I Bailed Myself Out Of Foreclosure, What To Know How?

Life was just cruising along all so sweetly. A new home, a good job, happily married and a nice family. I didn't think it could get any better? I read and hear stories everyday about situations happening to others, but did not concern me since it was no one that I knew.

One day when I least expected it…I got word that my employer gave notice that they were filing bankruptcy and I my job was being eliminated immediately. I had worked there for years and had used my special skills. Now, no job or paycheck.


I wasn't feeling well and went to the doctor only to learn some bad news that I had to go for treatments. As I drove into the driveway at home, I noticed that my daughter's car had some damages to it? Now what? I learned that someone without insurance had hit her and taken off.

Several days later, my husband decided to walk out on my family and me. Can it get any worse? The bills seemed to arrive faster and more often. Without income it became harder to pay and the late notices and phone calls started. It just seems so hopeless, but what am I to do? I had such great credit and needed a home for my family.

I prayed and asked God what to do. I needed help and knew that I had not intentionally created this situation, so I decided to be proactive and settle these matters in the right fashion.

I called my lender and was honest and up front with them. They were understanding and agreed to give me some time and to work with me. I got from them the balances past due and we discussed some possibilities.

I then contacted a real estate agent to meet with me to give me an honest evaluation. She was very honest with me and told me that what I owed was a little more than the value of the home. There were also five other similar homes for sale in my neighborhood and were not getting any traffic.

She had suggested that maybe I would have a better chance of renting the property or may be a rent to own? What the heck do I know about any of this?

I contacted a few real estate investors about what they do. Several came over and we talked. One investor really seemed to know what he was talking about and as I thought about it, it all made sense, but was he trusting, and what other options did I have as time was ticking away?

He suggested leasing the home from me with the option to buy it within a few years when the market regained more buyers. He would also makeup a few of my back mortgage and tax payments to get me current. He told me that he was going to find a renter who may want to buy it. They would make the monthly payments and do the maintenance.

We signed the agreements and I moved out into an apartment with a new payment of almost 75% lower than what I was paying. With the unemployment checks coming in and the saved money, I was able to manage to support my family and to also protect my credit.

In little more than a year, the investor called me to tell me that the renters had gotten financed and that were ready to close on the sale of my old home.

The mortgage was paid off, the home sold. My medical condition was less than was first thought and I am back to good health. A new company bought my old employer and they called to see if I wanted my job back? Oh yea, one more thing…my husband and I are going to marriage counseling. I am so glad that I decided to do the right thing. It would have been so easy to ignore it all.

To learn more about doing rent to own's and solving foreclosure situations, please visit my web site today. Thank you…

More Topics:
Marriage Counseling - The Marital Therapy Center (Louisville, CO)
Marriage Counseling. Conflict, arguing, infidelity? Get intimacy back. Call now. Boulder.

Marriage Counseling and Relationship Advice from Professional Marriage ...
Marriage Counseling and Relationship Advice, Tips, and Techniques from Professional Marriage Counselors ... Help Or Hurt Your Marriage. Beth and Tom were ...

The Family & Marriage Counseling Directory
A Directory of Marriage Counselors and Family Therapists, Live Phone Counseling, ... If you're considering marriage counseling these points will help you and your ...

Marriage counseling: Working through relationship problems - MayoClinic.com
Marriage counseling can help couples and partners resolve differences and rekindle love. ... It may be time for marriage counseling. ...