deed in lieu, short sales, and salsa…oh my

Posted in short sale by debt kid on the March 15th, 2007

Thanks for all the positive comments as of late. I appreciate them, its good to hear some reinforcement that what I am trying to do seems to be the right track according to others. Not that I base all my actions on what others think, but you know what I mean.

Meeting with the consumer credit counseling lady

This was good and bad. Good because she gave me some good tips about dealing with the mortgage companies in trying to get a short sale or other arrangement worked out. Bad because I was late, and apparently I set up only a housing appointment, so we didn’t get to set up a debt management plan for my other personal debts. We did a budget (very quickly…I was late), that I will maybe put online somewhere if I have time this weekend. I have another appt. next week to look at setting up the DMP. It doesn’t sound like it would actually reduce my payments, but it would allow me to pay off the debt much, much faster.

This is all assuming I don’t declare bankrupcy (which the counselor brought up…). I still don’t want to go this route, unless I absolutely have too.

Short Sale Agent

I am meeting with a short sale real estate agent specialist tomorrow (well, today now, as I’m up late working) morning. Should be interesting. I’d like to sell/get out of the house by July’ish. Maybe even June if possible. From what we talked about, it seems like getting bank approval will be the most difficult part (in 3-4 months it may be easier, in the pre-foreclosure process, but I am not that far behind yet).

Back to boring, tedious, but important work…

Ohh…the salsa (in the title). I just had some chips and salsa…it should be an interesting night for my dreams!

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I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid

3 Responses to 'deed in lieu, short sales, and salsa…oh my'

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  1. defib said,

    on March 15th, 2007 at 7:24 am

    I’ll be checking this blog regularly–it’s a great contrast to the story going on over at Casey Serin’s blog. Good luck with what you’re attempting. As others have said, the biggest asset you have is that you’re relatively young. You can put this behind you one way or another, learn from the mistakes, and have a great life yet–you have the time to do that.

  2. PMSPMS said,

    on March 18th, 2007 at 6:57 am

    Dude,

    Being late for an appointment to sort this financial mess out is not good. I know your answer will be “I was making money” but these appointments may means saving a whole lot of future pain that’s worth a lot more in future dollars than selling a few ad packs.

    Apart from that - great blog and please keep it going!

    PMSPMS

  3. Leigh Ann said,

    on March 18th, 2007 at 11:01 am

    The credit counselor will tell you what they suggest.

    If bancruptcy is the only way to go, then go with it.

    It won’t make you a bad person. You just got into a situation that only bancruptcy can fix.

    It will all be ok.

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