Can anyone help us avoid foreclosure
I found your website & was wondering if you could help us. We have been repeatedly turned down to refinance our adjustable rate mortgage which has gone up yet again. We filed Chapter 13 bankruptcy 2 years ago & we are sinking deeper. They are taking my husband’s entire paycheck. My 80 year old mother in law lives with us & has dementia. We do have $900 a month income from her. I have been selling on eBay but they say we can’t use that income toward refinance without 2 years of tax statements. It would cost us more in adult daycare than I would bring in working a job.
My husband only makes $28,000 a year & our payments to the court are $875 twice a month. He is searching for another job but cannot find anything making more right now. He has also been hospitalized 3 times in the last year for heart failure & heart problems so at this time, a 2nd job is out of the question. The bankruptcy lawyer says that he cannot make the mortgage company stop raising the rate.
We owe $16,000 on the bankruptcy including several thousand in student loans. The pay off on the house is $177,000 & it was appraised 3 years ago at $210,000. The fair market value should have gone up as there are now several houses that have been built & sold since then. Before there wasn’t anything comparable. One of our central units has gone out, our back door & the wood around it needs replacing & the floor of the master bath needs replacing. It is 3,500 square feet with 4 bedrooms, an office & 3 baths. We love our house but now the payments for just the mortgage have gone to more than he even makes.
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