Sign up for your FREE personalized newsletter featuring insights, trends, and news for America's Active Baby Boomers

Newsletter
New

How Can I Save My Home That’s In Foreclosure?

Card image cap

Hi Reddit. I’m looking for advice on how I can save my home from foreclosure OR if I should try to do a quick sale. My, 28M, located in Illinois, home is in foreclosure. This is devastating to me and I am so disheartened that it’s come to this. I lost my father last year and it really took a toll on my mental health. I had to help pay for funeral costs, miss work, and ultimately my home is now in foreclosure. Yes I know there are several months before foreclosure actually happens and I tried very hard to get it reinstated but unless you have the amount the mortgage company needs to make up for the missing payments, there’s really no way to reinstate it. And i couldn’t just come up with $10,000. I tried the hardship assistance with my mortgage and got denied. I don’t know why. I don’t want to lose my home. My kids have grown up here. They are 7 years old and 2 years old. I was told there is a lien on my home now from the mortgage company for their lawyer fees when they took me to court. How am I supposed to pay off a $3,000 lien on my home if I’m already struggling? I have enough to pay my mortgage payment monthly again, but not the $10-12k all at once. I’m working 6 days a week, sometimes 10 hours a day. I was always a hard worker. I had the same job for 7 years, then started a job in trades about a year and a half ago. I’ve never been in a darker place in life than when i lost my dad and had all of this start to happen. I don’t know where to go from here. Here’s another option I have, my boss buys homes and we flip them. We do gutters, siding, tree work, yard work, flip homes, if it has anything to do with contracting or maintenance or anything outdoors, we do it. My boss has offered to buy my home from me and let me rent from him and we will fix it up, add a garage, and if I want, I can move into one of his other properties. Paying rent of course. BUT there’s still that lien on my property that I can’t pay. OR he will show up to the auction and try to buy it. The only problem with that is, what if he doesn’t get the highest bid and it goes to someone else? The thought of losing my house to someone else and being forced to move out of it within 30 days is devastating. I know I’m kind of out of options. The auction is on July 15. I just don’t know what to do and I need some advice. Please don’t be too harsh on me. I know this was my own fault but I truly couldn’t have prepared myself for this. Losing a parent at the peak of my life truly destroyed me. I was grieving while also losing my home and my job that i had for 7 years, because of days i missed from being so depressed. Please someone give me some good advice or even words of encouragement. I’m drowning.

submitted by /u/Left-Caterpillar1190
[link] [comments]