as the headline goes, we’ve only been in our house for a year + 1 month and my husband was just diagnosed with metastatic seminoma and will be doing chemo for a few months, thereby being out of work for a while. he is the main provider but i do receive monthly VA compensation— not nearly enough might i add. would only be able to cover 3/4 of our mortgage and his disability wouldn’t be able to cover the rest of our bills. we’re BARELY making ends meet just as is. on top of that, we have an 8 months year old who he won’t be able to take care of on his own if i were to go back to work. i mean, we are skrewed. we don’t know what to do. any advise would be wonderful. or maybe sharing a similar experience where things ended up working out?? thank you
only one year in our house but husband has cancer and will be out of work
byu/ListUpbeat1216 inRealEstate
Posted by ListUpbeat1216
8 Comments
Damn that’s rough, sorry you’re dealing with all this. Have you looked into your state’s temporary assistance programs? Also might be worth calling your mortgage company to see if they have any hardship options – some will do payment deferrals or modifications especially for medical situations
You need to keep in contact with your mortgage holder, most have hardship programs for these situations. They will speak to you unkindly and be relentless on sending you notices, but do not ignore their communications.
Call your mortgage company and try to get loan modification or similar. Was the loan FHA?
I am so sorry your family is going through this. If you put nothing or very little down on a VA loan, you probably don’t have the equity to sell the property without a short sale. It seems unlikely that a loan modification will extend long enough to cover his full treatment (though you should definitely inquire.) That leaves you with a couple of uncomfortable options.
1- is there anyway that you can reduce your budget items to an amount that your VA and his disability benefits can accommodate? Even if that means letting a vehicle go or defaulting on unsecured debt?
2- is there anyway to create some income from this home? Could you provide childcare services to somebody in your neighborhood? Would the home rent for more than the mortgage? Or could you take on a roommate?
3- could you trade off childcare with another family so that you could return to work? And if you did return to work, would you be able to generate enough income to fill this gap?
His health should be a priority. Accept that you are screwed and do whatever needed to survive.
I can think of a couple of options:
1. Rent out your bedrooms. Live in the living/dining room if you have too. If you have single brother/sister, invite them. They can help taking care of your kid too. If not, find single people who want to share a room because they don’t want to waste money. Don’t get people who struggle to afford it.
2. Rent out the whole house and move to a smaller place.
3. Sell the house and move to a smaller place.
Personally I would do 1 because not only it can cover the mortgage but may be able to give you some cash to survive on. You can also scale it up and down if needed. Just make sure you have a clear lease agreement.
You mentioned VA. So even when he’s out of work, he has insurance, right?
I would contact your mortgage company and ask for something called a forbearance until your husband can return to work.
What’s the house worth and what did you pay for it? Selling may be your best option and then rebuying when things are better.
I posted this in a reply, but I’d look into a forbearance with your mortgage holder. It would allow you to make reduced (or no payments) and not worry about foreclosure. Interest would still accrue, but that’s the least of your worries right now.
If they deny that is considered just not paying the mortgage anyway. It would probably take them 6 months or more to start foreclosure and by then your husband will be done with treatment (most likely). I’d also contact some local media and see if they’ll run your story (military family getting foreclosed on when dealing with cancer).
Also, if you have any questions about his treatment r/testicularcancer is a great community.