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11K views 70 replies 31 participants last post by  NikoSan999 
#1 ·
HI EVERYONE! I need advice ASAP! Im sooo behind on our mortgage!!! I am behind $3, 470. I need to come up with $2,300 to gain some time so my house dont fall into forclosure...ASAP! I need some help! Here are the stats...Im on maternity leave and my pay has severly dropped to $125 a week or less. Not really sure..as I just recieved my last paycheck and just went on leave. Havent had the baby yet...he comes on the 18th! Anyways...WOndering if anyone has any good ideas on what to do? Anyone ever been in this situation? Could I refianance thru a different bank? ANYTHING PLEASSE HELP US!
I tried a loan modification and Im not elligable! IDK what to do please help!
 
#3 ·
I don't know how much help I can be. Standing in front of an avalanche only gets one crushed...

But - ok - what sources of income do you have? Where is the father of the baby?
What is your total household income?
What is the cost of your mortgage, balance of your mortgage and value of the house?
What is your budget?

No you can't refinance if you're behind - the lenders will run screaming from you.

How did you end up in this situation? I assume the pregnancy didn't sneak up on you and that you knew you were going to be on maternity leave...what plans did you put into place in the last 7 months or so to prepare for this?
 
#4 ·
Income will now only be $1200 a month. Father of baby lives with me...we have 3 other children. IDK how I got so far behid. DIdnt want any of my other bills to shut off I suppose so paid them instead! YIKES!
Mortgage is $552 per month....house is ONLY valued at $38,000
 
#5 ·
You don't have a written budget, am I right?

DH needs a 2nd job right now.
Stuff needs to be sold, right now.

You need to be on a written budget, RIGHT NOW.

I don't know if you're keeping this house or not - but you have a chance if you get caught up, and the foreclosure SHOULD have a redemption period - a time where you can get caught up.

Your priorities are:
1) FEED YOUR FAMILY
2) Utilities, transportation (gas/insurance NOT CAR PAYMENT), basic clothing
3) GET CURRENT
-----
93) Anything not on 1, 2 or 3.

You need to get your money under control or you are going to continue to go from crisis to crisis. You need to sit down and figure out for a given month how much you spend now, how much you must spend, and what you can cut.

What other debt do you have?
 
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#6 ·
My advice is to let the other bills in your house go for this month and then you can get back on track next month. That should get you some extra time by paying partial mortgage payment. Also do you have any family that you could borrow from? Friends? Go to your local churches/Salvation Army and ask for help. What about help from the state? Where I am at there is a office in the HUD office building that gives emergency grants to you if you have an emergency such as yours. They will make a few calls and cut you a check right then and there. The name changes from city to city tho, I can't think of what it is actually called here. But the HUD office should be able to refer you. Good luck!
 
#8 ·
Well I can for sure tell all that I dont "BLOW" money. It all goes to some sort of bill or need. We do eat out alot (BLECK) we both work 3rd shift so we eat out quite a bit which is sooo much easier when so tired and on the wrong schedule! I will have to call the Hud office and ask about the loan? What would I ask about? No friends or family to borrow from..We are not elligable for any state help

And Greebo....,my priorities do include a vehicle payment of $300 a month. We are almost paid up on it...we should be in March. Its the only vehicle we have...how do I start making a Budget.
How do I sell stuff? Ive had 3 yard sales and no success with any of them?!
 
#11 ·
I dont "BLOW" money.
...
We do eat out alot (BLECK)
Um... do you see a contradiction here?

we both work 3rd shift so we eat out quite a bit which is sooo much easier when so tired and on the wrong schedule!
You grocery shop now, you prepare all your family's meals, and you do so as cheaply as you can.

And Greebo....,my priorities do include a vehicle payment of $300 a month. We are almost paid up on it...we should be in March. Its the only vehicle we have...
What is the vehicle, what is it worth, and what do you owe on it?

I don't care about monthly payments - and neither should you. If it has a payment attached, you can't afford it. PERIOD. (Ok house excepted maybe). The only reason I even am caring about your car right now is because you think you should be paid off by march...

how do I start making a Budget.
how do I start making a Budget

How do I sell stuff? Ive had 3 yard sales and no success with any of them?!
http://www.craigslist.com

To start your budget, you need to make a list of everything you spend money on, and you need to prioritize that list - sort it by order of importance.

Your TOP FIVE items are, IN this order:
1) Food
2) Clothing - Essential
3) Utilities
4) Transportation
5) Housing
... other expenses
LAST) Any consumer debt payments

Right now until you're caught up on the mortgage (#5), EVERYTHING ELSE gets put on hold --- maybe except the car...we'll see.

Once you make that list, you write next to it how much you have to spend to keep current. Food means beans and rice. Clothing is from the salvation army. Utilities is lights heat and water. No A/C? Open a window and get a hand held fan. Transportation is gas for the car but it MIGHT be fare for the bus, we'll see.

Once you write down what you have to spend, you go to the top and start with how much money you have coming in - your income. Next to food you deduct what you have to spend on food from your income. Then move on to clothing, do the same.

When you get to 0 - you stop and draw a line. Everything below the line doesn't get paid.

Thats how you start.

Right now, your money is out of control. You don't know where it's going - I know this because you don't have a budget.

A budget is a way of making your money sit up and beg. Every single dollar should be accounted for on your budget, and the budget makes every dollar sit up and ask permission to leave before it walks away.

Understand this - money is the perfect slave. Money seeks a master. Money will get up and walk away from you if you don't treat it like a slave, and it will go to people who do.

Get firm with your money, and your money will love you, hug you, and take you for long walks in your retirement years.

Be easy with your money and it'll run off with the gal next door.
 
#9 ·
do you have craigslist.org in your area? eBay? Sell, sell, sell.

but first, go back and read what Greebo posted. Then, read it again.

You need a budget. go to www.daveramsey.com where you can download an easy form to just plug in numbers.
 
#10 ·
You sound so frightened!!! Sit down with your husband TONIGHT, have a pad and paper and write down EVERYTHING you owe, etc. You can't shoot the enemy until you can see him, and this debt is your enemy.

As far as eating out because you work third shift, I have four kids, have always worked third shift, and manage to put a homecooked meal on the table nearly every night (we eat out maybe twice a month, and it's PLANNED)

If you have credit card debt, stop paying on it until your mortgage situation is cleared up. No sense being on the 'good list' with VISA when you're homeless with 4 kids!!!
 
#12 ·
How prepared are you for the baby? Check Freecycle for clothes etc. Also, when you are working shifts and can't cook, buy convience foods. Right now if you aren't working you should be able to do a lot of crockpot meals but also look into AngelFood Ministries. There are a lot of mixed feelings around here about them, but I think they can be very helpful when you are rushed for time.
Do you qualify for WIC? There are calculators which will tell you what kind of assistance you qualify for.
Yes, DH needs to get a 2nd job and you need to see what you can do from home. Even an extra child or two afterschool would be a big help.
How long is the maternity leave?
 
#14 ·
I am so sorry to hear your problems. I don't have any advice but good luck!
 
#15 ·
I agree with everything Greebo said. . . in the meantime, so other things to look at doing:

Stop all subscriptions -- newspapers, magazines, etc. Sometimes they'll refund some of your money.

Unplug nearly everything -- TV, computer printers, etc. . . only plug in, when actually in use. And use VERY little.

Can your dh sell plasma? It won't get enough to save your house, but added with some of the other ideas, might be enough to satisfy the bank.

You have eat healthy, because of the baby -- but that doesn't mean you have to eat expensive. Watch portion sizes, food waste, etc. . . and now that you're not working, nix eating out altogether. Have you checked into WIC? Food stamps?
 
#17 ·
use a crockpot

go to a food bank (if your losing your house you need it)

clothes / anything you need for baby - go to a church, ask the food bank, only buy used

sell everything you can (only if it means you can keep your house)

my honest opinion it appears your mtg is almost 50% of your pay .. can you really do that??
 
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#18 ·
Have you tried to contact your bank? Working for a bank and knowing people (including my DH) who works in the mortgage dept. Your bank would rather work with you then go through the LONG processes of a foreclosure. There is alot of time and cost that goes into this. I will say it again...YOU NEED TO CONTACT YOUR BANK!!

Please listen to what has been said here and you should be okay.

Dawn

Good luck to you and your family.
 
#19 ·
This is just some general advice, that when I started taking it, made all the difference in my life.

Open your mail EVERY day and keep a running total of bills due.

Keep track of where you spend every penny. EVERY PENNY.

Eat all that stuff you bought to "try out" that's lurking in the back of your cupboards. Don't eat out until it's gone.

Right now (probably even pregnant) you own more clothes than the average person in Victorian England owned in their entire life. Pretend all the stores within 150 miles of you closed down. What do you really need to "go to the store" for?

Figure out 3 meals that you and your family love, that you can throw together in 20 minutes. (My family is addicted to salad with chopped up chicken strips) This is your fall back plan for.. too tired, too busy, gotta be somewhere in..

If necessary make soup, freeze soup, thaw/heat soup in microwave for instant dinner.
 
#20 ·
Totally agree with what the others have said. You can do this with just a bit of determination. No more eating out, esp. now that you are not working. Track every penny of where your money is going. Sell, sell, sell! Babysit, petsit, housesit, anything you can do to earn some extra cash!
 
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#21 ·
THANKS EVERYONE! Im sorry it has taken me so long to respond I was busy this afternoon cleaning my home in search of things to sell!
I have talked to my bank...I have to come up with $2300 to buy some time with forclosure. TOMARRO...I need to type up a letter of financial hardship. I have to fax the bank with my income and then see about a loan modification (which apparently takes FOREVER), they also told me that my forclosure WOULD NOT be put on hold while they figured out if I was elligable for a loan modification?
I am def ready and prepared for baby to arrive. The only thing I am a little worried about is diapers. I have 2 pkgs now and hopefully will beable to get another before the baby is born. I will be breastfeeding...and if that dont turn out right I have Wic. Which I am elligable for! WHEW! I have everything else that I can think of for baby! I am fully stocked on weeks and weeks worth of wipes!
I will go down town tomarro and post signs up about babysitting. School is starting so maby I will get some calls. (PRAY I DO)
I dont buy clothes so thats not a problem! Everyone here is all set for clothes...and if we arent we have a local shop that gives free clothing thru our church that is open 2 days a week!
I am also going to go thru and roll ALL change that is laying around and turn it in to the bank! I have a few bags of clothes from my older boys that I will be taking to a consignment shop a few towns away! I did save the really nice ones to sell on ebay (WISH ME LOTS OF LUCK)!!!!!!!
I am also headed to the local food bank tomarro!
Now...about the Catholic churches and the salvation armys? How do I get ahold of them? We live in a very small town...I know for a fact that in the churches nobody occupys them only on sundays and whenever their night studies are? As for salvation armys...we have one (that is the local foodbank) or do I go to the clothing shop? Not really sure where to call? Maby my local Wic office knows? They seem to have pointed me to the food bank!
I will get my budget together and get back on here and post it. THANKS
 
#22 ·
I am sorry you are going through this!

I have lived this fear of losing my home; and it is very scary;

But from what you have posted it appears you are 6 months late if I am doing my math correct? and reading right; 552 a month times 6 = 3,112.00 assuming a 10% late fee that would put you at about $3,426.00 owed almost exactly what you owe?

The laws vary by state for foreclosure; but unless you were in bankruptcy you would have received notices at or before 3 months of non payment with notice of intent to foreclose?

Every state has different foreclosure laws; research them.....

And contact legal aid and HUD; there are new avenues for those facing forclosure...
 
#23 ·
OK...here is my Budget

RIGHT NOW I HAVE ON HAND:

$100 in paypal which I just got transferred to checking account
$563
total of:
$663

$560 will be going to mortgage company ASAP!!!!!!!!!!!
$100 left

1-FOOD
2-ELECTRIC/WATER BILL ($100)
3-VAN PAYMENT $300
4-VEHICLE GAS $100
5-CAR INSURANCE $200 (THIS CAN NEVER BE LATE OR THEY CANCEL)
6-Mortgage??
7-GAS BILL-$100 or more (we use this to heat in winter and cook w)
We could have it shut off if we HAD TO as we also have electric heating..but what would we cook with?
8-Internet/phone bill $100

Hubby gets paid $650 on the 16th. This will be going to:

CAR INSURANCE
GAS FOR VEHICLE
VAN PAYMENT

So I am at ZERO!! Not sure when my next paycheck comes in but it wont be only MABY $125. ???
 
#27 ·
You're far enough behind, it may be too late unless you can pay the amount they're asking, and you clearly cannot.

Find out if it will buy you more time or not before you pay them. If not, DO NOT pay them. If there is any doubt, DO NOT pay them.

Do not just hand over $560 to them if it won't stop them from proceeding.
 
#32 ·
I really want to keep this house. Do u think they would still go thru even though I send a full payment and make it look like Im trying to pay? IDK...I could see if I was making no payments at all. And if I dont send anything until I am able to send $2300 wouldnt it look like I am not trying to pay on it? Soooo confused! I know it will be FOREVER until I can come up with the $2300?!

Did u look at my budget I posted earlier? Any advice?
 
#28 ·
To get through the week so I don't hit the drive thru or order pizza I cook on my days off meals for the week because I'm realistic with myself and know I just can't do it during the week. Eating out is very expensive and adds up so fast. As for diapers, go cloth. You can make your own baby wipes with paper towels and baby wash.

Now for the hard part. You may have to give up on your house. It will be hard but it won't be the end of the world. Take every hardship from this and learn so it doesn't get repeated.
 
#29 ·
Why do you have weeks and weeks of wipes? Can you return some of them? If you have a washer you should be using cloth diapers and wipes.
I agree with not paying the mortgage until you can make the whole payment or it looks like you can. It would free up some options...for example. Have $1000 so you can buy beater car, sell the van, use money from van to pay of the rest of the loan and put towards the mortgage.
Is that insurance amount for one month or for three/six months? That will also be reduced if you have a beater car. If the payments will be over in March, you shouldn't be upside down on the loan. Even if you break even, the loss of a car payment and lowering of the insurance would make a big difference. Think ..at least $350 extra a month.
You should qualify for WIC even if you breastfeed. It will be coupons for things like you get while you are pregnant...nutritious food to keep your milk supply up.
 
#31 ·
I have loads of wipes becuase I got them FREE with coupons! I also have a one yr old who I still need wipes for so no I wont return them!
 
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