Old 09-04-2009, 10:50 AM   #1 (permalink)
Member
  
 
ls0777's Avatar
 
Join Date: Aug 2009
Posts: 5
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
ls0777 is on a distinguished road
Loan with Chase. Unemployed and divorced. What are my options?

Hi there. I'm new to the forum, and I'm currently looking around at all the information.

Here's my situation. I've been unemployed for months now and am divorced. I do get a couple of temp. jobs throughout the unemployment but have been unable to find anything permanent. My ex husband is the main loan borrower, and I'm the co-borrower. In our divorce agreement, he agreed to relinquish all rights to the home in lieu of paying child support or alimony. We parted amicably enough.

I owe less than my home value. I did not buy this home as an investment. I want to stay in this home with my kids, since it's very close to their schools and the metro. So I'm wondering instead of selling, moving, if I have other options? Thank you so much in advance for all suggestions and advice.

Below is concrete information on our situation.



Mortgage with Escrowed Property Tax + Home Insurance (Chase): $1,126
Further Details:
- Principal Balance: $109,280
- Escrow Balance: $2,667
- Interest Rate: 6.875%
- Principal & Interest: $876
- Escrow Payment: $250

Current Home Value: $362K (Zillow estimate)

Utilities
- Water: $31
- Gas: $125
- Electric: $56

Cell Phone: $48

Misc. Expenses (incl. food, gas, etc....): $266

Car insurance (Full coverage for '08 HOnda Accord with $500 deductible. Erie.): $67

-------
Total: $1719

Occupation: Cashier. $15.57/hr. $623/wk. $2491/mo. before Tax.

Unemployment: $334/wk. or $1,336/mo. for 5 more months. before Tax.

Savings: $3,475
Checking: $5,404


ls0777 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Old 09-04-2009, 10:58 AM   #2 (permalink)
LoanSafe.org Homeowner Guide
  
 
Evan Bedard's Avatar
 
Join Date: Aug 2007
Location: Southern California
Posts: 2,168
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
Evan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond reputeEvan Bedard has a reputation beyond repute
Re: Loan with Chase. Unemployed and divorced. What are my options?

Hi ls077 welcome and thank you for joining the forum.

Quote:
Occupation: Cashier. $15.57/hr. $623/wk. $2491/mo. before Tax.
First off you no longer recieve income from this job correct?
__________________
Keep Fighting!

Evan Bedard
LoanSafe.org Support Team

Please donate via paypal to LoanSafe.org to help keep this forum going

The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.
Evan Bedard is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Old 09-04-2009, 11:25 AM   #3 (permalink)
Member
  
 
ls0777's Avatar
 
Join Date: Aug 2009
Posts: 5
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
ls0777 is on a distinguished road
Re: Loan with Chase. Unemployed and divorced. What are my options?

Yes. That is correct and thank you for the welcome!
ls0777 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Old 09-04-2009, 11:28 AM   #4 (permalink)
Member
  
 
ls0777's Avatar
 
Join Date: Aug 2009
Posts: 5
Nominated 0 Times in 0 Posts
TOTW/F/M Award(s): 0
ls0777 is on a distinguished road
Re: Loan with Chase. Unemployed and divorced. What are my options?

Also, correction to the first post. Car is '07. Not '08.
ls0777 is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote Share with Facebook
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 03:15 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.2.0
Copyright 2009 LoanSafe.org and MoeSeo Inc. All Rights Reserved. Home Loan, Loan Modification & Foreclosure Help Forum - LoanSafe.org

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100