Can someone PLEASE help us come up with ways to earn $15,000 so our house doesn't get auctioned off?

Question

We fell behind in our payments and our house is going up for forclosure in August. We are a family of six now and are happy in our home. with the struggles of school, work and availability for a babysitter, things have been more than we could manage. plus no male to help with the burden. We can work with someone on a private auto loan, or any kind of possible opportunities you can suggest. We are now employed and have a live in babysitter to help, so the loan will be re-paid promptly. PLEASE help with ideas, and possibilities so we are able to keep our home.

Answer 1

Best Answer - Chosen by Voters

Dear "miss_spunderella":

Well, losing one's home is no joke. Coming to Yahoo Answers means you'll have to take ALL advice, especially mine, with a large grain of NaCl.

As, I understand the gist, you're behind in your mortgage payments and are at risk of foreclosure. Did you get a foreclosure notice from the lender? You need an attorney, a cpa, and a counselor to help you get thru this.

Assuming, a big assumption, that you hit a temporary bump in the road, and can NOW afford your payments. Your lawyer can help you get straight with the lender. No lender WANTS to foreclose. You may have legal rights to slow the process down and make it attractive to the lender to "cooperate". Your accountant can help you understand what goes in, what goes out, and get you organized to avoid this in the future. A counsellor can help you with the emotional roller coaster thru the processes. Your local social service agency may be able to help you with a grant or loan to keep you from getting throw out on the street and being homeless.

Assuming, again big assumption, that you just need some interim financing, say to overcome some unemployment, I'd aim you at your local bank, a credit union (the website to find a local one is below), and the PROSPER website (i.e., they mediate people to people loans; website below).

Hope this helps. I'm interested how it works out for you. Drop me a note sometime. My blog may have helpful "stuff".

Ferdinand J. Reinke
Kendall Park, NJ 08824

Webform that creates an urgent email => http://2idi.com/contact/=reinkefj
Web page => http://www.reinke.cc/
My blog => http://www.reinkefaceslife.com/
LinkedIn url => http://www.linkedin.com/in/reinkefj

Source(s):

http://prosper.com/
http://www.cbsnews.com/stories/2007/02/0…
http://www.creditunionsonline.com/
http://tinyurl.com/lxu93
http://www.reinkefaceslife.com/

Answer 2

You have to pay it off to keep it from foreclosing...

If this can not be done, then a loan at this time would only prolong (and probably worsen) the inevitable.

Answer 3

Don't waste any more time, go to Legal Aid immediately and have them file bankruptcy to stop any actions.

Answer 4

Have you tried contacting the mortgage company to see if there is any way they can work with you to prevent the forclosure? have you tried a new mortgage company to see if you can refinance the house to pay off the original loan and prevent forclosure?

Answer 5

do you have any friends that would throw you a benefit party? A barbeque with a cover-charge? A themed thing where someone plays music?
Invite your friends, family and co-workers. People will show up with a cover charge, and then have an additional place for donations. If you have supportive friends who would be good at planning a party, ask them! Anyone own a resturaunt?
I would definately attend that benefit.

It might not get you all the way there but it would start to help.
NEXT: look for things to sell on e-bay. That would help more.

Answer 6

File Bankruptcy...this will stop you from loosing home.

Answer 7

I help people who face foreclosure in the state of California. Your best bet is to talk to your lender(s) and tell them that you had a financial setback and now you're back on your feet. See if they can workout some type of repayment plan or add the missing payments to the back of the loan. Trust me the lenders rather work with you than foreclose.

Since you have recovered and if the lenders are not working with you, then look for a "foreclosure bailout" lender and see if the repayment terms will be in your budget. You can also check out a website called www.prosper.com.

If the above doesn't work, then you should consider selling (regardless if you have equity).

Good luck.

Regards

Source(s):

Satar Naghshineh
California Licensed Real Estate Broker and Investor
Amiri Property and Financial Services Corp.
Irvine, CA

Answer 8

How do you expect someone to believe you can repay quickly, when you cant even pay your bills now? I understand your pain, but borrowing the money is only going to make things worse. Call your lender and see if they will tack that onto the back of the loan, and let you start fresh. It is probably your only option.
How about working another job or 2?
Good luck

Answer 9

sell stuff on ebay
ask your church for help
refinance through FHA
Sell the house ...pay off the bank..rent another house.

Answer 10

Look for stuff to sell online
Like
"free gifts for any soldiers "
"Patents for sale foot care"
"inexpensive Pontoon Boat Depoth Finder Mounting"

then sell the heck out of them

Answer 11

Have you approached the lender to see if you can work out some repayment plan? It seems some lenders are bending over backwards to keep people in their homes.

If your lender is adamant about foreclosure, do you have anything of value you can part with? Sell things online? Pick up a second summer job? Do you have friends or family that would loan you some money? Divy it up, ask everyone for $2,500 rather than the full $15,000.

You are running out of time, so take action ASAP. Good luck.

Source(s):

Oregon Realtor

Answer 12

Generally speaking, a moderate sized house has $15-20,000 in furnishings. The thing to do is to sell everything you can, or take out loans against it - automobiles, furniture, jewelry, clothing, books, electronics equipment, whatever.

You say you are now working. If you have a credit card with enough available credit, write a convenience check and pay it off out of your income. Best to liquidate any valuables first so as to borrow the least amount.

Are you sure you want to keep the house? If the amount you owe is less than the market value, you will get some cash from the foreclosure. The mortgage company just wants their money, not your money or your house. They now have a "bad loan" they want to get rid of, that's all.