Quote:
Originally Posted by cruz5010  The problem here is that I want to keep my house. I dont want to list it w an agent and give it to a stranger. I want my house. |
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Cruz,
Good morning again.
I can feel your pain, believe you me. I was in the same situation as you are because my husband and I bought our dream house too. We have put all our equity, retirement money and our life savings to our house. We told our self no one can get this house from us, we love our house so much. But I lost my income when an uninsured driver hit me and became disbled for many months. We hold on and hold on thinking my husband still works and we have our equity from our old house and we have our 401k's, the money and savings, retirements we have will last for 2 years, we thought.
My co workers and friends told us to sell the house while we still have equity on it, but we did not listen, we were proudful and at the same time we were crying inside. We were thinking the economy will pick up, home prices will go up and I will find another job again. But the reality is it didn't, I could'nt find a job and during my disability, my husband retired. Sure we probably have about 4 months of savings left, but I know that money too will be gone and I ddid't want to lose my house and lose all our 4 months savings left. We have to be realistic and accept the fact, that our life is very important than losing a house, our life is more important than being fearful and worried to death. With all the stress of losing my house to foreclosure and the feeling the shame when the Sheriff knock on our doorsteps taking over the house, we decided to let go.
We put our house in the market, 6 months came by, and 6 buyers back out citing long process with
CW and the listing expired. We have listed it again, thanked God to loansafe.org, and to Cat, Moe, Professor Shays and Andrew for all the tips, insights and informations how to deal with
CW, Actually, I was the same adamant person kept bugging Moe, Cat and Professor Shays and Andrew, I want to keep the house even though we have moved out of the house. But Andrew told me that I have to accept the fact that I cannot afford the house with our retirement income. So that woke me up.
CW finally approved the Short Sale which took them 4 months to approve it and another 1 month and 10 days to close the escrow.
I am telling you my story to hope that it will help you. If not, then you have a lot of things to deal with. First and foremost, you need to tell your mom what's going on since her name is in the loan and her credit will be affected if this house foreclose. You need to say I am sorry mom, I didn't know that this thing will happen, you have to deal with the heart issues first, especially family, that's more important.
Second, I could see that your situation falls on the extenuating circumstances because of your divorce. Write a financial hardship letter to
CW and tell then because of your divorce it really affected everything. There's a example of Hardship letter to your left which is colored blue in the Homeowner Tool Box which will give you an idea how to write a financial hardship letter. Do it fast, attached your pay stubs, copy your divorce decree, bank statements and fax it, email it and mail it via certified letter to
CW.
I am very sorry for what you are going through right now. I hope and pray that God will give you favor from
CW, investor and negotiator. May the Peace of God that surpasses all understanding will guard your heart and mind through Christ our Lord.
God bless you always and your family too.
Sincerely,
Faith
