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PBROOKELKLND · 10-10-2008, 07:00 PM

It is such a sad state we live in when you hear day in and day out on mainstream media how the people that got in over their heads have caused the mortgage crisis. When in fact I believe at least 90% of us that are in this situation were not trying to make a fast buck just trying to do what we felt was best for our family. When we relocated two years ago we did not know that our first home would not sell. We weren't even trying to make money on the sale, we just wanted to sell it and payoff the mortgage. How was I to know that the value of both the houses was going to drop so drastically and consequently ruin our plan to refinance into a low fixed rate before the apr hit? How were we to know that my husband's company (where he has worked for the last 19 years) was to lose business due to the state of the economy and he is now reduced to a 2 -3day? We even had a good savings to fall back on, however month after month of this reduction in our income has taken its toll. Months of trying to work a loan mod out with Wells Fargo is taking its toll too. Thank God I can at least pray for peace through this all and not lose hope like that poor woman did.

I just do not understand why these banks cannot just rewrite the loan if we are saying we want to stay in our homes? Why is it that they would rather foreclose and rob people of our pride and our homes?

10-10-2008, 07:00 PM	#6 (permalink)
PBROOKELKLND Member Join Date: Aug 2008 Posts: 20 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: The Emotional Side of Foreclosure It is such a sad state we live in when you hear day in and day out on mainstream media how the people that got in over their heads have caused the mortgage crisis. When in fact I believe at least 90% of us that are in this situation were not trying to make a fast buck just trying to do what we felt was best for our family. When we relocated two years ago we did not know that our first home would not sell. We weren't even trying to make money on the sale, we just wanted to sell it and payoff the mortgage. How was I to know that the value of both the houses was going to drop so drastically and consequently ruin our plan to refinance into a low fixed rate before the apr hit? How were we to know that my husband's company (where he has worked for the last 19 years) was to lose business due to the state of the economy and he is now reduced to a 2 -3day? We even had a good savings to fall back on, however month after month of this reduction in our income has taken its toll. Months of trying to work a loan mod out with Wells Fargo is taking its toll too. Thank God I can at least pray for peace through this all and not lose hope like that poor woman did. I just do not understand why these banks cannot just rewrite the loan if we are saying we want to stay in our homes? Why is it that they would rather foreclose and rob people of our pride and our homes?