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.
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I hope it goes fast.
ReplyDeleteG in NY
My husband and I are beginning this whole process and I truly feel for what you're going through. We plan to talk to the mortgage company as little as possible. Know that you're not alone... there are so many people out there in your situation. You would think that the Banks/Government would be listening now. What the Gov't offers just isn't enough and the homeowner is the one left holding the bag. But... it is what it is and as time goes on, foreclosures will go up. I don't feel bad about letting them have this house... I feel bad that we'll get hurt by it (credit score), but we won't lose sleep over it. These are rough times. We wish you well and hope that you'll try to look at it as a fresh start. That's what it is, you know.
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