Tuesday, December 8, 2009

Bad to Worse

So we may get foreclosed on--they called today and claimed not to have any of our paperwork from forbearance. They also said we couldn't have our payments modified this month and have the past payments added on, though they had told us before that we could--starting this month. I asked if the bank hadn't recorded all the phone calls with us and if they could replay those calls; they said yes but that they couldn't pull them now. Husband has a job interview tomorrow. God, we need this!

I feel sick. Husband's going to be on the phone all day trying to figure this out, I suppose. We can probably borrow some money from family, but what's the point if we'll lose the house in a few months? Unless we can get that job--soon. Soon, soon, never soon enough.

Update: interview tomorrow, meeting with the mortgage company Thursday. Please keep us in your prayers. We need proof of income coming in. A few weeks even could make a big difference. Have been on phone with nonprofit for advice and the mortgage company, need to find an attorney who specializes in foreclosure if we can afford it. I'd say I can't take this stress but people do. What choice is there? Reaching another point of stasis is important to me, even if it's moving in with our parents. The moving process itself will be extraordinary because of disability. Security, not instability.


yanub said...

It's true. People do take the stress. And it wears on them. This is part of the reason that poorer people have worse health. (The other part being that, with bad health or disabilities, you tend to be poorer. And then the financial stress makes you even less healthy.)

But remember, the house is just a house. The mortgage company is stupid to foreclose on you in this market, but if it does, and you end up moving in for a while with family, that is at least one bill off your necks. Once y'all have a steady income again, you will have no trouble finding a rental. And with all the foreclosed, unsalable property around, you may even be able to buy sooner than you expect.

Good luck to the mister in his job interview!

By-the-by, what mortgage company is this? Would it be one which has taken our tax dollars to lavishly reward its executives for bad financial practice while not doing a damned thing to help out mortgage holders?

FridaWrites said...

I agree we'll be okay in the long term--I should keep my eyes on the horizon too since this whole process is genuinely difficult.

Yes, they're a bailout company, taking millions or billions for financial execs and canceling jobs here and sending them overseas. With the glut in this market I don't see how it's to their advantage to have another house rather than wait until he has income from this one job (proof of it, with tax forms and contract and everything).

I still have hope that things will work out okay--I don't just mean keeping us in our house--but without too much trauma.