Alright since I wrote the first thread, a few of my debtors have agreed to help me help them not many though, a few interest rates were reduced.
However money is and was still tight; Back in May/June of 2009 I applied for the making home affordable loan and attempted to refinance my home. I was
told by Bank Of America I didn’t qualify. I explained to them that the first time I had to make huge repairs to the house I was not going to be able
to afford it and I would walk away. The Loan advisor told me do what you feel is necessary but we will not refinance and you do not qualify for the
Making Home affordable plan.
Fast forward to Jan 28th 2010; I had a mold problem in my bathroom and my toilet kept clogging up. ( I have three daughters) So I began to save up
some money when I could to redo the bathroom. On Jan 28th 2010 I had the money to do it, about a grand. My dad (who by the way does this for a living)
and I began to tear out the bathroom. Upon tearing out the dry wall I saw that the mold problem was more extensive the thought. He advised me to clean
that out before place drywall up. So the idea now became to tear out the bathtub, sink, and toilet until the mold was cleared. After we ripped up the
floor, it became apparent the subfloor would have to come out.
So after we ripped everything out from the subfloor, bathtub, and drywall, we began to snake out the main drain to clear any and all debris and push
it into the city main. After 5 minutes into snaking it the snake wrapped around the pipe and would not become dislodged. We ran a camera down it to
see what the problem was the clay pipes had broken in two places causing the snake to leave the pipes and wrap around a tree roots. Now the pipe is
useless and I cannot pay to fix it, leaving the house useless to me.
There are other problems to like the roof is dry rotted and needs replaced, the kitchen needs redone, and some of the main tressels need repaired,
there are cracks in the foundation that if not repaired will damage the house further....
After talking with my father, making a list of the damages and how much it will cost I came to the nice figure of 35,000. (with out labor Just repair
costs) (mind you I have had the house for 5 years and the previous owners never did any upkeeps on it.) I called Bank of America and told them the
problem and asked them to help me. They told me NO... I told them fine, and have relocated my wife and kids and I am renting a property from a family
friend. I have called the bank and told them to come and get it; I am really stuck now. There are several other factors involved in the home, but I do
not have the time to go through them all, maybe at a later date.
I wanted to save the house it was our first home, I wanted it to be perfect for us, but I was forced to suck up my pride and walk away from our
Now I have asked for help repeatedly from the bank and the VA , but since I began my debtors revolt, no one will touch me because my credit score is
low... Mind you I am aware that I screwed myself, but I believe that the banks and the Feds have a part of this as well. Who knows, what will happen
but this is my second update.
The reason I feel the banks and Feds are at fault as well is this reason. The President and Congress loaned the banks a lot of money for purposes like
this, but did not watch the banks and how they handled taxpayer money. The making Home affordable program hasn’t helped anyone as you can see from
the amount of foreclosures still out there.