About 6 months ago, my condo went into foreclosure. On the day that I was served the paperwork, I contacted the Fair Housing Administration and we made an application for Save the Dream Foundation. I spent all summer jumping through hoops working toward being accepted for the option where the foundation would pay off 1/2 of my remaining mortgage as well as get me current with both the mortgage and the condo association.
Just this past Monday, I found out I was accepted for all 3 by Save the Dream Foundation, but then US Bank refused the $35,000.00 to pay down 1/2 of my mortgage. They and the condo association both agreed to accept the money to bring me current, but the bank will not restructure my loan whatsoever. I only make $20,000.00/year right now, and even though I am working very hard and I have 3 degrees, I have not been able to find a better job after getting laid off, which is what has led to the foreclosure in the first place. If I sign these closing papers, I will not be able to move, sell, or rent the condo for 3+ years, and I do not make enough money currently to avoid foreclosure again, so then I would owe the foundation $15,000.00 in addition to owing the bank and the condo association.
I'm already working 2 jobs and I have a room mate in an 800 sq ft 1 bedroom condo. I can't fit any more jobs or people in this house. Please help:( I live in Ohio.
Read more: What to do when the mortgage company refuses the money from Save the Dream Foundation?
