We're moving again....

After being here only a year - we just got orders to move this summer to Virginia.  I am really looking forward to this move.  It will put us really close to the grandparents and our girls will LOVE that. I am hoping that by the time we leave VA this will be behind us.

Also, we had no problems renting a home - FYI - We had printed up our credit reports prior to our credit getting hit - I think that helped - I would recommend that if you plan on walking from your home.

A couple of updates -
1.  2 out of our 3 credit cards dropped our limit down to $500.00.  The last one, which is American Express, still has our limit at $2000.00.  I am sure it is just a matter of time that it will be dropped.
2.  We continue to recieve multiple copies of the same letter stating that our title was hit  - I think we are at 15 - AMAZING
3.  We have a couple of notices from the post office stating we have certified mail - I'm not going to waste any gas miles going to retrive them - I have a good idea as to what they are:)

The weather is getting warmer - We have a beautiful home in VA that we will be moving too - the process is moving along - For now.....THINGS ARE GOOD!!!

They're Killing a Ton of Trees on Us....

We have been getting a ton of certified letters from the bank this week. At times, we have gotten 3 of the exact same letter each day. One letter stated we had to make our payment in full by 4/5/10 or they are going to proceed with the foreclosure.  We think this letter was the Notice of Default.  We are still trying to figure out all of this paperwork.  I guess I was expecting a letter that said "NOTICE OF DEDAULT".  Either way, I am happy the process is moving along. 

We checked our title this week and noticed that Trustee Corp filed a "Notice of Breach and Default and Election to cause Sale of Real Property Under Deed of Trust"n 3/29/10.  Don't worry, after we checked our title we also received 4 certified letters (all the exact same) telling us they did that.

On another note....I ran across this article today....It talks about Foreclosures Rising and that this is "only the beginning".  I can't say I know how to fix this problem BUT I do know that many GOOD people are become a statistic in this horrible crisis.  The programs that are avaliable today are a joke - IMHO

A couple of updates....

1.  Two of our credit card companies slashed our limits from 20,000 to $500.00.  We knew this was coming so we were well prepared.  Can't say we really need a credit card except to book flights, hotels, etc.  So, we will just pay them off immediately and $500.00 should be just fine:)

2.  We recieved a letter from Wells Fargo stating that our loan file has been referred to their attorney to begin foreclosure proceedings.  I hope this means the process is continuing to move forward.

We are anticipating our Notice of Default in the next couple of weeks.  My understanding is that we will receive it once we are 90+ days late.  I will keep you posted.

Wish there was something to report.....60+ days late....

Same story......different day.  The banks keeps calling.  I answer the phone once a week (kinda hoping for a miracle).  I tell them our story and it is the same answer " Sorry, there isn't much more we can do!!!"  REALLY????  I kinda feel bad for the people I talk too as they are just the puppets of these big banks.  BUT, I also know that they are eager to get some type of $$$ from me (I read somewhere that they get a bonus/commission is they can get us to pay something - don't quote me on that).

Thanks to those of you out there following our story.....I hope our story can help in some way. 

I feel like we still have a long way to go....I wish it could be over tomorrow but that is just not the case.  We still know that we have made the right decision for our family (was there really another decision anyway??). 

Healthy kids, happy family, hope for the future - it can't be that bad, right???

Not much to report......

The banks calls are happening just about everyday now.  It is funny, I went a week with no calls and now they are calling everyday again.  I answered the phones a couple times last week.  I told each representative our situation.  Each time they told us sorry and there was nothing more they could offer.  I'm not sure why they are still calling......Do we need to be 90 days late for them to accept a DIL?????

I answered the phone. Now 60 days late.

Lately, the calls haven’t been from robo Jessica. So, I decided to answer the phone. I kept telling myself “be nice” before I picked up the phone. On the other end was “Monica”. She stated she was calling because we were eligible for the HAMP program and she “wanted to help”. At that point, I explained everything to her. We had been denied HAMP already. We were denied 3x modifications AND just recently denied a DIL. I also explained how we are military, our house is in Vegas, renters bailed, we can’t avoid the house payments,etc. I also explained that we called over 1 month ago and offered our keys for a clean house with all appliances, etc. and we were even denied that too.

Monica was VERY nice and said how sorry she was to hear all of that. I said the only thing that we would be willing to do at this point is a DIL. She said she would talk to her manager and call me back. She called back within 10 minutes (surprisingly quick). She stated she talked to her manager and HE “underwriters” The way she talked she kept referring to the “underwriters right next to her”????

Here is what she said: The underwriters want a 10 minute interview and us to fax in our financials and then they would tell us what we would be eligible for. After about 15 minutes talking to Monica I flat out said NO. (I actually debated the idea for a couple of minutes). They absolutely have everything!!! I told her if that I could not emotionally go through this process for the 5th time and be denied. I told her to tell her “underwriters” that they have EVERYTHING in their files. Take time to look at it!!!! Not to mention, they only thing they could possibly offer is a DIL (I didn’t even tell her that we wouldn’t except it unless it released all obligation of the debt – that is something we will deal with if we even get a DIL).

At the end of the conversation, I had her note that we would like to a request a DIL. She said she noted that. She was very pleasant and SEEMED sincere…..not sure what that is worth.

A couple of things I noted from this conversation:

1. She was very persistent in wanting to get an interview – not sure why but kept pushing to do a 10-minute financial interview.
2. She was from the Loss Mitigation department (Wells Fargo)
3. She kept saying her “Manager” and “Underwriters” throughout the conversation and stated they were in the officer right next to her – interesting!!!
4. She asked if I would like to be removed from their call list – I said yes. She did say; however, that she can’t remove us from the collection call list.
5. At one point, she really tried to say how bad a foreclosure is and how it is going to impact my credit – I told her that is not an issue since it has already been hit

I don’t expect another call back from her or her “underwriters”.

DIL = Denied!!!

I knew our chances were slim-to-none to get a DIL but I thought I would try. We have our first and second loan through Wells Fargo. We are approximately 60 days late. I called our 1st loan and they stated that we had to get the 2nd loan to release (or settle) their portion of the loan in order for them to consider a DIL.

This led me to a conversation with "Christopher", a gentleman who works with the 2nd loan. This was after many phones calls trying to get the right department, etc. I told him we were requesting a DIL. He stated that he would look into it - whatever that meant (I gave him no financials, etc.). After 2 weeks, he called back today to state that we have been denied; However, he stated that I could send a letter (to a fax number he provided) for a settlement offer - SERIOUSLY????

Well, I can now officially say that we have tried everything and have been denied at every step along the way. Let the journey continue....