Your Exprtise Would Be Appreciated

[shuttlebunny]

Let me first say that I'm not whining, I should have dealt with this, but was afraid.

The forclosure sale has been completed and the bank bought it back.  I don't have the means to pay it in full, although I am able to make at least double the payments at this time.

I'm also not looking for the lowest interest rate I can get.  I messed up and am willing to pay.  What do I do now?  Should I get my own attorney?

Your suggestions (yes, even the reprimands) would be appreciated.

Thank You,
Sue

I realize this is not the purpose of this forum, maybe you could consider it a teaching too;?

[Mdhaas]

Did I miss something?  What led up to this situation?  Is this your personal residence, investment property.....

[shuttlebunny]

Mark,
Thank you for taking the time.

Yes, this is personal property.  Through a series of tragic events we fell behind.  First my husband was out of work.  We fell a few months behind so I contacted the lender.  I explained the situation, told them that we were now able to resume our payments and asked if the missed payments could be moved to the end of the loan.  I was told no.

That's when I became a complete idiot and stopped returning calls.  I couldn't handle the stress and was drinking too much.  That's what landed me in the hospital.  I found out that I have diabetes and the whole thing put me in a diabetic coma.  I stabilized and insisted on rehab to quit the bad habits.  I'm on the straight and narrow and want my life back!

I thought the forclosure sale was in Feb and finally had the guts to make the phone call.  I'm told I'm too late.

We're both working full time + now.  Are there solutions for us?
Thanks again
Sue

[Mdhaas]

I stabilized and insisted on rehab to quit the bad habits.  I'm on the straight and narrow and want my life back!

 

Good for you!

There should be someone that you can talk to at the mortgage company.  I am sure that the ywould be willing to work something out to get you back on track.  A Foreclosure sale is not going to make them any money. 

I would try to find someone in a supervisory level at the mortgage company to speak with.  This is easier said than done. 

Remember, just as in your life choice......it's not over until you say it is!!

[shuttlebunny]

Mark, Thank you for the kudos!

I'm NOT going to blow this if I just get a start.  I haven't had a drink in over 9 months and I love my life so much more now.  Even the awful phone calls I made today couldn't break my resolve.  A friend once gave me a suggestion that calms me down:  What's the worst thing that could happen?  I've already been there and I'm not going back!

I will try your suggestion and keep you posted.   :smileAnybody want a house in Wisconsin?  It was -20F last night.

[Mdhaas]

Please keep us posted!!  We will attempt to help in any way we can. We will be rootin' for you!!

[phlemboy]

You can look at it this way. You have everything that's truly important in life. Try like hell to get your house back. The bank wants your mortgage, not your house. I'm hoping they can see a way to get you back on track. Let's look at the worst case scenereo. You lose your house and have to move. While I know that's a hard thing to, you can & will overcome this. It may take about 3 yrs. of clean credit to get you to the point where you can buy another house. Although increasingly scarce, there may be some loan programs out there for you now. Keep calling lenders in your area, search the internet (this site). I hope it all works out for you. Good luck.

                                     Mike

[propertymanager]

Sue,

I might be misreading your post, but you said "the forclosure sale has been completed and the bank bought it back".  Unfortunately, I think it's too late to buy back the property, unless you have the money to get it during a redemption period.  I would suggest moving into an apartment and getting your financing in order.  If you're still in the house, do NOT make them evict you.  The last thing you need is an eviction on your record. 

Work hard and pay all your bills.  In a few years, you'll be able to get back into a home.  It sounds like you've gotten your problems under control.  This might be a good time to make a clean start.

Good Luck,

Mike

[shuttlebunny]

Thank you for the thoughts and ideas.  Monday will tell the tale.  If I can somehow stay here I will.  If not, I'll be calling the movers.

A fresh start may acctually be the most comfoting right now.

...Let you know.
Sue

[patrick wilson]

Talk to the bank. A friend had a similar case. I went with her to the bank and we worked out a deal. First you look at the arrears. Pay off as much of the arrears as possible. Cash. Have some money with you when you sit down and talk to the banker. Then the balance of the arrears, try to get rid of this over the next 4 or 5 months. You add extra to the regular monthly payment. Example, if you are paying $800 a month, throw in another $400 to get rid of the arrears.
The bank doesn't want the house.
Good luck. We're pulling for you!