For those of you who are sad about facing foreclosure

[Martha13]

I know this is one of the hardest things to do--especially when we had such high hopes, so-called "dream homes" and memories all around, but I just saw a silver lining last night and wanted to share. We have just started this process ourselves, and moved into a nice rental this week. We are still moving things from the old house to the new, and it's very nearby, so that has taken alot of the stress out. We don't have to be OUT any minute, can take our time. I noticed as the old empties out, and the new fills up with all our STUFF, the old house has less appeal. I'm feeling better and better about the decision everyday, and more sure this is the right "business decision" for us. Last night, this really hit home, so to speak, as we decided to have what we like to call "CD parties" -- play a bunch of music, the kids, hubby and I all get up and dance and act like dorks. Though we were playing these CD's on this old, smaller tv/dvd combo we have, with all our stuff in boxes everywhere, sleeping on mattresses 'til the beds can get moved...it was just the best feeling. I watched my kids giggle, and dance around, smiling like not a thing has changed in their worlds, and at that moment I realized for certain--that old HOUSE was not my home, my FAMILY is my home, and was a fantastic feeling. Good luck to everyone contemplating this confusing, depressing and frustrating process. I think there really is a light at the end of the tunnel

[PoorGrammyinBK7]

Precious moments...

Excellent post Martha!!!!


If more people realized what you did last night, (every day) we probably would not be such a "debtor nation"!

We could all simply learn to enjoy the love of our families and LIVE every precious moment concentrating on the people in our lives, instead of being enslaved by the things.

[bmrigs]

I know this is one of the hardest things to do--especially when we had such high hopes, so-called "dream homes" and memories all around, but I just saw a silver lining last night and wanted to share. We have just started this process ourselves, and moved into a nice rental this week. We are still moving things from the old house to the new, and it's very nearby, so that has taken alot of the stress out. We don't have to be OUT any minute, can take our time. I noticed as the old empties out, and the new fills up with all our STUFF, the old house has less appeal. I'm feeling better and better about the decision everyday, and more sure this is the right "business decision" for us. Last night, this really hit home, so to speak, as we decided to have what we like to call "CD parties" -- play a bunch of music, the kids, hubby and I all get up and dance and act like dorks. Though we were playing these CD's on this old, smaller tv/dvd combo we have, with all our stuff in boxes everywhere, sleeping on mattresses 'til the beds can get moved...it was just the best feeling. I watched my kids giggle, and dance around, smiling like not a thing has changed in their worlds, and at that moment I realized for certain--that old HOUSE was not my home, my FAMILY is my home, and was a fantastic feeling. Good luck to everyone contemplating this confusing, depressing and frustrating process. I think there really is a light at the end of the tunnel

nice post and excellent point

[needingsomehelp]

I know this is one of the hardest things to do--especially when we had such high hopes, so-called "dream homes" and memories all around, but I just saw a silver lining last night and wanted to share. We have just started this process ourselves, and moved into a nice rental this week. We are still moving things from the old house to the new, and it's very nearby, so that has taken alot of the stress out. We don't have to be OUT any minute, can take our time. I noticed as the old empties out, and the new fills up with all our STUFF, the old house has less appeal. I'm feeling better and better about the decision everyday, and more sure this is the right "business decision" for us. Last night, this really hit home, so to speak, as we decided to have what we like to call "CD parties" -- play a bunch of music, the kids, hubby and I all get up and dance and act like dorks. Though we were playing these CD's on this old, smaller tv/dvd combo we have, with all our stuff in boxes everywhere, sleeping on mattresses 'til the beds can get moved...it was just the best feeling. I watched my kids giggle, and dance around, smiling like not a thing has changed in their worlds, and at that moment I realized for certain--that old HOUSE was not my home, my FAMILY is my home, and was a fantastic feeling. Good luck to everyone contemplating this confusing, depressing and frustrating process. I think there really is a light at the end of the tunnel

Thank you Martha for the encourgaging post! I completely agree with you. We walked away from our house at the end of May, and moved into a rental home. It was so sad to walk away from our home, that we had made a home, where our little girls had taken their first steps, and where we had made memories. It was hard to walk away from a home that we had put work into, and really made it our own.
With that being said however, after two months of being where we are now, we are amazingly happy here. The other house is a memory (kind of), and this house is our HOME now. My husband and my children are here, as well as our pets.
When we were contemplating letting go of our house, I realized one day that the house that we owned, would mean absolutely nothing without my husband and my two girls. Realizing that made our decision much easier. The most important thing to us was to get into a stable environment, for our children. As a result, my girls have a happy, much less stressed mommy and daddy!
It is a hard decision to walk away from a home, but for anyone that is doing this, know that things do happen for a reason, and even if you can't see that reason right away, there will come a day when it will just hit you, and you will know you did the right thing!! Good Luck!!

[csrhjr31]

Thank you so much Martha and Needingsomehelp. That post just made me feel better.

My husband and I are in a similar situation. We are in the process of surrending our "dreamhome", and painting/moving items over to our new rental house. As I started packing up my son's nursery, I have become so emotional, questioning whether we made the right decision.

Hearing from families who are in similar situations, makes me feel better. Thanks again for posting!

[hnhlvr]

Hi,

My husband and I moved out our home a few months back after he lost his job. It didn't take us too long to go from crying over losing our dream home to an immense sigh of relief at the lifting of all that burden a huge mortgage and high heating/maintance bills had placed upon us.

Our current rental isn't idea, but it's in a nice neighborhood and it's safe and we're so much happier at the small amouont we're paying.

It's really nice that this thread was started. Foreclosure can really be a GREAT improvement to one's life if the person focuses on providing a better future rather than just focusing on what they had in the past.

[Frogge]

This is wonderful to hear, Martha.. you are an inspiration. And yes, ITA -- I would live anywhere with my family. What makes us happy and secure is all of us together and enjoying each other.

BTW- my family likes to sing at the top of our lungs in the car, too.. people think we're nuts.

[Faithfullymovin]

I needed to read this comment

We are just starting the processes of walking away. My husband's job was being elimanated. He found a good job out of state (GA, we currently live in Michigan). The economy in this state is so bad. He has been in GA since May and we have been trying to decide what to do with our house in Michigan. We have found out that we are so very upside down on our house (between 50,000 and 70,000). We bought it about 5 years ago when my husband's job transferred us to Michigan. The price was overly inflated. Now the market is bottoming out. We were talked into an ARM with the promise that we could refinance before it adjusted. So when we tried we were told that we owe more than the house is worth and we could not do it. My husband took a pay cut when taking this job. The company he is working for has provided temp housing but it is running out. We have charged up our credit card to about 40K. The company he is currently working for is provided movers to move us, which is a blessing. We have rented a nice apartment in GA and will be moving into it at the end of this month. We will not be able to make our house payment this month and it is scaring me to death.

I know that we need to file BK. We do not want to keep the house. We are just so burden with debt that we need some relief.

I have some questions on "walking away" from our houses.

Do you just give your house back to the lender (mail keys back)?

How did you do it when you walked away? I need alot of advice.

Thanks,:

[breezyday]

Same thing happened to us!
Sept. 2005 we where stupid & took a ARM with a low teaser rate.
The loan officer said enjoy the low rate for 3 years and before it comes due we will refinance your loan to a fixed low interest rate. A little higher then what your paying now but still within your budget..
Now we owe more then what the home is worth. No equity, NO refinance!
Sept our ARM changes and our rate will jump several points and each point is a $100. A month.
So we fill like fools! Feds will help the banks but where left homeless?
Our fault> we shall had known better!
2 years ago we put the house on the market.
Can’t sell it, now my husband is missing work because of his back.
We have hit the credit cards praying our house will sell, charging about a $1000. A month just to make ends meet! Now the taxes & insurance is due and we have no money!
So good-by house!.
Only thing I regret? Not leaving sooner!

[Faithfullymovin]

Thanks for the reply. Its good to know that there are others in our same boat.

Have you found a place to rent yet. We have found one before our credit goes bad.

I am just scared of leaving the house. We are moving 700 miles away. We have friends that will mow the grass and check on the inside for us, but until it is out of my name I have been told we have to do this.

We will be moving next week and boy am I anxious. I think being so far away will help a bunch.

Keep me posted on your progress and I will do the same.