V8 Beast

So question. If I've paid interest for 6-7 years, and the short sale is for $20k less than listed, don't they still make a small profit off of me?

This is my favorite thread. We should meet in real life at a round table with chips, beer, and laptops. We can call it Man Talk ( laptops are to grab factual evidence to support claims and look at random porn).

Be Randy.. doing barrel rolls at the range shooting other peoples targets.

When in doubt hand the gun to a kid. Countless hours of video games since birth have unknowingly created super soldiers.

The district is 8 out of 10 and the schools my kids go to are 9/10.

60 has to hurt, hopefully you like the house so its easier to swallow. I like my neighbors for the most part, and the house isnt too bad. What hurts more than anything is its pushing back my goals. Financially Im ahead of my goals. I had my plans laid out for a move to Dublin, but my wife lost her jobs, and the price of the house just kept dropping. Things could be worse so Im grateful... but it still doesnt feel good knowing 25 year old Brian is messing up stuff for 32 year old Brian. That guy is such an idiot!!! :lolguy: J/k I would have had to be psychic. I thought I did everything right. I picked the house that was 45k under what I was approved for. Shopped around, stayed in my budget, avoided balloon payments, put my kids in one of the best school districts... but somehow I still feel shafted. I also read up on strategic default (like Killjoy posted). It appears 1 out of 5 people that got a house around the time I did are likely to do that. 20% is a crazy high number!

I was just messing around. My first gun was a 9mm that jammed on every 5th shot.

I email at work so much some of my employee have me set to auto delete At home I have it synced to my phone so that its more like a text

If I stay and pay I'm giving away roughly 25% of what I pay. If I leave here to rent from someone else I lose 100% each month. If I rent to own from the family I have the option to determine how much I give away. But my pride will take a huge hit and I will feel like a bitch. If I take the easy way out I just keep paying and dont think about it. Hoping at some point while no one is at home Wagner comes to say hi and totals my house with his newly acquired Big Foot truck by mistake. P.S. I need someone to help me install a deck and a kitchen floor. P.P.S. I have to stay so I dont feel guilty when I waste money on hobbies.

The amount taxed is being appealed. Interest is like 4%. And for the total amount, lets just say when the "oops" happened the interest that wasnt paid was added back on. So essentially the interest missed was added to the principle and reset about 2 years worth of payments

A guy I know did something similar. Stayed in a house without paying until he was kicked out. Saved up all the money, got a nice apartment (paid 3 months up front... money talks), and a new car loan.

Its a catch 22. I could spend 4 years catching up on a house. Or I could go elsewhere, and spend the 4 years repairing my credit, while doing something responsible with my added savings.

This

Market Value is $150. It was listed at $200k when I took the loan out on it, but that was a bunch of B.S. I talked them down to $180 and thought I was getting a steal The joke was on me At two different points my wife lost her job and we have to put things on hold. One we used the insurance we paid for (you know the one where they can put payments on hold in the event of a life event like lost wages). The other the company misunderstood us and didnt use this. We didnt realize we were past due on the mortgage until we got a letter in the mail telling us we were at risk of foreclosure. When we called back they were all like "oops", and we started paying. At the time since we were past due they added the missed payments on top of the base rate and lowered our interest rate like .05%. When asking if they could fix it in a way that didnt impact our payments they said no. Even though I paid for the insurance for events like a lost job it was put back on me for not being more clear when I called in. I just sucked it up and have been paying the increased amount after calling and escalating repeatedly with no luck. When I found out about it I called and attempted to do right by them, but couldnt pay multiple months of mortgage all at once (because I was the only one working). I took a credit hit, and a monthly payment hit. There was no back dating the job lost insurance or working with me outside of giving me what was given to people at risk of foreclosing. The little bit of an interest decrease and a have a good life was all they could offer me. You could tell the lady wanted to help but her supervisor kept shooting her down.

Not Cheif, That Guy.. his username is That Guy

I really do appreciate all the help everyone. Ive had a bit of a struggle with this for a while, good to see Im not alone. Who do I pay the copay to?

Im different in that Im paying $1000 a month for a house worth $500 a month. That extra money could be added onto my kids college funds.

Damn, its like you're in my head. Very good points. My in-laws are wealthy. When I say get a house, I mean they would buy a house and I would pay them rent. Then I would take a loan out in a decade so they could sale it back to me. They wont help with this house because they feel the bank took advantage of us and refuse to pad the companies pockets.. and if they died tomorrow I would be rich and get their homes in Delaware and Florida. My end goal is to improve the house enough to where a short sale isnt too much of a loss and they approve it. The problem is getting them to give me a number to shoot for. If they count $40K as income that would boost me to a different tax bracket, $20k wouldnt.

P.S. That Guy and I have exchanged pm's and all is good in the world. I used him as an outlet for my frustration and could have approached it differently.

Nurkvinny flip a car philosophy: (as I have seen over the years) Buy x car for y Have fun with x car Sale x car for y amount Replace with z car for y amount rinse and repeat

I've got a new angle... but its also good to communicate with people going through similar situations. Thank you sir. I've got a lot to ponder. I'm going to try going into the branch and speaking face to face with one of their financial advisers. Thats about the only thing I haven't tried yet to get all of my options.

Times are hard. P.s. My neighbor foreclosed and the guy that moved in payed $75k less for the house!!! WTF!!! Nothing makes sense. If Im responsible I pay for it. If Im irresponsible I get rewarded... is this real life!?!?!

Actually, I thought about doing the rent and get an apartment, but never the rent and get another home. Damn, so simple and right in front of my face.. fail Actually, this might have been what killed those thoughts about legally renting last time. 5% less fail .. + 10% for not remembering. Current fail at 105% I dont think I could. Not unless I wasnt able to afford it some day.

I pay my bills on time.. Im even so responsible that Im second guessing an easy out. You fail at reading on a forum of words :fa: Anyone have any alternate options? Is there a gray area that can be looked into? I've researched this stuff for about 3 months, but people that go through it typically have other options that are not always openly offered.