Comments on: After Foreclosure Guide To Housing: It Ain’t Easy http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Losing it, but not losing sight http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-19267 Losing it, but not losing sight Fri, 15 May 2009 06:41:18 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-19267 I'm here in this situation because I care more for others than myself. I gave to those I thought needed help. Now I feel as if I'm taking advantage of my new lady friend that is providing me housing or is this part of God's plan. I've lost everything due to my giving nature. I tried for months to keep up with the payments. I had rental property but could not find renters. The job I did have allowed me to make the mortgage payments but nothing else. I was fortunate to live in a corperate apartment for a few months at no harge. Eventually I just gave up. This was no way to live. I did nothing, I only worked to pay the mortgage. I didn't have auto insurance for 8 months and fell behind four months on the auto loan before I turned it back over to the bank. I'm not sure what is in store for me. I'm unemployed with no vehicle and losing the house. I don't feel bad because I know there are still some out there worse off than me. I put down $37,000 so it is a value at $156,000 I can only hope someone with desire to have a retirement home in Cherrylog, N. Georgia ( God's Country) can save me from the horror of a full forclosure. It is a beautiful tract of flat land after the driveway and the view is of a wildlife management area. Help me I’m here in this situation because I care more for others than myself. I gave to those I thought needed help. Now I feel as if I’m taking advantage of my new lady friend that is providing me housing or is this part of God’s plan. I’ve lost everything due to my giving nature. I tried for months to keep up with the payments. I had rental property but could not find renters. The job I did have allowed me to make the mortgage payments but nothing else. I was fortunate to live in a corperate apartment for a few months at no harge. Eventually I just gave up. This was no way to live. I did nothing, I only worked to pay the mortgage. I didn’t have auto insurance for 8 months and fell behind four months on the auto loan before I turned it back over to the bank. I’m not sure what is in store for me. I’m unemployed with no vehicle and losing the house. I don’t feel bad because I know there are still some out there worse off than me. I put down $37,000 so it is a value at $156,000 I can only hope someone with desire to have a retirement home in Cherrylog, N. Georgia ( God’s Country) can save me from the horror of a full forclosure. It is a beautiful tract of flat land after the driveway and the view is of a wildlife management area. Help me

]]> By: JNS http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-14675 JNS Sun, 21 Dec 2008 08:22:06 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-14675 Be sure to ACT EARLY -- don't just stay in the house the entire time the foreclosure is going on even though it's "free" -- by the end your credit will be shot & you'll have a hard time finding a rental. I suffered a job loss, got behind on my mortgage, and could see the writing on the wall; although I landed a new job, it was much lower pay. Fortunately I still had a small IRA, which I raided & bought an older mobile home and have been living in it for a year now; since the home is paid for (under $4000), my monthly costs are just $350 lot rent + utils, and I am able to keep my pets. Very cheap living. I had to go through a credit check for the lot rent, but once again, I acted very early in the process & was still ok. Sure, you have to put up with the inevitable "trailer trash" jokes, but I feel like it was the best solution for me.The key is ACT EARLY while you still have decent credit and a retirement account to raid; if you don't have a retirement account to raid, still ACT EARLY and find a rental now while you can still pass a credit check. Good luck everyone! Be sure to ACT EARLY — don't just stay in the house the entire time the foreclosure is going on even though it's "free" — by the end your credit will be shot & you'll have a hard time finding a rental. I suffered a job loss, got behind on my mortgage, and could see the writing on the wall; although I landed a new job, it was much lower pay. Fortunately I still had a small IRA, which I raided & bought an older mobile home and have been living in it for a year now; since the home is paid for (under $4000), my monthly costs are just $350 lot rent + utils, and I am able to keep my pets. Very cheap living. I had to go through a credit check for the lot rent, but once again, I acted very early in the process & was still ok. Sure, you have to put up with the inevitable "trailer trash" jokes, but I feel like it was the best solution for me.The key is ACT EARLY while you still have decent credit and a retirement account to raid; if you don't have a retirement account to raid, still ACT EARLY and find a rental now while you can still pass a credit check. Good luck everyone!

]]> By: MC http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-13466 MC Fri, 31 Oct 2008 17:34:34 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-13466 This is so stressful! I too am going to lose my home to foreclosure. I spoke with a BK attorney and he advised me to file a BK13 along with the foreclosure. But after reading kg's story, I think I will wait until after the foreclosure to make sure I can lease a home. I have 2 teenagers and need to make sure we have a home to live in. I was just served with a default notice and was completely embarrassed. I have been in the mortgage business for 19 years. I purchased my home in January of 2007 and paid too much. The market collapsed after that. I am now working and have a steady paycheck (of course not making enough to keep my home because who wants to hire a loan officer). Looking back, there were signs, especially being in the business. I just did not realize it would get this bad. A big thanks to debtkid for blogging about his experience and success after such a horrible situation! This is so stressful! I too am going to lose my home to foreclosure. I spoke with a BK attorney and he advised me to file a BK13 along with the foreclosure. But after reading kg’s story, I think I will wait until after the foreclosure to make sure I can lease a home. I have 2 teenagers and need to make sure we have a home to live in. I was just served with a default notice and was completely embarrassed. I have been in the mortgage business for 19 years. I purchased my home in January of 2007 and paid too much. The market collapsed after that. I am now working and have a steady paycheck (of course not making enough to keep my home because who wants to hire a loan officer). Looking back, there were signs, especially being in the business. I just did not realize it would get this bad. A big thanks to debtkid for blogging about his experience and success after such a horrible situation!

]]> By: kg http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-12833 kg Thu, 23 Oct 2008 08:45:25 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-12833 So I'm not the only one? Wow. My problem is I have two teenage girls that I have to care for. I've done well up until this last year. Because of a series of unfortunate events, (several car wrecks where we weren't at fault, two blowouts in one week, hosptial bills, medications, payday loans, my smallest child was hit by a car as a pedestrian, ....etc.) The list just goes on and on. I got behind on my house note and now staying with a relative. What's stupid is I filed Chapter 13 before finding another place to live and now, no one will allow me to live anywhere because of my credit. I make decent money but it does me no good. I can't very well make my children live in the car or drag them from home to home. What am I going to do? So I’m not the only one? Wow. My problem is I have two teenage girls that I have to care for. I’ve done well up until this last year. Because of a series of unfortunate events, (several car wrecks where we weren’t at fault, two blowouts in one week, hosptial bills, medications, payday loans, my smallest child was hit by a car as a pedestrian, ….etc.) The list just goes on and on. I got behind on my house note and now staying with a relative. What’s stupid is I filed Chapter 13 before finding another place to live and now, no one will allow me to live anywhere because of my credit. I make decent money but it does me no good. I can’t very well make my children live in the car or drag them from home to home. What am I going to do?

]]> By: John http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-11243 John Wed, 10 Sep 2008 21:52:58 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-11243 Wow, this hits very close to home. I have just gone through a foreclosure and eviction (the movers were here today to take my stuff to storage). In a couple of hours, I will be telling my parents about it (i know, i am stupid for not letting them know before) and asking them if i can rent out their spare room until i can find more permanent digs. The worst part is, I don't know if i can take the looks of disappointment on their faces that will let me know i am a failure. I am sitting here now tearing up thinking about it as I type. Wow, this hits very close to home. I have just gone through a foreclosure and eviction (the movers were here today to take my stuff to storage). In a couple of hours, I will be telling my parents about it (i know, i am stupid for not letting them know before) and asking them if i can rent out their spare room until i can find more permanent digs. The worst part is, I don’t know if i can take the looks of disappointment on their faces that will let me know i am a failure. I am sitting here now tearing up thinking about it as I type.

]]> By: erika http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-8682 erika Sat, 12 Apr 2008 01:33:11 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-8682 Just came across this site. I too have wondered about all the people that are going through foreclosure right now. I hear of it happening so much but have yet to meet another person who I know this is happening to as well. We have been trying to sell our home for a year now, even trying to do a short sell with no luck. It is a huge hit to my pride as I never thought we would go through foreclosure. However, we had to move to a new state for job purposes and we cannot afford to pay rent here and our house payment there. My next thing to worry about is that we had refinanced a few months before we moved in order to pay off credit card debt (we did not know we were going to move when we did this). Now we will have to pay taxes on the difference between our original loan and the refinanced part....where on earth do you come up with $5000 when you have bad credit and only make enough money to make ends meet? Well, thanks for reading, had to get this all off my chest! Just came across this site. I too have wondered about all the people that are going through foreclosure right now. I hear of it happening so much but have yet to meet another person who I know this is happening to as well. We have been trying to sell our home for a year now, even trying to do a short sell with no luck. It is a huge hit to my pride as I never thought we would go through foreclosure. However, we had to move to a new state for job purposes and we cannot afford to pay rent here and our house payment there. My next thing to worry about is that we had refinanced a few months before we moved in order to pay off credit card debt (we did not know we were going to move when we did this). Now we will have to pay taxes on the difference between our original loan and the refinanced part….where on earth do you come up with $5000 when you have bad credit and only make enough money to make ends meet? Well, thanks for reading, had to get this all off my chest!

]]> By: Leeann http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-8005 Leeann Sat, 15 Mar 2008 18:03:32 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-8005 I agree with the post made by Michelle. There are also hotels that don't run your credit. All they need is a bank debt / credit card to stay there. The hotels I know of are Intown suites, Extended Stay of America and really any other hotel will let you stay there for a long period of time without a credit check. Redroof has the lowest weekly rates at around $240,00 a week in my area .. This is a very hard position to be in. I wish us all well getting on our feet again.. I agree with the post made by Michelle. There are also hotels that don’t run your credit. All they need is a bank debt / credit card to stay there. The hotels I know of are Intown suites, Extended Stay of America and really any other hotel will let you stay there for a long period of time without a credit check. Redroof has the lowest weekly rates at around $240,00 a week in my area ..

This is a very hard position to be in. I wish us all well getting on our feet again..

]]> By: Great advice for buying a home! | rocket finance http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-7755 Great advice for buying a home! | rocket finance Fri, 07 Mar 2008 14:49:49 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-7755 [...] Finally. . . if the unthinkable happens, Debtkid gives you some suggestions for dealing with the aftermath of a foreclosure. [...] [...] Finally. . . if the unthinkable happens, Debtkid gives you some suggestions for dealing with the aftermath of a foreclosure. [...]

]]> By: Michelle http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-7685 Michelle Wed, 05 Mar 2008 08:59:07 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-7685 My family and I decided to secure one of those corporate owned condo/apartment (rental only) properties. We filled out rental applications, said that we are selling our house without going into elaborate detail. The did not ask questions either. I was especially nervous about being turned down. They quickly ran our credit check (still top 800's), verified our income (I was just hired after 3 months of suck pay unemployment), and was approved for a year lease the very next day. We simply used the money we had planned to pay our mortgage BEFORE we missed a single payment - as in we never missed in 3 years!! I really do not feel right about walking away from our house debt, but my unemployment after years of solid work did us in financially. Now that we have secured a great place, we're moving out within a couple of weeks. I do not feel right about living in our soon to be defaulted home "rent free" pending a foreclosure notice to vacate. I guess my pride is too high for that kind of humiliation. It also sends the bank a strong message, bottom of the bottom, advantage taking of the system sort of person in my opinion. Do not pay, do not stay. We are moving on, taking a unknown credit hit (gulp!), and starting over however the outcome or chips may fall... Yikes. SUPER stressed and a scared about the whole unknown as of now, the unknown future collection caller and karma...On the bright side, with this strategy at minimum can establish a positive rental history despite a ding on our credit report for years to come.. My child will now have plenty of food and comfort in sight and happier parents not so stressed out financially for anyone reading this in judgment! Good luck to anyone facing similar situations – we are in part victims of the lender and housing crash do not ever forget. My family and I decided to secure one of those corporate owned condo/apartment (rental only) properties. We filled out rental applications, said that we are selling our house without going into elaborate detail. The did not ask questions either. I was especially nervous about being turned down. They quickly ran our credit check (still top 800’s), verified our income (I was just hired after 3 months of suck pay unemployment), and was approved for a year lease the very next day. We simply used the money we had planned to pay our mortgage BEFORE we missed a single payment – as in we never missed in 3 years!! I really do not feel right about walking away from our house debt, but my unemployment after years of solid work did us in financially. Now that we have secured a great place, we’re moving out within a couple of weeks. I do not feel right about living in our soon to be defaulted home “rent free” pending a foreclosure notice to vacate. I guess my pride is too high for that kind of humiliation. It also sends the bank a strong message, bottom of the bottom, advantage taking of the system sort of person in my opinion. Do not pay, do not stay. We are moving on, taking a unknown credit hit (gulp!), and starting over however the outcome or chips may fall… Yikes. SUPER stressed and a scared about the whole unknown as of now, the unknown future collection caller and karma…On the bright side, with this strategy at minimum can establish a positive rental history despite a ding on our credit report for years to come.. My child will now have plenty of food and comfort in sight and happier parents not so stressed out financially for anyone reading this in judgment! Good luck to anyone facing similar situations – we are in part victims of the lender and housing crash do not ever forget.

]]> By: Financial planning tips and Roth IRA conversion planning for those in their 30s and 40s » Chance Flavors of The Week - Superbowl Edition http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy/comment-page-1#comment-6789 Financial planning tips and Roth IRA conversion planning for those in their 30s and 40s » Chance Flavors of The Week - Superbowl Edition Sun, 03 Feb 2008 18:31:39 +0000 http://www.debtkid.com/after-foreclosure-guide-to-housing-it-aint-easy#comment-6789 [...] After Foreclosure Guide to Housing: It Ain’t Easy @ DebtKid What I don’t hear about so much is what’s happening to all the people involved in these loans gone bad. With thousands of family losing their homes…where are they ending up? [...] [...] After Foreclosure Guide to Housing: It Ain’t Easy @ DebtKid What I don’t hear about so much is what’s happening to all the people involved in these loans gone bad. With thousands of family losing their homes…where are they ending up? [...]

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