Home Foreclosures

[DaveBen]

I am glad your daughter came clean with you, and that you had a talk with her. I have done the same thing with my Sister. We have always worked it out in the end, but that road does not have to be that long.

Dave

 

[jestersv]

step kids are always a sticky situation sounds like yours are close and youv'e got a good handle on the situation.good luck and if all else fails you only need 15 jose' cause she'll need one of those trailers.LOL

 

[Frankenstien]

If the bank has already started Foreclosure procedures they would put them selves at liable for excepting payment. However she may still have a chance at getting back on top of the game. Federal Housing Administration/U.S. Department of Housing and Urban Development (HUD)

These folks have the "clout" to force the bank to re-review her situation. before the Sheriff shows up with the eviction notice.

 

[ckelly99PS]

With the 401K, she can withdrawl up to half of it in a reasonable percentage rate loan, but must repay through her weekly paychecks. The good news is that this loan repayment money will be going back into the 401K along with any interest she has to pay.

Under certain circumstances, she can take a hardship withdrawl from her 401K, but must pay the steep taxes and penalties associated with that. I'm not sure if that needs to be repaid.....I don't think so.

I am currently repaying $100 a week for the $22,000 401K loan I took out 4 years ago. There were no other options for me, and this opportunity really saved my butt (and house).

 

[NevrKnow]

No kidding. I'm just glad she has been there long enough to have the 401. While it does hurt you in the long run to pull it out, at least shes only 31 so she has plenty of time to make it back up. And daddy could have bailed her out, But you gotta learn some things on your own. ( I still wouldn't have let her lose the house, if the fit would have hit the shan, just wanted her to see the light so to speak. )