Posted on: 26th May, 2009 07:55 pm
and I don't even Qualify for unemployment until I am able to work. I will be unable to work for at least 5 months our only income is my wife's the mortgage company lowerd our payment for 6 months but it is still to high it takes 50% of her income .we are not late on any payments yet but we are running out of money I had to write 2 hardship letters just to get them to lower my intrest to 5.8% and if I am a day late the deal is off I owe 15,000 more than the house is worth due to the housing market. even when an if I can go back to work it will be at least $20.000 a year less than I was making we were thinking of renting a apartment before we were late on any bills and out of money and filing chapter 13 and letting the house go. I do not know what else to do I live in Kansas I have heard about turning over the title to the mortgage co. but I do not think they are very understanding. any suggestions
Have you looked at renting the house and see if it will help to cover the mortgae or may be close to covering it.
You can probably rent a small aprtment while you recover and get look for job.
You can probably rent a small aprtment while you recover and get look for job.
The mortgage has a no rent clause in it I found out and the house next door has been empty for 3 months and they rent it for $900 less a month than my house payment would be and it is basicly the same house.
thank you good idea but my payment is too high
thank you good idea but my payment is too high
In this recession time you have to always think of second income.
And as you mentioned you have loose your job so you can rent the house as everyone is suggesting you.
And as you mentioned you have loose your job so you can rent the house as everyone is suggesting you.
Larry Partnoy sorry that you are in this situation.
Fell free to ask any questions.
Fell free to ask any questions.