Mortgage Forum

Joel Fraser

Hi guys,when I found this forum I was moved and angered by so many of the stories. I recognized my own history in so many of your descriptions. So to my story: my name is Andy and I moved with my wife to Florida. We wanted to live close to my dad. I would continue to work for Warner and we'd have nice jobs. We'd be able to pay all but the tiniest portion of our bills with one salary.After some time plans started to change a little. My regional director was reluctant to lose me to another branch and asked if I would consider staying. I did not know him yet particularly well but I had a good feeling so I agreed. This changed our sought after location for a home, but not the plans to move.We sold our house in town and made a nice profit. We found a builder and a place. After paying for the move, we put half of the remainder down on a new construction home with this builder, nearly a third of the cost.For the next year, we rented a temporary home and my wife started to look for job. But alas months long applications with no results. This was a very important sticking point for us, but we were still getting by on my salary.Then my job went sour and I decided a job change is right.It looked like I'd found the perfect opportunity. A job that combined all my skills. The compensation package was compelling. The basic salary was less than what I was used to making, but considering the bonuses I had the potential to triple my salary.My new job didn't provide for health insurance. I did not believe this to be a big deal. I was so wrong. Our kid's medication had always been covered by my employer's health insurance plan. Now we had to pay for them from one salary. We're talking hundred of $ per month. Our mortgage-payments were at $1000 per month. I was running into an overdraught. Imagine what decisions I was making: to pay bills or medicate my child?That's when it hit the fan. We were behind on our payments. Weird thing about mortgages: when you're late, you aren't allowed to pay a little to at least get something in. No, you have to pay the WHOLE SUM you owe. Then my health went belly up. I could not put in the long hours necessary at work and I started becoming depressed because our situation had worsened.We were still in arrears on the mortgage, because the lender wanted ALL or nothing. I didn't know where it was going to come from. The message in the media was that the government was going to rescue those in danger of foreclosure. The announcement came in: if you aren't currently in arrears, we'll protect you. If you're not in arrears, then you're not at risk of foreclosure.Help would not be coming for us. We had to leave our new-found home. We were growing pretty fond of it. That is when everything fell apart. My health worsened to the point where I couldn't think of regular work. My wife started taking degrading jobs in retail at slavelabor conditions and we moved to my dad's place. We had reached the nadir.Now I am sad and angered and depressed. All my dreams of making a life for myself and my family are shattered.Andy