New Jersey Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
anyone know about mortgage stuff and unemployment?
dave called our mortgage company to touch base with them and see if we have any options. we can pay our mortgage right now but we don't know for how much long and we wanted to talk to them before we got in a bad situation. because we pay every month on time they won't help us with a modification. so we're screwed because we're in good standing. they said they could possibly set us up with something else at some point but not right now and we should just pay.
part of me says don't pay, show them that we're struggling and they'll help us. the other part of me is terrified to end up in default and wants to send them the money. anyone know about this or have advice? my family has never (thankfully) been through this so they don't know.
Re: anyone know about mortgage stuff and unemployment?
they have loan modifications for people who are struggling to pay their mortgages. i don't know about them but i do know there are ways to get help.
agreed - but you have no idea how many lawyers tell their clients to do this! it's unreal.
"Like" me on Facebook
I don't mean to sound harsh, and I truly do feel for you guys (my husband was unemployed a few years ago) but the thought of not paying our mortgage to prove a point is crazy. Like the previous posters said, you will ruin your credit and hurt any chances you may have for a refi, etc in the future. I would cut back on everything else but make sure that mortgage is paid- thats what puts a roof over your head! You don't screw around with that!
I'm sure your husband will find something soon. Hang in there.
ok but he's been unemployed for a week, right? why not consider not paying your mortgage once it's an actual hardship. in the meantime try to cut back on things like your cellphone plan, cable plan and extraneous activities.
if something goes wrong and you end up losing your house over this there is very little recourse available to you.
I'm sorry you are going through this Danielle. I think counting on the bank to come to you with a deal to help you out is a long-shot. Also, it can ruin your credit and I think it's commonplace for employers to run credit checks on candidates and you wouldn't want that to hurt your husband's chances of getting a job. I hope he finds something very, very soon.
BFP #2: 11/16/11: M/C at 7 weeks
BFP #3: 03/24/12: C/P 03/28/12
BFP #4: 04/26/12: please be our baby
I agree that I would cut out everything else before I didn't pay my mortgage.
It sucks, believe me I know, that you are current with your payments so they say they can't help you. We can't do a rate modification with our lender for similar reasons. Getting penalized because you pay your bills on time seems ass-backwards.
But he's only been unemployed for a week and he has interviews lined up so this might be a moot point. And if he is unemployed for a long stretch of time then cancel your cable, phones, extra activities, eat spaghetti every night, etc. but always pay your mortgage.
thanks for the feedback. we're working on cutting everything back and i've already talked to trevor's school director about payments for that. if i didn't already pay my gym membership for 6 months upfront that would be gone...i guess i jump into my mortgage being such a burden since it's our biggest expense and it's due tomorrow so i'm freaking out laying out that much money without an income right now.
he does have a few interviews lined up but not as many as i would have hoped. he actually just got off of a phone interview with a company that's supposed to be a strong possibility of hiring him. so yeah, it may be pointless to even talk about this but i'm panicing...
I know it's a scary situation, but it's only been a week! The fact that he's got that much lined up already is a great sign...but you need to breathe deep and realize that it could take a little bit of time.
You'll get through it - just cut back on non-essentials, like you already figured you would.
"Like" me on Facebook
Don't even toss around the idea of not paying your mortgage. Pay that FIRST, before anything else! Is he not eligible for unemployment? I'm sure there are a lot of other things you can cut out spending on. I'd be eating ramen noodles if that's what I had to do to pay my mortgage. I know it sucks, I was there a year and a half ago.