Posted on: 20th Jul, 2010 01:19 pm
IF AT ALL POSSIBLE, Cou.d you direct this to Bg0427?
QUESTION: How to get bank to accept DIL with no deficiency judgment? ISSUES: Sept 07, lost great job of 22yrs when 3 intestinal operations left me disabled; received State disability pension & private disability benefits but still hoped could recover/go back to work-many drs., nothing helped & am permanently disabled. [Finally applied for SS dis 2010-pending;] 08-lost all savings in investments-unable to maintain house adequately.
Son, age 20, able to grocery shop/other physical tasks I'm unable to do, but struggling hard to overcome OCD/germaphobia-in denial/won't accept treatmment, unable to hold, even apply for job. Nov. 09-son & I fell very ill from roof leak/toxic/multiple molds. Dr.advised "leave home immediately, take nothing with you or you'll need hospitalization."
Stayed several months in hotel (son slep in car! OCD problem with contaminated beds) Homeowners Ins Claim: public adjuster took 1/2 - amount left helped with "living out of home" expenses, but only about $1500 is left for estimated minimum $60K in repairs to gut, repair and reroof house, clean pool. Paid mortgage (refi in '05 required no PMI and no escrow; paid taxes, insurance myself.)
PRESENT STATUS: Once we found rental condo, was unable both rent and mortgage; taxes of $1800 for 2009 delinquent since 5/31, BUT I MANAGED TO BORROW MONEY TO PAY 1st installment of HOMEOWNERS' INSURANCE ($3500 total till July 2011-pd. 1st payment of approx. $1000). Have very little furniture, owe low interest credit cards, but total=over $20,000. PLEASE DON'T SUGGEST BANKRUPTCY.
WE CANNOT RETURN TO HOUSE EVEN IF TOTALLY REPAIRED, BUT WE COULD RENT IT. HAVE TRIED MANY PUBLIC/PRIVATE PROGRAMS FOR ASSISTANCE, BUT MUST LIVE IN HOUSE TO QUALIFY. INTEREST ONLY MORTGAGE PAYMENTS ARE ONLY $810/MO., but don't think I can make the 2nd quarter homeowners' insurance Sept. 30, nor the delinquent taxes with interest from May 31st.
BANK HAS TRIED TO CONTACT ME SEVERAL TIMES-BUT AFTER THEY MADE A JOKE OF WHAT WE'VE BEEN GOING THROUGH, I JUST COULDN'T TALK TO THEM. THEY REACHED ME ONCE AND GAVE THEM NO NEW INFORMATION AS TO TELEPHONE, ADDRESS.
I accidentally answered their phone call once, explained why I wouldn't be talking to them. But recently, found out they are letting people stay in the house for 6 months free if they maintain it, which doesn't apply to me. I TRIED, I DIDN'T WALK AWAY BECAUSE I COULDN'T PAY THE MORTGAGE, BUT BECAUSE OF SERIOUS HEALTH PROBLEMS, AND I WOULD NEVER RENT TO ANOTHER PERSON UNTIL IT WAS LIVVABLE.
Otherwise, house is in secure community, prime area for the neighborhood it is located in. Don't thinkI could handletthe detailsof a short sale but if a Realtor discloses, as they must by law, that there is a mold issue, what's the use of advertising? EVERYONE IS TLLING ME TO JUST WALK AWAY BUT I CAN'T, NOT BECAUSE OF CREDIT, BUT BECAUSE I FEEL ITS NOT RIGHT.
PLEASE HELP! I AM WILLING TO TALK TO THE BANK IF THEY WOULD ACCEPT A DIL. PLEASE, PLEASE, DON'T REFER ME TO AN ATTORNEY WHO WILL EITHER STRONGY SUGGEST BANKRUPCY, SHORT SALE (IMPOSSIBLE, CANNOT PAY TO EVEN CLEAN OUT ALL MY FURNITURE AND PERSONAL EFFECTS, NOR THE GARAGE FULL OF MEMORIES).
PLEASE PROVIDE THE BEST ADVICE YOU LEGALLY CAN, THIS IS KILLING MYSELF AND MY SON!! I AWAIT YOUR RESPONSE WITH GREAT HOPE....NOTE: Please keep this information confidential and THANK YOU! Again, please forward this to Bg0427 AS SOON AS POSSIBLE!
QUESTION: How to get bank to accept DIL with no deficiency judgment? ISSUES: Sept 07, lost great job of 22yrs when 3 intestinal operations left me disabled; received State disability pension & private disability benefits but still hoped could recover/go back to work-many drs., nothing helped & am permanently disabled. [Finally applied for SS dis 2010-pending;] 08-lost all savings in investments-unable to maintain house adequately.
Son, age 20, able to grocery shop/other physical tasks I'm unable to do, but struggling hard to overcome OCD/germaphobia-in denial/won't accept treatmment, unable to hold, even apply for job. Nov. 09-son & I fell very ill from roof leak/toxic/multiple molds. Dr.advised "leave home immediately, take nothing with you or you'll need hospitalization."
Stayed several months in hotel (son slep in car! OCD problem with contaminated beds) Homeowners Ins Claim: public adjuster took 1/2 - amount left helped with "living out of home" expenses, but only about $1500 is left for estimated minimum $60K in repairs to gut, repair and reroof house, clean pool. Paid mortgage (refi in '05 required no PMI and no escrow; paid taxes, insurance myself.)
PRESENT STATUS: Once we found rental condo, was unable both rent and mortgage; taxes of $1800 for 2009 delinquent since 5/31, BUT I MANAGED TO BORROW MONEY TO PAY 1st installment of HOMEOWNERS' INSURANCE ($3500 total till July 2011-pd. 1st payment of approx. $1000). Have very little furniture, owe low interest credit cards, but total=over $20,000. PLEASE DON'T SUGGEST BANKRUPTCY.
WE CANNOT RETURN TO HOUSE EVEN IF TOTALLY REPAIRED, BUT WE COULD RENT IT. HAVE TRIED MANY PUBLIC/PRIVATE PROGRAMS FOR ASSISTANCE, BUT MUST LIVE IN HOUSE TO QUALIFY. INTEREST ONLY MORTGAGE PAYMENTS ARE ONLY $810/MO., but don't think I can make the 2nd quarter homeowners' insurance Sept. 30, nor the delinquent taxes with interest from May 31st.
BANK HAS TRIED TO CONTACT ME SEVERAL TIMES-BUT AFTER THEY MADE A JOKE OF WHAT WE'VE BEEN GOING THROUGH, I JUST COULDN'T TALK TO THEM. THEY REACHED ME ONCE AND GAVE THEM NO NEW INFORMATION AS TO TELEPHONE, ADDRESS.
I accidentally answered their phone call once, explained why I wouldn't be talking to them. But recently, found out they are letting people stay in the house for 6 months free if they maintain it, which doesn't apply to me. I TRIED, I DIDN'T WALK AWAY BECAUSE I COULDN'T PAY THE MORTGAGE, BUT BECAUSE OF SERIOUS HEALTH PROBLEMS, AND I WOULD NEVER RENT TO ANOTHER PERSON UNTIL IT WAS LIVVABLE.
Otherwise, house is in secure community, prime area for the neighborhood it is located in. Don't thinkI could handletthe detailsof a short sale but if a Realtor discloses, as they must by law, that there is a mold issue, what's the use of advertising? EVERYONE IS TLLING ME TO JUST WALK AWAY BUT I CAN'T, NOT BECAUSE OF CREDIT, BUT BECAUSE I FEEL ITS NOT RIGHT.
PLEASE HELP! I AM WILLING TO TALK TO THE BANK IF THEY WOULD ACCEPT A DIL. PLEASE, PLEASE, DON'T REFER ME TO AN ATTORNEY WHO WILL EITHER STRONGY SUGGEST BANKRUPCY, SHORT SALE (IMPOSSIBLE, CANNOT PAY TO EVEN CLEAN OUT ALL MY FURNITURE AND PERSONAL EFFECTS, NOR THE GARAGE FULL OF MEMORIES).
PLEASE PROVIDE THE BEST ADVICE YOU LEGALLY CAN, THIS IS KILLING MYSELF AND MY SON!! I AWAIT YOUR RESPONSE WITH GREAT HOPE....NOTE: Please keep this information confidential and THANK YOU! Again, please forward this to Bg0427 AS SOON AS POSSIBLE!
hi locarver,
you should contact the lender in order to apply for a deed in lieu of foreclosure. you need to contact your lender inform him about your hardship by writing a hardship letter. the lender will judge your financial situation and let you know whether or not you would be able to get approved for a deed in lieu of foreclosure. if the lender accepts it, you'll be able to sell off the property and won't be liable for paying any deficient balance.
thanks
you should contact the lender in order to apply for a deed in lieu of foreclosure. you need to contact your lender inform him about your hardship by writing a hardship letter. the lender will judge your financial situation and let you know whether or not you would be able to get approved for a deed in lieu of foreclosure. if the lender accepts it, you'll be able to sell off the property and won't be liable for paying any deficient balance.
thanks
Locarver,
There are a lot of people in the same situation. I understand that your situation is unique. Your best option here is going to be a short sale. There are some headche free ways of completing a short sale. With the deed in lieu its not always going to be possible to get out of without having to make a financial contribution or a defiency judgement.
With a short sale you can have a good company work on it that will not charge you anything and they will work solely on completing the deal without a definciency judgement. I wouldn't send you to an attorney there are plenty of competent companies that will take care of this 100% without any cost or headache to you.
You do have options here but I dont believe the DIL in s the best option.
Who is your lender?
There are a lot of people in the same situation. I understand that your situation is unique. Your best option here is going to be a short sale. There are some headche free ways of completing a short sale. With the deed in lieu its not always going to be possible to get out of without having to make a financial contribution or a defiency judgement.
With a short sale you can have a good company work on it that will not charge you anything and they will work solely on completing the deal without a definciency judgement. I wouldn't send you to an attorney there are plenty of competent companies that will take care of this 100% without any cost or headache to you.
You do have options here but I dont believe the DIL in s the best option.
Who is your lender?