saving the house - Posted by lora jacobs

Posted by Jim FL on March 04, 2002 at 12:26:25:

Way to go!
Good job!!
Now, just use what you learned to buy some other properties and make some money.
Perhaps partner with the relative who used to sell real estate and have them do the talking or negotiating.
Either way, it sure feels good to solve a problem, doesn’t it?
Especially your own.

It is always nice to hear a “Happy ending”.
Warms the heart and helps us all face another day.

Jim FL

saving the house - Posted by lora jacobs

Posted by lora jacobs on March 04, 2002 at 11:40:30:

Hi, my name is lora, about a month ago, I posted a request on how to approach the bank when I couldnt do what the mortgage demand letter wanted me to do; I was losing the house and was scared ,I was hiding my head in the sand,anyway a person wrote and told me to approach the bank, I did and the bank said there was two ways I could handle this 1.recapitalize the mortgage arrears amount( which means to tack on the arrears at the end of the mortgage 2.paybck in installments…I tried the recap thing by making application for a loan amt to cover the arrears, waited 4 days, got a call of decline, I started to bawl, so I called up a close family member who use to sell realestate, she did the talkin and we finally got the mortgage people to go along with 2. by putting $100.00 in a separate acct monthly for the next year to show good will I suppose.; we set-up the acct so that I cant touch it as I am not good with money management. Also, since my power was going to be disconnected, she put in a little money and got me on the equal payment plan i am now on track. If I didnt post asking for help on your site on how to proceed, I would have lost everything,so thanks for the help, I am very grateful sincerely lora…

Re: saving the house - Posted by GL(ON)

Posted by GL(ON) on March 04, 2002 at 15:32:06:

It’s always good to hear from someone like you and to know that our efforts helped. I think I recall the post, and that I was one of the ones who responded.

I hope you learned some important lessons from this. One, that it is always better to try to do something even though your fear tells you not to. That you can accomplish more than you think, by using your head, being assertive and making an effort.

Also that it is a lot easier and more fun, to STAY out of trouble than to GET out of trouble.

Now that you recognise that you have a problem with money management, I hope you are making an effort to get organised, and keep track of your affairs? It really takes a load off your mind when you know where you stand, that all your bills are paid and you are in good shape financially. And it is not that hard once you get organised, easier than you think, and it soon becomes a habit to keep track of things.

Maybe your business like relative could help you get organised so this kind of thing will not happen again.