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Old 08-16-2002, 06:22 AM
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Foreclosure

Has any one out there gone through a foreclosure on their home. If we can't come up with about 15,000 in 2 weeks our lender will be initiating foreclosure proceedings. I would welcome any advice.
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Old 08-16-2002, 08:02 AM
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We went through forclosure a few years ago, we also lost a motorhome and a minivan all at the same time. There wasn't much to it really. We moved out before they came in. Generally you'll have 30-90 days before anything really happens. They have to go through court proceedings and issue an eviction type notice that has to be served. Etc etc.

The one good thing that actually came out of it all was that the following spring when we filed our taxes, we ended up getting a refund of $12,000.00 because of the losses we incurred. If you get yourself a good accountant you may be able to benefit from this hardship as well. Noone wants to lose their home, but sometimes things just happen. I think I paid my accountant $150.00 for his service and he is on the up and up, he just happens to know what he is doing!

I wish you the best of luck in a heartbreaking and difficult situation.
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Old 08-17-2002, 08:36 AM
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Thanks for the encouragement. It helps to hear from someone who has been there. I would never have thought about the tax refund thing. I appreciate you taking the time to post.
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Old 08-17-2002, 02:59 PM
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Haven't been there myself but know that many of us could be in almost the blink of an eye. May God Bless you and your family.
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Old 08-23-2002, 07:28 AM
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Well so far it looks like things may work out. We have found a company that says it can probably lend us the money we need to stop forclosure. We will know by the end of the week if it all works out. A special thanks to all those who have said a prayer for us. Please keep praying, though, we are not "out of the woods yet". I will let you know how things turn out.
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Old 09-23-2002, 11:07 AM
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Praise the Lord!! Through much prayer and a wonderful Loan Broker we were able to get a home equity loan. Everything is paid off! We have only one payment, other than utilities. If you live in Oklahoma and ever (God forbid) need the name of an excellent loan broker, let me know. This guy keeps at it till he finds someone who will loan you money no matter how bad your credit is. Our interest rate is very good too!

Thanks again for all the prayers and support.
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Old 09-23-2002, 11:40 AM
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So glad everything worked out for you. Now you can breath again. Have a great day.
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