I am new to AARP & inexperienced in this on-line chat stuff. I AM DESPERATE. We moved to Kansas to retire, bought some income property.Between renters not paying,destroying prop.& sticking us with utility bills,the bank took all+my home in 2007. We have 1 bldg. thru private contract.We live in 1 unit & rent 3.Balloon payment due Dec 1,2009. Spoke with bank last year.Concluded from conversation, they would lend $$, Told us yesterday..NO! Prop value is $96,000. Still owe $52 from $ 85 purchase price. Looking for full mtg. or contract CAN BE EXTENDED for $10,000 cash now. Where do I go for OBAMA $$$? Local banks told me NO!! 2nd prob=credit rpt. We spent lots of $$ remodeling & then repairing between tenants-maxed out credit cards. Since this now is my primary residence....how do I save it??? We thought with the prop almost half-paid for, a mtg. would be a no-brainer. I need $10,000 min. now. Besides rental income, my husband gets disability & I get SS in 3 months. No problem paying it back.
I thought losing my whole retirement fund in the market in 2003 was distressing, but this has me in a panic. HELP! HELP! HELP! If anyone has $$ to lend, or can refer me, please contact me. My email=carolinholton@giantcomm.net Thank you. Times running out

RHunnicutt, Question...In the 48 yrs Karl & I were married both our names were on the deeds. He passed away in 04, I paid off the mortage & it is in my name only. I am concidering selling this lg house for a small town house. Being as I would be the only person buying, would I be qualified for the 5thou. deductable by the goverment as a 1st time home buyer. I will pay cash for my next home. Thank you for reading my question. CarolannP @ somerset2772@yahoo.com

My son owns a 2-family home in MA and I live in one of the apartments. He is having problems meeting the mortgage and I (over 65 years old) was hoping he could transfer the deed to me, he still owes money, and get a reverse mortgage to pay off the mortgage balance. Is this possible and do you think I should approach the bank (mortgage holder) with this idea? We are getting desperate and would appreciate any suggestions you may have. Thank you. Mary