posted 2 years ago in Home
Post # 2
2182 posts
Buzzing bee
  • Wedding: November 2013

UnkAndWorried:  I’m so sorry you’re going through this! Foreclosure is scary and I know it seems so definitive. 

However, financial hardships are just a fact of life and your bank account and/or credit scores do NOT define you. Your decisions and who you are do. You have a daughter, you rebuilt yourself up from a hard divorce, you found someone else who was worth it and who you’ve gone through terrible times with and they WiLL make you stronger. There is no shame in any of this. 

i read your post and thought of the phoenix and how it must die and burn to ashes before it can live again… If you let it, this experience can be a rebirth for you and your family. ((Hugs))

Post # 3
1441 posts
Bumble bee
  • Wedding: September 2014

UnkAndWorried:  It depends on your state.  In some states, after the foreclosure / short sale they can come after you for the difference between the sale price and what you owe for the loan, and in others they can’t.  3-4 years as a rebound time is definitely not realistic – it will be at least 7-10.

Post # 5
636 posts
Busy bee
  • Wedding: May 2014

I work in foreclosure for a large mortgage servicer. I know all the ins and outs of the process and it really depends on state, since some have to go through the courts and others don’t and there’s a lot of loopholes. The taxes on the home if you stop paying them will be paid by the servicer (whoever you pay your payments to, this can be different than the lender), as will the hazard insurance. If the property is vacant, the servicer will also perform property maintenance, such as securing the property, lawn care, etc – depending. They will be doing property inspections once a month…. all of these things are charges to your account, which state depending might become apart of a judgment against you. This also depends on who’s handling the foreclosure. The timelines of this really, really depend on state- so if you’re comfortable, I can give you more insight if you private message me with more questions and your state. I’m surprised they won’t consider you for a short sale- this isn’t usually fully dependent on the income, but more so equity in the property. They will consider him if you did list him as a contributor to the house hold bills on your paperwork.

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