Anonymous
Guest
Anonymous
Guest
Dear Paul Revere,
Only small severance, if I don't find a job in 2 months I have to stop paying my mortgage. Anyone in a similar situation?? Any ideas to avoid foreclosure? Other then paying mortgage-I already said I can't after 2 months.
My wife and I down sized in 2008, sold our house, paid off all consumer credit, autos, ect. We bought a small house in a nice neighborhood with a small mortgage and put the rest in emergency saving. We were set to save over 40% of total earnings for retirement to insure we would have a good quality of life in retirement. Then, we both got laid off, canned, fired.
In spite of being set to move forward, the housing market and job market tanked. We both took a jobs that paid a tenth of our previous salary. In our mid -forties we could not buy jobs.
Long story short, after a year we depleted every dime we had in savings and had to short sell the house. We had to miss a couple mortgage payments to qualify for a short sale. This ruined the credit score in a matter of days that was near perfect for 20 years.
We eventually sold the house short and lost the 100k we put into one year prior. The bank lost 0.
Do your research and determine what is best for you and your family. Some of my neighbors lived in their homes for over 3 years and never paid a dime and hoarded a ton of cash. They stayed until the sheriff came. They came out way ahead of me. They were smart. Their credit was already ruined and did not care. I was trying to save my credit and down payment so I could get another job. Those that did not give a sh*t won.
I am sorry to say, but unless you are under 35 or have a great resume and contacts the odds of finding a job in 2 months are slim.
America is not the old gray mare she used to be.
I need to know the San Diego hotel please.....l.l..l
Only small severance, if I don't find a job in 2 months I have to stop paying my mortgage. Anyone in a similar situation?? Any ideas to avoid foreclosure? Other then paying mortgage-I already said I can't after 2 months.
My wife and I down sized in 2008, sold our house, paid off all consumer credit, autos, ect. We bought a small house in a nice neighborhood with a small mortgage and put the rest in emergency saving. We were set to save over 40% of total earnings for retirement to insure we would have a good quality of life in retirement. Then, we both got laid off, canned, fired.
In spite of being set to move forward, the housing market and job market tanked. We both took a jobs that paid a tenth of our previous salary. In our mid -forties we could not buy jobs.
Long story short, after a year we depleted every dime we had in savings and had to short sell the house. We had to miss a couple mortgage payments to qualify for a short sale. This ruined the credit score in a matter of days that was near perfect for 20 years.
We eventually sold the house short and lost the 100k we put into one year prior. The bank lost 0.
Do your research and determine what is best for you and your family. Some of my neighbors lived in their homes for over 3 years and never paid a dime and hoarded a ton of cash. They stayed until the sheriff came. They came out way ahead of me. They were smart. Their credit was already ruined and did not care. I was trying to save my credit and down payment so I could get another job. Those that did not give a sh*t won.
I am sorry to say, but unless you are under 35 or have a great resume and contacts the odds of finding a job in 2 months are slim.
America is not the old gray mare she used to be.
I need to know the San Diego hotel please.....l.l..l