About Me

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My husband and I are both 35. We have two small children, ages 5 & 2. We are a military family in the midst of the foreclosure process.

Our Story:

Our family has been facing the idea of foreclsoure for the last year, but it has now come to decison time....

Our brief story......My husband is currently on Active Duty in the Air Force. In June 2006, we were sent (called a PCS in the Air Force) to Las Vegas, NV. At that time, we purchased a house for 455,000. This was well in our means and affordable. Nothing large, 4 bedroom 3 bath. It was next to impossible to even get a house at that time. We put 10% down plus an additional 50,000 to finish the house (it was new construction and needed landscape, window treatments ,etc.). Now, 3 years later, our house is worth 212,000 - we have no choice but to "walk-away" from our dream home.

This past summer we once again moved for the military. This time to Kansas. We knew our future looked dismal. Fortunately, we were able to get renters in our house; however, they were paying less then what we owed our mortage company monthly. These renters have turned out to be bad news. They have been late on payments and are now leaving our house. Now, unable to get renters, plus knowing that we can not afford the additional payment of 3,000./month, we have no choice put to walk-away.

We have tried everything else we know of. Over the past year, we have sent several "hardship letters" to the bank. All of which have been denied. In addition, we even "qualified" for the "loan modification program" from the government. However, after two weeks in the program we were sent a letter stating we were denied for no reason. What a joke that was:)

Wednesday, January 6, 2010

The Irony

I just got done checking my email today and couldn't believe the email we received from Wells Fargo......
Happy anniversary!!!


This month marks your anniversary as a Wells Fargo Home Mortgage customer. Part of the enjoyment and satisfaction of being a home owner comes from making improvements that turn your house into a “home.” The right improvements can increase your home value and some may even reduce your living costs.


Seriously??? Does the bank even have a clue that we haven't made our payment this month? I am still very bitter towards our bank. I have probably called the bank well over 40 times this past year. Each time trying to plead for help, sometimes, many times, in tears. No one cared. Half the time they transferred me when I was in the middle of my story. I sometimes thought they had a "red flag" on my account that read "Hey it's the crazy lady calling again....beware - she might cry. Just play dumb and keep transferring her".

Again, I am very bitter towards the banks. I watched the news last week when the bank executives met with President Obama. From my understanding, the CEO's told the White House that the homeowners weren't complying with the paperwork required for the "making homes affordable" program which is why there were very little permanent adjustments. REALLY? That is total crap!!!! We filled out all of the paperwork, sent our "trial payment" in on time and was told that we were not eligible after only 2 weeks. WHY? Oh yeah, still can't get an answer from the banks on that one.
OK....I guess I could keep typing about how much the banks make my blood boil.....but today I will end with Happy Anniversary:)

 

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