I had been wondering why our credit union hadn't responded to our house fire. It seemed very weird to me that they weren't interested in their investment. They've made a lot of money from us, since we were incompetent in watching our mortgage payments and hadn't realized years ago that the loan had gone into a reverse amortization. (We now owe $27,000 more on the house than what we agreed to pay for it in 1991.)
Anyhoo...come to find out, our credit union reps had been avoiding us, because they made a very serious error, and so did we. Years ago our homeowner's insurance was cancelled. At that time we received a letter from the credit union informing us that we must have insurance on our mortgaged house and if we didn't procure it, they would apply insurance to the house and add the premium payments to our house payments. Being ridiculously ignorant and lazy we thought, okay, do that. And we assumed they had. But they had not. Not only had they not procured insurance for the house, they actually filed a paper waiving the insurance, without informing us.
So now we have a burned up house, no insurance and a mortgage we still have to pay for a house that is unlivable, unsellable and unrentable. Do we have savings to fix it up ourselves or raze it? We do not.
My dreams of being debt-free are wisps of mist. The credit union may pay for damages out of their own bigger pockets. We may have to take them to court. Either way we are exposed as extremely incompetent folks. Our life is wide open to judgment and criticism. I want to leave for Tahiti and forget the whole thing. But I can't. Somehow I have to overcome my claustrophobia and start crawling through that very long and narrow tunnel and working my way toward that tiny pinprick of light. There is hope yet.
P.S. We found our 2 missing cats, safe and sound. The 2 injured rats have recovered. Whoopee.
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