YAHOO ANSWER: Save the house?

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Save the house?

QUESTION

Asked by “miss_spunderella”

Can someone PLEASE help us come up with ways to earn $15,000 so our house doesn’t get auctioned off?

We fell behind in our payments and our house is going up for forclosure in August. We are a family of six now and are happy in our home. with the struggles of school, work and availability for a babysitter, things have been more than we could manage. plus no male to help with the burden. We can work with someone on a private auto loan, or any kind of possible opportunities you can suggest. We are now employed and have a live in babysitter to help, so the loan will be re-paid promptly. PLEASE help with ideas, and possibilities so we are able to keep our home.

ANSWER

Dear “miss_spunderella”:

Well, losing one’s home is no joke. Coming to Yahoo Answers means you’ll have to take ALL advice, especially mine, with a large grain of NaCl.

As, I understand the gist, you’re behind in your mortgage payments and are at risk of foreclosure. Did you get a foreclosure notice from the lender? You need an attorney, a cpa, and a counselor to help you get thru this.

Assuming, a big assumption, that you hit a temporary bump in the road, and can NOW afford your payments. Your lawyer can help you get straight with the lender. No lender WANTS to foreclose. You may have legal rights to slow the process down and make it attractive to the lender to “cooperate”. Your accountant can help you understand what goes in, what goes out, and get you organized to avoid this in the future. A counselor can help you with the emotional roller coaster thru the processes. Your local social service agency may be able to help you with a grant or loan to keep you from getting throw out on the street and being homeless.

Assuming, again big assumption, that you just need some interim financing, say to overcome some unemployment, I’d aim you at your local bank, a credit union (the website to find a local one is below), and the PROSPER website (i.e., they mediate people to people loans; website below).

Hope this helps. I’m interested how it works out for you. Drop me a note sometime. My blog may have helpful “stuff”.

Ferdinand J. Reinke
Kendall Park, NJ 08824

SOURCES

http://prosper.com/
http://www.cbsnews.com/stories/2007/02/09/eveningnews/main2457400.shtml
http://www.creditunionsonline.com/
http://tinyurl.com/lxu93
http://www.reinkefaceslife.com/

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UPDATE: Chosen best by voters. One vote between eight answers. Ten points!

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