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need help finding #366663 01/15/08 06:42 PM
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bluebonnett Offline OP
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I am a 65 year old female paraplegic, I own my own home but have recently used all my savings. My only income is social security disability which is $807.00 a month and my house payment is $595.00 it is becoming harder and harder to make my house payments, utilities, car payment, car insurance, ect, since my income is is low. I want to stay in my house and remain self sufficent. But am finding it harder to make sure I dont get forclosed on. Does anyone know of any place to get a grant or help with my finances? All the places that I have found will help 1 time a year with rent but no place that helps with morgage. Thank you and may you all be blessed.
hugs Luene

Re: need help finding [Re: bluebonnett] #366665 01/15/08 06:46 PM
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pondlady Offline
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Check out a reverse mortgage. It might work for you.


Jan Goldfield

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Re: need help finding [Re: pondlady] #366685 01/15/08 07:33 PM
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Elleise - Clairvoyance Offline
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Have you tried contacting your mortgage bank? Many people people are embarrassed or feel helpless and are afraid to disclose their financial burdens. The economy is lining itself up for a recession.

Because of this, the banking tables have turned and will work with you. On average it can cost around $60,000.00 for a bank to forclose. It is in their best interest to help you keep your home. They have no choice in the matter.

So, if you feel like a deer caught in the headlights, I know it's hard, but try not to. When I called my bank telling them I had been laid off from my job and anticipated trouble, they told me unless I missed 2 payments or more they wouldn't help me (this explains a lot actually confused). So I did. I was actually one of those people that hated doing it too but found a miriad of options once I surrendered. PMI payment, refinancing, re-writing the loan (they put the deliquency back into the loan, basically).

I believe the dept. is Loss and Mitigations.

I hope this helps.

Eleise
Clairvoyance Editor


Karen Elleise
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Re: need help finding [Re: Elleise - Clairvoyance] #366808 01/16/08 02:12 AM
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bluebonnett Offline OP
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Thank s to both of you for the fast answer. Yes I have tried the reverse morgage and dont have enough equity in home to do it.I have also called the morgage company to see if I could refinance, tack missed payments on back of loan , just pay interest for a couple of months, and rewriting the loan. They said flat out no. So I thought of posting here to see if anyone might know another way, or someplace else to help. Thanks again for your interest and help.
hugs Luene


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