The Latest On My Parents House

@CatsandDogs (13964)
United States
May 28, 2009 1:52pm CST
I know that some of you are wondering what's going on so here's the update. It hasn't sold yet. The economy isn't good in the area that it's in either but it is getting better however, my parents don't have any more money to make the house payments any more. They used up all that they had saved from when my grandmother passed away and the inheritance that my mother had received. It's only a matter of time before it goes into foreclosure or our prayers are answered that it sells before then. They did contact the bank in hopes to get some help in some way to lower the payments but haven't heard anything back from them yet and it's been about two weeks now. Not only that, they're looking into filing for bankruptcy as well to help relieve them of so many medical bills that they have accumulated over a 20 year period. I'm wondering what is it that we're all to learn from this. It's a hard bone to swallow but they both say they've come to terms with it but I know down deep inside they're torn up over it but they've done all they could and so have we. We did give them some financial help a few weeks back (from the inheritance hubby received from his parent's death) which should help them out a bit but still, we're hoping their house sells before it's foreclosed on. Are any of you affected with this recession or is it getting better in your area? Will you please pray (harder) that their house sells so it won't go into foreclosure? Thanks to all of you who've followed this all the way til now and have prayed for our recovery!! Bless you all!!
2 people like this
5 responses
@ANTIQUELADY (36489)
• United States
29 May 09
I do hope it sells before foreclosure happens. Things are bad around here to. i'm soo sorry.
1 person likes this
@CatsandDogs (13964)
• United States
29 May 09
Thanks Antiquelady, we hope so too. Maybe the bank will hold off for a while before foreclosing on it because they have so many already and give the house a chance to sell. We can only pray and hope that. Then again, maybe my brother will rent it and get his daughter. Anything to save their house.
1 person likes this
@ANTIQUELADY (36489)
• United States
29 May 09
have u heard anymore from your foster brother. i was hoping he'd come through & help u out. when it rains it pours , doesn't it??
1 person likes this
@CatsandDogs (13964)
• United States
29 May 09
Not yet I haven't. Maybe he's waiting for payday? Who knows but I hope soon he'll come through.
1 person likes this
@mentalward (14697)
• United States
29 May 09
Cats, I wish the best for your parents! I know it's hard out there and I'm not entirely sure it's going to get any better any time soon. I just noticed a "Public Auction" posted on a house not too far from our house. This is a farm house, too, and just happened within the last few days. Our own mortgage has gone up from around $1,700.00 a month to $2,300.00 a month because of my husband being unemployed for 4 months. The mortgage company was very understanding and allowed us to make those payments over time, but it's going to be a very hard 5 years because we have to pay $2,300.00 per month for 5 years, until the arrears are all caught up. Mortgage companies don't want to foreclose, that's for sure! They've already foreclosed on way too many homes and they may just have ways to prevent that from happening to your parents, but your parents have to be persistant because I'm sure they're not the only ones begging the bank for help right now. Remember, the squeaky wheel... Just in case, remember that they own the house they're living in free and clear. They'll always have a home, no matter what happens to the other house. If it's foreclosed on, it's certainly not the end of the world. There are many, many people out there who have lost the only home they owned because of the recession. Yes, they'll lose the equity in that house, but they'll still have a home and at least they won't have that burden hanging over them any longer. I do hope that a miracle will happen and they find a buyer for that house but, if it doesn't happen, then your parents can at least relax a bit... it's not the end of the world, they still have a home and they have YOU.
@CatsandDogs (13964)
• United States
30 May 09
Prayers, chanting or what ever, it doesn't matter, we need all we can get!! Thanks Marti!! You're a true gem!!
@Polly1 (12650)
• United States
29 May 09
Oh Cats, I just said a prayer for them. I know its hard but do your best to keep the faith, its all going to work out for the best. I am living basically on faith and what I can hustle up. I don't have a regular steady income and when I need something, things fall in place. I sell on ebay and also my mom and I have a couple of cleaning jobs. I will probably eventually need to get a job but my mom needs me so much I have been trying to make money from home online, thats what I want to keep doing. So yes this recession has hurt, people just aren't buying like I want them too. Christmas time was really busy, I made good money in December. Bless you too my dear friend.
1 person likes this
@CatsandDogs (13964)
• United States
29 May 09
Oh Polly! You're so sweet! Thank you! I'm trying to keep faith but it's getting harder and harder all the time. It's weird how the house had so many prospective buyers when my damned nephew and his low life soon to be exwife wanted it to rent and then buy later on. Now look at what's happened. They've had to lower the price a number of times which means they lose more and more. So far it went from 325 thousand to 205 thousand. A huge huge huge loss. That's ok, every jackass has it's day and he'll be no different.
@grammasnook (1877)
• United States
28 May 09
Honey are your parents able to do a reverse mortgage?
1 person likes this
@CatsandDogs (13964)
• United States
28 May 09
No because they have to be living in the house to get the reverse mortgage and they're not willing to do that. They love where they are now and want to sell the old house which my nephew and his soon to be exwife were going to buy but she left him not even two months after the wedding. He can't afford to do it by himself.
@Thoroughrob (11756)
• United States
28 May 09
I hope it does sell for them. I think there are alot of people in the same boat.
1 person likes this
@CatsandDogs (13964)
• United States
28 May 09
Here I thought once we get a new president, be it who ever it was to be, that things would start to look on the up and up but apparently not or not so fast. Wishful thinking anyways. I told my parents that with all the over seas buying up this business and that piece of land here in the USA, we're going to soon belong to or become another country.