Boyfriends family has to sell their home via short sale...
it will be the 4th house on the street up for sale...
and thankfully the nicest so it might sale faster...
I feel so bad...
I know people who have lost jobs, gotten laid off, but none who have lost their homes. They are current on the place but its just too much to make the payments every month... they tried to get their loan changed and it was denied.
I feel so bad for them...
Why are they having to do a short sale? Did they lose a job? Is the house just worth a lot less than when they bought it? Did they get an adjustable rate mortgage? Why did they suddenly decide that it is too much now?
ReplyDeleteI don't feel so bad for them because it kind of sounds like they just don't want to make their payments anymore. It's people like that who are walking away from their mortgages who are driving home prices down across the country. Did they not know what they were signing when they got their mortgage? I don't have a lot of sympathy.
His dad had an amazing job (6 figures and huge bonuses)... and he lost it.
ReplyDeleteHe is currently working 3 jobs to keep the house (2 independent work from home freelance accounting and one full time accounting job)...
they have been trying to keep their home and have never missed a payment (its a fixed rate). They were working with the bank to reduce the interest rate on the home so they could keep it and the bank said no.
That was their last ditch effort because They tried to sell the house normally for 6 months last year and it didn't sell.
They have been putting expenses on Credit cards to help them get by this long. His wife works at Disneyland checking people into the park and works as many hours as she can but they have cut back with summer season ending.
oh... and boyfriends sister got really ill... like on disability ill and that drained a lot of their resources and contributed to the debt they have as well
ReplyDelete