My Story

My story starts 29 years ago in London, England. I met a lovely Brit, fell in love, and married. He came to this country to live the "good life". And, oh boy, did he!! After a number of years, and pure luck, I discovered that he had us in over $110,000 in debt!! My family came to the rescue, bailed us out by giving us quite a bit of money. My husband emptied out his retirement fund, we hired an attorney to assist us in cutting down our credit card debts and managed to pay back the debt. Lo and behold, our attorney never informed us that in reducing our debt we would owe IRS a significant amount of money as taxes on the debt saved. Two years later we receive the tax bill - with two years' interest and we begin again... OK, that off my chest I'll begin where this really begins which is October 2006. Sunday, Buffalo Bills game at home - I follow my spouse to the game (to which I am not invited) and discover he has a new "partner"... I kick him out of the house that day. Thus begins the Divorce saga. He is told to pay all bills except the mortgage, which I am responsible for. He does nothing of the sort, incurring tons more "family debt", and I pay the mortgage in full up until this past October. You ask what else could go wrong - well, my daughter turns up pregnant and I rush to the rescue!! I informed my husband that I would need assistance at this point to pay the mortgage, keep up with other expenses as well as prepare for Christmas. (p.s. my take home pay is $2,000 a month, and the mortgage payment is $1,500 so you can imagine how frugally I've been living up until this point). This brings me to where I become indebted to Wells Fargo - the mortgage holder. I am now three months behind and they will accept full payment only, no partial payments. Each month I fall another $1500 behind and don't know what to do. The house is on the market, has been since October 2007, fairly priced. I do not want to sell my family home, but have agreed to try to do so. No offers up to this point. Does anyone know what I can do? How do I go about trying to negotiate a new mortgage for my home, which includes the past due amount and any closing costs? It doesn't seem right to lose a $170,000 house over a mere $5000 late payment, does it? I don't know what to do - I really need help - Sandy