Housing question.

[Justpoor]

Hi All,

I've decided to let the house forclose and I just missed my June payment. I just found out I will be getting laid off in 60 days. Where do I live if the house forcloses and I still am unemployed???? I'm a mess. Will I be on the streets?

[DeadManCrawling]

Save every penny you can as you go through this. Foreclosure is generally not a quick process, so you should have some time.

What state are you in? States with non-judicial foreclosure are generally quicker, once the ball is rolling. The ball can sometimes take a while to GET rolling though.

BK can stop foreclosure for a while longer.

Begin working now to avoid being homeless. Save money, do whatever work you can, even if it is outside your profession. Possibilitis include: Roommates, either at your current place or another person's place. Tell any roommates about the foreclosure though, so they are not taken by surprise. Friends or family you can live with if you have not saved enough and secured a job?

Planning now and learning all you can about these processes will save you much heartache later.

[JRScott]

If you just missed June's payments and none others you are probably months from foreclosure or even before the bank would think about it.

Sorry to hear you are being laid off, my sister in law got her notice to Friday.

DeadmanCrawling has some good suggestions, see if you can room with someone or move in with family for low costs to get you through this time.

[NickJ2000]

My aunt didn't pay her mortgage for a year and it took about another 7 months to finally foreclose on it. So you should have some time.

[Justpoor]

Hi. I live in Florida. Even before I missed the June payment I had asked for a loan mod and was declined. Then they sent me short sale instructions. All before I even missed the payment. My atty told me to ignore them. They call a few times a day and I don't answer. Doesn't this seem like they are moving fast? I was hoping for a year. Thought the job market might open up given time.