Should I try for modification now or wait?

[zpbk13]

I have been following your story and feel so many of the same emotions. While we did not build our house, it is the perfect place for us, especially my wonderful attached garage and big back yard. I didn't realize how much I loved it until I stopped making payments back in April. Have not heard a word from BOA. I actually just realized this morning that we have not even been receiving our monthly statements since we stopped paying.

We are in Ohio where it is cold many more months out of the year than I would like and my SAD has been getting worse each year. It is understandable that you will have grey cloudy skies in winter but it's harder to endure when it's spring/summertime. We are pretty set on relocating so why do I feel so sad about letting our house go? It is a building, home is where you and your family live but some how it still makes me sad to leave. Should we try for a modification? I don't know if I love the house that much. Decisions, decisions, decisions ...

[ssmdem]

I have been following your story and feel so many of the same emotions. While we did not build our house, it is the perfect place for us, especially my wonderful attached garage and big back yard. I didn't realize how much I loved it until I stopped making payments back in April. Have not heard a word from BOA. I actually just realized this morning that we have not even been receiving our monthly statements since we stopped paying.

We are in Ohio where it is cold many more months out of the year than I would like and my SAD has been getting worse each year. It is understandable that you will have grey cloudy skies in winter but it's harder to endure when it's spring/summertime. We are pretty set on relocating so why do I feel so sad about letting our house go? It is a building, home is where you and your family live but some how it still makes me sad to leave. Should we try for a modification? I don't know if I love the house that much. Decisions, decisions, decisions ...

If you guys are set on leaving the area, I don't know that I would try for the modification. From everything I've read, it's typically a time-consuming and frustrating process which I'm not sure that I want to exert the energy into. I know SMinGA's went pretty smoothly, and I can only pray that ours will too if we decide to go for it. But I highly doubt we'll actually leave the area, even though the idea sounds appealing to me right now. My husband hates his job (I hate his job), but both of us have always lived here - 40+ years. The thought of moving somewhere else sounds new and exciting - scary all at the same time. Our family and countless friends are here - it would be tough, but if my husband could find another job elsewhere, we'd consider it. Unfortunately, the only position with his company he could possibly get right now would require him to move about 2-3 years, and I'm soooo not up for that!! So, we most likely will just be here as always. That's the main reason I'm still considering the modification. But it's still a lost cause without a major reduction in principal as well - which only stands a chance of happening by us going through the foreclosure process anyway.

Ironically, the house we tried to buy when we bought our rental property instead (we lost it by ONE DAY!) I noticed on the way home a few minutes ago. It's in foreclosure!!! I almost choked. Had we been able to buy that one, we never would have built this house, wouldn't have bought the rental, would be in the perfect location, and wouldn't be going through this right now. Can't wait to see if I can find out what price it will be going up for at the auction.