[corsusmash]

We have a house thats worth about 5.5 million, and we have an equity loan for about 70% of that amount. our monthly payments are about $9,000. But we have no money left.We're now behind by 2-3 months in our payments. Currently, we are renting most of the house, which brings in about $7,000 monthly. me, my sister, my mom, my uncle and my grandma are living in our car and in motels. i am 17. my mom is a widow as my dad committed suicide years ago.we have had this house for 30 years and it was bought at $200,000.We want to sell it as fast as we can, unfortunately this is obviously the worst time to do that. We are also seeing if we can take out another loan for $200,000 to hold out until we can find a buyer or work something else out. That is in the works but is not guaranteed.my family has grown in this house for decades, the immigrated here and have expired visas and limited work opportunities. the house was inherited by my grandfather, who abandoned us. if we lose it we have nothing, no money, no savings, will all be on the streets. i rarely have dinner anymore. We have nothing except this house. how long until they post us for foreclosure? I'll do anything to help my family,please help im desperate. im 17 in high school

[carioki37]

I seriously dont think this is a true senario.