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Thursday, December 18, 2008

We Are Trailer Trash

The tittle sums up nicely about our experience with the bank.



We live in a mobile home, there for do not fall under any program that would help us. We are not deserving of refinancing because there is 0 equity in our home, doesn't matter that the land is worth at least $25,000 more (even in this time of junk money) than we paid for the place, there is no equity in land, apparently. Have you ever tried to sell a mobile home in the winter, even in a good economy? In the winter time, people remember why they don't like these things. We bought the place with plans to build a house, but that was side tracked.



Well, we are to try to sell this place before the 24th or pay the total amount due to avoid foreclosure. Sorry guys, I really tried to do it without using the money.



Let us find a moment of happiness


This is the look I get from Eddie when milking on a cold day. I giggle every time she does it. I do try to warm my hand up for her.

I think it was Rebbecca that left a reply over on WNDN, about how expensive milk buckets are. You don't need that bucket. All you need is food grade plastic or stainless steel, like those cheap pot sets they sell at the farm stores.

18 comments:

Donna said...

Use the money, already. We're trailer trash too, by choice. We have 43 acres here, and I SO understand what you're talking about on how the banks won't lend money on land.

Kate@LivingTheFrugalLife said...

So, Phelan, when you say: "we are to try to sell this place before the 24th or pay the total amount due to avoid foreclosure" - what exactly does that mean?

Does it mean you have to pay the entire principle due or else put the property on the market? Or does it mean you actually have to have a sale by the 24th? Or does total amount due just refer to a few months' worth of mortgage payments? Details! We need details!

If you only need to put the place on the market, well, what are the chances it would sell in these times? That might not be such a bad strategy, really. If it's only a matter of coming up with a few months of payments, then you need to let us know, Phelan.

Talk to us.

Phelan said...

Kate, we owe 3 months of back pay. Things got bad when we had to buy propane at $2.10 a gallon, ugh. There is no way we can sell. There is a home down the road that is in better condition than ours and has been on the market for 6 months. We the threat of more layoffs looming over our aircraft people, they are heistant to buy. And you can't get a loan anymore on a mobile home without pay 14% interest on it. We pay out the $1,537.00 that we owe, and we stay put. We will get that paid here tomorrow, and things will be back to normal. We sat down and figured something out, talked to other's that we owe and explained again, what was happening. When spring comes back around, there will be more money, and we can rebuild savings, pay things off (except the land, we won't have that kind of money, but might be able to double up on payments)We don't have credit cards, never have, just a personal loan and a toll bill. We get those paid off, and when the income slows down again, there shouldn't be this kind of problem again. oops, I am rambling and justifing things.

Phelan said...

that should be tool bill not toll bil.

The Thinker said...

A big shout out from born & raised trailer trash. ("Hellz Yeah!") ;)

When we were house hunting a couple of years ago, my boss-a real estate appraier-stayed on me constantly about NOT buying a trailer, for this very reason. We did end up finding a site built house in our price range, but we sacrificed acres for house.

Our county recently reassessed property value and according to the tax records, my house is now worth $30,000 less than it appraised for two years ago when I bought it. That hurts. (on the other hand, my taxes are lower)

At the moment, your house is most valuable to you as a home. It would cost you much more than you would ever get back to pick up everything and try to find a new home for it. For this reason, it makes sense to put as much of your resources as you can spare into maintaining your house as your home. Go ahead and get that mortgage paid up and feel good that you are doing what makes the best sense right now. In a few months, things may have totally turned around, but right now, I think you are doing the right thing.

Wife to 1, Mom to 5 said...

Phelan~ I know where you're coming from. We gave up 40 acres in the country that had a modular on it for a stick built house in the city on 1 acre. It was the same dollar amount, but nothing compares to the difference that living in the country could have given our family. We are looking at country properties again, but the ones close in are too much $ and the ones that we can afford are too far out or too run down. But, like Donna said, USE THE MONEY!!! The bank may not think your home has value, but YOU KNOW it does to YOU!! As a Realtor, I would advise against listing your house right now. Buyers are not flocking to anything and we are seeing a lot of sellers upside down because buyers want that incredible deal that the media has touted as being everywhere. Well, yeah, it's out there but usually if the sellers take a huge loss. In our area, the fair market value is still there, but buyers don't want to pay it - they want rock bottom deals. If you have to sell, wait til early spring. Oh, and I'm gonna post later about the loss of my Roo Lucy ~ we still have the other 2 roos and I'd love to deliver them to you or if you know of someone else who could use them, let me know. We just can't fathom eating them ~ we are still too "cityfied" and after taking care of Lucy this morning, I don't know when I'll be eating anything again.

SilverSunbeam said...

Use the money, Phelan. That's why it was given to you... to save the farm. We know you've already "paid it forward" and will continue to do so. Sounds to me like you've done everything right and just got sideswiped. That requires no justification!

SkippyMom said...

Phelan that money was gifted to you to use. It is admirable that you didn't want to, but now you need to - and everyone that donated wants you to do exactly that.

Please go use it and be happy in your heart that so many people care about you and were able to help. You deserve it...otherwise no one would have stepped up to help, right?

I especially like the point that everyone makes that this is your home - be it movable or mortar and bricks - and you are able to save your home. Please do :D...

Today we are making the infamous "White Trash" concoction to give as Christmas gifts. I will be thinking of you - and LONG LIVE TRAILER TRASH! :D [if you have never had this yummy delight, let me know...I will send you some :D...it's addicting!]

Stay warm, safe and happy and know you are loved.

Hugs!

rhonda jean said...

There is nothing to justify. Make your payment tomorrow and bide your time until spring. Things are what they are. Take care.

amanda o said...

i am glad the $ will help put you guys on track for spring. i am so glad you all are staying!

alrescate said...

Honey, you were given that money to pay the bank and keep your place. Don't feel guilty about it. You will find a way to pay it forward.

Zan Asha said...

Yeah,what everyone else said. Now, I know you are trying to be honorable about this but look at it this way: We WANT you to stick to the bank. You TRIED to work with them, they aren't helpful so--phooey on 'em.

Haha, maybe if you gave them the look your cow gives you before milking her on a cold day...well, why not add that in while you deliver the money?

sugarcreekstuff said...

I personally will be ticked if you don't use the $ to help out you and your family. ;-)
That is why we gave and we WANT you to use it. I know accepting help is a tough thing, the best thing for you to do is just say thank you and get on with things.

fullfreezer said...

Yeah... what everybody else said. The money is yours, it was a gift from friends. Use it, make your life your own again.

Gail said...

You had removed the donate button by the time I got there. If you need more help, email me.
Hang in there.

~*~*~*~*~*~*~*~*~*~* Tonia said...

So glad you can atleast work things out for now!! As for the cold hands I wear latex gloves to milk in th ecold weather. It keeps my hands warm and in th eprocess doesnt make cow/goat upset!! lol

Gina said...

I'm just an echo, but use the money already, lose the now stress!

BTW, I, too, live in the cousin of the mobile home-the modular. It definitely wasn't the picture of my dream home in my head (an old brick Italianate with big red bank barn), but wow, it's easier to care for. The thing about your home is someday (and try hard to believe this as I know what your brain is saying to you), it will be so easy to replace your home with another one like it (only updated and waaaay cheaper than a stick-built home). All of this you are experiencing will change. We all have to believe that (not only for you guys, but for all of us!)

Kristen said...

Wait, you haven't used the money yet? Jesus, Phelan, what are you waiting for?

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