Wednesday, July 8, 2009

T - 1

Tomorrow is the scheduled sale date for the foreclosure on the house. Our realtor has been talking to them every day. He called this morning to basically say nothing new but that he was to call back in the afternoon. The afternoon call comes and we have been given a 60-day extension. What that means is we now have two months to stay in the house, continue to search for jobs, search for somewhere else to live, continue to pack up all the stuff we aren't going to need in the next six months but want to keep. It is possible that in that 60 days the bank will accept the offer and we will have some additional time for the house to close. They may accept the offer but the buyer will be long gone investing in something else. That will give us additional time to market the house and hope for another offer. Bottom line is we have some breathing room, but don't want to breathe too much.

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