It is so difficult to write this.
Baring a vast amount of money dropping out of the sky or a good paying job, I should be in foreclosure by the end of the summer.
Like thousands of other homeowners who are either unemployed or are finding out their trial modifications weren't accepted, I received a huge mortgage bill in the mail almost two weeks ago. Again I turned to my friend to see if she could intervene on my behalf with my mortgage servicer, Select Portfolio Servicing (SPS).
While she tried her best, I received the following response from my her on Monday:
"I have tried to push as much as I can.....seems that SPS is really unwilling to reconsider---I am so sorry---I fell terrible and wish I could do something more."
My friend's e-mail also included a response from an SPS representative:
"We have given the borrower 6 months which is 3 months over what we normally allow. The only option at this point, is to sell the property. We can look at another plan only if the customer is willing to sell."
Well there you have it---that's about the whole shooting match.
I know you're thinking that this sucks---make no mistake, this doesn't suck----losing your job sucks. This, my friends, is a game changer. This is life altering.
If SPS thinks that I'm going to do their job for them and have people walk through my home further ripping out my heart and compromising my dignity, they are sorely mistaken.
This is going to be difficult enough, I'll be damned if I'm not going to do it with a little class.
Naturally, I'll be taking you all along for the ride.
Every post won't be about foreclosure. I plan on living my life over the next 20 or so months. What I will do is provide a close up of the process, my continuing quest for employment and now my hunt for a new place to live.
Yet I have a feeling that my story is only the tip of the iceberg.
If I'm right, and I hope that I'm not, I believe this country is looking at the next wave of the housing crisis.
Many people are about to lose their homes. Make no mistake, it will affect you even if you're not being foreclosed upon---too many foreclosures drop your property value.
Not only will my American dream be up in smoke, yours will too.