Mortgage Forum

Joel Fraser

I've been on a hiatus from the forum for a while.....but thought I'd pop in tonight since I have a little time. My revised story....we moved. Well, we walked away from the home that was going to kill us, literally and figuratively. We were served papers and retained an attorney to file our answer a few months ago. She recommended contacting a real estate agent who then met with us and put the house up for sale. We figured anything was better than nothing. Well, nothing it is. After being on the market for 3 months and getting no bites, even after dropping the asking price to $30,000.00 less than we owe....the party is over. And.....good riddance at this stage of the game. We found a lovely place to live. My parents bought it and we are "renting" from them. WE LOVE IT!!!! The beauty is......it will be paid off in 4 years and 9 months!!!! We are not completely out of the other house and have some things in the garage and attic that we need to remove. The trouble is finding a place for everything. The drag is that the home is obviously "empty" so, as I expected, things are coming up missing every time we go there to move more stuff out. A ladder from the back yard, christmas decorations from the garage, one of my kids' bikes, pipes from under the house......you get the picture!!!! I knew this would happen. Sadder still is the fact that every week there is another empty house with a wishful FOR SALE sign in the front yard. At this point, our contract with the real estate agent is about up and the lender is pushing to move forward with the foreclosure. Our attorney was going to ask for an extension but we told her the sooner we can move on with it, the better. We are still carrying insurance on the house and the utilities are on so it would show well to prospective buyers...and it would be nice to get out from under everything. Incidentally...FIRST FRANKLIN was/is our lender and the "modification" we were offered after a year of trying to work this out was to drop our interest rate 1% and then escrow our taxes....thus increasing our monthly obligation by $300.00. Obviously not quite the modification we were hoping would happen so we could stay in our home......so now they can have the house and the hassles that will go along with it. GOOD LUCK!! Oh.......and I got a job so perhaps this is/was a blessing in disguise. Things, it seems, may be turning around. HI ERIKA!!!! :):):):) Char