It Is Well.....

Today, we have missed two mortgage payments.  Now that we are into month 2, all is well.  We may even have a buyer.

I feel a bit sorry for the buyer of this house, not because they are not getting a deal, but because they will have to work with Citi Mortgage to buy our house.  Once they make an offer, we are out of the negotiations with the buyer.  It will take at least 90 days to work out the paperwork.  We will need to petition Citi for a short sale.  This entails more paperwork, and a letter asking for a short sale, because of our hardship.

Here is the problem, and reason number one, that this may not work.  All is well.  This is where one of the many double standards comes into play.  Our financial hardships are at a minimum, except that our house is SOOOOO expensive.  Clearly it is more expensive than is reasonable for us.  The mortgage institutions extended themselves with fraudulent lending practices, driving the price of real estate up.  When they pushed it beyond what was reasonable: collapse!  They had to essentially write a hardship letter to the federal government.

Unfortunately I am not afforded the same grace that the mega-corporations are.  If I bought a yacht, a new car, designer clothes, and then came to the bank to say I am having hardship, they would say, "too bad".  If I came to the bank and said, my house is too expensive, and hadn't pushed the limit of what I can spend, they still say, "too bad".

Though it is well with my soul, I can't afford my house.  I can't afford my house if I intend to pay for my children to attend college, if I intend to continue to make improvements on this house, and if I intend to drive safe and reliable cars.

Since there is no one to bail me out, I guess I'll have to figure it out on my own.