Banks and Foreclosure

I have my mortgage and two credit cards with the same bank.  Currently, my mortgage is in default due to no income for 6 months.  I have been working with the bank for that entire 6 months trying to find a way to stay in the house. Last week I got two calls from the bank, and left a message since my account manager never answers her line.  Then today I receive notice that the bank is unable to help us because we have not provided the required documents.  They HAVEN’T ASKED for any documents!  I just went through all this with them a month ago, and now they need more docs?  What the hell, they have all my bank account numbers, financial history, address; what else could they want/need?

Dealing with the bank has put a major hitch in my mood today.  Near the brink of tears just  leaving them a message.  I’m tired of dealing with them for the past 6 months and do not relish dealing with them for another 6!  I just want to walk away from the house now.  Personally, I feel we can go anywhere in the world.  My husband, much more practical, says we must stay in the general neighborhood, to keep grandson in his current school, at least until the end of elementary school (2 years).  I can’t imagine the bank stringing us along for two more years. 

I’d hate having to uproot everyone, especially Mom, and move, taking away grandson’s school (and neighborhood) friends.  I know he will get through it, but I don’t want to be the one to inflict that pain.  And I do feel like the pain will be caused by me, has been caused by me.  Now I’m in that whole if-I-hadn’t-left-my-last-job frame of mind.  Busy beating myself up.  I’m tired of beating myself up.  I’m not to blame for reaching a boiling point at my last job.  Many circumstances converged, leading to emotional overload, fear, anxiety, and stress.  I had to leave that job for my own mental health.  At least that’s what I keep telling myself.

I absolutely despise this bank.  I want to take my money out, cancel my credit cards and walk away from the house simply because I do not like the way they handle themselves with sending blanket, untailored letters periodically–I assume in an attempt to frighten me into some sort of action.

The only action I am liable to take in regards to the house is nothing.  Let the bank have it.  I don’t care.  I shouldn’t be jerked around by some power hounds for another year only for them to say NO in the end.  Which they will, because the house is a pre-fab (mobile home, according to the bank, though how it is mobile without wheels is beyond me) and no one is writing loans on “mobile homes”, it’s a VA loan (which restricts the monies a bank can charge during the loan process), and the house isn’t worth near what we paid for it 5 years ago.  In fact, we have lost 30% of the value. 

There is no way, should the bank take the house from us, that they will get even near the decreased value.  They would be very lucky to get even 1/3rd the value in a short sale or an auction.  The house needs at least $15,000 worth of repairs (for flaws disguised when we bought the house): new plumbing, new kitchen including stove/oven, new carpet, new flooring, update and eliminate leaks in the second bathroom.   I guess it’s better for the bank to take people’s homes from them, sell the house at a 50% loss the bank can then write off, so what do they care about the condition, or the people?  But we are well aware that corporations (though tax-wise are individuals) care nothing for individuals.  It’s the almighty bottom line: he with the most gold at the end wins. 

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