Thursday, April 24, 2008

More on the house

I think I might have mentioned that we got the letter from Sovereign telling us they weren't going to accept the latest short sale offer. Now we're on the short track to foreclosure. (For those who haven't been keeping score, we're no longer living in the same state as the house, which has been up for sale for 14 months now.) I called the foreclosure guy at Sovereign whose number I had, he doesn't know how long it will take until the sheriff's sale. Meanwhile, we've been paying insurance and utilities on the empty house, to keep it saleable. Now that a sale doesn't look likely, we're probably going to stop doing that. Our insurance is paid through July, but we've been paying $130/mo. that we really can't afford to keep the empty house heated all winter. The RE agent wants us to keep it up, but why should we?

1 comment:

Mary T said...

Boy I know how this story goes. We finally did sell our house under threat of foreclosure but lost money on it. So walked away empty handed after doing all we could to fix it up for a sale with money we really didn't have either. All I know is-- at the time this happened to us-- it wasn't a nation wide crisis, we didn't have a bad mortgage we had unemployment. It can hit anyone anytime. Things did work out for us eventually, we don't own a house at this time, but maybe someday. Meanwhile we look at things alot differently--not trying to get 'more' just 'enough'. Probably a good thing. mary