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I just found out my brother has moved in with his mother in law and is letting the house go. I talked to my sister last night and she is two months behind on her rent. They both live in Florida. My bf’s parents live in Ohio and are about to go bankrupt and possibly lose their house. This is really rough. I had a PM ready to go to Emerald last night to offer my grey tabby. Its too late for my brother, but with a well placed sale, I could probably save my sister. Everything is selling so low lately, though. Anyone else affected by this?
skigod377 wrote:I just found out my brother has moved in with his mother in law and is letting the house go. I talked to my sister last night and she is two months behind on her rent. They both live in Florida. My bf’s parents live in Ohio and are about to go bankrupt and possibly lose their house. This is really rough. I had a PM ready to go to Emerald last night to offer my grey tabby. Its too late for my brother, but with a well placed sale, I could probably save my sister. Everything is selling so low lately, though. Anyone else affected by this?
We rent a house in southern Cali, and just in the past 6 months, something like 6 or 7 houses on our street have emptied. There are foreclosures all over the place…it’s sad. We’re moving soon, and the people who own our house are going to be in serious trouble. They’ll be luck if they can fill it for half of what we’ve been paying in rent. I really feel pretty baddly for them… 🙁
"He that breaks a thing to find out what it is has left the path of wisdom."
-J R R TolkienThere is a new neighborhood very close to ours with million dollar homes. A lot of them are for sale now. It seems a lot of people took out what are called “sub-prime” mortgages. I don’t know much about it, but I guess with one of these, after X amount of time the payments go up a lot. The President and Congress are working on a deal that will freeze these mortgages for the next 5 years to try to stop all the foreclosures. I don’t know how this differs from a balloon mortgage. Maybe it’s the same thing with a different name. Anyway, my mortgage is fixed rate. You pay a bit more each month initially, but it never changes. It doesn’t go up or down. I really feel bad for all of these people. Our economy is not doing well right now.
Ski, I hope your brother and sister are okay….. 🙁
My brothers house is pretty much gone. I feel so bad for him cuz my sister in laws family is NUTS!! I wish I had the time to tell you, but you know how folks think Jerry Springer is staged cuz people cannot be that dumb and rediculous? Well… its not. Her family is a prime candidate for that show.
My sis worked out something with her mortgage company, but she wont have a phone for a while and will have to live really cheap for the next 3 months or so. I know it has to be hard on her. She is only about 2 house payments behind. I want to help her so bad but I dont know if she would accept. She probably would.
skigod377 wrote:My brothers house is pretty much gone. I feel so bad for him cuz my sister in laws family is NUTS!! I wish I had the time to tell you, but you know how folks think Jerry Springer is staged cuz people cannot be that dumb and rediculous? Well… its not. Her family is a prime candidate for that show.
My sis worked out something with her mortgage company, but she wont have a phone for a while and will have to live really cheap for the next 3 months or so. I know it has to be hard on her. She is only about 2 house payments behind. I want to help her so bad but I dont know if she would accept. She probably would.
I’m familiar with the area where your brother lives. My sister lives there too. In my opinion there are a lot of nutty people there. (No offense to anyone.) My sister is one of the nutty ones!!! 🙄
I’m going thru this right now. I lost my night differential pay a couple months ago of $360 a month and my first Mortgage jumped up about $320 a month so it’s about $700 a month I need to cover. I have to stop making BIG purchases. I have also been trying to do research for the winter and everything I have found says it’s going to be a mild winter on the West Coast and the is HORRIBLE news for me. I’m a dispatcher for the at&t and bad weather means the phones go out and we end up working 12-14 hours a day and mkae a LOT of money!
I have finally gotten a call on Thursday from my first morgage holder Chase about trying to refinanace or get the payments workable. I am workinG the Overtime they offered tomorrow and one 8 hour overtime day is about $250 so every little bit helps right now
I may not be around as often either since you all are such a bad influence on my checkbook! heheWOW, is all I can say, I feel bad for people when this happens, I have never gone through it, but have no idea what I would do if I did have to.
Trust me it’s not fun. I wish I had NEVER bought this condo. I should have waited and gotten one much cheaper and better now but who knew 2 years ago that it would be like this??
I work for a civil engineering firm that designs subdivisions. I’ve been sitting at home since thanksgiving, and will likely be stuck here until spring. Unemployment covers the bills, but it’s lousy timing with Melody clearing the racks of all of those treasures.
I hope nobody on the Forum is losing their house and Ski I hope you sister is able to keep her home. It is bad here in SE FL where I live a lot of people are losing their homes. I don’t have a mortgage on my house but the property tax and house insurance are high enough to make people here worry about making ends meet.
I am so glad I have been able to refinance. Otherwise things could get sticky for me in a hurry.
I hope that things work out for everyone else who are having problems.
DM, would it be feasible to sell your condo and get a cheaper place, or would you be taking a loss to sell it now? I seem to recall talking about this once before. I would definately refi, make very sure you pay all your CC on time and your house note…any delinquints could hurt alot, trust me.
Kyrin
Santa Maria is about 30 miles from where I live and it has the most forclosures on houses in California. Alot of buisnesses here are closing too. November and December are usually our best months in my store but sales have been the lowest I’ve seen. Things are hard all over.
I am just wondering when it will end. Now if def the time to buy, though. I wish I could afford two house payments, I would snatch up a house right now. One is enough, though. If it went unrented for a while, im afraid I would be in the same boat as my brother and sis. I just feel bad because they both had just bought their houses in the last few years and are losing them already.
I know DM has had problems with his condo for a while. He wanted to move but would take a loss.
My brother tried to refinance but his payment ended up being higher! He apparently took a loan on the equity to pay of CC bills but now cant afford the payment. He quit his job to get his 401K to make payments, but now that is gone and he is out of a job to boot. Thats a deep hole and I only hope he finds a job soon. Neither he or his wife are working now.
I’ve seen alot of the houses in my development for sale in the past two years. I’ve only been here 5 years and have had the house right next door to me sell 3 times. To be honest I hope it gets sold again because I can’t stand the people who live there now. I almost refinanced to an adjustable rate mortgage back when my husband had to quit his job and we were applying for disability. Thank god I didn’t do it because I’m sure we would have lost the house. We where so sunk in medical debt that no one would give us a fixed rate loan.
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