Dogfish...man, great post! I read this thread when it was first posted, ran into the "cats" thing and closed it out.
The advice you gave was so spot on, it blows me away. Tell it like it is with compassion and of course experience. Absolutely awesome!

+1... Bottom line is the cats have to go, or you're gonna be living in a van down by the river, eating a steady diet of government cheese. Sounds like Mom and Dad are shell shocked by the situation they're presently in, and are unable to deal with it realistically. Denial and depression have to be part of the problem, that's understandable.
Counseling and/or medication might be needed to help get them moving towards resolving this dilema. Good luck.

Dogfish said it well of course. Coming from the Mortgage Banking world, which I have gladly exited BTW, my best advice is that your parents have unfortunately lost the right to make their own decisions regarding how and where they will live. The sooner they realize this and start making true sacrifices that will hurt but not kill them, the sooner they can start rebuilding.

Foreclosure/BK are not the end of the world. You can rally back and be just fine after paying a big price for 2-3 years but now is the time to buckle down and realize the situation they are in. Even for 50+ yr olds its time to grow up, dump the CATS, accept the reality and start to rebuild.

BoA was the second largest recipient of bailout money from the public,which they were supposed to use to modify loans and help homeowners in distress like this. Why wasn't bank of america forced to go into bankruptcy? So much more sympathy for BoA them than someone that lost their job or can't find one and can't get the bank to at least try to modify their loan.

Hope your parents realize this is their fault and not your sisters.

I don't know how much work experience you've had, or your age, but think about a few things when you go in a speak with a potential boss.

Every job I've gotten I've been very poorly qualified for, BUT, these are the things that I've done to get the job and keep it.

1. Tell your employer that you'll "warranty yourself." Tell him that if he lets you have a shot at the job, that you'll work free for first week. If he doesn't like what you're doing, then he doesn't have to pay you. This may be hard to do if you're really strapped for cash, but it shows him that you have a lot of confidence in yourself, and reduces the risk for him.

2. Be the first one in the door and the last one to leave! You show dedication by going above and beyond, especially in the first few weeks of your job.

3. Offer to work extra days. If you're doing something where deadlines are frequent, you can quickly become an asset to the company if you're willing to go above and beyond.

4. DON'T F****** STEAL from the people you work for!! I realize that sounds horribly obvious, but you would be amazed at how difficult it is for employers to find someone who simply shows up on time and doesn't steal from them.

5. Say "Yes Sir" and "No Sir," and nothing else for the first few days. Doesn't matter if you're talking to your boss, customers, or other employees, they all crave respect, and will come to you if you give it to them.

6. There is no such thing as "Downtime." Employers pay you for every second that you're there, and they HATE paying you to sit on your A**. There's work time, and cleaning time. Nothing else. If you're new at a job and don't know what you should be doing, start cleaning. As you're being trained, you're going to be a pain in the A** for your manager. They don't really have time for you and need to know that you can be left alone for 10 minutes and not end up twiddling your thumbs. Sweep Sweep Sweep.

7. Take responsibility for your mistakes. Your employer is responsible for every product that his company sells. If you've screwed up his product, he needs to know ASAP. His reputation is on the line if he's putting out faulty product. If you break something that you can afford to pay for, then offer to pay for it. If you screw up a job, then offer to stay late and do it over. Tell him you don't want to be paid for the extra time. You're supposed to MAKE money for the company, not COST them money.

8. Take pride in everything you do. If your job is to sweep, then sweep until the floor is immaculate. If your job is to deal with customers, then remember their names, shake their hands, and make them your friends. Being a minimalist in highschool is the cool thing to do, but in the real world it's not. Go above and beyond and you will always be rewarded.

9. Mimic the workers who are successful. Imitate how they dress, how they speak to customers and the boss, and they work they do.

10. Leave your cellphone in your car! This is another big pet-peeve for bosses. They HATE seeing you texting or hearing your phone ring. Personal conversations while you're on the clock is stealing company's time, and your boss will notice. Same goes for talking to other employees. Wait until lunch or after work if you want to BS and talk about your feelings.

11. Let your boss know that the success and profit of the company is first and foremost. Talk to him about efficiency and how you can do things better. They'll take notice.

12. If you decide to quit at some point, give your boss lots of notice and offer to spend extra time helping to train your replacement. Keeping the boss on your good side usually ensures you a job should you decide to return, and gives you a great reference when applying for your next job.

If you can do all these things for 6 months, you'll move up the chain FAST. Many employees are only working because they show up and do the minimal work without causing any problems. Even if you start out at minimum wage, you can make real money once you've blown past the dead weight.

The bottom line is to just take pride in yourself. The work that you do brands you. You need to always work to better yourself and promote your brand. Just like we want to buy the name brand cheerios, employers want to hire the name brand employees.

Good luck,

-david

13. Bring your Boss some smoke Salmon.

14. Make the Boss a birftday cake, on his special day. Make sure to to attach a hand made card, telling him what a good Boss he is, and how fortunate you are to have such an employer. (Seen it done)

15. Light the Boss' smokes for him. (Seen it done)

16. Do not feel bad for being called a suckass. Everyone who calls you that will be laid off long before you, regardless of real skill.

Outstanding suggestions. Do them all; and on each of the odd numbered ones, give the boss a cat!

Since your dad is retired,your mom lost her job and your sister is the only one working and is going to move to Cali, maybe time for you to man up and get a job and help your parents out in this situation... Aren't you in your mid 20's and living at home ?

Almost went through the same situation, was able to sell the house and get some equity. Regarding the meds, take the advice about trying to get on some of the programs where the pharmaceutical companies will provide non generic drugs at little or no cost. Go to the drug companies websites for more info, or contact the social worker at a local hospital-they are familiar with the programs-I know this from experience. Most chain drug stores sell generics at really low prices; as low as 10$ for a 90 day supply. Check out Wal-Mart, they were the originator of the generic drug plan. If they need insulin, Wal-mart sells Humulin R over the counter-no script needed for about 25.00, half price of anyone else.
Been there, done that, got the t-shirt...best of luck with everything else. I was in a pretty deep hole about a year ago and was able to persevere-it can be done.

David,

Are you suggesting that we shouldn't be posting on PP while we're at work too?

drifter,

You can't beat encouragement like that. It's always best when it comes from those that've been through something similar. Still we're all rooting for you just the same. It takes a lot of strength to lay it out there, so stay strong and persevere.

No no no. It's all a facade anyways. Just be good for the first year or so.

Retirement is NO TIME to have "any kind of payments...... Let alone, a $2000.00 house payment......

Cats have got to go......If you one is working, then have lot's of time to do some home cooking.....park the cars, cut back on all the "nice things in life"....internet, movies, turn down the heat.

Problem we have today......people have "too many wants" and no way to pay for all they want. Credit cards, should be turned into "debit cards"....that way "you don't have $$$$$ in the credit union", you just don't buy.

Prescription drugs....I realize that "generic should be used"....but that is not always possible........Tough for me to believe that Drug companies are allow to "set the prices" on the drugs they sell.....

I wish them well.....bankruptcy is not the answer....other changes have to be made....

This may be of no use but have your parents looked into paying for cobra in order to keep your mothers insurance. It may not be worth the $300+ per month if it won't save much on the price of the prescriptions. Cobra saved me a ton of money two years ago when I was laid off and then tore my acl.

BK serves a purpose in a foreclosure.

What's a "BK"???????

BK = Bankruptcy.

Losing a home is a tragic event. Being saddled with debt after a foreclosure doubles it.

Using a BK to increase the amount of time to allow for:

1. A sale of the home.

2. Time to find another residence and clean loose ends up with the current home. Moving 10-20 years worth of a homestead into a small home/apartment is an ordeal.

3. Attempt to get the lead bank to review your situation closer and determine if a workout/modification would really work without all of the ancillary unsecured debt service (credit card payments). You will have their attention.

The third point is very important. If the family genrates sufficient income to pay heat, light, W/S/G, and the mortgage after wiping out the unsecured debts, including medical bills, they may save their home if they can prove their point in court.

I don't suggest BK as an option very often, but sometimes it makes sense.

It really isn't the time to say, "well, you should have done this....." because the horse is already out of the barn. It is a time to say what needs to be done going forward.

Best of luck.

cobra fopr 300$ wish i could of gotten off that easy im paying 750$ a month till my benies kick in at the new job and thats just for the wife and kid i am floating myself...