Tuesday, August 23, 2016

Credit Score is Recovering

My credit score is recovering. A house foreclosure isn't the end of the world. 

I have first hand experience in this. I quit a job I hated. I couldn't keep making payments on my house. Wells Fargo refused to work with me on a short sale. I let the house get foreclosed on. Honestly, had I known it was going to be so much stress of trying to work with Wells Fargo, I would have just stopped making payments and walked away from the beginning.

I kept making payments on the house since I wanted to sell it before winter hit. I was worried about my house breaking down in the winter. Had I stopped making payments the month before I knew I was leaving, Wells Fargo would have taken over property management before winter hit. The bank hired a 3rd party service to winterize the house.

I had no idea my house was going to sell. At the time, I did what I thought was best. Hindsight is 20/20. I could have saved myself a lot of money had I walked away from the house at the beginning. Fiscally responsible? No. But I needed to take care of my mental health at the time, and walking away from the house would have quickened my return to normalcy after a terrible year at a terrible job.

If any of you are going through a foreclosure situation and want to talk about it, let me know! It's a crappy time, but it's not the end of the world as your bank or realtor might make it seem.



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