rebelwithacause asked:
We have second note on house for $15,000.00. (loan was made for home improvements over 2 years ago)…..The 1st home loan is for $101,000.00..We can not qualify for a deed in lieu due to having a second note…. A Short Sell is also apparently out because home is worth MORE (not less) than what is owed on it, but its not selling because noone can get a loan (house has been on the market for 3 months at market value and was reduced in price again). Also have home for sale with a lease/option…(we used a realtor and not For Sale by Owner because we wanted the process to go quick) ….Cant get 2nd loan off the house so we can sell the house for less until the loan is payed off in full… but cant do that until we sell the home…We arent even asking for a profit, we just want enough to pay off loans and the realtor fees and closing costs…We cant save our home and continue to make house payments because of loss of wages from cut backs at work.. Cant refinance because house is For Sale…….and if we could refinace it wouldnt save us from being in the same situation a few months from now (we would only save about $100.00 a month)…Cant rent a room as everyone is moving back in with mom and dad these days. We can not rent the house out to cover the cost of both morgtage notes and afford a roof over our heads too.. No one will work with us until we miss our morgatage payments (which will be very soon.. 3 months AFTER i warned the lenders of the hardship with weekly calls and letters)….and got nothing but the run around for the last few months from the lenders AND a housing counselor …. Now if our home is “FORCED” (and the key word here is “forced”) into foreclosure and the house sells for MORE than the pay off “Will they pay off the second loan also ? or come after us for that too ?? Is there any other option that we may have over looked….We just want to save our credit so we can start fresh again when the economy finally gets better..We will not consider borrowing money from family or friends who are also struggling and we will not consider using our credit cards to survive this economy down fall either….WHAT IS LEFT ? They want our homes and now they apparently need our great credit scores too !!!!!!!!!
Jay
We have second note on house for $15,000.00. (loan was made for home improvements over 2 years ago)…..The 1st home loan is for $101,000.00..We can not qualify for a deed in lieu due to having a second note…. A Short Sell is also apparently out because home is worth MORE (not less) than what is owed on it, but its not selling because noone can get a loan (house has been on the market for 3 months at market value and was reduced in price again). Also have home for sale with a lease/option…(we used a realtor and not For Sale by Owner because we wanted the process to go quick) ….Cant get 2nd loan off the house so we can sell the house for less until the loan is payed off in full… but cant do that until we sell the home…We arent even asking for a profit, we just want enough to pay off loans and the realtor fees and closing costs…We cant save our home and continue to make house payments because of loss of wages from cut backs at work.. Cant refinance because house is For Sale…….and if we could refinace it wouldnt save us from being in the same situation a few months from now (we would only save about $100.00 a month)…Cant rent a room as everyone is moving back in with mom and dad these days. We can not rent the house out to cover the cost of both morgtage notes and afford a roof over our heads too.. No one will work with us until we miss our morgatage payments (which will be very soon.. 3 months AFTER i warned the lenders of the hardship with weekly calls and letters)….and got nothing but the run around for the last few months from the lenders AND a housing counselor …. Now if our home is “FORCED” (and the key word here is “forced”) into foreclosure and the house sells for MORE than the pay off “Will they pay off the second loan also ? or come after us for that too ?? Is there any other option that we may have over looked….We just want to save our credit so we can start fresh again when the economy finally gets better..We will not consider borrowing money from family or friends who are also struggling and we will not consider using our credit cards to survive this economy down fall either….WHAT IS LEFT ? They want our homes and now they apparently need our great credit scores too !!!!!!!!!
Jay
