Disclaimer: I am not a lawyer. I am
only publishing my interpretation of my situation. You should seek your
own legal representation for your own particular
situation. Do not rely on my
opinions or statements for your own purposes as state
and local law varies as do individual circumstances.
I have decided to renew my lease here on my rental
apartment instead of moving again. This has been a big decision
for me to make. My choices were to renew my lease, move back
into my house that may be foreclosed on or move back in with my
family. There were many pro's and con's to each of the three
choices. I labored over the decision endlessly for about a month
now. I even added a previous post asking for people's opinion on
what they thought I should do (and I got a lot of heart-felt
emails from people who knew me and from people who knew me just
through these blog postings - all were greatly appreciated and
taken into consideration in making my decision). In the end, I
have gone with my heart.
Even though living at
home would be by far the cheapest, it is the least appealing
option. I love my family, but the idea of moving back home has
overwhelming stigmatisms associated with it. Plus, rural Alabama
is not necessarily where I want to live. I have become more of a
beach person and love living on or at least near the beach. I
have decided to keep moving back home as my backup plan if my
other options fail.
I thought a great deal
about moving back into my three bedroom condo. The BIG problem
with this is that it is going back to the bank in foreclosure
soon, and Wells Fargo has yet to show me any kind of viable
option for moving back into it and pulling it out of foreclosure
(Short of paying about $34,000 to catch up the payments and I do
not have 34,000 laying around). Of course, there has been some
new initiatives taken by Washington and the Obama
Administration; but those new initiatives might not necessarily
help me in my situation. They do not even put out the
applications until the fourth of March. Also, I do not love my
three bedroom condo like I once did. A huge flashing neon sign
has been put up across the street so that I cannot even sit on
my front porch at night without my sunglasses now. Plus,
there is the hassle of having to move; and all of my furniture
would not fit in that condo so I would have to move a lot of my
things into storage. Also, I now have two roommates and the
three bedroom condo only has two full baths whereas my current
apartment has three bedrooms and three full baths.
My big hold-up on my
current apartment was the lease agreement. I did not want to
have to include my two roommates on the lease, and I wanted a
lay-off clause in the lease just in case my employer decided to
lay me off this year. It took many emails, but my leasing
company eventually granted me both of these requests. Also, I
truly do enjoy/love where I am living now. I would be hard
pressed to find another place like it especially since my credit
score has taken such a huge plunge because of my real estate
problems. I find myself truly fortunate to have gotten into this
place last year and really do not have a desire to move anywhere
else just yet. Plus, I do not have to pay homeowners association
dues or real estate insurance as a renter.
My current lease is up at
the end of March. I think I will wait until about then to sign
the new lease just in case Wells Fargo comes back with an
appealing offer on my three bedroom condo. Otherwise, the Wells
Fargo condo will go back in foreclosure; and I will be living
over here in my rental unit. Regardless though of what happens
with Wells Fargo, I cannot base my decisions on what might
happen with the Wells Fargo foreclosure, and I want to live an
enjoyable life for as long as I am able. I do not want to live
somewhere that I do not want to live.
I will let you all know
what eventually happens at the end of March. Wish me luck, and
thank you for all of your kind wishes.
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