Behind In Mortgage Payments And Losing The American Dream

As many people can eye from watching the television and reading the newspaper many people are in jeopardy of loosing their American Dream…the homes which people have worked so hard to acquire. We, my husband and I are 2 of those people. We could not afford to prefer are own home until about 4 years ago, we raised our children in small rental apartments or houses. Most of the time with our son and daughter sharing the same bedroom. As the kids got older that wasn’t going to work any more, so my husband and I started working more hours and saving money, cleaning up our credit to perfection. We did everything that we could to get a home for our family.

In Feb. of 2003, we accomplished our goal, we purchased an affordable 3 bedroom / 2 bathroom home in a nice area of town with a graceful fresh water canal in the back yard for $94,000. The home was built in 1975 so it wasn’t perfect, but to us it was the home we hoped and dreamed about for our family to live. It was amazing for the first time we could decorate our house the way we wanted, we didn’t have to live with pasty white walls, we could have pets…WE OWNED A HOME!!!!

Life was typical for our American family. Our teenagers could invite their friends over, there was enough room in the yard to play sports, fish in the canal, or just hang out and relax in lovely sunny Florida.

Until life changed, on August 13, 2004 Hurricane Charlie made a direct hit on our community. Our dream home was damaged but repairable, Thank God, but financially we where in inconvenience. As a result of the storm my husband had lost his job, as a person working in the school system I hadn’t worked all summer so let’s say our reserves were little already. As I already said we are a typical American working class family, living paycheck to paycheck..

After the storm we had lots of help in the community especially from The Salvation Army. When I went to FEMA and asked for assistance…I got NO help at all. I asked if they could support with paying 1 month mortgage payment, they couldn’t…but they where willing to put a very expensive trailer in my front yard. So I contacted my mortgage company and they placed us with special hurricane assistance department, the very nice women advised me to pick up 4 months late in my mortgage and they would help us. By that time, both myself and my husband were working and we could pay the monthly payment but we were slow with about 1 1/2 months mortgage payment. They mortgage company proper advised us to derive 4 months behind and since we where at the mercy of those helping us in our community we listened. Got a subordinate mortgage which wouldn’t have to be paid until the end of the 30 year loan and everything was wonderful!!!

A couple months later we got a notice stating that our mortgage would be going up $150 per month because of the homeowners insurance and property taxes increasing. That was alright we could afford it, my husband and I where working steadily. We had both found better paying jobs…life was nice again. The wonderful American dream had come back, going to work, fixing nice meals for the family, going for weekend outings…a simple life but that’s all we wanted.

Financially, life was going good, so it was time to correct another plight that occurred as a result of the hurricane, we had gotten behind on the credit cards and decided it was time to refinance the house and pay off that debt, we paid off the car payment and figured that since we had stable employment we could handle the increase of our mortgage. We where advised by a different mortgage company that it was a good choice to pay off our debts, increase our credit score, etc., etc. Of course when we refinanced our credit accumulate wasn’t that titanic…you see the prior mortgage company had advised us to get 4 months late and it appeared that we where in pre-foreclosure at that point in time.

As I stated before, we could have paid the mortgage prior to becoming 4 months behind, we did not pay under advise from a mortgage professional. When we refinanced we ended up with a very high adjustable interest rate…but it was worth it cause we got our debts paid off. The mortgage did increased and life was nice…for a while…until I lost my edifying paying job. Luckily we had a exiguous cushion in the bank and I was able to collect unemployment, I took the first job which would hire me at a much lower pay rate and we honest started living the best we could…with a few cut backs. But, you got to do, what you gotta do…THAT”S LIFE!

At the end of 2006 we received another letter from our mortgage company stating that we would have an increase in our escrow, another $100 per month…our mortgage has basically double from it’s original amount. Unfortunately, our income has not and with the brand of gas, food, electricity, and everything needed to survive increasing I decided to look for a better paying job. In April 2007, I found a full time job which would pay me more per hour and would help offset the increase in our mortgage. I knew it wasn’t going to make me rich, but I figured it would be a help. I had to do the right thing to pay my bills properly.

Life was getting rough with the increase of gas prices, and my husbands job requiring so powerful driving. My mind was set on…we need more money, we need a better income, we need to do the right things to keep our American Dream going.

Heres where the nightmare starts, I started my new job in April, not unprejudiced a job but a step toward my career, you see I have been going to college for over 10 years trying to get my teaching degree…the other dream. This child care center was highly recommended to me it offered a higher income and unbelievable work atmosphere…it sounds great doesn’t it? By the end of May most of the children graduated the program and would be heading to kindergarten, the school attendance dropped considerably as a result I have been working only 30, 24, 12, even 3 hours a week a my wonderful highly recommended FULL TIME job.

In the mean time my husband lost his job and was denied unemployment (that’s another myth for another time). As a result we have been living off of next to nothing for the past several months. He will actually start working next week at a lower paying job that he is overqualified for but it’s better then nothing.

As I sit here today, we are almost 4 months behind on our mortgage payment. I have spoken to my current mortgage company several times trying to get assistance. I have spoken to numerous other mortgage companies trying to refinance or salvage information to know and understand what to do. I have searched for a new job, second job any way to make additional income. My husband has been looking for a job, traveling miles spending money like crazy on gas. I have contacted several social service agencies in our community with very little success. We make too much money, we don’t make enough money, they don’t help with mortgages, I can’t go rent another house yet cause I still own this one. When I asked the mortgage company “How long do I have before I have to leave this house? ” that can’t say it verbally, I have to wait until I get the letter in the mail.

My husband and I are slowly becoming physically and yes mentally sick, we can’t sleep. I go to sleep crying, I wake up crying then have to pull myself together to go to work…for how many hours? When will they tell me to go home, do I bring lunch or not? Do I go home and pack my belongings or will some miracle happen where we will be blessed with enough money to pay at least one month of the mortgage and terminate or at least slow down the foreclosure process.

Will we become homeless? Thank God the kids are young adults and have their own places to live. What will happen to my kids pictures, the keepsakes I inherited from my grandparents? Who will take my pets? How mighty of my life will I fit in my mini van?

The American Dream…we work so hard, then what happens? Does our government really realize that the working class people need help? Will they make the upright choices with the mortgage reforms to help the working people? Will these changes happen soon enough so maybe, just maybe, I won’t loose my home?

What’s the answer to this nightmare? WHEN will it END? HOW will it Ruin?

Are we impartial some of those obscene lives that people are taking about?

DO WE JUST STOP TRYING TO SUCCEED!!!???? And give up on our AMERICAN DREAM…

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