Now I know why. . .

So after spending the last couple of hours filling out paperwork and gathering documentation for a pre-foreclosure sale of our home, I now understand why folks just walk away and let their homes be foreclosed. I have a college degree in mathematics and the paperwork, budget sheets, and documentation required were challenging for me. It doesn't help that I am completing this at the 11th hour before the deadline set by the bank for the application to be reviewed.

We are trying to go about this process by owning up to our mistakes, humbly accepting the consequences, and looking out for everyone's (including the bank's) best interest. We have a committed real estate agent who has worked so hard to try to sell our home. No one wants our home - the market is too saturated and honestly there are things about our home that I would change, so I understand the reluctance on the part of buyers to commit.

The reason we are applying for a pre-foreclosure sale is that it is a bit better for the bank because the property doesn't sit vacant during the foreclosure process, a pre-foreclosure sale usually brings a higher return thanks to that fact, and the bank's (and our) hands are washed of the property sooner.

We desperately want this to be over and in the past. However, the process has definitely dragged on such that I can totally see a need for some kind of support for people in this situation. You will hear people mention the FCCS (Family Credit Counseling Services) as a support organization. We called them to get some advice on our dilemma and they called us back 6 weeks later, with an appointment available about 4 weeks beyond the phone call. Gee, thanks for your help and support!

Laying your head down on a pillow under a ceiling that you are no longer paying for leaves you feeling irresponsible, trapped, and definitely destroys the sense of peace a home should provide. The housing crisis in America is far from over, and good people are affected. We are not victims of a bubble market - instead we have made bad choices and are paying for them. That doesn't mean we don't deserve efficient and due processes to move on forward. Something needs to be done. . . wheels are spinning in my head because I can't stand to see a problem go unsolved.

We'll see how our pre-foreclosure sale application goes. I suspect we'll get told that something wasn't included (even though I have quadruple-checked our pile) or some other excuse will cause it to get stuck in the mud. As for us, we are moving soon into a nice rental house and at least the "home" concept can again be a part of our lives.