I knew it was comming but didn't expect it this soon. I spoke to a loan rep on Thursday and explained my situation. She said they would grant me a forebarence based on serious family illness. The forebarence would be in effect for 3 months. What she didn't say was the 3 month time period began in June and expires Sept. 16th. Sooo today I went to the basement for packing tape and found that the hot water tank has been leaking for a few days at least! I've lost heart. The only thing I feel now is intense compassion for John. All other emotions are blunted. God, I hate to be Debbie Downer. cs
Does it mean you must vacate by 9/16. I didn't know they could foreclose that quickly. I'm so sorry - and wish so much that I could help you through this. I'm cqannot imagine having to do this on top of everything else you have to deal with. Bless your heart. Big Hug.
My God....I didn't know about this happening to you.....did anyone here know this was happening to you???!!! I don't know what I'd do in your shoes...I wish I had some advice for you. Is there some council, some government office that can help her, anyone? Where does she go from here? My heart aches for you and I wish I could give you some guidance. Love, Jen
cs, you are entitled to a downer. I am so very sorry for all of this being dumped on you. Wish I could do something for you, but know that we are all here for you. Lots of hugs and God bless.
This just proves that Alzheimer's is a bankrupting disease. I have been on the phone today talking with home health agencies and they tell me they are swamped by families who can no longer afford memory care facilities and are trying to "make do" with part time help. At $24/hour, it's still expensive. If a caregiver worked 8 hours a day x 365 days....it would cost $70,000 a year...so that wouldn't be a savings. I'm being told that Alzheimer's Care is "more expensive" than regular nursing care. Geez!
So we have to spend down every cent we have because there is no other choice.
cs, I'm so sorry you are going through this...It is far too much for you. This sounds very much like my situation in May. Please email me at any time, should you like......Remember, the bank REALLY does NOT want you house. It is more expensive for them to foreclose than it is to make a deal with you. You are stuck between a rock and a hard place....The bank won't talk to you until you are 3 months behind, however, then they are a real pain in the butt. ----Our situation was my husband's job loss......How do we make a mortgage payment with a drop of income of 70 percent?
I don't pretend to know what is happening with your mortgage company, but be sure to contact them again and ask for a supervisor.
You do not have to lose your home so quickly. Maybe not at all. Make appointments with foreclosure lawyers. They do free consultations. I would suggest seeing 3 different ones, so you can compare what they say, and get references from other people who have used them.
These lawyers are experts in foreclosure, can advise you what to do, when to do it, and how to stay in your house if that is what you want.
I don't recall where you live, but here in Florida, where foreclosures are rampant, people are living in their houses for up to 18 months without paying their mortgages, because the courts are so backed up. I am not a lawyer; I cannot give foreclosoure advice; and I would never advise anyone to not pay their mortgage. I am just relaying information I know to be true based upon what I know is going on here.
DO NOT DEAL WITH YOUR BANK BY YOURSELF. See a foreclosure lawyer ASAP. They will help you through the process and relieve your stress.
CS, I am so sorry you are dealing with this stress on top of everything is you have on your plate. Joan, has gave you some very good advice, please listen to her. You are in my thoughts & prayers. (((((Hugs))))) Kadee
cs, you are in my thoughts and prayers! Joan and the others have given you good advice to try to help you be able to avoid the foreclosure for now, and I hope that you find that knot in the rope tomorrow with a few well placed phone calls! Please keep us updated, dear friend! (((((((((((((HUGS)))))))))))))))))
cs, I really hope you don't do anything tomorrow but act on the good advice you've been given here. DON'T WAIT. Wow, my home means everything to me....it and everything that's in it are all I have and couldn't imagine loosing it. Much less, where on earth would my animals and I all go??? You're certainly in MY prayers. Keep us posted.
Is your mortgage Fannie Mae or Freddie Mac? If so, go to:
"www.MakingHomeAffordable.gov" or call 888-995-HOPE
I was told about this site when I was worried about job prospects in the current economy. They encourage you to speak to your bank initially, but will help direct you on how to negotiate. They counsel about either Refinancing, or Loan Modifications as two seperate options.
CS - my heart breaks for you. How awful you're having to go through all this. I'm so glad you've gotten some helpful advice here. I wish we could just all surround you and see you through this. Love....
cs... all is not lost. Do you have a plan?? They will not put you out that soon. In fact if the bank has a back log of defaults they will probably forget about you. I work in a HUD program. I do know this . Start a plan. #1 do not send them anymore money. Save the money for the move. #2 find a subsidized house or apt that you can afford and make the application before the foreclosure becomes a public record. #3 contact a good attorney IF you want to keep the house. If you think that the upkeep and mortagae is too much, then just wait it out until they tell you to go. Feel free to email if you want. STAY AWAY from those foreclosure rescue folks, it is a scam!!!!!!!!!!!!
Dear friends...thanks so much for the good thoughts and good advice. Surprisingly I slept well last night and things don't look so dire today. I have already looked into some of the things you suggested but because medicaid requires half of our income be paid to the nh I know I can't keep our condo. If medicaid would only allow me to work to improve my own financial situation I would have a shot at staying here. So here's the plan (Shellseeker50): 1. stay put until I'm told to get out. 2. Keep the condo on the market and hope for the best. It's been listed for 8 months with no offers. I've reduced the price twice. I would accept any offer that allows me to break even. 3. pack up what I can in anticipation of the need for a quick move. 4. My best friend has an apartment available for me. It's not much but would be affordable. Hope she dosen't get a tennent before I need it. 5. AFTETR our sons wedding in Oct. beg borrow or steal the money for a bankruptcy attny. Sounds like a good plan to me but I'm open to your suggestions. Do all of you realize you take more interest in my problems than most friends and family members do? The people around us seem to want to turn their heads and pretend these things are not happening. All of you are simply the best. xox cs
cs, I have contacted out bank because I was told by an atty that Fannie Mae and many other banks are offering re-financing for anyone over 62 or disabled, that would be DH. I have filled out the forms, not too bad, and am waiting to hear. I may qualify for a 40 yr mortgage, I have a 30 yr now, and a drop in interest rate to 2%! This will cut my monthly payment by a thrid. As stated above, the bank wants you to keep your house. Call and ask about this new program. I also appied for fuel assistance and food stamps and got approved. Oh, if your name is on the mortagage you can also apply for hardship through Medicaid and they will take less each month, so as not to leave you destitute. That info came from the NH. Good luck, this disease tries it's hardest to suck the life out of us, you are not alone. Arms around, Susan
Great plan cs. However, you may not need to file bankruptcy if you sell the condo and break even. Even some of the HUD approved people are blood suckers. You see they are only HUD approved b/c they took the HUD approved classes!!!! Some of them are then turning everything over to a 3rd party who requires a fee and in essance, just puts you in the pond for a chance at a second or third mortgage and you end up owing more fees!!! HUGS cs.
I agree with Shellseeker50. I've been in the real estate title insurance/closing business for 30 years. Have worked with many HUD approved agencies. Have seen the worst of the worse.
cs, Thanks for the update. I am not sure as I have not read through the threads, is your husband already in a NH, if so, you say they will not let you work. You say that half of both your incomes have to be paid to the NH, This is incorrect. You can work and make as much as you like in your State and it will not count against your husband, the only thing is that if they are allowing you some of his income to bring yours up to the $1,821 per month that they allow then of course you would loose it. You could draw Social Security and even take a job and the income you receive will be yours alone no matter how much you make.
Also cs, in your State they have a hardship rule that might possibly make Medicaid allow more monthly income for you, up to $2,739 per month can be allowed for the community spouse by appeal to the State Medicaid Agency or by Court Order. I don't know if the foreclosure would allow this upgrade for you but do ask your State Medicaid Agency.
I wouldn't know what to do either, CS, but you've been given some really good information. Thanks to those here who do KNOW. I sure hope things can get better.