Dave,
We are on the same page as to what is going to happen, only I am gearing up also.
Just going to handle it with a different plan of action than the norm.
John $Cash$ Locke
thanks for everyones help and advice we are gonna talk today and see what happens
I can’t believe that you are concerned about what will happen to your aunt. She is the cause of all of the hardships that you have endured so far.
I understand that situations like this are very difficult to handle especially when family members are concerned. If it was me I would have a very serious sit down with her and explain that it is in everyone’s best interest to resolve this by selling the home immediately.
At that point if she will not listen to reason, I would tell her that you will be telling the mortgage company to begin the foreclosure process. This will result in them selling the property at auction and she may get zero equity out of the home. Whether or not this is how it will play out she doesn’t need to know that but you must SELL her the idea.
Above all you must look out for your own best interests and of those of your wife and children. Obviously your aunt has absolutely no regard for you or your family.
I hope this helps in some way.
Life is filled with hard choices. Obviously you have strong emotions about your aunt as part of your family. Maybe you just need to acknowledge that it is more important to nurture this relationship with your aunt than to restore your credit. If so acknowledge that she isn’t going to do anything and you are not going to do anything and just move on with life. You can still get home ownership by pursuing a house in your area where someone is motivated enough to sell to you under a contract or through a trust. It doesn’t clean up your credit but is does get you into a home.
But, if I were in your shoes, I would send a certified letter to the lender and to the aunt demanding that the the “due on sale” clause be invoked. You should insist that the loan be assumed, refinanced, or foreclosure started. If the Mortgage company fails to respond (which isn’t likely), I would write a letter to HUD, FTC and my congressman.
All of my family members are important and loved. But my wife and children are my first responsibility.
Eventually even a foreclosure stops impacting credit. An ongoing mortgage late goes on forever.
Good luck with your choices. However, do make a decision to move forward with your life.