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:)

Tuesday, April 6, 2010

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
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1 comment:

  1. AnonymousApril 8, 2010 at 7:47 AM

    I love your blog. This whole thing is sad.
    I just want them to foreclosure, get a lawyer, file for bankruptcy and move on.
    I check your blog daily. Good luck.
    G in NY

    ReplyDelete

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