Posts Tagged ‘Bessie’

Just to remind everyone – we were going through with our what? 4th Attempt at a Mortgage Re-modification, you can read about it in these posts:

Checking In…Where Are We…And Some Random Thoughts…
Thoughts on the Modification…
Well Here We Go Again…Into the Grinder of a Modification

So we got the letter from Citi yesterday and under the FHA Home Affordable possible (yes you read that right, possible) modification we have to first pay three (3) payments of $860.14/month with the first payment due 11/1 – YES in just two (2) weeks they want us to come up with $861.00! Um WHAT?!?!? I have other bills – including, oh I don’t know, EATING, due before that time…no I am not mis-prioritizing things, instead I have already scheduled our monthly car insurance, $81.72/mos drafting 10/24 first and then maybe, just maybe I could give up some funds toward this mortgage payment, BUT BUT wait for it – UTILITIES are due! Oh yeah those pesky monthly payments, right now we owe

Progress Energy (Electricity) $250.00

CFPUA (Water, Trash, & Sewer) $182.00

AT&T (Phone & Internet) $125.00

Grand Total Due: $557.00

Then you know the weekly expenses

Groceries – $200.00 x 2 = $400.00

Gas – $40.00 x 2 = $80.00

Cat & Dog Food – $40.00 x 2 = $80.00

Jimmy’s Money – $20.00 x 2 = $40.00

Friday Pizza Night (the cost of which is equal to groceries) $25.00 x 2 = $50.00

Brigades – $60.00 x 2 = $120.00

Mid-Atlantic Finance (Bessie’s Payment) – $75.00 x 2 = $150.00

Grand Total: $920.00

Between the Two: $1,477.00

Over the course of the next two weeks we’re estimating an income of roughly $1,630.48

That leaves what? $153.48

So where exactly can we afford $861.00??? Someone please tell me?!?!?!?

So here’s how this is playing out – today my Hubby is going to call Citi and see if in fact they need that initial $861.00 on 11/1 as the letter indicated, and if so then we have to figure out what our options are,

Option 1 hubby suggested taking out a small loan to cover the mortgage deficit over the next three months, so roughly $2,500.00 and that would only be done if the cost of the payments was reasonable – note this is NOT something I am on board with.

Option 2 would be the allow the foreclosure process to begin and pray we don’t get kicked out of our home for an extended period of time, allowing us to save money and rebuild our credit while remaining in our home.

Option 3 would be to walk away, find a cheap (ish) apartment here in town (so we could continue our current jobs) and move – this would mean a change in schools for the kids, which I don’t like but if push came to shove that’s where we’d go.

Option 4 would be file for Bankruptcy, he’s thinking Ch. 11 so that everything is put on hold for 5 or so years, but someone told me this morning that Chapter 11 is mostly for businesses…so not sure how this would play out.

Option 5 would be to bail on everything and head back to MD where we have family that can help us…

I don’t really believe we’re here…we try and we try to keep our head afloat, previously rent always took priority in our lives, but then again we’ve never been in a situation where we didn’t get paid time off and a stagnant salary…so now that’s changed some and I am hopeful that now we can work with the change in my income situation and prevent the losses of income.

On that note we did decide last night that we’re going to do what we can to bring in some overtime – for me I’ll log in an hour or two here and there on my rest and yoga nights and some on the weekends and he’s going to see about overtime in the salon at work just so we can bring in more income.

Thoughts?

UPDATE:

Spoke with my Hubby after he talked with Citi and as they’ve explained if, Yes the payments are due on the 15th of the Month like any normal payment plan for a mortgage, so that gives us 4-Weeks aka 4-Paychecks to come up with the $861.00 due or $215.25/week for this month and each subsequent month during the trial period.

At the end of the trial period HUD will step in an pony up our back-due amount, roughly $10K less the 3-Payments we’ve made and the monies currently sitting in our un-applied funds account.  IF we can make these three payments then and only then will the underwriters move forward with a HUD Home Affordable Modification with our final monthly payments yet TBD.

I’ve done out the budget for the first payment and I am not sure still about paying the utilities…but we’ll figure it out…

I am not going into too much detail, but I am going to share a series of Facebook posts – our Van our Wonderful Bessie had a hiccup about two weeks ago – she overheated severely and I had this brown disgusting sludge coming out of the coolant area and the transmission fluid was low – call the mechanic, estimated costs of repairs, $380.00, YIKES! Wait until Friday when we get paid, ok the repairs – he replaces the radiator and water pump – low and behold he also tells me that he did something to the transmission “so I wouldn’t have problems going forward” I’m thinking ok cool, another $30.00 he needs to for what he did (without permission mind you).

See the Original Post About the Van

What is it with Cars/Vans and Hemorrhaging Money? As if Stressing Over a Mod Isn’t Enough…Let’s Add this to It!

So here’s what I posted on Facebook:

From 09/12/14

“Well she’s all fixed, but the mechanic flushed the transmission fluid and that added another $30.00 to the bottom line, $410.00 – he wants to check her again on Sunday to ensure that the transmission is holding onto the fluid – there’s no leak, but he wants to make sure it’s holding on…while I am happy it’s fixed, wish he’d have checked with me first.”

“Might have spoke too soon…the transmission fluid is causing her to do some shaking when shifting to 1st gear…ugh he’s coming back tonight to get his $30, and to look at this issue”

From 09/13/14

“Well where are we? Ok well the mechanic picked her up again this morning, he’s going to re-flush the tranny fluid and add some stop-gap measure to get me through the week while trying to clean out the filter. He said the filter most likely needs replacing, but this thing he’s going to do should get me through the week – if she starts shaking again he said to take it slow and get home, call him and he’d look at it…ugh…if the tranny goes on Bessie I am royally F&CKED!”

“the whole Bessie is running fine, no problems, turn back into the neighborhood and wouldn’t you know it, the Shaking begins AGAIN…she’s just hemorrhaging money right now…”

From 09/14/14

“Ok back from our outing…Bessie did good en route to Wal-Mart, a 10-min ride to the Junction, we did our shopping, got 2/3 of the way home before she starting “jumping” when shifting gears…made it home, but my stomach drops every single time it “jumps”…ugh not sure what to think, the mechanic told me that it’d be ok for my trek back and forth to work this week…I don’t know how much I trust that…we’ll see.”

From 09/16/14

“Ok just braved the roads w/Bessie for a quick Target/PetsMart run (prescription and crickets for Smaug) and she did good, no overheating (which shouldn’t happen anyways) and no “lurching” when shifting…WTF?!?! Bryan’s coming over tomorrow to check it out anyways and show me a few things about basic car care”

From 09/17/14

“Friend came over showed me some of the ins and outs of Bessie’s engine and fluid compartments – took me to Auto Zone and we purchased some Transmission Fluid (she was really low) and some Anti-Freeze (she was nearly empty) came home put it all in and ran the engine for a bit and she held the tranny fluid well, he had me shift the gears to help get any “air pockets” out and then he added some power steering fluid and that should do it he said. Crossing my fingers it worked, we’ll see!”

Today, 09/29/14, Two Weeks+ Post Repairs

“Ugh Monday morning…traffic at Myrtle Grove this morning caused Bessie to get HOT again…she cooled down during the ride to work, but all that stop-go-wait trying to get out of the parking lot was heinous on her! I don’t get it! New Radiator, New Water Pump, the Right Coolant and yet STILL gets hot quicker than she should?!?!? I am out of Money and Out of Ideas! Soo not how I wanted to start my Monday…here’s hoping the rest of the day runs smoother!”

“Seriously did the Finance company for my Van just call my WORK#?!?!?! I was in with my boss and they left a message, yeah I called them back and told them to remove that # IMMEDIATELY from their Database, they are NOT Ever to call me @ work! GRRR!!!”

Further Post about the above:

“Alright so those ARSEHOLES just called me back on my cell as I indicated, they THINK I am past due 24-Days = $225.00 and are threatening to repo the van if I don’t pay that soon…WTF?!?! Money don’t grow on trees guys, I explained that to him, but as per usual they are trained to not listen and only respond to what they want to hear…yes sir I’ll sell my oldest to pay you! Nevermind it’s illegal, nevermind that I’ll go to jail…yeah not to politely told him to f*ck off and hung up on him…where in the world am I going to dig that money up from? Shit Bessie needs more repairs and I’m past due…F*CK F*CK F*CK!! He’s like “If you can’t afford the vehicle we can take if off your hands and it won’t be an issue” TO which I was like “um yeah you’ll just sell it @ auction for less than I owe and stick me with the balance due” and he had the BALLS to say to me “well then maybe you can afford it then.” Ugh why are car finance people like flies in your ears, buzzing every chance they get?!?! Lovitt’s would never have harrassed me as much as these jack-offs! But no they sold the loan and now I have these assholes in my ears!”