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    dolphin80's Avatar
    dolphin80 Posts: 1, Reputation: 1
    New Member

    Jan 8, 2007, 12:13 PM
    Losing Our House And Vehicles
    Im 26 And Married Have 4 Kids And Another In Coming In April2007 . Husband Had Decent Job Got Layrd Off Jan 5 2007 . House Mortgage 1 Month Behind . Husband Found A Job 11.oo Hr Was Making 21.75 . Nothing Hiring .please Help Were Losing Our House And Vehicles
    KMSRyana's Avatar
    KMSRyana Posts: 142, Reputation: 26
    Junior Member

    Jan 8, 2007, 12:18 PM
    The best thing you can do right now is immediately contact your current creditors and explain the situation to them. They want their money, yes, but it's a losing situation for everyone if they have to reposess anything or foreclose on your property. Explain what is going on and they will work with you. Don't bury your head in the sand and hope it gets better, you MUST take action. Call them. Ask for their help. Take notes on who you talk with, what time, and what your solution was. You may need to remind them of what they agreed to and who made what agreement and when.

    Good luck to you and I hope your situation improves.
    wynelle's Avatar
    wynelle Posts: 184, Reputation: 21
    Junior Member

    Jan 13, 2007, 07:35 PM
    It sounds like you were already having financial issues before your husband lost his job, if your mortgage payment was already a month late.

    From what I understand, you need to be more than one month behind to be foreclosed on, or to have vehicles repossessed.

    My advice is the same for everyone---there are jobs available, just not high-paying ones. If your husband works the day shift, then you need to find a job in the evenings or weekends. Sell what you can. Take to your creditors.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692

    Jan 13, 2007, 08:20 PM
    Sometimes it gets tough, and we can't pay 4000 in bills a month if we are only making 1500 month so someone don't get paid,

    Talk with the lenders as mentioned, let them know and keep looking for a better job. And he can try and get a second part time job if needed.

    And in the end you may look at bankruptcy, maybe a chapter 13 and try to work out a payment plan. Now if you have too many cars and owe too much on them, sometimes it is hard to work it out. But all you can do is your best.
    Wesly's Avatar
    Wesly Posts: 2, Reputation: 1
    New Member

    Jan 17, 2007, 01:05 AM
    Your going to need to file bankruptcy if your husband doesn't find a better job, Sorry to be so blunt, but you can't continue to live like you used to. I think half of America is going though what your doing. The good thing is in Michigan, I know that if you make less then 80k a year you can still file chapter 7 and don't have to pay anything back, that could take care of the credit cards, personal loans, and brand new cars. I would keep the house you need a place for you and your kids. You definitely don't need a new car, so include it in your bankruptcy and buy a beater. If you know your husband can get another good paying job like he had, maybe refinancing is a way to go, let your house fall behind another payment and pay everything else and then refinance that should buy you a month or two, yeah you'll get collection calls, but 1st party mortgage companies don't start foreclosing until 90 days.(still takes about 6 months to compete at least though Washington Mutual) If you want some more help contact me.

    HOMEOWNERS seeking a mortgage refinance and new home buyers are often told why they do not qualify for certain loan programs from their mortgage company. Top Flite Financial, Inc. prides itself on being able to place almost any home loan, even if you have less than perfect credit. Dealing with the greatest range of mortgage lenders allows us the most flexibility when working with our clients on refinancing mortgages AND home purchase loans.

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    bigcowboy1's Avatar
    bigcowboy1 Posts: 28, Reputation: 1
    New Member

    Feb 23, 2007, 11:43 AM
    Question: I live in Michigan. I make less than 80,000 a year. I want to file bankruptcy. But the medium state income is 49,000 for a family of 2. So how did you come up with 80,000? Sure hope you're right.

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