Friday, April 23, 2010

Update: Reprieve (for now!)

Well, friends - it ain't over till it's over. That's all I'm saying.

Last week, we were sure we were toast. We talked to St. June on Friday morning, and she said that she didn't think that we were going to be able to pull this off; that they wanted our house and that was it. She said to my husband, "Why don't you give them a call yourself and see what they have to say." When he called, to our surprise we found out that not only was there no new sale date (we had been told that the new sale date was the 26th of April) but we had been taken off the foreclosure list.

Apparently the bankruptcy filing had put the house on hold. The bank asked my husband to take the house off of the bankruptcy hold so that they could 'offer him a loan mod'. St. June said to do no such thing; what they wanted was to lift the restriction so that they could take the house. Remember, OneWest bought IndyMac at a fire-sale price; this means that they bought our loan for pennies on the dollar, which means that the profit margin on our house is enormous. They have no interest in letting us stay in our house unless we make it more difficult to foreclose than to work with us.

This does not mean that they won't ultimately take the house, but it does mean that they're not taking it right now, which is a vast improvement.

I'll take limbo. Limbo beats 'game over'.


Bustednuckles said...

Dirty motherfuckers.
I feel y7er pain honey, I had to sell two fucking houses minutes before they went to forclosure and now I li9ve in a thirty five foot fifth wheel. There is an upside to downsizing at6 times though, I got rid of a semi truck load of crap in the process.

Best wishes.


PS, never trust anyone in the mortgage or banking business, they Make used car salesmen look like Mother Theresa.



Bustednuckles said...

For a skinny little bastard I seem to have huge fingers when I type.

Bukko Canukko said...

All I could think about reading this was the lines in the Woodie Guthrie song about Pretty Boy Floyd: "As through this world I've rambled, I've met lots of funny men. Some will rob you with a 6-gun, and some with a fountain pen. As through this world I've rambled, as through this world I've roamed, I ain't never seen an outlaw drive a family from their home."

But you're musicians. You already know that.

When I first heard that song, I thought it referred to quaint bygone days of financial strife. Never thought it would be relevant to modern times. Ah, but the braying happytalk media tell us the recession is over...

okjimm said...

keep hanging in there.

jurassicpork said...

When I first read that OneWest wanted your husband to rescind the bankruptcy hold, that's the first thing I thought of: They had no intention of dealing with your guys on any loan modification in good faith. Why wait until now to offer?

Then, if he'd been stupid enough to lift the bankruptcy hold, it would've been back to the same old shit. "RESPA papers? What are these RESPA papers of which you speak, kind stranger?"

Fuck these rapacious cocksuckers, these upholstered jackals. My mindset is the same as yours: You may take my house but no way am I making it easy for your stiff pricks.

In fact, I'd consider torching the motherfucker and loading the back yard with Malathion just as a parting volley.

Sell that for an enormous profit, you rat fucks.

Sharon Peterson said...

Wondrous news! I simply could not believe the bankruptcy filing gave you only 2 weeks' reprieve.

Hold on to St. June!