Cameron Piper

Katrina,

I understand and feel your heartache in your post. Please keep in mind that you will come out of this alive - even though you don't feel like it right now.

First things first, all you can do is all you can do. Do your very best to sell the house and continue to try to pursue a break even sale. You may however need to begin to discuss a short sale with the bank. Do a search on Trulia Voices for "short sale" and you will find plenty of great advice on how to get it done.

In the mean time, go find some work, anything will do in the short term. Deliver pizzas, wait tables, work at McDonalds - this will help stem the tide until you find better work.

Next write out a budget - every dollar in and every dollar out. Prioritize your spending, focus on food and shelter to start and then pay each bill in order of priority, once you are out of money you are done. Those that don't get paid will scream, but remember all you can do is all you can do.

Drasitcally cut your lifestyle - do you have car payments? - sell the car, buy a $1000 beater until you get back on your feet. Do you have two cars and only need one? - sell the extra one. Remember that eating out is a luxury, so is cable, starbucks and the newspaper. Put your student loans on hardship deferral and start clipping cupons for groceries - every little thing adds up to a big total in the end.

It will be painful but you aren't going to crash as long as you are willing to make drastic cuts now in order to save your entire financial situation. Good luck and post back with more questions.

Check out http://www.daveramsey.com and read one of his books "The Total Money Makeover" or "Financial Peace" - if you can't afford one - check it out from your local library.

Cameron Piper - Sun Nov 16 2008, 11:27

A Chan,

You are dealing with an enormous company and it will take quite a bit of time to get a decision. If you need to buy something right now, short sales won't be your best bet. If you have time and want to deal with the hassle, you might be able to snag a deal.

Best of luck

Cameron Piper - Sat Nov 15 2008, 22:12

Sal,

This one smells of needing legal advice. Since we don't have the contracts to review and can't ethically provide you with legal advice I would probably have you call your attorney and pose the same question.

Best of luck to you.

Cameron Piper - Sat Nov 15 2008, 22:04

Eunice,

Things happen in real estate and the best thing that you can do at this point is to move on to another property. There are a couple of thoughts here though.

1. If you are ever this attached to property again, write an offer. Buying a house is all about emotion - you are currently experience the pain of losing something that you liked. Next time you feel the emotions of liking a property as much as you liked this one - buy it.

2. The relationship between an agent and their clients is based on trust. It appears that you have lost trust in this agent. If you haven't signed a contract with them I would recommend talking to them about the loss of trust and hear them out. If they aren't convincing or you simply can't bring yourself to trust them again, move on. Don't jump to conclusions however. You are assuming that all things in real estate are fair and they are not. For example she may have called the listing agent and asked for a heads up if something happened, but they never called her back.

Best of luck to you.

Cameron Piper - Sat Nov 15 2008, 22:00

Susan,

It is not likely that the government will take on this sort of a hands on approach to the situation. The governments involvement (at least as it has been proposed so far) will be limited to broad strokes of the magic wand to try and fix the problem. Primarily it will be giving assistance to those in need through hand outs.

Cameron Piper - Sat Nov 15 2008, 21:46