Save My House

I didn't give up without a fight ...
unfortunatly, I lost...

 About This Site

the unanswered question

OK this may seem like a totally crazy idea but it actually isn’t original. I got the idea
from someone I saw on TV who wanted to raise money to buy a house.

The Who We Are version can be found here.

The short version, for those of you who are unfamiliar with our situation, starts in 2003
when I lost my job. We were barely surviving on my husband's paycheck, then 2 years
later, when I was trying to find some way to keep the house while I was going to school
and looking for a job. I ended up getting involved in this real estate trust thing, it sounded
good at the time, and I had a lawyer give it a very quick once over and signed on the
line. How it’s supposed to work is, for two years they help you out with your house, let
you re-establish your credit and at the end of the two years if you can’t refinance the
house you sell it, pay back the trust’s investment, your mortgage and walk away with
the equity from the house. No one told us trying to get financing on a property in trust
was all but impossible. Still I wasn't all that worried, we thought we could still sell the house
and even in a not so great market walk away with a little bit of equity.
We didn't understand how, but the trust took full control of the house and had listed it for
sale at well below the appraised value (at that time) because the trust had ‘expired’ and
they just wanted their money quickly. Because of the involvement of the trust we became
significantly behind on our mortgage payments and due to my still being unemployed are
not in a very good financial position to be able to keep our house.

Why ask for donations? Why not just get a loan or refinance like other people?
There are several reasons we can't get a loan to buy the house back, the most important of
which is that our credit score has been adversely affected by our inability to pay the trust.
I'm still out of work and we don't qualify for a work out with our mortgage company because we don’t make enough money.
Right now we're trying to make it on roughly $360 a week take home in a regular 40 hour work week. Our house payments as they stand are $903.00 a month. That doesn't leave much for regular living expenses,
which is why we are now trying to raise enough money to pay off all the lawyers, the fees and our existing mortgage. Even if we caught up our mortgage now we don't make enough money to survive and make our mortgage payments. IIf you would like more information about our financial situation please get in touch with me.

This is a link to my email Contact Cherie

So, that's why I tried to raise $115,000 by asking 115,000 people to each send me $1.00.

For more information on how and where to send donations please
visit the DONATION link on the left