So as some of you might know.. we haven't paid our mortgage for 1 year. After August was born, and then I lost my job we just feel behind on a lot of things, and the house being one of them. We have been saving our money in hopes of having a first & deposit for a rental, because we were sure that our bank wasn't going to work with us on keeping the house.
But after weeks and weeks of not hearing and then hearing from them and then another 3 weeks and then another 3 weeks in between communication with them.. we have finally been approved for a loan modification.
Basically, we start over. We aren't late on the 12 months we haven't paid and they lowered our payment by $223. We still owe taxes and our HOA dues, but at least we can stay in the house and use the money we saved up to help us pay for our taxes! It has been a crazy 12 months, not knowing what was going to happen, if we were going to be evicted from our house.. or what.
I am so thankful that we seem to finally be moving forward. Even though I am so excited that we have been approved, it is almost bitter-sweet. I was almost looking forward to getting out of this house, but in the long run it is probably the best that we stay here, and fix it up 100% and then maybe in a few years, when our credit is back to normal (because our credit took a huge hit not paying the house!), we can either sell this place, or use it as a rental and move to AG or something!?
Now we just need to save more and more in October, because as of November 1, we will start paying our mortgage again!
Frugal living.. here we come!