A couple days ago I finally snapped out of it when I realized that anger was probably a better coping technique than laying down and crying. They’re pretty much the same but with anger you actually get shit done.
A big part of it was that our house came up for foreclosure. Total. Shock. Financially we aren’t poor but we’re stuck in the same crap that millions of other Americans are in – our house is no longer worth what we owe on it. Banks are bailing out of the housing market and if you even cough funny on your bill they send you to foreclosure.
We had to decide this week whether to fight to keep our home of 10 years or to bail out of this ridiculous mortgage. With a business mind, it’s stupid to stay with a loan that puts you deeper under water especially with a company who doesn’t care if you keep the house or not. Emotionally, the thought of giving up on it is sickening. Like actual sick to the stomach with the “I’m gonna vomit” expression on your face.
So we’re going to fight for it. We got the money to pull it out of foreclosure and we’re going to attempt this Obama housing thingy. We had really good experiences before with FHA loans so hopefully this works as well. I know just as many people are getting fucked by the plan as are being helped by it but statistically it looks like a 50/50 shot of being helped.
The reports I read on our area said that our home values may not recover for another 20 years. We bought right before the housing boom so we gained almost 50% equity on our place in just 5 years. Now, it’s barely worth the original sales price. (Guess which price we’re being taxed on, though.)
I hereby dedicate this song to our mortgage company with good humor. Hopefully I’ll never have to say “if I were richer I’d still be with ya.”