About Me

My photo
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, March 24, 2010

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???
Posted by at

3 comments:

  1. AnonymousMarch 25, 2010 at 6:22 AM

    I don't know you, but we are following your story. We have walked away...moved away...
    We did all we could. We have kids too- older ones, one with special needs, that we moved- we rent now in a good school district, and here we shall stay. We are over 60 days- actually over 90 days...
    It's a shadow though...it feels like a shadow- always there.....
    Good luck.
    G

    ReplyDelete
  2. AnonymousMarch 25, 2010 at 3:42 PM

    I am following your blog. I love it keep it up. I am also going to be in a similar situation soon. Except I am going to try to short sell prior to walking away. There are new laws that start early April that say the bank either excepts or rejects the short sell within weeks. However as you know the banks really follow their own rules. Good Luck with everything. This is just one bump in the road of life.

    ReplyDelete
  3. AnonymousMarch 26, 2010 at 4:55 AM

    Our house has been for sale for months- we still left, but we still 'own' it.....
    I wish we could short sale it- no one wants it, and it's so low.....
    It's just sad.

    G

    ReplyDelete

Subscribe to: Post Comments (Atom)