Local Housing Market For Mobile Homes Has Crashed

Mobile homesHello all,

I’ve been reading a few weeks, and wanted to intro myself a bit.

About 4 years ago, I bought a mobile home with a partner from what turned out to be a real rip-off company. We had planned to basically “rent” from each other for several years, and then sell when we both reached a time for moving out of state. The plan was to use her income and mine to keep up the home and pay expenses.

It took a few years, but when I was finally able to refinance with a regular bank, my home-partner was back in school for a master’s and not working, so I refinanced in my name only. You can no doubt guess what happened then – after she was done with school she bailed on me (and also moved out) and I have only verbals that she ever agreed to be part of this.

On top of that, the local housing market for mobile homes has crashed, and though I owe about $32,000 still on the home, I’m told by realtors that unless I can sell for $12,000 or so, it’s not even worth putting on the market. An additional problem is that since it’s only MY income maintaining the place, frankly it’s falling apart. Last I estimated, it would take at least $5,000 – and perhaps as much as $10,000 – to make even basic repairs such as reroofing and so on.

I’m also paying 2 credit cards (one $4,000, the other $3,000), the balances of which grow as I have to make small emergency repairs (for instance, the hot water heater went out last month).

I spoke briefly with a few bankruptcy attorneys, and they told me under the new bankruptcy laws, I “make too much” to file anything but Chapter 13. I’m not sure if Chapter 13 would do me any good anyway, but I guess it would at least prevent the bank from sueing me for the balance of the mobile home (since I’m told mobile homes aren’t treated like stick-homes legally, and if for some reason I can’t or won’t keep up my payments on the home, they will foreclose on it, sell it for a few thousand dollars just to get it off their books, and then come after me for the difference – including wage garnishment).

I’m really feeling stuck! If I try to stick it out and pay down the $20,000 to sell it, by then it will be such garbage from lack of major repairs that it may be unlivable and unsellable. I’m making my payments now, but if I borrow $5000-10000 to make repairs, I won’t be able to make payments anymore. If I file Chapter 13, I’m not sure what will happen, actually. The job I have now is a union job paying WAY WAY over the wage-market for the work I do – meaning that if at any time I get laid off, assuming I CAN find another job, my income will drop by half – at which point I also won’t be able to make any payments.

Any ideas? I’m feeling really stuck, like there’s nothing I can do except wait for one of several axes to drop. And that’s how I’ve been living for about 2 years now.

Thanks!

Gert

Has Anyone Had Their Home Foreclosed?

Hi
I am kind of new to the blog and haven’t posted until now. Has anyone in the blog had their home foreclosed and what was the effect it had on your life afterwards? My house may be sold in foreclosure soon.
Debbie

It sounds kind of rough going right now, to say the least. I don’t fully understand your situation, but if you are about to loose the house then you might want to look at bankruptcy as a solution. This will save the house from the foreclosure. As to your other debts, if you could lets us know a little more of the situation then we may be able to give you more learned solutions. In just about every city on the US there are investors who specialize in buying pre-foreclosure homes. Look in the local newspaper or weekly classifieds paper for those “WE BUY HOUSES!!” ads…then call 5-6 of them. Let them know they are competing to buy your house. As long as what you owe is less than the retail value of your house, you’ll find a cash buyer and avoid the foreclosure.

Unfortunately I think I waited too long. It is supposed to take place on Monday. thanks for the info though. The biggest problem i have is my mortgage. i am catching up on the other bills. I was laid off earlier this year. I got my job back but the number of hours i work varies-previously i hadnt gotten many hours. It seems to be picking up now. I would like to know if anyone in this blog had their home foreclosed and what was it like for them afterward.

 

Help! I’m Carrying 20K in Credit Card Debt

credit card debt

Help! Im carrying 20K in credit card debt, have no reserves, and got laid off this week. I have COPD(chronic pulmonary lung disease),Asthma,Allergies and Sleep Apnea! A good portion of the debt is for pharmacy and doctors appts to treat the symtoms monthly, and then the rest is other charges…What to do? Any suggestions?

That debt is extremely worrysome, but your health issues seem a lot more important. Is this lay- off temporary? Or can you start looking for another job immediately in your field or career. The health and the job may be your number one priority now. Are there some of your less seious symptoms of the health problems that can be treated holistically and more cost effectively than standard western medicine? It’s not always the best. I can only assume you did not have a health care plan, either that or it was the complete pits.

Do your health problems keep you from functioning at a normal level at work and your everyday life? If so maybe you could be eligible for some disability benefits through your state and get some help for your health care bills. It may be worth looking into. I don’t know if you’ve done that yet. I’m not a doctor, so I don’t know how all of your health issues are viewed as to whether they are debilitating enough for you not function normally.

Lest anyone think there is help for the disabled in this country besides Social Security Disability (you must have credits of insurance that are recent), Medicare, and SSI (Supplemental Security Income), which is welfare for the disabled, there is none. A few pharmaceutical companies offer help if you are extremely poor. No, welcome to the U.S.A. It must be a character fault if you are ill. Since it is your fault, I don’t care if you starve and have no retirement funds. I have SSA. I have private disability insurance. I am in bad shape! I would like to know how the European Union deals with this. I used to hear similar stories but I felt ‘hey, it probably won’t happen to me. I better worry about marrying!’

Ha-Ha! You may be right. You may be wrong. What do you suggest? What details would you need to know whether it is better to file for bankruptcy protection or negotiate which course to settle debt? I would need more facts. I think, though, that financial stuff is personal. Different people may rationally choose different outcomes depending on their personalities. I can do things do today I could not have considered when I was quite ill. Also, perhaps we should brief state our background. Defaulted, bankrupt, negotiated.  Just to put in my 2 cents (that’s all I have these days!) I’m divorcing my dead beat husband, get no child support, have a below cost of living income,  health issues and still don’t want to file bankruptcy – have you looked at all other options!?

Actually this is the first time i try to get help from internet regarding my debts and the reson is that im so desespered of get out of my debt and im risking to be in prison if i did not pay my credit cards debt.
Kindly can i get some advice how to pay my ccs. i have 3 cards and i spend all of them and imin debt of 27000$ without interest rate. I am unable to pay my credit cards min. monthly pmt. I will continue to pay my mortgage, but can’t keep up. Today I am 30day past on one credit card and falling quickly on the other.

Just got my chapter 7 release from the bankruptcy court. Of course every case is different, so I don’t advise it for everyone, but it’s the best thing I ever did. Best to check with an attorney for a free consultation. The banks and collections people will never advise you of what’s possible, they just want to make sure they squeeze everything they can out of you so you need your own advocate.

 

I Do Something Similar And It Really Does Make A Difference.

differenceI do something similar, and it really does make a difference.

I pay all my bills twice a month, as soon as I get paid. I divide all my payments in half (plus add $10 extra to each CC minimum) and pay that amount. The card I’m working to pay off first gets every other spare cent. By paying twice a month, my debt has really started to decrease much faster than before.

I highly recommend this practice–it does reduce the daily balance, so it helps drop your balances faster. It may take a little juggling to get it set up at first, but it’s worth it in the long run.

If you, like many people, are just having a hard time paying your bills at all, start with the minimums. It’s all about doing what you can to get rid of this albatross we’re all carrying.

If you are concerned about the little bit of interest you save this way, why not simply pay that extra $20.00 with your regular payment and save even more.

Hopefully, you would not wait until the due date to make your payment. Many things can happen, including unscrupulous credit card providers CLAIMING that they did not receive your payment in time, and therefor costing you a late payment charge and extra interest.

I’ve never tried that since I have enough problems figuring out how to pay at all. I have a horrible time bugeting. We are fairly backwards using about half of our income on our mortgage. I’ve paid my credit cards early sometimes and then they want to be paid again because they consider that to be an extra payment on the balance due. Then I need to scrap up EXTRA money on top of what I’ve already paid. Does that make sense?

Maybe you do something differently? I posted this a while back but will re-post it.

This has been my stradegy for the last year and it is working wonders – My credit score is a solid 750 now and my debt is really melting fast. So hear it goes .

I pay my credit cards 4 times a month- it is intersting to manage but you will see a benifit the very first month and every month thereafter.

You will save a ton of money in to be charged interest and qucikly beat down your principal.

Any questions feel free to ask.

Call for papers, poems, stories, critiques etc

gay wedding cakeTo The Exclusion of All Others: Queers Questioning Gay Marriage

This publication will offer differing voices as the fight for gay marriage threatens to completely envelope all other struggles in the queer community. Inspired by Against Equality: Queer Critiques of Gay Marriage, this publication will focus primarily on Australia and the specific effects the marriage campaign has on the queer community. This publication is aiming to explore issues such as the normalising of the Sydney Gay and Lesbian Mardi Gras, homonormativity, the pink dollar, white washing of the queer community and the erasure of trans* peoples voices.

Ultimately this will be a publication that tries to carve out a queer future that isn’t campaigning for a state sanctioned piece of paper.

Seeking works from far ranging topics by folks from all across our communities. Please circulate widely.

Some topic ideas/areas of inquiry/inspiration:

–       Trans* people and the marriage debate

–       Racism and white privilege in marriage

–       Normalised bodies, ability and who is “marriageable”

–       Queer struggles for racial and economic justice

–       Indigenous peoples’ rights

–       Will it “get better”?

–       Capitalism, the pink dollar and class privilege

–       Gender and gay marriage

–       Intimate partner violence

–       Patriarchy

–       Homonormativity

–       Heteronormativity

–       Feminism

–       Intersections of oppressions

–       The politics of inclusion/incorporation into oppressive institutions

–       Marriage and law

–       Speciesism

–       Polyamory/open relationships

–       Family and children

–       Queers in favour of gay marriage

–       Future: reformist vs. transformative changes

Please note these are ideas, feel free to create your own.

Closing date 24th August 2012

Academic papers will potentially be peer reviewed.

All submissions need to be in word format, 12p Times New Roman. Include name, short bio, and page numbers.

If submissions require references please use Chicago with endnotes rather then footnotes. For any reference enquirers please contact us.

Submit to: totheexclusionofallothers@gmail.com

Please note that submissions can be anonymous.

Due to limited printing capacity, pieces that are not accepted for printing will be made available on the website.