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Faced with Foreclosure

Today was not a good day… Work went fine, but when I got home, retrieved the mail from the mailbox, and walked in the door – the day took a major turn for the worse.

As I stood at the kitchen counter, I noticed that tucked inside the stack of bills was a letter from our mortgage company. With terrible building anxiety, I tore open the envelope and pulled out the single sheet letter. The letter was typed, single spaced. As I stood there reading it, my heart just stuck in my throat.

***

Dear Mortgage Holders:

You have fallen behind on your mortgage payments. You must bring the mortgage current within 30 days of the date of this letter by sending the amount shown below in the form of a money order or certified check.

The total due as of March 14th, 2008 is $2589.54.

You must include any payments or late charges that become due during this 30-day period, along with the amount shown above, to bring your account current.

If you fail to bring your account current within 30 days of the date of this letter, we will demand the entire balance outstanding under the terms of your mortgage. This amount includes, but is not limited to, the principle, interest, and all other charges and costs. We will begin proceedings to foreclose on the mortgage, which could result in the sale of the property. We may also have the right to seek a judgment against you for any deficiency.

You have the right to bring your loan current even after legal action has begun. You also have the right to assert in the proceeding the nonexistence of the default or any other defense to our legal action and sale of the property.

We want to work with you to resolve this problem and help you bring your account into good standing. Please contact us at your earliest convenience to discuss possible alternatives to foreclosure.

***

As I laid the letter down on the counter – Cindy turned around from cooking on the stove and spotted me. She knew instantly that something was wrong. She walked quickly over to the counter and grabbed the letter out of my hands before I could stop her. As I watched her read it, I could see tears welling up in her eyes.

“Cindy…don’t worry,” I tried to sound reassuring, even though I didn’t feel reassured.

“But they’re going to take the house…” she said as she looked up at me with eyes that were filled with fear and horror.

“We’re going to be okay,” I said as I put my arm around her.

“They’re going to take it away…” she whimpered, as she buried her face in my shoulder and the letter dropped slowly to the floor.

As we stood there comforting each other, in the middle of our kitchen – the kids blessedly ignorant playing with the Play station up in their bedroom…I held her and tried to comfort her.

Although – deep down, I’m really not sure what’s going to happen. We had our budget, were starting to do the right thing. And now this – the worst thing every homeowner fears. How on earth are we going to make it through this

The saga of Jack’s family( to be continued)