Need Advice and Guidance.
User ID: 27352798
12/22/2012 11:40 PM
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If you can keep the house, that is the MOST important thing. I am assuming that the monthly mortgage payment is not too high. If you lose the house and end up in an apartment you would have to pay montly rent anyway. Under a bridge, the rent is not so much.
It's HARD to get things, don't underestimate the worth of your house to your situation, it is very, very important. Can you try to refinance it?
Do you know that it is very difficult to even rent an apartment these days?? They run a credit check on you, investigate your bank account, call your references, and you would need first and last month's rent plus an equivalent amount as security deposit. Plus you end up living very close to neighbors and a lot of people these days are pretty inconsiderate.
Chance of you saving up $15,000 for a down payment to buy another house are practically impossible given your situation. KEEP THAT HOUSE no matter what it takes. Rent out one of the bedrooms if you have to. Stall for time, just keep paying on the mortgage. Don't feel bad about getting food stamps if you can qualify. Take an assessment of all your monthly expenses and cut to the bone. Shut off the cable, reduce the utility bills, sell one of the cars, mow the lawn yourself, stop buying clothes for awhile.
You can try to repair your credit by simply disputing the bad debts...the credit card companies have two options when you dispute the bill, they either spend time and money to pursue an investigation to PROVE that it is your debt, or they just say oh my bad. They are required to do one of the two, they choose the cheaper alternative.