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Answers (8)
"if the bank wanted the house back they should have taken it a long time ago. Thats on them."
_________________
Great logic there Steve.
As for the rest of what you said; I am assuming you don't understand what empirical evidence means; therefore I won't waste your time or mine explaining it to you.
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Great logic there Steve.
As for the rest of what you said; I am assuming you don't understand what empirical evidence means; therefore I won't waste your time or mine explaining it to you.
- shasta_steve
- Contributions:448
I think you are way off base on this one too Professor. You are assuming lots of things that you just can't know.
I don't really get that the OP is asking for a handout. He just wants to know what help may be availible. There are lots and lots of people in that same boat right now.
Now you seem to be upset the poster has 5 kids you don't think he can afford. What he said was he was unemployed and his wife works. I know times are a changing but most of the time the husband is the main breadwinner and you have no idea of why he is currently unemployed or what he did. I am assuming that if he has not paid his mortgage in 18 months he has been without a job for a long time. 6 or 7 years ago I would of found that odd but now I know lots of guys, who never thought they would be without a good job, that are looking for work and have been for a long time. I guess my question to you is what makes you think the OP did not have a good job and lost it like so many others today?
As far as having 5 kids I would almost bet it is probably a blended family. His, hers and maybe theirs. Again you have no way of know what the familys financial situation was before all this happened anyway.
I don't see a problem with the "ethics" of renting out a room to someone in their position, especially if they disclose the problems they are having. I actually see it as a good thing as they are trying to do the best they can in their situation. You seem to know everything but where would they be doing anything renting a room that would cross the line "legally".
Now I agree, if they have not been able to save money, after 18 months, they are probably screwed anyway but if the bank wanted the house back they should have taken it a long time ago. Thats on them.
I don't really get that the OP is asking for a handout. He just wants to know what help may be availible. There are lots and lots of people in that same boat right now.
Now you seem to be upset the poster has 5 kids you don't think he can afford. What he said was he was unemployed and his wife works. I know times are a changing but most of the time the husband is the main breadwinner and you have no idea of why he is currently unemployed or what he did. I am assuming that if he has not paid his mortgage in 18 months he has been without a job for a long time. 6 or 7 years ago I would of found that odd but now I know lots of guys, who never thought they would be without a good job, that are looking for work and have been for a long time. I guess my question to you is what makes you think the OP did not have a good job and lost it like so many others today?
As far as having 5 kids I would almost bet it is probably a blended family. His, hers and maybe theirs. Again you have no way of know what the familys financial situation was before all this happened anyway.
I don't see a problem with the "ethics" of renting out a room to someone in their position, especially if they disclose the problems they are having. I actually see it as a good thing as they are trying to do the best they can in their situation. You seem to know everything but where would they be doing anything renting a room that would cross the line "legally".
Now I agree, if they have not been able to save money, after 18 months, they are probably screwed anyway but if the bank wanted the house back they should have taken it a long time ago. Thats on them.
" based on what? the 100k combined yearly income? what piece of data has the OP provided that shows he can't afford 5 kids?"
________________________
What 100K yearly income?
I based my opinion on the following empirical evidence:
" my home is about to go into foreclosure."
Self explanatory
" I am currently unemployed and all we have is my unemployment and my wife's salary. "
While 1 income households can be sufficient, it appears not to be in this case.
" We have also recently rented a room. "
Obviously a sign of financial distress to bring a stranger in your home with your 5 children. I won't even mention the ethics or legality of collecting rent on a property you are not making mortgage payments on
" We have not made a payment since July of 2010 "
Self explanatory
" even if there is a plan to make things affordable is it worth in the end? "
Clearly a statement indicating it's not affordable not.
And I was wrong about the 6 months, it's been 18 months without them making a payment. They should have plenty for a place to live by now.
I just love it when people live for free and still expect more handouts.
What a great country this is!
________________________
What 100K yearly income?
I based my opinion on the following empirical evidence:
" my home is about to go into foreclosure."
Self explanatory
" I am currently unemployed and all we have is my unemployment and my wife's salary. "
While 1 income households can be sufficient, it appears not to be in this case.
" We have also recently rented a room. "
Obviously a sign of financial distress to bring a stranger in your home with your 5 children. I won't even mention the ethics or legality of collecting rent on a property you are not making mortgage payments on
" We have not made a payment since July of 2010 "
Self explanatory
" even if there is a plan to make things affordable is it worth in the end? "
Clearly a statement indicating it's not affordable not.
And I was wrong about the 6 months, it's been 18 months without them making a payment. They should have plenty for a place to live by now.
I just love it when people live for free and still expect more handouts.
What a great country this is!
- Caveat Emptor
- Contributions:500
In Tacoma Washington, home prices are really off about 27% on average with some areas obviously being worse than average. Zillow is a Seattle based company so they do have pretty good data in king county.
@ chuck,
based on what? the 100k combined yearly income? what piece of data has the OP provided that shows he can't afford 5 kids?
_____
sorry, but I can't be more helpful with the specifics.
@ chuck,
based on what? the 100k combined yearly income? what piece of data has the OP provided that shows he can't afford 5 kids?
_____
sorry, but I can't be more helpful with the specifics.
You should have 6 months worth of payments saved up, I suggest you use that for 1st, last and security deposit on a nice rental for your family.
You should not waste your time with a 3rd party for a modification, if you could get one, you could get one on your own and without paying anyone.
On a side note, and I'm sure I will get blasted for it, but I strongly believe that if you cannot support 5 children, you should not have them and then expect Obama or anyone else to bail you out. It's my opinion and I'm entitled to it.
Please note that my intent is not to be mean, however, sometimes reality is a hard pill to swallow.
You should not waste your time with a 3rd party for a modification, if you could get one, you could get one on your own and without paying anyone.
On a side note, and I'm sure I will get blasted for it, but I strongly believe that if you cannot support 5 children, you should not have them and then expect Obama or anyone else to bail you out. It's my opinion and I'm entitled to it.
Please note that my intent is not to be mean, however, sometimes reality is a hard pill to swallow.
- Wes Black
- Contributions:509
We will soon see what the govt proposes in terms of housing assistance. Many differing opinions on just how much the government should be involved.
- Mike Leyden, "leydenrealty"
- Contributions:61
Have you gone to http://www.dfi.wa.gov/consumers/homeownership/?
And called the hotline # 877-894-4663?
These are State of Washington resources and could offer you a second opinion to the advice you've been getting.
Values are down about a third from the peak in Summer 2007.
You should also talk to your local social services to see if you can get some housing assistance. It may take awhile to line up a place so you should get started on this (if you haven't already).
And called the hotline # 877-894-4663?
These are State of Washington resources and could offer you a second opinion to the advice you've been getting.
Values are down about a third from the peak in Summer 2007.
You should also talk to your local social services to see if you can get some housing assistance. It may take awhile to line up a place so you should get started on this (if you haven't already).
- Mike Bjork, "MortgagePlannerMike"
- Contributions:346
First off, I'm sorry to hear about the bad fortune. You won't be able to qualify for HARP 2.0, as you will need to be current on your mortgage. Hopefully, the loan modification works out for you and your family. The main thing to consider, by the lender point of view, is will you be able to prove that you can (current position) repay the loan. You may want to look into Shortselling your home, just in case (better alternative than foreclosure). Good luck.
Obama's plans to hit in February?
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