Now, we could have just given it back to the bank, but where would we find another 8 bedroom house at a price we could afford? Nowhere. So we asked the lender for a loan modification backj in August of 2009. We made payments monthly.
In July of this year we decided that we were not going to get a loan modification. At that time through my work I heard about a small legal firm that had an impeccable track record of having your mortgage completely expunged. Like gone. As if there never had been one.
So in July we applied for help from this little company. It's now Oct 1. Last week we got notice that they were at the stage where they are asking the lender for a release of the mortgage and a summary judgment from the judge.
By this time next month that mortgage will be dead and gone.
The legal firm has you put a new mortgage (non qualifying) on the property at 50% of today's value. We'll make payments on that only. The firm also puts a lien on the rest of the property to secure their profit. We have to refinance or sell the house in 3-5 years, but that's OK as by that time we hope to have all the kids, who will be adults by then, placed into good group homes and assisted living facilities. We'll just sell and move on.
It's the only way that we could have stayed in this house. A short sale would have meant we HAD to move. Foreclosure would have damaged our credit so that at our ages we'd probably never be able to get another mortgage. Who's going to rent to a family with 9 special needs kids?
This works on any house where the mortgage is higher than the house is worth. It brings your payments way down and you get to stay in the home.
I'm posting this because I absolutely know that we can't be the only large adoptive family out there who has a home being threatened with foreclosure. I know the despair that I felt before this program came along. That despair has turned to peace. My HOME is safe.
This legal firm has expunged the mortgages of 200 homes out of 200 attempts. They want to stay quiet, because they could easily get overwhelmed with requests.
I'm trying to get the word out to a few friends. Don't give up hope. We can give you back your home and your peace, even if the final hearing is scheduled. Even if the auction has been scheduled. Just get in touch with me and I'll point you in the right direction.
Email Dustyheart @ hut18.com
While you're waiting, watch this video. It shows how bad things are. The feds, who are basically controlled by the banks, won't help you. They can't. This solution is so much better than anything the government could come up with, and quicker.