Foreclosure stress--long--

[lfoose]

Well, what I found interesting is that in the last couple of months, we've found out the 'real' story w/our renters.

The mom and dad of the man that wants to buy the house had their house go to foreclosure back in Oct (when they first wanted to rent our house). Their credit is shot because of medical bills.

The guy that wants to buy the house supposedly has a credit score of 600+ but can't get financed becuase his credit isn't seasoned enough. The realtor insisted that in another 6 mos, he'd be able to get financed.

We finally had to say no. It was starting to feel like we were getting the run around and even w/the rent, we started each month off in the hole.

Plus, all we heard back in Oct is how they loooove the house yet, they were unwilling to negotiate on the rent when the contract was up and insisted that they could go to another house of a similar nature for cheaper. Then go!

 

[All about the EGG]

Yes, they are playing you. Seriously tho...look how messed up their credit IS. Do you want the same situation?

There is hope for you, dont give the house to the bank!

And whatever you do...dont get scammed by a debt consoldation company. Deal with your bank.

You mentioned the big "L" thing. I replied about a guy on our street...but I pulled it. If you want to read it, I can post it.

 

[Hangin Wit My Peeps]

Oh that is terrible! I sure wish they would have realized that they could not afford to buy it and let you try to continue to sell. We had double mortgage for a few months and THANK GOD ours sold! It was getting pretty tight! I pray that everything is ok and that something GOOD happens to make up for what you have already lost. And so sorry to hear about your friend too

That was sad.

 

[bamadominaker]

Whatever you do, do not file bankruptcy..... If your credit is already ruin as you say then call the mortgage company and try to work something out with them. Remember it is better to be truthful with the people you owe, sometimes they can help you. Have you tried to refiance anything and get a lower rate? Call Caldwell Banker and see if they can get your home SOLD. If they can't sell it after so many months they will buy it.

Options:
Give the renters notice (45 days) that you need them to move out do to the fact that your home is being forclosed. Try to find someone who would be willing to make a large down payment and to catch up the loan and then get it financed for the payoff.

Whatever you do make bankruptcy your last resort.....