Long story short me and my husband both work and we don't qualify for any of the housing programs or assistance today we were even denied food stamps this morning. We don't qualify to refi or anything. My question is since we don't qualify for anything can we move ? its getting harder and harder to get groceries etc. I have done all i know to do i've called anyone who would listen so i do not want to move but by all means my family has to eat.Anyway we can just move without it messing up the credit where no one will let us buy another house? Any advice is helpful.we are not in forclosure but close enough to it.
Thanks in advance
K
Thanks to everyone for all your responses,encouragement and time.
We would love to discuss your situation with you and have several options for you to consider. Please go to our web site and send me your contact information. www.countrypropertiesreo.com and know that I will be praying for you and your family.
Moving is very expensive. I am not sure how that will solve your problem.
I know that Grand Prairie has a grant program that gives you $20,000 if youwill spend part of it to do energy efficient updates to your house.
http://www.gptx.org/Modules/ShowDocument.aspx?documentid=...
This site will help avoid foreclosure
http://www.foreclosurelegalassistance.org/
This site will help you move if you get foreclosed on
http://www.ehow.com/list_###-###-####_foreclosure-assista...
Besides the other advise you are getting here, I would highly recommend checking out daveramsey.com. This financial program literally changed our lives - and you can get about 98% of the information for free. Good luck, I know times are tough.
It sounds like you own. Talk to a relator and see what your options are. My husband was out of work and we had made the last mortgage payment we could when he got a job. But she told us that we could rent our house out for basically our mortgage payment. Even if it was $200 less it would really help us! And we could have moved into an apartment for about $1000/month. Also short sales are better than foreclosure. Do you have family or friends that live near that might be able to help? I mean a lasagna dish can go for two dinners in most houses...can someone make you a dinner a week?? I'm so sorry because I know how hard it is! We used to grovcery shop on less than $200 every two weeks, now for the life of me I can't get under $300. So maybe try cutting down on the "luxuries" and just buying the things you need - which I'm sure you are already doing. But maybe some things that were necessities before are now luxuries. I dont know. I'm sending prayers your way. But talk to a realtor and call you mortgage company NOW and see what there is that can be done. They don't want the home in foreclosure anymore than you do.
If you own your home now you would need to sell your house a forclosure would hurt. If you rent and your are not at the end of your lease you can find someone to take over the ramaining part of your lease then you are good. Also if you explain to your landlord that you have no choice or you will not be able to pay he may wave any break of lease fee/penalty due to it is cheaper than evicting you for non payment.
You are actually in a great place. If you own your home, take Rachel D's advice on possibly renting out your place. Most of the programs that help with mortgages involve you actually being in foreclosure. Also in these "tough" economic times, you have to be in trouble to get things your mortgage renegotiated. As long as you look like you can afford your home, even if that isn't the reality, you will be hard pressed to find help.
Most of the suggestions here are about cutting back or out. I love to encourage people to think about the things they can do to bring in additional income. What can you, your husband, and/or children do to bring in some extra money? If your children are in their teen years and like children, offering a babysitting service would be great or perhaps a lawn mowing service. What are some things you like to do? Baking (homemade breads, cakes, cookies, and pies goes a long way) especially with the holidays coming up.
You definitely want to check with your local churches. Many have food pantries that can help to supplement the food you buy on a regular basis.
A short sale and foreclosure have a negative impact on your credit but you are in great company because of this point in history this is happening to many people.
The first thing I would do is see what things we could do as a family to earn extra money, check out the local churches for their feeding programs, check into the rental market in your area and then come up with a plan that works for your entire family. It may be a mix of things.
Please check out daveramsey.com! We took the financial peace university course last year (we received a scholarship to do so). My husband makes about $32,000/year and we've had a $15,000 turn around in only the past twelve months...over $30,000 in the past 18 months!
In March of 2009, we had $15,000 on a credit card, $800 from Lowe's for a fridge, $18,000 to my in-laws, I needed about $3000 in dental work (more without insurance...our insurance is ok), my husband needed $200 in dental work, and we had nothing in savings. Fast forward to today and we have no credit cards ($15,000 and $800 paid off), we owe my MIL $5200, I lack about $600 in dental work (just two crowns, I've had all the actual work done), my husband has had his teeth fixed, and we have $1000 in savings. We've also fixed his truck twice with the emergency fund and cash flowed $600 worth of tires on my truck.
It takes a lot of hard work, but you can do it. Simple ideas with a lot of impact that take a LOT of effort at times. Seriously, it is very worth it to get on a plan and stick to it even when it is tough!
If you hold a mortgage and walk away from it (stop paying your bill), it will impact your credit for a long period of time. Similarly, short selling your house will impact your credit, but may be the better option for you. You should start by meeting with your mortgage lender and speaking with them about the situation. Short selling your house will take an extended period of time, but it will get you out from underneath the monthly financial obligation.
Just be aware that you will have a difficult time purchasing another home in the near future (and really, you shouldn't be doing that right now until you are more financially stable). You may need someone to co-sign a rental agreement as well, so have someone lined-up to do so.
Take copies of your monthly bills to the bank and meet with a lending officer. They may be willing to short-sell if you can document financial hardship.
You should also take a very close look at where you are spending your money. Lots of advice regarding cutting-back which is great! Many times we feel like we are living "bare bones", but in reality we buy things we don't absolutely need, name brand condiments when the store brand is fine and red meat when chicken would satisfy the nourishment! Be honest with yourself about how you got to a point that you could no longer pay your bills.
Read Dave Ramsey's book- very sequential and easy to follow!
Check out this site too:
https://www.angelfoodministries.com/
I highly recommend Dave Ramsey and his books daveramsey.com also go for a short sale over a foreclosure, with the foreclosure the bank will come after you for the difference of what they sell the home for with a short sale they wont, talk to your realtor and see what you can get for your home.
if you have young children you might see if you qualify for WIC (women infants and children) they will help you with food, and some medical (immunizations and such)
You could check into a short sell. A lot of people are doing those around here. It does affect your credit I believe -you'll need to discuss it with a realtor to get the facts. If you just up and move and basically abandon your home and quit paying the mortgage, it will be foreclosed on, auctioned and your credit will reflect that.
