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Hello,
I have lived in a home for 20 years, we refinanced a couple times. My brother and myself were caregivers for my Elderly Father. My brother passed away on 2/3/09 then my Father passed on 3/5/09. I am 50 on disability and unfortunately, cannot afford our 1150.00 mortgage by myself. I receive 1054.00 on SSI disability. I am currently only one month behind, and I believe that I am not upside down on the loan. Any ideas on how I could posssibly save my home? All suggestions would be appreciated. Regards-Skyler
First and foremost, run, don't walk to the bank immediately. Banks want to avoid foreclosure, but they can't if you don't talk to them. Talk to a Realtor and get a Comparative Market Analysis, CMA. This will help you truly know what you are dealing with as far as the value of your home wither you refinance or have to sell it. Maybe a refinance can get your payment down significantly but it appears to me that you still will not have enough money to keep the home, pay utilities, insurance, feed yourself etc unless you increase your income. Have you considered getting one or more housemates? Let me know if you have further questions.
DSSI is definitely income but remember your friends name is not on the house so you need to do a formal contract with him stating how much rent he is going to pay and what the terms are. This will serve a secondary purpose in that he will know what's expected of him and it will help to keep you friends. Then you can show the contract as a form of income. If what he pays you, does not cover all your expenses with a little left over, get another roommate.
I'm sure there are programs for persons with disabilities but not my area of expertise. Check with Social Security or a Social Worker or try a Web Search. If you find anything related to housing, Skyler, please let me know.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | I love smart people..Thank-you so much for your answer. I do have a life long friend who is willing to move in and both of us work on the pymts. He is ondisability for a bad back, so neither of us have jobs...But, we do have income. Do you think a bank would consider disability as a form of income? Or do you know if there are any type of assitance plans for people with disability? Thanks a bunch! | ||
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Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
Expertise
A lot of people who want to move to the mountains don't really realize what it might involve. For instance, here in North Georgia, if you want a mountain view, you may have to drive up very steep roads. Will you have well water (That's usually good!)? Do you speak septic tanks? Have you considered that if you want really want to get away from it all, you'll do it on a gravel road? What's difference between a Log home and a Log Sided home? How can I tell? Who takes care of the house when you're not there? Where can you stay to check it out? This is a very popular area for second homes and investment properties or when you finally decide to get way from it all, I can find your perfect property. I can answer questions on North Georgia Mountain living, housing, land, amenities, and activities. We handle a lot of foreclosed properties in our office so I have become a Certified REO Specialist. REO means Real Estate Owned and is the industry name for a Foreclosure. It refers to "owned by a bank or other corporate entity". If it involves an area of expertise I don't have, I can probably tell you what kind of an expert you do need.
Experience
We've had property in the Ellijay area for over 10 years. My husband, who is a Civil Engineer and Appraiser, and I built our own log home. We researched log homes and North Georgia for three years before choosing Ellijay. Because of the building experience and being married to an engineer/appraiser, my real estate experience is a bit more extensive than average. I also am an education freak believing that the more you know, the better off you are. My husband and I both like photography, so we drive and hike all over the mountains looking for pictures.
Education/Credentials
MHA, CMA, Licensed Realtor, Associate Broker, e-PRO, GRI, Certified REO Specialist. Realtors are required to have 24 hours of continuing education every 4 years. In the last three years, I have 180 hours so far!
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