Legal Question in Real Estate Law in Missouri

Currently, I am in the fight of my life to keep my home of 17 years. I am a 57-year-old woman who suffers from major depression and arthritis. In September 2010, I lost the job I held at a bank through layoffs and things went downhill after that. I couldn't find a job because of my worsening condition and unemployment ran out in March 2012. For months I had no income and, needless to say, got behind in everything. In May of 2012 I received a disability determination and payments didn't start until October. The amount is only about half of what I made while working. And even though my mortgager (a BIG bank...) agreed to a special forbearance last year, I don't qualify for other assistance, e.g., loan modification because it says I owe so much. I have contacted the CEO of the bank, the White House, HUD, HOPE, and several local agencies. The bank told me that the investor in my property is Ginnie Mae. I wrote a letter to the president of Ginnie Mae a couple of weeks ago but have heard nothing back. Is there something else I can do to keep my home? I have no savings to speak of to give the bank what they say I owe. Are there any legal options or actions I can take? I don't want either a short sale or deed in lieu because I have nowhere else to go. My credit is shot to heck. There is only so much you can borrow from friends and relatives. I am pretty desperate and any advice would certainly be helpful and appreciated. I'm a wreck...

Asked on 1/14/13, 6:36 pm

1 Answer from Attorneys

Anthony Smith LawSmith

It sounds like you need to find a boarder, and some way of making cash. If your house has more than one bedroom, rent the others out. It may make financial sense for you you rent the entire house out for a year, and live in a small apartment somewhere.

You should consult directly with counsel (and your case Esker worker) before choosing a course of acton, as they may effect your disability. You might also consider selling furniture or other belongs that you can live without. An Emmott room or two ais better than no home.

You might check with your church or other charity to find a suitable housemate, or other assistance.

Good luck and don't give up hope.

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Answered on 1/15/13, 10:26 am

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