  This year has been very hard for us and we are doing our very very best*

by on Apr. 1, 2010 at 2:49 PM
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Replies (1-10):
nf1
by Bronze Member on Apr. 1, 2010 at 2:53 PM

sorry!We  lost our house to.Our mortgage jump from 1500$ a month to 2700$.Its sad.hugs

themacs4
by on Apr. 1, 2010 at 2:53 PM

 Have you tried to contact your mortgage company again?  I would call and ask to speak to a supervisor.  I'm sorry you guys are going through this!!  I hope it all works out!

smurfiest
by on Apr. 1, 2010 at 2:54 PM

Do you have anything to sell? Furniture, TVs, DVDs, computers, toys, clothing....? I would try to sell everything but the bare essentials- it seems a shame to lose the house over $2500 or so.

smurfiest
by on Apr. 1, 2010 at 2:55 PM

 

Wait- you have two vehicles? Sell at least one of them, pronto!

mspecan_tan
by on Apr. 1, 2010 at 2:56 PM

You can't move the closing date up? Is it a short sale? I would call your mortgage company as well and let them know whats going on.

petersgal
by on Apr. 1, 2010 at 2:56 PM

I sold almost everything I could when we moved in with my parents... all the furniture we have left is DH and my bed, and DD's bedroom furniture.  The only computer we have is the laptop I am on right now, that I HAVE to have for school... we already got rid of our other one. 

*sigh*... I know.  I can't believe we might lose our house b/c of legal fees...

Quoting smurfiest:

Do you have anything to sell? Furniture, TVs, DVDs, computers, toys, clothing....? I would try to sell everything but the bare essentials- it seems a shame to lose the house over $2500 or so.


Lori_G4
by on Apr. 1, 2010 at 2:56 PM

Go to your library and see if you can find some newer books written about the ins and outs of foreclosure and how to avoid it. I was very afraid about my dh losing his job last year, and that's what I did. I can't for the life of me remember the title of it, but I found a really great one about trying to avoid foreclosure. I do remember that as a last resort, if you just can't afford to stay in your home, but you want to avoid foreclosure, you can do what is called a "short sale." Google that, or like I said before, try the library. Dh didn't end up losing his job, but he did have his salary cut, and our mortgage company ended up working with us. I completely and totally feel for you and your family, I know how stressful a looming foreclosure is. GL!

themacs4
by on Apr. 1, 2010 at 2:58 PM

 I think she means the foreclosure sale date.

Quoting mspecan_tan:

You can't move the closing date up? Is it a short sale? I would call your mortgage company as well and let them know whats going on.

 

petersgal
by on Apr. 1, 2010 at 2:58 PM

we can't!  The truck DH drives can only hold 2 passengers - it's a work truck and that is the one we have a loan on.  Right now the loan is more than the car itself.  Our other car is the only family vehicle and is totally paid off

Quoting smurfiest:

 

Wait- you have two vehicles? Sell at least one of them, pronto!


klynn80
by on Apr. 1, 2010 at 2:58 PM

Had you been in contact with the mortgage company throughout this?  Once you're about to be delinquent, if they know about it they can work with you to prevent a foreclosure.  If it's going to be a long term delinquency they can still help you out.

I'm not suggesting you do it, but I worked as a bankruptcy paralegal and a lot of our foreclosure files were stopped and handed off to me because people would file bankruptcy up to the morning of the sale.  If they filed before the sale was finalized, the foreclosure was stopped.  Like I said, not suggesting you do it, but a lot of the files that came across my desk were people who initially filed to stop a foreclosure.

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