Finally! Friday is the day!

[PANSYFACE]

It seems that my filing day is at hand. Busted out of the depression that caused me to lose my business and livelihood, got the taxes all filed - owe 62k plus P&I - have no job-
have equity in our house but if trustee or IRS, State take it to sell - where in God's name do we live?


Nothing is selling here except the millions+ homes on the beach. I figure that the equity will be eaten up quite a bit by the taxes I owe and penalties etc. If the trustee can't get
enough to pay mortgage(behind 1 year and 4 months) and all taxes and get something for himself, maybe he would abandon it?

we have 10 and 9 year old cars that are paid for but need work.

Everything else is old, broken and not worth anything - we only owe taxes due to the payments on credit cards that are not deductible so on paper we looked like we were doing well - hah - upkeep on an old house is a killer and we gave up on that too.


Thanks to everyone on these forums - I have been quietly lurking this last year - and gotten a lot of information and support.


This is crazy but what about a reverse mortgage - has anyone gotten one after A chapter seven?

We really do not want to lose our home of 25+ years but it seems inevitable. Sorry for the rambling - I am just totally beat with the worry.

[JessMN]

I felt like once the decision was made, the weight of the world fell off my shoulders. I, too, was struggling to keep up a house I couldn't afford (no one ever tells you how much you spend on upkeep!) I'll tell you - I've been renting for 7 months now and I LOVE it! Garbage disposal stuck? Call maintenance. Closet door came off the rail? Call maintenance. I was in my house 9 years and it was a big struggle letting go of my "home" but you know, home is where you make it and you will survive! I don't know if this will help you or not, but I did a post on my emotional journey

[keepsmiling]

Great news Pansy! From a fellow NJ-an
May I ask.... how did you "bust thru"? I am constantly on the verge, have to keep smiling and keep fighting it off. Hence my screenname
As to if the state takes your house.... well, they'd have to give you your 42K exemption... at least you could rent for awhile with that. It sucks that in Fl or Tx this would not be an issue.
We've been in our house 25 years too-- TODAY actually is our silver anniversary here lol.... but took out so much in equity loans and refi's to keep paying bills that we should just slip in under the exemption amount while prices stay depressed. Talk about a mixed blessing, huh? We should have been almost paid off by now.
What does your atty say about the house?

[PANSYFACE]

Thank you both for your support. Atty says trustee will want it - too much equity - 160K supposedly. But tax debt will eat up a lot of that once penalties and interest are added on.

We are using Federal exemptions - where does this 42k come from?

I was treated by a friend for free with a holistic healing method and my own stubborn spirit finally came back and I think God thought I had been punished enough.

[keepsmiling]

Each of you gets 21,625 in homestead (I assume you and hub are filing). So, a little more than 42. Your atty should be telling you this!
Not much, but at least you won't have to live in a box. Perhaps you will have time to save up some more cash once you stop paying the mortgage- or maybe you have already?

[keepsmiling]

How old are these taxes you owe?

[PANSYFACE]

Not old enough to be discharged, unfortunately. Can't save any money because my business is gone - my hubby barely makes enough for utilities. Cut out everything, life ins, movies, pizza, - we have a bare bones existence.

Stopped paying mortgage dec 2010 - when my business died. I need employment asap!

My attorney doesn't communicate - his secretary is a total waste of time - doesn't give him messages. I have no email(internet is gone too) so I am stuck doing it the old fashioned way by phone. I borrow a friends computer for the internet - pain in the butt but oh well.

[tobee43]

Pansy, i'm just wondering is your house in foreclosure yet??? i know it's been over 4 years for our house in nj and Chase hasn't made a move...other than call me weekly and ask us what are intentions are with the property. (they are nuts the mortgage was discharged and we vacated 4 years ago).

while you situation is different, the process to get you out of the house should still be the same, they have to go through the court system so hopefully that will give you some time to save up so money for moving. i hear nothing, absolutely nothing is moving up there.

i'm also hard pressed to find see if the trustee can in fact sell it! i mean if nothing is selling, how is it that YOUR house is going to sell.

[PANSYFACE]

No foreclosure yet - just every 6 months or so get a notice of intention to foreclose. Just got the third one - tobee43 - the fact that your house is still not sold gives me hope that we can stay for as long as possible! Short of winning the lottery, I don't know how we will manage rent without me working.

There is very little activity sales-wise here - so I'm keeping my fingers crossed. We also have 2 cats so we need to stay until our name is off the deed.

And just for fun, there is no record, at least on line, of Skank of America holding the mortgage - all that shows are the prior mortgages and them being paid off.

[keepsmiling]

The house next door to me sold in very short order- just a few months. It's the showplace of the neighborhood, totally redone and in perfect shape. But things are selling. I think they got 400+ for it, and it's on a 50x100 lot.
My poor lil shack is worth about half that since it's falling apart lol.

Pansy, have you applied for help with the utilities? There is assistance for gas, electricity and water.

[tobee43]

no body wants my big house with all the black mold and the flooding problems i guess. however, the bank hasn't even tried to sell it . actually, with all the problems it has/had i can understand. i don't know who's caring for the ponds, the grounds, the pool the spas...and guess what..I DO NOT CARE LOL!! i don't even miss it after living in it for over 30 years. i do like my new little place, although, it has been an adjustment, i will not lie to you about that.

i agree with the keepster there, and i would see about getting help with the utilities.

[PANSYFACE]

thanks for your input - i appreciate your support. I am very anxious about tomorrow. I spent days on getting all the paperwork just right - and we are getting the next wave of debt collectors calling - can't wait to say here is my case number!

It is strange that we qualify for all kinds of "help" - and that we are actually thinking of getting it - I have always worked at least 2-3 jobs and paid my bills - how sad that it has come to this and I may never be able to get a decent job again.

[keepsmiling]

You probably qualify for food stamps too. You've worked all your life to help others have these things, now it's your turn. Do what you need to do to keep your family healthy.
Good luck. Did you see my PM?

[keepsmiling]

@tobee.. "keepster" .... love it lol

[tobee43]

@tobee.. "keepster" .... love it lol

LOL!

good luck pansy, i know it will all work out!