[gr8pyrz]

I just fell off the statistics list, since my unemployment has run out and there is no extension.

Our house has been on the market just about 5mo and we've lowered the price 2x with no interest.

DH hasn't worked but 40 days so far this year either (he's a carpenter).

I can see for the first time why people are walking away from homes. We've owned our home for 10yrs and it would make me sick to have to walk away, but when faced with taking what money you do have in the bank and putting it toward renting where you can find work, I can see how it's happening. My worry is that we'll eat through our savings trying to save our house and make a go here, and we'll get to the end and still not have stable employment and then have no way out at all.

I'm holding out hope he'll get some work and I'll be able to find something.....but I still don't think our house will sell.

I have to wonder if MI gov. in particular figures there are no new jobs coming in, so why bother to approve an extension. Whether you pay people 6mo, 9mo or a year there are still no new jobs.

[malamute]

I'm surprised the MI gov would pass up another government program. Things might be getting so tight with the working people leaving and too many welfare and unemployed types staying that even the MI gov would start to see the problem in that.

It's going to be a problem, too much joblessness doesn't help one's resume, paying someone not to work for close to a year doesn't really do them any favor because most employers look for job continuity on the resume.

[dragon_fly_12]

If you have some savings, you should definitely consider using it to get somewhere you can find a job. That may be the difference between losing everything you have and being able to hold on.

We left a year ago this week for jobs. We still have a mortgage on property in MI that we pay on every month. Our monthly finances are tight because we're also paying living expenses where we're currently renting. But it feels a lot better to be making ends meet than to be worrying about where the money is going to come from. Unfortunately, we can't keep an eye on the property except maybe coming back once a month, but our neighbors all have our phone number in case of emergency. Once we got on our feet from moving.. It was like a ton of bricks off our shoulders. Someday we'll be able to sell the property and move on, but we've accepted it just isn't going to happen any time soon. Meanwhile, we're going to at least enjoy life as best as we can even if it means we don't get to put away as much in savings every month, going out more often for fun outings, or even enjoying expensive coffee more than once in a while. We're happy for the simple fact that we are surviving. Good luck to you!

[kelly261]

Originally Posted by gr8pyrz

I just fell off the statistics list, since my unemployment has run out and there is no extension.

Our house has been on the market just about 5mo and we've lowered the price 2x with no interest.

DH hasn't worked but 40 days so far this year either (he's a carpenter).

I can see for the first time why people are walking away from homes. We've owned our home for 10yrs and it would make me sick to have to walk away, but when faced with taking what money you do have in the bank and putting it toward renting where you can find work, I can see how it's happening. My worry is that we'll eat through our savings trying to save our house and make a go here, and we'll get to the end and still not have stable employment and then have no way out at all.

I'm holding out hope he'll get some work and I'll be able to find something.....but I still don't think our house will sell.

I have to wonder if MI gov. in particular figures there are no new jobs coming in, so why bother to approve an extension. Whether you pay people 6mo, 9mo or a year there are still no new jobs.

I also found it shocking that there was no unemployment extension for MI...what's Granholm thinking???

[suydam]

How on earth would Granholm pay for an extension when our state is running in the Red already...

[Prinny]

Why would it be the govenments responsiblity. People need to save and prepare for emergencies when they buy a home and people need to use savings for emergencies. Tax payers can't be expected to foot the bill for everyone or society as a whole would be enocouraged not to work. Sorry if that sounds cold, it's not meant to. Put your house out as a rental for the time being. It's a tax deduction, speak w/ a tax attorney or financial advisor about this and you have a savings, many don't. You a blessed!

[gr8pyrz]

Originally Posted by Prinny

Why would it be the govenments responsiblity. People need to save and prepare for emergencies when they buy a home and people need to use savings for emergencies. Tax payers can't be expected to foot the bill for everyone or society as a whole would be enocouraged not to work. Sorry if that sounds cold, it's not meant to. Put your house out as a rental for the time being. It's a tax deduction, speak w/ a tax attorney or financial advisor about this and you have a savings, many don't. You a blessed!

I'm sorry but what the hell? Are you serious? Unemployment Insurance is just that INSURANCE. We all pay into it by WORKING. How in the world with an 8.5% unemployment rate (and that's just the numbers of those claming beneifts right now) do you think it's encouraging people to not work? I went to a job fair yesterday and I was 50th in line 45min before it started. By the time I left they were lined up to the main street and down a block !! Another job fair in this area few weeks ago had over 2000 people show up and some didn't even get in the door. You honestly believe for one minute that unemployment is encouraging people to not work? You are either not out in public or oblivious !

And although I don't need to explain to anything to you, our house price has been dropped 3x in 5mo and it is in fact up for rent. Have you by chance done any research into the housing market? Do you have any idea how many houses are up for rent? Not including the literal hundreds per city for sale.

Get a grip on reality. No one is expecting anyone to foot the bill. We all paid into the system and could use the help while we track down the elusive job for 10$/hr !

[Rapunzll]

gr8pyrz, you are correct. None of us are getting rich on the $362. before taxes we are making on unemployment that's for sure.

[Ivorytickler]

Originally Posted by gr8pyrz

I just fell off the statistics list, since my unemployment has run out and there is no extension.

Our house has been on the market just about 5mo and we've lowered the price 2x with no interest.

DH hasn't worked but 40 days so far this year either (he's a carpenter).

I can see for the first time why people are walking away from homes. We've owned our home for 10yrs and it would make me sick to have to walk away, but when faced with taking what money you do have in the bank and putting it toward renting where you can find work, I can see how it's happening. My worry is that we'll eat through our savings trying to save our house and make a go here, and we'll get to the end and still not have stable employment and then have no way out at all.

I'm holding out hope he'll get some work and I'll be able to find something.....but I still don't think our house will sell.

I have to wonder if MI gov. in particular figures there are no new jobs coming in, so why bother to approve an extension. Whether you pay people 6mo, 9mo or a year there are still no new jobs.

When I got married, my mother gave me one piece of advice "Leave before it's too late". That applies in more than one situation. Once you realize you can't keep it together here, it's best just to walk away. Turn over they keys. Leave the property clean and well kept up. I can understand making the decision to walk away but I don't get why some people destroy the property first. It's not the banks fault you lost the house but it's their loss if you trash it.

Be honest and up front. Tell the bank what you're doing and why. You might be surprised. I've heard of banks approving sales below pay off value and accepting it as payment in full just to avoid foreclosure and the possibility of the property being trashed on them. Talk to them. See what your options are.

We're probably going to sell out house to a broker. Fortunately, I'm not upside down on it in spite of losing our shirt on it. Each time we refinanced, we did it to make improvements and didn't max out. I can sell to a broker and pay off the mortgage but I lose everything we put into improvements and the las 13 years of house payments were nothing but rent. Our economy is sad.

The only place we can go is Alabama. My husband's company headquarters is in Huntsville. I have a masters in engineerng and a masters in teaching so I should be able to find something in the south. And housing is cheaper there. You may find that even though you lost this house, you'll end up with more house when you move to greener pastures.

I don't think anyone blames people for walking away from mortgages when things go bad. It's the ones who took on mortgages they couldn't afford we shake our heads at. If you went in with good intents and thngs just changed, just be honorable and honest as you walk away.

Good Luck.

[malamute]

Originally Posted by gr8pyrz

I'm sorry but what the hell? Are you serious? Unemployment Insurance is just that INSURANCE. We all pay into it by WORKING. How in the world with an 8.5% unemployment rate (and that's just the numbers of those claming beneifts right now) do you think it's encouraging people to not work? I went to a job fair yesterday and I was 50th in line 45min before it started. By the time I left they were lined up to the main street and down a block !! Another job fair in this area few weeks ago had over 2000 people show up and some didn't even get in the door. You honestly believe for one minute that unemployment is encouraging people to not work? You are either not out in public or oblivious !

And although I don't need to explain to anything to you, our house price has been dropped 3x in 5mo and it is in fact up for rent. Have you by chance done any research into the housing market? Do you have any idea how many houses are up for rent? Not including the literal hundreds per city for sale.

Get a grip on reality. No one is expecting anyone to foot the bill. We all paid into the system and could use the help while we track down the elusive job for 10$/hr !

But did you pay enough into the system to justify taking out many more months?

The government does not make money, it only confiscates the money of working people. Reality means if you have been collecting unemployment for many months and jobs aren't falling out of the sky at your previous wages, they probably aren't going to start falling on you after a number of more months.

It's bad to stay unemployed for a long length of time. Employers will look for long job gaps on the resume and assume that working wasn't a number one priority of the applicant.

At some point reality means accepting a lower wage or moving on.