foreclosure papers

[SixPackSunday]

OK so heres a small bit of the details...

my old man lost his job about 8 months ago. he had a decent chunk of money saved up.... but knew he needed to find work

my sister, brother, and I knew that my old man wasnt going to be able to keeping paying the house payment every month, so we decided to each pay 1/3 of it via 'anonymous' donations from the church each month. this started 5 months ago. This also meant that while i could afford to help my parents, i couldnt afford both it and my own place, so i'm doing the lame college kid thing and living in the basement! lame i know, but you gotta do what you gotta do.

my father called the housing company 8 months ago and told them he was not going to be able to keep making payments unless he found work because he was laid off, and they told him that he had to be 3 months deliquent on the house before they would care. so he stopped making payment for those 3 months. we picked up the tab after he was the 'required 3 months' diliquent so he could work something out on what he was behind.

well after falling dilequent the housing company told him the only way they could work with him was if he was paying an excess of his monthly bill, and it needed to be about 20% of the bill. Well if he had excess money to begin with HE WOULDNT BE DILIQUENT!

long story short? were paying the bills to keep it current, but we really cant afford the chunk of change it will cost to pay off those first three months, as we are all strapped pretty tight already as is. My parent also have the other usual bills to pay, plus feeding me.

friday the foreclosure papers came. I'm not sure how long my parent have, but its not looking great.

dad has an interview tomorrow. his first one in 8 months after LITERALLY sending out roughly 20 resume's a week since he was laid off.

pray it goes well for him please, not only does he need a job, he's going stir crazy with nothing to do all day!

thanks for the thoughts/prayers in advance all

[teotides]

Good thoughts and prayers headed your way for you and your family. My fingers are crossed for your dad's interview

[goatfarmer]

Have absolutely no knowledge of how these financial institutions work but if I receive a foreclosure notice I would see if there are any new, or proposed foreclosure policys taking affect in my state. May want to contact local representative and they should be able to direct you to appropriate source. The property value may have depreciated and who ever holds the note may be required to establish a payment schedule at reassessed value thus reducing the amount of the loan, not necessarily eliminates the total amount of the mortgage, just puts the obligation further out in the future. Believe the Financial Institutions are required to work with the individual. Anyhow, had an urge to chime in and add my $.02 which is about what it's worth. Good luck!!

[Cypress]

Logan, my thoughts and prayers are for you and your family. We are all going through rough times now and we all need friends and family to stick together.

[SixPackSunday]

farmer, thanks the for advice, and yea i know my parents have been trying to look in to any aid they can get at this point to get through. no luck yet though

[mrreindeer]

Very sorry to hear this; thoughts & prayers sent to you and your family Logan.

[mc2712]

Very sorry brother, my prayers go out to you and your family.

[Dave128]

My prayers go to you and your family. I hope the interview goes well.

[scottw]

I hope things turn around and pops finds work. Keeping my fingers crossed for you guys.