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!
__________________ Jolene Mommy to 3 beautiful boys
MY PERSONAL CHALLENGES Debt Reduction Challenge: /6,000
I don't have any great advice but I know someone will.
Greebo and you others get in here!
Do you have anything you can sell to get the $ you need? I'm not sure but I do not think you can refi through a differrent bank if you are behind. Also a refi takes some time.
__________________ Mick
Pay yourself first! Your so worth it! Even if it is only a tiny bit to start. Your peace of mind will thank you!
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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?
__________________
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels. WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
Three Two mortgages, twoone no car loans, one no credit cards, and a partridge in pear tree!
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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
__________________ Jolene Mommy to 3 beautiful boys
MY PERSONAL CHALLENGES Debt Reduction Challenge: /6,000
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?
__________________
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels. WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
Three Two mortgages, twoone no car loans, one no credit cards, and a partridge in pear tree!
The Following 2 Users Say Thank You to Greebo For This Useful Post:
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!
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?!
__________________ Jolene Mommy to 3 beautiful boys
MY PERSONAL CHALLENGES Debt Reduction Challenge: /6,000
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!!!
__________________ Mary Carney Working the night shift 'cause they never have meetings at 3am!
DD Sarah 29
DD Rosanne 26
DS Benjamin 16
DD Kathleen 14
Married to David since 1975
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I dont "BLOW" money.
...
We do eat out alot (BLECK)
Um... do you see a contradiction here?
Quote:
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.
Quote:
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...
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.
__________________
If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels. WARNING: Y Chromosome behind the keyboard. Adjust your listening filters appropriately!
Three Two mortgages, twoone no car loans, one no credit cards, and a partridge in pear tree!
The Following 2 Users Say Thank You to Greebo For This Useful Post:
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?
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Oh, and here is another idea for eating out. I have started carrying an "anti-McDonald's" box of crackers in the car. So far it has kept the Mickey Dee Demon away.
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?
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Need help asap!!!!!
Mick
~*April*~ 
Gretta
Raziel
Murdock, Shiva, Tequilia, Princess Allura, Hammer 
Mary Carney 
Working the night shift 'cause they never have meetings at 3am! 
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