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:)

Friday, February 26, 2010

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....
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