Help, my husband left and now i can not afford to pay our mortgage on our house, how long do i have before?

i get put out by foreclosure, the house is up for sale with a Realtor (coldwell banker), loan is with hsbc mortgage. (we were able to afford it easily with both paychecks and had agreed to stay together until it sold, but he just left me and my son stranded).Help, my husband left and now i can not afford to pay our mortgage on our house, how long do i have before?
Time to get creative!





(1) Get an attorney immediately and start your divorce. You are entitled to child support and the DA will issue a wage assignment so you get paid FIRST out of your husband's paycheck.





(2) Apply for aid/public assistance if you believe you qualify.





(3) Will the market support rents equal to your house payment? If so you might think about renting out the house and cover the mortgage.





(4) Is it possible to rent out some of the rooms in your home to college sudents? Their parents usually pay their rent for them. You could move your son into your room until you get your situation resolved.





(5) Have your Realtor help you with a loan modification.





(6) Last resort....do not go into foreclosure. Talk to your Realtor about helping you with a Deed-In-Lieu of foreclosure.





Your Realtor is your BEST resource for answers. Price your home to SELL. You want to be in the top 3 best-priced homes in your neighborhood so you are on everyone's showing list. I don't know your equity situation, but if selling your home at a price that is less than what you owe, you can easily negotiate a short-sale with your bank under your present circumstances.





I hope I've helped you out a little bit. I feel your pain! I've been in your shoes....almost exactly and I did lose my home. It was before I became a Realtor and didn't know my options! Hang in there Kiddo. There are brighter days ahead and worse things than losing a home.Help, my husband left and now i can not afford to pay our mortgage on our house, how long do i have before?
Is the home priced for todays markets or are you holding out for a profit? Have you talked to your mortgage institution about a short sale, deed in lieu or other options? You might even have trouble renting with a foreclosure on your record? Has it gone into foreclosure yet?





With some states the process is very quick, done and over with but with others this process can be dragged out for a year (maybe even more) with the rights of redemptions available even after the foreclosure is done.





Your agent should be able to let you know what the process is for your area and the foreclosure process. But check into a short sale or deed in lieu and then get out and find a place to start your new life BELORE either of those hit your credit record if that might be an issue at this point.
EDIT: Sorry, I read some of your other questions. You seem like a good mother and I hope your son gets into wildlife mgmt..











But anyway, yes - your headed for a forclosure. OBama's plan will not help people that can't afford what they have. So, either get another job or try to get the rate reduced. Good luck to you and your son.
If you have an extra bedroom, try renting it out for extra money.

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