I’ve been there. I had to walk away. Actually, I ran away. My paycheck no longer could stretch in every direction. I tried with all of my might to keep a roof over our heads, but it seemed that roof became too expensive, and I began looking around for other options. One day I just decided it was time to leave. No, walking away from a mortgage is not what one wants to do, but what one has to do in order to survive. For me, it was not a painful experience as much as a relief.
Life is not just working all week and coming home with a paycheck which doesn’t even give
you enough wiggle room to enjoy the barest of pleasures. Dodging the creditors, saying “No” to the kids’ requests all the time, and making last year’s clothing do becomes even more depressing. It seems, at that point, there has to be a way out. For me, it was foreclosure. I do not regret my move at that stage of my life. The going was rough for about 2 months. We lived in hotels and motels, but finally found a very comfortable, affordable apartment which fit snugly within my means. We were back to the business of living in no time, and I can’t say I looked back. Instead, I began to look forward to enjoying some of the luxuries we were unable to afford when oppressed by a mortgage that was far above our income. Fortunately for me, I still had a steady job.
I’ve talked to people who had to undergo what I went through. It seems they all took walking away in their stride. It’s a simple formula- “If you can no longer afford it,
give it up while you have your sanity.” And we all realized that life goes on, and we can
survive. One of the men I talked to told me he went to Houston because there was a boom there. His purchased a very nice home, and as along as the boom was on, he and his family were extremely happy. When the boom stopped, his job ceased. Faced with the inevitable decision of leaving this lovely home, he walked away with few regrets. Yes, he knew he might never own such a home again, but as he saw other houses on his street one by one being boarded up, he knew he wasn’t alone.
It use to be that taking a foreclosure was a shameful course to pursue. Not only your
relatives felt sorry for you, but everyone who knew you, however, that perception has changed dramatically in recent years. Foreclosures are almost like changing clothes. Family and friends are just glad that “you” have come out alive and well. I suppose there are lots of
jokes about foreclosure now. There have to be, but the jokes, though undergirded with a tinge of sadness, make you laugh anyhow. Yes, we must laugh now, because there is no need to cry. There is no need to look back. We, instead, must ask ourselves the question, “Can we move on in hopes that tomorrow may bring back the reality of owning another dream home?” I feel the answer is always “Yes!” Emphatically “Yes!” Because we are survivors!