Ok, you can get mad at me now because this blog is going to deviate from the feel-good tone of many of the other blogs.
However, I just want to remind you that when you bought your house, you signed a “Promissory Note” promising to pay the bank back for the money they gave you. The collateral that you put up for the Note was your house. The Mortgage is what “secures” that collateral for your lender.
If something has happened and you can no longer make payments on the Note, then the bank has every right to first, take the collateral via a Michigan foreclosure. They then have the right to come after you for the balance you’ll still owe if selling the house (after the foreclosure) doesn’t pay off your Note in full.
Don’t play the victim and complain to everyone how unfair life is. Yes, life is unfair, life is tough – get over it. Be mature and take responsibility for your situation. Find a solution, make an adjustment but don’t think you are entitled to keep something you can not afford.
We were talking to a lady yesterday who in the same month, lost her job, her husband left her and her grandmother, whom raised her, died. This lady admitted that this was not the life she signed up for, but it was the one that she was given. She was dealing with it, doing what she could and moving on one day at a time. She got her inspiration from a boy in her town who was 13 years old and had been fighting a rare cancer since he was 5 years old. His disease was keeping him from ever having a normal life. Compared to him, she felt rich. She could get out of bed. She could see. She could walk. She could make a fresh start. She was not a victim and she will survive.
You will survive too. We are here to help you make a fresh start, but you have to take responsibility and work with us. Don’t be the victim and expect us or anyone else (like the government) to make right all the wrongs that life has handed you.
End of my soap box. Sorry if I offended you, but sometimes things just have to be said.
Ann