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It's good to be an optimist, but to be blindly optimistic, contrary to facts, that is pure ignorance. John F Kennedy once said, "The time to repair the roof is when the sun is shining." If you can live by that quote, and be strong enough, and smart enough, to get help before its too late, you will get past the majority of hurdles life throws at you.
If you are in a situation where you are having difficulty paying your mortgage, you need to realize that you have choices to make. You can either walk away from your problem, through bankruptcy or short sale, or you can modify the terms of your mortgage, via loan modification, assuming you are eligible to receive one.
If you decide to do a short sale, you need to understand that you may receive a form 1099-C for the amount of the lender's losses. Simply put, the IRS will make you put the amount the lender forgave, as income on your tax return, thus forcing you to pay ordinary taxes on what is usually a significant write-off to the lender.
If you truly want to keep your house, your desire is not enough to allow you to keep it: You need to take action.
If you had to go to court for your own trial, do you think you would have a better chance at getting a favorable result representing yourself, or hiring an attorney? I cannot stress to you enough to not be cheap when it comes to saving your biggest asset. Pay the retainer fee to a law firm, and let them work on the case on your behalf. The cost of doing so will be much lower to you, and outcome resolved much faster and beneficial, than attempting to do something which you have no experience or leverage in doing so, alone.
Contact me under “My Bio” if you would like to learn more about what so many people are doing to stay in their homes.
