Walking Away

[Faithfullymovin]

Hi:

We have just walked away from our home and I am really stressed about dealing with the mortgage company. We have moved over 700 miles away and this is the first month we will be late.

Can anyone give me any insight to experiences that they have had with this. The house is in Michigan and we are living in GA.

I plan on sending a letter with the keys and garage door opener to the mortgage company explaining our situation and that we can not longer pay for the house.

I plan on giving them my new address but do I need to give them my phone number as well? Will they call me all the time? Can I state in my letter to not call just handle everything in writing?

I am just so scared about what is going to happen. We do plan on filing BK in October.

Thanks for the help.

[needingsomehelp]

Hi...

I would call them and let them know that you will be filing BK and you are planning on surrendering the house. Also tell them that the house is empty now, as they may want to go and secure the home.
We updated our address with them, however we did not provide a new phone number to them. We also let them know that we left the house, but they never went and secured the home, at least not yet. We are in BK right now, and are waiting to be discharged.
Good luck to you!!

[hnhlvr]

Did you shut off the power and water? You may want to do so.

I was hesitating to turn off either, but the water company told me that with the possibilites of squatters that you MUST turn off everything so you're not liable for it.

The first mortgage called me twice daily (even though the mort. is only in my husband's name) UNTIL last week when I was sent five (!) copies of our default notices. My husband gets multiple calls per day about the second mortgage.

Call them and tell them what you're doing and then give them your number. Do you want to risk having them call relatives?

[breezyday]

[Faithfullymovin]

Breezyday:

We are doing okay. Today was a much better day then yesterday. I cried alot. It all just came at me yesterday. Since we have moved to a brand new state, I just was overwhelmed. We arrived in Georgia on Sunday and our apartment will not be ready until Wednesday. The new company my husband is working is putting us up in an apartment, but it runs out Friday. So we will move into our new apartment tomorrow. Then to top it all off my husband's company will send him over seas for 3 months( he leaves this Saturday). So I get really panicked about dealing with walking away from the house by myself.

I am glad to be out of the state I was in. We were transferred to Michigan with my husband's job (was in the end was being eliminated). All our family lives in Tennessee. So when he was looking for another job we looked south and found a good job in Georgia. It is not far from my family in Tennessee. While he is over seas I will spend alot of weekends at my parents house.

I know you are looking forward to moving back home. It will help with the stress. I just need to not get so worked up on feeling like I failed because we are losing the house.

I plan on talking with a few Lawyers in September and hopefully we can file in October or November at the lastest.

Keep in touch and let me know how everything is going with you. We are kinda going through the same thing at the same time.

Faith

[breezyday]

[ssdsco]

Hi:

We have just walked away from our home and I am really stressed about dealing with the mortgage company. We have moved over 700 miles away and this is the first month we will be late.

Can anyone give me any insight to experiences that they have had with this. The house is in Michigan and we are living in GA.

I plan on sending a letter with the keys and garage door opener to the mortgage company explaining our situation and that we can not longer pay for the house.

I plan on giving them my new address but do I need to give them my phone number as well? Will they call me all the time? Can I state in my letter to not call just handle everything in writing?

I am just so scared about what is going to happen. We do plan on filing BK in October.

Thanks for the help.

[hnhlvr]

ssdcso - who is your mort. co?

[ssdsco]

Gmac

[Faithfullymovin]

ssdsco:

Thanks for the info. I hope my mortgage company is as nice as yours. I will make the call next week. My loan was sold to Litton Loan Service about 4 months ago, so we will see how nice they will be.

Faith

[liz417]

ssdsco:

Thanks for the info. I hope my mortgage company is as nice as yours. I will make the call next week. My loan was sold to Litton Loan Service about 4 months ago, so we will see how nice they will be.

Faith

Good Luck!!!

[breezyday]

Faith how are you doing?

[Faithfullymovin]

Breezyday:

Thanks for asking. I am doing well. We have settled into our apartment and the kids seems to be getting into the swing of school.

I just sent my mortgage company via certified mail a hardship letter, a financial statement along with the keys and garage door opener. I am asking for a deed in lieu of foreclosure and if they will not work with me then they can have it.

I am feeling much better than when we left the house. I have been decorating the apartment and putting the kids rooms together as well. My daughters room in the apartment is bigger than the one we had in our house! She is very excited about that. I look forward to not worrying about having to put more money into a house at the moment. We were so over extended that it is really nice to have such a small rent payment and not stress about a big house payment, a large tax bill and large utility bills. I am closer to my family and that helps greatly as well.

I am moving forward now and not looking back.

How is it going with you? Have you moved yet?

Hang in there, and let me know how you are doing.

Faith

[breezyday]

We will be moving around Sept 6th, so a little way to go yet.

Out of the blue someone wants to do a short sale but our bank is having none of it!
They told my realtor they would rather forclose.

One way or the other we are out of here the first week of Sept.

Can't wait to hear what your bank has to say!
Keep me posted!!
We won't be far behind!