Hello all,

My husband and I have been dealing with falling behind on our mortgage and were looking at possible foreclosure. I decided to go directly to the mortgage lender and ask if there was something we could work out in order to keep our house. Long story short we finally got a decision (just last week) and the offer is great however they only gave us until 06/26/2020 to accept the offer and in order to make good on our end we have to come up $3500 by 06/30/2020. If we can't come up with the $3500 they'll accept Deed in-lieu of foreclosure, which means we'd have to give up the house. If this wasn't a house that I grew up in and have basically lived in for all almost 51 yrs of my life, I'd walk and let them have it but this is my HOME and I want to stay here. So, my question is any ideas or suggestions as to where we may get help with the $3500? Oh and we're STILL waiting on our stimulus!

Thanks everyone, have a wonderful week!

Kiki

Original Post

@lismox Thank you for the suggestion but we don't even qualify for a payday loan so a bank or credit union are out. I do appreciate you're trying to help.

That's  a fair amount of money in a short time. Any chance of borrowing or cashing out of retirement? My last option would be selling everything i own if I had enough to cover it. And I mean everything. I would sell my stove for $100 if it meant helping me stay in my home. And things like TV's I would pawn to family and friends if they are not inclined to give or lend with no collateral. If you think you can get back on your feet at a later date,  then you can always get those things back.  

 

If your house mortgage is held/secured with a Federal loan like many homes in the U.S., why not immediately check out Mortgage help/forbearance via the CARES Act program?

Forbearance is for those that are current on their mortgage I believe. Is it possible to do a cash for keys, as this will save the lender the foreclosure process. The foreclosure process may take up to a year, or longer in a consumer friendly state. I would sell everything, sell plasma, sell jewelry, do odd jobs, sell prepared bread and meals. Even if you are headed to foreclosure, save money, and prepare for your eventual move. I am so sorry you are experiencing this.

Thank you everyone for your suggestions. I spoke with the person that's been working with us and asked if he could ask the lender for at least another month to get the money together. I'm still waiting on a reply. Fingers crossed, I love where I live and have been here for 50 yrs.

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