Today is officially one of the saddest and most disappointing days of my life. I never put personal information on Facebook, but i am facing such an injustice that I feel its about time I asked for help or just love. We are in the middle of losing our home. It has been my sanctuary for the last 4 years, and it is where Fox+Owl was born. We were renting-to-own from a friends mother, and she unexpectedly passed away last year. I have done everything it takes to buy this property. I have exceptional credit, about 1/3 of the total cost of the house as a down payment, and have helped the bank and court throughout this entire process. Yesterday I was told I had been approved for a loan through State Farm to purchase my house in the online foreclosure auction it will be sold through. This morning, I just received another call saying that the Fannie Mae Federal Government stipulation says you must show self-employment income for 24 months. Fox+Owl is only currently 18 months old. This little detail means that the red tape has completely halted my loan and now it looks like we have to move in the next 3 months. To say I am devastated is putting it mildly. I have outdoor pets that live here and I am terrified of moving them in case they run away or come back here and no one is here to feed them. Fox+Owl production happens here. MY LIFE happens here, I am a hermit...I barely leave the house. And now, I have officially hit a wall. They said the only option we have is someone else buying the property as an investment and letting us pay them back (which would be done in FULL within a few months once I took out my home equity). Heres the kicker: this house is being sold as a FORECLOSURE. It will go for half of what it is worth, maybe even less. Its looking to be sold for anywhere from $40,000-$80,000....and that is INSANE. Its perfect. I even paid to have an inspection/appraisal done. I have considered doing an IndieGoGo account, or a kickstarter, and offering Fox+Owl incentives, but I am just at such a loss now. If a dude can get 70k for potato salad but i cant keep my home, what is this world coming to? We have done EVERYTHING required of us, and now we get shut down with this stupid rule of 24 months?! I cant stop crying. If anyone thinks they can help, or has advice...please let us know. Even if its just words of encouragement....I need them. I am trying to remain as positive as possible but at this point thats becoming very difficult. Knowing that our business has doubled from last year to this, and knowing I have an exceptional credit score and more than enough of a down payment (possibly even 50% of the entire cost if it goes for low enough in auction) makes it extremely difficult to believe this 24-month rule can really get us evicted from our home. I am asking for your help.
Posted on: Fri, 08 Aug 2014 14:07:25 +0000
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