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Re: Keyser and LadynRed - part 1 - you asked for it !


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Posted by LadynRed (199.91.33.254) on April 09, 2003 at 16:21:09:

In Reply to: Re: Keyser and LadynRed - part 1 - you asked for it ! posted by DDF on April 09, 2003 at 15:11:01:

Thanks ! :)
I know it will be much easier to rebuild and recover after bankruptcy. My sister is 5 years past hers and has had unsecured credit for 3 of those. Since I figure it will take me at LEAST 4-5 years to save enough money for a reasonable down payment on another house, I'm not concerned or in a hurry to buy another one. The forclosure is probably going to have to drop off first, which will be 5 years from now - so it about evens out.

I loved my house. I fought for months NOT to have to let it go the way it did, but it seems everything was working against me. The fact that it took the bank a YEAR to sell it was pretty telling of the houseing market in that area. The stupid thing is, the person who bought it only turned around and put it right on the market in 1/2002. I found out only a couple of months ago, that it FINALLY sold, AGAIN, in 12/2002 for about what I was originally trying to sell it for in 2000. So, in essence, it took TWO YEARS to get the price I needed in the first place !

Bankruptcy is not an easy thing for me either, but if the 2nd mortgage CA sues me, I'll have little choice. I JUST manage to get by now, being forced to pay or lose even 10% of my wages to garnishment would cripple me once again and I won't allow that to happen. Its my right to get a fresh start and I WILL use it. I'm too old to play stupid money games. I used to have A+ credit, I'll get that back after a while.

The whole credit system is flawed and twisted. In many ways the days of credit the way my parents lived with it would be far superior to the way it is now. People had credit for mortgages ONLY, the rest was a cash world. Sometimes I think the guy who thought up the consumer credit scheme should be villified - not revered. If I could go back in time I think I'd assassinate that guy ! LOL




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