You are slightly amazed, but intrigued and as you start working through it, it looks like they’ve been getting letters. You now see their situation and then you ask about the house. Now, granted you knew about the house because you did a little bit of research; but as you look at the house you’re thinking, “Well, maybe in best condition it would sell for $150,000 to $170,000 in best condition, but it is not in best condition.”

There are a lot of things that probably need to be done to it. It’s obvious that they haven’t been taking care of the yard like they used to, but of course they have no money. When they bought the house, with your help a few years ago, they paid just a little bit less than $200,000. The two mortgages on the property total about that amount today. 

Homes in the area haven’t been selling; in fact the few that are on the market right now have been on the market for well over 9 months.  Their combined payments on the two mortgages, first and second are roughly $1800.

They both said that was fine when Hank was working. Now that he’s living on unemployment, they do not have anywhere near that kind of money to spend, and unless they win the lottery. They do not see what they can possibly do to either make the payments, or catch up with the past payments, which would take about $6,000.