House in preforeclosure, What to do, want to rent save money?
Friday, January 9th, 2009
jscott1026 asked:
Well my house is in pre foreclosure. I have a 570 score now. We are currently showing 2 months past due on my $2500 a month payment. The houseing market isn’t moving in FL. Our Sales date its set for Dec 27th (Great) Merry xmas. We want to look at renting a home. If we hang tight in this house for a month or so i can save some money to put down 1st and last plus Deposit. Hope my score doesn’t drop much more. I make good enough money to handle a 1200 - 1600 payment. So any advise as to what to expect from the rental market. Rentals everywhere due to home sales not happening. My house has been on the market for 2 months not 1 inquire.
A little more info. I lost my job of 7 yrs as a finance manager for a big dealership after the company sold. Went through savings in 5 months while looking for a new gig. Got upto 120 days past due. Sent the bank $4k in January and been sending them 2500 - 2800 every month since. I just cant get caught up. The stress of the whole thing is taking it toll on my and my family. My blood pressure is 160/100 and i am 28. My wife and i have been at eachothre throat and i am working myself to the bone at my new job, which pays pretty good but i am tired and whore out! Can i rent for a few years and save some $$$ and get a house when the market corrects itself?
Well my house is in pre foreclosure. I have a 570 score now. We are currently showing 2 months past due on my $2500 a month payment. The houseing market isn’t moving in FL. Our Sales date its set for Dec 27th (Great) Merry xmas. We want to look at renting a home. If we hang tight in this house for a month or so i can save some money to put down 1st and last plus Deposit. Hope my score doesn’t drop much more. I make good enough money to handle a 1200 - 1600 payment. So any advise as to what to expect from the rental market. Rentals everywhere due to home sales not happening. My house has been on the market for 2 months not 1 inquire.
A little more info. I lost my job of 7 yrs as a finance manager for a big dealership after the company sold. Went through savings in 5 months while looking for a new gig. Got upto 120 days past due. Sent the bank $4k in January and been sending them 2500 - 2800 every month since. I just cant get caught up. The stress of the whole thing is taking it toll on my and my family. My blood pressure is 160/100 and i am 28. My wife and i have been at eachothre throat and i am working myself to the bone at my new job, which pays pretty good but i am tired and whore out! Can i rent for a few years and save some $$$ and get a house when the market corrects itself?
