Very Busy Day
@just4him (323168)
Green Bay, Wisconsin
May 18, 2016 4:01pm CST
I've had a very busy day from the moment I got up this morning, minus the two hour nap I took as I was falling asleep on the computer due to lack of sleep - only five hours last night.
So I filled out all the information for housing, made copies of the necessary documents, ran over to Veterans Affairs, got a copy of my DD-214 and went back to housing with all the required documents.
In the mean time I also got the overnight FedEx packet from the loan company, DENIED.
I had already determined I would be moving anyway, so it was not big surprise or let down.
Arriving home, I went out again to NeighborWorks with whom I've been working since this all started two years ago next month to find out what kind of time frame I'm working with before the sheriff's sale.
Okay, I'm going to take a breath right here to say, the loan company called as soon as I sat down at the computer.
The Sheriff's sale and the Foreclosure are OFF.
Yes you can re-read that a couple times.
I had mentioned a while ago when the loan company took over that there were a couple options for me. One of them is the Deed-In-Lieu.
When I talked to the housing office this morning after turning in all the documents they told me I was on a high priority waiting list because I'm 62 and I'm a Veteran. That means that instead of 12 months, I will have a placement in 3-4 months.
Now for the good news you're waiting to read.
The Deed-In-Lieu works like this - I send them a letter stating I want to move forward with the Deed-In-Lieu selling the property to the loan company. They then sign the paperwork and it gets sent to the county to switch the names on the document from mine to the loan company. This could take to the end of June before all the signing is complete.
Keep in mind I have 3-4 months with housing. I also need to qualify for the Deed-In-Lieu which basically means they look for any other liens on the title, which there aren't. So that's why the signing on their end could take until the end of June.
Once everything is signed, they need to send the paperwork to the county and depending on how long they take to record the change - which depends on whether they're backed up or not could be a short time or longer.
Once everything is recorded it could take 60 days before I would need to be out of the house, which puts me at the end of August.
Once the signing is done, I will get a check in two parts totaling $10,000 from the loan company. $2500. up front and the rest after they've done an inspection of the house. Hopefully the condition of the house will still grant me the other $7500. I will get that check immediately.
Housing will have something for me in 3-4 months. So IF I end up being homeless for a period of time, which if things work out the way they look like they will, that shouldn't happen, I will have money to find a place to rent in the meantime.
And because it's being done Deed-In-Lieu there will be no foreclosure and no sheriff's sale and there won't be anything on my credit record stating my home was in foreclosure, it will show up as SETTLED.
God is working this out and in a better way than even I could have imagined. So I will have a new place in a few months.
In the meantime I will be doing a lot of downsizing and packing as I get ready for this move.
Things are looking up.
I also got International stamps, so the postcard to @valmnz will be in the mail tomorrow.
How's your day going? What is your news? Thanks for reading.
36 people like this
37 responses
@celticeagle (189793)
• Boise, Idaho
19 May 16
This looks really good for you. I bet you are relieved to have this portion of your journey over. You know what is ahead.
7 people like this
@celticeagle (189793)
• Boise, Idaho
19 May 16
@just4him ....I envy you. Would love to have a place of my own again.
4 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
@celticeagle Maybe it will happen for you again. Only God knows our futures.
3 people like this
@Marilynda1225 (91013)
• United States
18 May 16
I'm so happy to hear that things are working out for you Valerie 
hope everything gets settled so you can move and get into your new place without being homeless at all
hope everything gets settled so you can move and get into your new place without being homeless at all7 people like this
@BelleStarr (61463)
• United States
19 May 16
I am so glad that everything is going to be settled for you. Will you be getting senior housing.
5 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
I don't know. I also checked on the form for Veterans Manor a brand new housing project for veterans and the first of its kind in Green Bay. We also have a new Veterans clinic. The woman at the housing office said I would get something in the mail in three weeks. Another form for me to fill out.
4 people like this
@Tampa_girl7 (54714)
• United States
19 May 16
That is wonderful news. God is good
5 people like this
@Drosophila (16568)
• Ireland
19 May 16
Oh wow these are definitely some progress and movement. Do you know if there is something in place for you should you be stuck without a place. Like temporary housing?
4 people like this
@Drosophila (16568)
• Ireland
19 May 16
@just4him right, but would the state have any additional support while you wait for housing to come through.. I would definitely ask when you meet with the woman from "the state"..
its good to ask that, just in case you might have to wait for more than 3-4 months
3 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
@Drosophila No, there won't be any additional support. I know that much from dealing with them for the past couple years.
2 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
@JudyEv Yes, it is what everyone says, but among those possessions are the memories that come with them. I've got a battle in front of me when it comes to getting rid of things I've had for a very long time and are connected to family moments.
2 people like this
@just4him (323168)
• Green Bay, Wisconsin
20 May 16
@CRK109 No, because I don't know where they place people on housing. But I have looked at quite a number of them and found several I really liked and a number of them do allow pets, some with hefty pet fees. So if I am placed there, I would not get a pet, much as I want another dog. My son wants me to make certain I can take care of a dog before I get another one, and I understand that.
3 people like this
@vandana7 (102698)
• India
19 May 16
Valerie...this is the first time I have read a post of yours that has so much details about your finances. Of course, it is still incomplete information as far as I am concerned.
What I am unable to understand about your banks and financial institutions or for that matter governments is...
a. They are willing to take over the properties...and struggle to manage them but not lease them out at lower cost to the homeowners...seems illogical to me. You see, commonsense dictates...reduce losses. But if I am going to keep the home empty, the maintenance costs will be there, and then security costs as vandals can come and pick things, and then insurances, and then of course, when I want to lease them out to another person, check the credentials show the premises repairs modifications periodic rental collections or sale negotiation...whatever..everything costs monies...why be willing to lose the value of the property....something that could cost your 200000 will lose value to 100000 considering high labor costs at your end. Beats me how they intend to recover those costs for sure. If instead, I'd let the homeowner use it till a specific timeframe...at an agreed rate of rent as you'd pay say to other housing, I would be assured of the safety of the premises, its maintenance, and what nots, and no adverse possession dangers, blah blah. The rent can continue till five or ten years with some agreed annual increments matching inflation rate for housing in the region. After 10 years, I can be again asked to repay loan as it stands as of now. Effectively outstanding loan gets frozen, which it is getting frozen ANYWAY once you are vacating. At least for Veterans that would be the stand I would have taken since they can't be in touch with reality on the field.
3 people like this
@vandana7 (102698)
• India
19 May 16
@just4him ... But the point is THEY ARE NOT GETTING THEIR MONIES..lol
They are just not reassessing the situation...case by case and conditions by conditions it varies...they need to revise their norms...call shareholders meet tell them...we will pay you lower dividends for the next so many years...but there will be some reliability ...in what we are doing. Your assets won't fluctuate much and your wealth will never be zero.
In the present scenario...they are more FINANCIALLY vulnerable than you are...and if they continue to do so, the situation will continue to get worse because government will be under pressure to provide housing and will build more of homes...making the lending for homes non-viable for much longer term...beats me how logical all this is...
In fact, they might have to sell the inventory at lower prices to government to remain viable if the inventory is held by them for way too long.
No sweetie...Deed in Lieu is negative for them...as well as you...
Deed in lieu is almost what was your down payment and some mortgage principle I presume, if at all...
But holding costs of inventory of homes IN DIFFERENT LOCALITIES is tremendous...theoretically it needs to be revised each season...every rain is going to do some damage, which if you'd lived in that house would have met with your pockets. There would be rats, and other rodents. and Mildews and fungus...plants will overgrow, spoiling the driveways...once you leave that place...Jungle claims what belonged to it...periodically getting it cleaned and maintained will make the inventory worth nothing to them...and they would have to do it to whenever somebody shows some interest in buying the property...
some people can't seem to get it...there are homes in the US that nobody is living in...large homes...abandoned homes...why? Cost of maintenance is simply too much! Why create national waste is what I am asking.
2 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
Since you didn't follow all the different posts I've made here regarding my house it would be difficult for me to make you understand. In effect I lost my job three years ago, at which time I was able to pay my mortgage until my money ran out, two years ago. Since then the house has been in foreclosure because I defaulted on the loan. I had no income to pay the mortgage and it was my sons who helped me stay afloat with the other bills for the house. They have a modification plan so a person can have the opportunity to keep their home at a reduced rate. However, I've been denied that opportunity because my Social Security I receive is not enough. So I must vacate the premises.
3 people like this
@just4him (323168)
• Green Bay, Wisconsin
19 May 16
@vandana7 I did let them know I lost my job right away as soon as I couldn't make the mortgage. I was also trying to find another job the whole time, but that didn't happen because of my age.
Lenders here don't care about anything except getting their money. If that doesn't happen they foreclose the property. With the Deed In Lieu that was offered to me, the lender is doing what you are proposing. In light of what I owe on the mortgage, for them to give me anything for deeding it back to them is a win for me and them.
You obviously have a better knowledge of banking and finance than I do. I can't explain it any better than I have. You are also well educated. There are a lot of things I don't understand.
3 people like this
@Butchcass4 (5895)
• United States
21 May 16
What an amazing account of all the things happening in your life, praise be to God for all His goodness to you in this situation.
3 people like this
@Butchcass4 (5895)
• United States
21 May 16
@just4him That is so awesome the way God works things out. So happy He has blessed you this way.
2 people like this
@just4him (323168)
• Green Bay, Wisconsin
21 May 16
Yes, it is amazing, and I've sent the packet back to the loan company already, I got it the next day and sent them my authorization to go ahead with the Deed-In-Lieu. I've been through a foreclosure and sheriff's sale when I was married and my kids were little. This was never an option, so God is so good to offer this and everything is coming together in his perfect timing.
3 people like this
@just4him (323168)
• Green Bay, Wisconsin
22 May 16
@Butchcass4 Thank you. God is so great! I'm very happy with everything now and looking forward to the move.
2 people like this
@Jessicalynnt (50523)
• Centralia, Missouri
19 May 16
that does indeed sound like a decent ending to a long headache!
3 people like this
@just4him (323168)
• Green Bay, Wisconsin
22 May 16
@Jessicalynnt It really is and now I'm cleaning, sorting, and throwing when I'm not on here, that is.
2 people like this
