My husband has worked for LM since Feb. 25 of 2019. He received notification that due to funding cuts, his current job will end on May 22. He then will receive a one time lump sum payment amounting to six weeks severance pay. I assume our health care insurance will end that day as well. In the documentation it says the severance might not be paid until March 31, 2021 which is scary and may mean he will have to apply for immediate unemployment benefits if they can with hold his final check for that long. He has been applying for jobs for about two weeks already and is not seeing much local interest. He applied in Connecticut, which appears to have a lower housing cost, although other things are comparable or a little higher (like transportation and food). The trade off is the ability to travel to some really cool and interesting nearby cities and states by car and not having to fly to reach more exciting places that are six or more hours away by car. Also, we would be back in a more humid landscape at sea level which would probably help my muscular inflammation and joint pain.
Of course this is not where we wanted to go when we were able to leave Co. in 2022 but until the BK13 ends, it might have to do! We are not sure if any relo package is offered.
We are supposed to have a $75,000 homesteader exemption in our state which should mean the trustee can't just take all the money if we have to sell the house due to a job relocation. According to recent home value estimates, we may have that much equity built up already. Of course we are in the middle of an economic resession and health pandemic which may not end until 2022 or when ever a vaccine is implemented. Which means our house may already be underwater. It is clearly too soon to tell.
Our mortgage is increasing yet again to more than $2300 and with the iron clad solar panel lease that's more than $2400 a month! The stimulus money ($2400) will buy us one month of mortgage payments, which would delay the start of late payments until June/ July (provided no severance is promptly paid) and then of course foreclosure begins three months after that which in turn means bk13 is no longer feasible. (Bk7?) My husband can't really take a huge pay cut and continue to pay both the trustee and the mortgage. Moving to an apartment wouldn't save us anything and would mean we might end up in a high crime risk area.
We are truly frightened that the only way out of here and this situation is another rip off for us!
Of course this is not where we wanted to go when we were able to leave Co. in 2022 but until the BK13 ends, it might have to do! We are not sure if any relo package is offered.
We are supposed to have a $75,000 homesteader exemption in our state which should mean the trustee can't just take all the money if we have to sell the house due to a job relocation. According to recent home value estimates, we may have that much equity built up already. Of course we are in the middle of an economic resession and health pandemic which may not end until 2022 or when ever a vaccine is implemented. Which means our house may already be underwater. It is clearly too soon to tell.
Our mortgage is increasing yet again to more than $2300 and with the iron clad solar panel lease that's more than $2400 a month! The stimulus money ($2400) will buy us one month of mortgage payments, which would delay the start of late payments until June/ July (provided no severance is promptly paid) and then of course foreclosure begins three months after that which in turn means bk13 is no longer feasible. (Bk7?) My husband can't really take a huge pay cut and continue to pay both the trustee and the mortgage. Moving to an apartment wouldn't save us anything and would mean we might end up in a high crime risk area.
We are truly frightened that the only way out of here and this situation is another rip off for us!
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