How About A Little Wish Of Good Luck?.......

I am a nervous wreck and will be most lucky if by the end of this I don't keel over from a nervous breakdown.

Some know that a month ago, the house that I have been living in and paying for over the last 5 years was ripped out from under us by mother in law. In a nutshell she lives in NC, we live in NY and starting renting her house when she left. In 2000 we were informed that the city was coming to take it for back taxes, $9999.98 was delinquent. My mother in law couldn't pay it and in turn agreed to give us the house and allow us to pay the taxes. To date we have paid the City over $18,000 in taxes. We never switched the deed into our names because she had an equity loan still left that we refused to take on. Well she paid the loan off and contacted a realtor. The house is officially up for sale.

Meanwhile my husband and I have been wracking our brains to come up with a solution to this dilemma. When we took on bailing this house of foreclosure, it in the end drowned us. We filed bankruptcy in 2001, still deliquent in taxes, the City foreclosed again and my parents took out a loan for us to pay that off. Now we pay $242 a month on a loan to my parents and still have a year and half to go on the loan. With the tough winter we had last year we paid $3600 to run electric and gas in this house. We have 6 months of $133 installments to pay to catch up. We leave here with a rent payment $360.

Right now the dilemma is trying to figure out where in the world we are going to find a 2 bedroom cheap enough. We NEED a three bedroom, I have two children, different sexes that are 4 and 6, but we have no choice but to put them in the same room. Most two bedrooms don't go for less that $600. $960 for rent alone is not an option, we just don't make enough money to cover that PLUS all other living expenses. My son will not even be able to attend preschool this year if we have to move into an apartment.

Wednesday my job is holding an auction for houses in my county that went into forclosure for taxes. We are looking at a 4 bedroom house that is assessed at $24,900. Generally in one of these auctions the ending price for the property is about a third or a quarter of what the assessed value is.

My father is registering at the auction and is prepared to bid on this house so we have a place to go. 10% is due down at the auction and the rest of the money has to be paid off in full within 10 days of the auction close. We are prepared to go as high and $15,000 with our bid. If we win it, my father is going to pay the difference off by borrowing on his retirement. He is then prepared to mortgage the property paying back his retirement, paying off the other loan that we owe to them and giving us the rest to make improvements. We will then pay our "rent" to him until the time our credit clears and we are able to refinance and turn the house into our names.

Would you mind keeping your fingers crossed for us? I honestly have no idea what in the world we are going to do if we don't get this house. Thanks..:D

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