Wednesday, May 12, 2010

Paper in the Mail

A few days ago, I received that date of sale notice from the bank for my home. Yes, my heart must have skipped 10 beats! I immediately contacted my rep who assured me they can prevent the sale of my home as long as the modification process is still active. My thing is, the bank itself said I do not qualify for any of their programs, including their in-house program. So, I'm just wondering what more can be done.

No, I don't want to loose my house, but it gets hard "hanging in there" holding my breath, wondering whether or not I will have to find a place to live for my family. There's a lot to consider with such a move in today's economy. I will admit, should I loose the house, a large part of me would be relieved because, at this point, I owe so much on the house. I don't like that kind of debt. I've lost jobs twice which has significant contribution to my current financial situation. Each job admitted it was not due to anything I had done wrong. "It wasn't personal." I really do not want to go back in to the work force for fear of that happening again.

In a nutshell, I wish this thing would go one way or the other once and for all. If the mod. goes through, I can handle the monthly payments that they have me set for. If I should have to move, I'm thinking rent for a 3 bedroom would be about the same if not a little more. So either way, I believe I can handle the monthly payment. However, if have to move, finding a place would be a major issue. These days, landlords, understandably so, require a good credit score. With a modification, I'm not sure what my credit score would look like, therefore, influencing my chances of finding a place to live.

Happy thoughts and prayers!'s not over yet! :-D