life help: I have worked hard and been financially responsible all of my life.

attitudeiseverything

Cape Coral, FL, US

I have worked hard and been financially responsible all of my life.

2.5 years ago I bought a home I could easily afford. However, my company Northwest Airlines forced us to take a 40% paycut(managers and Ceo got huge bonuses???when we came out of bankruptcy that was used to strip our contracts) I have juggled my finances since this time, tried to sell the house, and the market died, took on a roommate, worked a 2nd job, debt accumulated–everything is maxed out, and found out recently my payment is going up due to an escrow shortage….I am tired of the financial juggling, I know I can no longer afford this home—I am scared to death at this stage in my life to lose my good credit–however, I know I will have to foreclose on the house. It is too stressful. I need to know has anyone been thru this in Florida? Do I get an attorney? What type of attorney? How long can I stay in my home without making payments? Anything else I need to know??? Any good suggestions? I know I cannot refinance at my current salary-I have tried everything to not do this!!! HELP–the stress and depression is incapacitating!

This open post was written 8 months, 3 weeks ago | V/U/S: 407, 9, 2 | Edit Post | Leave a reply | Report Post

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Since writing this post attitudeiseverything may have helped people, but has not within the last 4 days. attitudeiseverything is a verified member, has been around for 8 months, 3 weeks and has 1 posts and 12 replies to their name.

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Florida, death, Northwest Airlines, Contract, Airline, life, Juggling, Attorney at law, house, debt, financial, Foreclosure, attorney (How Tags Affect Reciprocity)

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Anonymous #
8 months, 3 weeks ago (16 minutes after post)

Hold on a sec…

attitudeiseverything 0 #
Cape Coral, FL, US | 8 months, 3 weeks ago (19 minutes after post)

I am in Cape Coral, Florida

Anonymous #
8 months, 3 weeks ago (23 minutes after post)

You can try the links suggested here in an older post

http://help.com/post/102363-anyone-ou…

And this hotline will put you in touch with a local organization

http://www.995hope.org/

Most of these programs have recently started because there are so many people in your situation…my only other suggestion is to sell stuff. Anything: your sofa, electronics, rugs www.craigslist.org is a quick way to get buyers. You could also take your clothes to a consignment shop and get cash for them.

You took great strides to hold on but you know when your back is against the wall…look into being allowed a ’short sell’ by your lender and investigate tax issues related to that. Good luck!

attitudeiseverything 0 #
Cape Coral, FL, US | 8 months, 3 weeks ago (27 minutes after post)

THANK YOU—I will check this out—just knowing what direction I am going in helps! And I am not opposed to selling things, even though it will not help me keep my house….40% paycut is a whopper and hard to recover from….

Anonymous #
8 months, 3 weeks ago (32 minutes after post)

I listen to business news and read the news paper daily, so I come across these answers and organizations all the time. If you did a search on this site for ‘foreclosure’ you would realize there are many in the same boat. Good luck again.

One other thought, it may be late to check: can you check with your unemployment office to see if you can qualify for funds due to the pay cut? I know many states offer it for hours being cut, so it is worth calling…
I think this department of labor link is what you need https://www.employflorida.com/

attitudeiseverything 0 #
Cape Coral, FL, US | 8 months, 3 weeks ago (47 minutes after post)

Thank you–i will do that!

gimli 8 #
Marietta, GA, US | 8 months, 3 weeks ago (8 hours, 5 minutes after post)

I would call your bank and see what they are willing to do. I know that there are people in my area who haven’t made mortgage payments in over a year. Some of the banks are really reluctant to go into foreclosure now…Call them and find out if you have options. They want your money way more than they want your house right now!

Help me with: CBS is going to buy CNET.

attitudeiseverything 0 #
Cape Coral, FL, US | 8 months, 3 weeks ago (15 hours, 1 minute after post)

I have called them and since this is not a “temporary” situation they suggested a short sale….I have a 40% paycut since I bought the house AND taxes AND insurance(because of hurricanes) have gone up significantly…I have done alot of financial juggling, working as much as possible, paying off debt and then accumulating debt–it is a nightmare if something goes wrong with the house. I agree that they probably do not want the house back in this market–they would have to make an unlikely offer(100 yr mortgage–maybe?) in order for this to work with this 40% paycut—so, this is what I need to know– has anyone been thru this in Florida? Do I get an attorney? What type of attorney? How long can I stay in my home without making payments? Anything else I need to know?? THANK YOU-THANK YOU-THANK YOU for your input!

attitudeiseverything 0 #
Cape Coral, FL, US | 8 months, 3 weeks ago (15 hours, 9 minutes after post)

Also, I did have 50,000. down, and I did take out an equity line in an effort to pay off some debt–thinking that would ease the $$ pressure–I think the 40% paycut was just the beginning of the end–and I really thought I picked an area where it would sell fast if I needed to sell the place, and I also tried that—the market died and there were so many spec homes in the area,so now I will try to do the short sell thing —the value of homes are plummeting, my house is now worth what I paid for it—that is good, however how long will it be worth that? UGH—this is an ugly situation….one I never thought I would be in….it is just a house though and I can be happy anywhere…its just a matter of getting thru this sad part of having to give it back most likely.

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I have worked hard and been financially responsible all of my life.

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