I need help saving my home. I lost my job after returning to work from medical leave. I am almost $15,000 behind and want to save my home- I have no where for me and my daughter to go, and no money to leave and only 2 weeks to come up with a solution.
2006-12-19 08:04:28 · 4 answers · asked by n_need_of_help 1 in Business & Finance ➔ Personal Finance
How much do you want for your home and where is it?
I will sell it back to you after a year.
2006-12-19 08:56:32 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Have you discussed your situation with your bank? Sometimes they are willing to work something out if you are truly trying to get caught up.
Next up. Get rid of all drains on your budget. If you are paying for something you can do without then get rid of it. Get draconian. Clamp down hard and you can always ease up later. Are you eating out? No more. Big waste of money. Paying for cable? No more. You can live without seeing TV but you can't live without a place to stay. Do you have lots of options on your phone? Go with the most basic service you can find? How much do you spend on clothes? Can you eliminate that? Really. Wear the clothes you bought last year this year. They are still clothes but the fashion might be a bit out of style. So what, you have a house. You have a place of stability. You need to do whatever you can to preserve it. Go over your budget and stop any little leaks that are killing you.
Plug up other leaks like credit cards. Stop building up the credit and do some research to find cards with better interest rates. The goal is to get the credit to a manageable level.
Finally, find a financial consultant and get an honest and probably brutal appraisal of your situation. That person can probably come up with more ideas to help you. Whatever you do, try to keep bankruptcy as a final option. It is an option but it is the nuclear option in the financial world. Use only when all other options fail.
ALSO!!!!!!!!!!!!!!! Beware of scam artists. You have told your plight and now they are circling. When the fox hears the rabbit scream he comes a-runnin'... but not to help.
2006-12-19 08:14:59 · answer #2 · answered by A.Mercer 7 · 0⤊ 0⤋
The only thing you can do now to save your home is come up with the money or file bankruptcy. They can restructure your bills and you can keep your home. But you must have a job!!
2006-12-19 08:08:56 · answer #3 · answered by Alisha B 1 · 0⤊ 0⤋
Are you serious?
Try contacting the broker who got you a mortgage you couldn't afford and ask them for options.
You can't even sell it because the prices have dropped.
2006-12-19 08:53:28 · answer #4 · answered by Anonymous · 0⤊ 0⤋