I am 74 and soon to be 75. I am in the house I worked all these years to spend my retirement. I am still working full time. A few years ago I made the biggest mistake of my life, I got into an HEI which at the time sounded really good as it allowed me to get out of debt and get me closer to retirement. I got $200,000 from them and paid off auto loans, my second mortgage and other debt. Today I would need $412,000 to pay it off. I still owe $700.000 on my house so that puts me upside down. The only way out is to sell my home to pay off the HEI and then I will be penniless. If I wait until the 7 years remaining on the contract, I will still need to sell the house and they would get 39% of the sale. My wife would then be penniless. I need to buy out the HEI.
It pains me to ask for help as I have never done so in my life. I need to retire but cannot afford to do so without selling my home. If I do so I will not have anything left to purchase another home. I will be penniless and homeless for the first time in my life. I really screwed up.
Were I to receive more than I need, I will seek others in the same boat and lend them a hand. I am only asking for help in my current situation.
PayPal.me/richarddecker1986