Not Home Sweet Home Anymore Fighting Cancer

By Sandra Wiley
A “Get Published” Contribution

Home Sweet Home has left a bitter taste in my mouth. A huge real estate firm, checked out by the BBB and Arizona Board of Realtors, ruined my life. The protective agencies did not warn me about the billion dollar suit against the fraud that was committed by these big time real estate criminals. So, now I am merely collateral damage, left with two properties that are worthless in lieu of receiving help on real estate. Not an honest person in sight, no protection within range, and now, not even a bit of advice.

But do not misunderstand; I am the bad guy here. In the beginning, as a bit of advice did trickle in, it was “dump the properties”. But that was wrong, immoral, dishonest, and hurtful to lenders that might not have known the deals were scams. When I attempted to rent out these way under water properties at a huge monthly deficit, I found myself dealing with renters that had recently foreclosed on their own properties. I thought that they took foreclosure, walking out on promise to pay so lightly, and they do not think how this impacts others. Perhaps I even thought I was morally superior?

underwater home help

My FICO is in the high 800’s, but only recently have regular jobs added to my 1099 profile. But at my age and with my illness, I do not have a chance in hell to get out from under. I lost a lung to cancer and I need my treatments.

Who will refinance under water rentals? No one. Will my own bank streamline the interest only loan? No. Know matter how much money I have in their bank. I have paid off the second mortgages to the tune of 220K on both properties, and continue to sacrifice my own basic living needs in order to pay. The bank continues to gain and refuses to gain less in order for me to at least have a manageable monthly rent.

So I must make the decision to forgo cancer treatments, eat healthy meals, or walk away from loans that cannot be refinanced or continued after the end of the loan term. At the end there is NO place to go. The loans will default no matter what I can do from the choices available. This was not always the case. It used to be that there were banks willing to loan to those of us with high credit scores that had a record of continued payment even in hard times.

Maybe by continuing payment on these loans, I have merely confirmed to banks how ignorant I am. What will happen when everyone else figures out that moral or not, our loans are headed for a dead end? I think it makes more sense to use my money for a casket. Before I do any last minute advice?

Sandra Wiley is a social worker fighting lung cancer living in Phoenix, Arizona. Tell your story like Sandra and have it published right here on Housing Predictor. Have any tips for her? Send us a note through the Contact Form and we’ll make sure to get it to her.