Because I'm such a codie, I am looking for approval
Okay, I posted yesterday about my housing situation and how we were forced into an escrow account and our mortgage payments went from 1500 to 3400 starting in May, and we decided not to pay that and put the house up for sale or foreclose on it. We are meeting with the relator tonight and putting the house up for sale, because there are delinquent payments from when my AH was out of work we believe they will probably speed up the foreclosure process (this is something I know NOTHING about so if anyone knows anything about foreclosures please fill me in). The realator thinks we will probably sell, but it may take awhile because of the economy in Michigan houses are not really selling, so he was saying we may have to do a short sale on the house, so there is not a foreclosure on AH record, which AH credit is screwed anyway so he could care less. I am not on the mortgage at all, he purchased this house 3 years ago when we were seperated (thank God I didn't put my name on it....)
Anyway, we have a payment of 2,000 due tomorrow....next payment is 3400 in May which we do not plan on paying because it is ridicolus, I am not working just to pay a mortgage payment
So my question to you is.....
Would you pay 2000 tomorrow knowing full well you are going to default next month, so the money will mean nothing anyway and put it toward the down payment on another house, or would you pay it to give yourself and extra month and then let it default?? I really don't know how long this takes, if they foreclose and we are out of there in 30 days, or if we are going to sell it before it forecloses, or how long we have after it forecloses to move... We have already been house hunting with the realator...
I am really struggling with this, we could really use the money this month, but it feels really sneaky and wrong.......but I guess it's sneaky and wrong to double someones mortgage payment with 1 months notice too.....
Let me know what you think!!!
Thanks