All Forum Posts by: Vivian Jackson

That would be great if that happened for me like it did you on the much lower amount. I will definitely get it in writing, the lawyer that I spoke to gave me some pointers, but in the end I asked him to represent me if possible. For which is said he would. My main goal out of all this is NOT to claim bankruptcy. I guess it's good that it is a local credit union. I hope it works out. Thanks again.

I see. Well we don't have a health plan right now, so I guess I should get one. We have maybe 300 mnth left over, but I had to defer my loan payment for school because of all this. I lost my job back in January and found another one but it doesnt' pay as much. Not that the bank cares about any of that.

just cracks me up, at how things end up. I figured that's why they were looking. Good luck on getting anything is what I say.

If I could move to another country. I would. I have a passport, but there really is no where I can immigrate to.

hi -- it's me again. -- It's through a credit union there locally. So I've been dealing with one person this whole time. I'm the only one on the house in FL. My husband and I are both on the deed on this STL house, but financial wise (i had better credit) so the loan for 2nd house (which is now our primary) is all in my name. We have only had it for a year, so there really isn't that much equity in the home. I know about chapter 7. I make too much (barely) we have a son.

"I hope in your listing agreement you had a provision where you are not obligated to go through with the sale unless the lender gives a waiver of deficiency approval letter before closing"

This was said by a man above. No, I don't believe I have that. And the bank (local credit union there) has told me that I will have a mortgage deficiency. They just told me yesterday that they will want to see my bank statements and 6 months of paystubs again. Which is fine. Originally they were trying to help us (supposedly) through the loss/mitigation which is the same guy I've been talkign to, and it was taking so long, I finally called a realtor in hopes to short sale it. I wasn't sure what else to do.

I'm talking to the Florida lawyer on Monday to see if he can help me negotiate with the credit union this 48-60k mortgage deficiency. Otherwise, I'll have to do a Chapter 13 I guess. Kind of crazy, I still have a great credit score, but won't after that.

I appreciate all the advice on here. I'm hoping it will work out.

Also- yes I'm aware of the taxes I will have to pay to IRS for the forgiveness of debt (if that happens) it is seen as income. I'd rather pay taxes on that though, than the entire amount. Just burns me up inside.

Thanks again everyone. Great advice for me.

Live in STL, Mo, house is in Jax, FL. Had to move due to layoff in 2009 from Jacksonville. Due to many things, I'm now behind in payments (have renters) but there is always something wrong (air conditioner) for repairs. I've yet to receive a full months rent unfortunately. As of March 1, I stopped paying the mortgage. The bank says I will have a mortgage deficiency of 48-60k. I bought the small 1500 sq ft home for 179k in Oct of 2007. I think I have 12k in equity this was a 100% finance. I had an offer for 85k for the short sale. The bank said this morning they are still deciding on what to do (which means they will probably take the short sale, compared to foreclosure)

But how can I get out of the mortgage deficiency? Or can I? I can't pay back this huge amount that they want. There is no way. Can they garnish my wages? I don't' have any assets, two cars that I'm paying for, I bought another house in March of 2011 for way cheaper (this time if one of us gets laid off, we can afford the 750/mnth payment) How can they come after me other than a collection agency? what are my options? I have a lawyer picked out in Florida, but I just don't know what to do. Can I just not pay it and it goes off my credit after 7 years? It's either that or I claim bankruptcy I guess. I'm really at a loss, so I'm looking for some ideas from the group here.

thanks