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Save my home from Bankrupty / Forcloser & Medical Issues



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THANKS FOR READING MY PREDICAMENT - DECEMBER 9, 2017

I’m not a veteran, but I did work with a subcontractor to the Air Force at the Cape Canaveral Air Force Station, as a Launch Pad Electrician on the Titian Launch Complexes for more than 20 years. Yea, you have to acquire a grueling secret security clearance to do this job. This was very dangerous work especially during launch time. Those towers were 300 feet high with all kinds of disruptive obstacles. There were always last minute repairs to be made to the umbilical tower as the missile was fully loaded with propellant. The missile was a living and breathing entente with the metal fuel tank snapping because of the super cold fuel. The 2 propellants when mixed together would explode and should a leak occur, the vapors of either propellant could kill you. Most all of these launch missions were secret except for NASA missions, and the satellites were used to gather intelligence during the Gulf and Afghan War, to help make our solders safe.

Due to a botched Prostate Cancer operation in 2004, I was disabled because of severe urinary incontinence. I have no control of my urinary leakage, and because I’m an electrician, the subcontractor would not allow me to return to work under those conditions. This condition of mine really sucks. You take a shower and get smelling good, put on diapers and pads and put on your nice closes, and within a hour to hour and a half, your wet and smell like a urinal. My quality of life is quite dismal, due to this constant ongoing condition.

It's been all downhill from here. I had disability insurance and social security, but that only accounted for less than 60% of my income. I lost the disability insurance of $1026. per month when I became 66 years old and now living on just social security of $1716. per month, that now keeps me relaying on credit cards just to get by, on a daily basis. I now have $20,000. in credit card debt. I once had a sizeable 401k, but because of a layoff in 1998, due to a contract change and the down turn in the stock market, along with medical expenses related to the prostate cancer operation, I have very little left.

Due to a second mortgage I acquired over 14 years ago, before the prostate cancer operation, I’m in deep shit now, because the new 10 year draw will be coming due within a year. I owe $78,000. and even if they convert it into a variable 30 year loan, that would be about $500. per month, well over my $1716. social security income. Currently my first mortgage is $729. per month with the second mortgage of a variable $250. per month (interest only) and $440. minimum credit card payments. Along with all the other household expenses, I’m in the hole ever month for $200. to $300. over my income.
I’ve nearly maxed out all my credit cards. Believe me, you have to be completely debt free and no bad luck in your career, for you to survive on just social security. The system doesn’t care if you survive in your later and retirement years, or not. The system will discard you and run over you, since you're not actively working and paying taxes. I haven't got a Social Security cola raise in 4 years, and don't think I'm going to get much for 2018, due to Medicare increases.

I’ve tried to get a reverse mortgage and refinance my home of 30 years through several lenders, but have had no luck. They say that my loan to debt ratio is too high and I owe too much credit card debt. I know if I could get a reverse mortgage or refinance my current loan, id be ok. My goal was to pay off the first and second mortgage and $20,000 of credit card debt and keep the monthly payment under $1100. per month. It would be tight, with no extras, but I could get by.

To complicate matters even more, I'm dealing with roof and chimney damage from hurricane IRMA. I don't know how things are going to work out with the insurance company, but I have $36,000. of damage estimates. I have a $3900. deductible.

Unless I can get this $78,000. second mortgage paid off, I may have to file for some kind of bankruptcy protection, and I still may end up losing my house to for-closer, of 30 years.

I’m hoping to afford 2 operations to get my incontinence problem under control and my man hood back. I would have to implant a urinary sphincter and a penal implant to be somewhat normal again. I only have Medicare and no secondary insurance. Medicare only pays 80% and I’m responsible for the other 20%+.

For all you PONTIAC ENTHUSIAST, enclosed are pictures of some of my old muscle cars I was planning on restoring. This has been a hobby of mine for the past 45 years. It really pisses me off not be able to restore these fine muscle cars, because of lack of money and physical limitations. At this point I’m willing to sell off some of these very restorable cars at a reasonable price to someone who would appreciate them, and restore them.

I would greatly appreciate any donation to help me get out of this financial dilemma and help me keep my home. If I could just get a $1.00 donation from 78,000 sympathetic folks, I would be ok. Who knows, if I should receive more donations than needed, maybe I can help someone else. This is something out of the ordinary for me to do, as a last resort. I’m not on FaceBook, Twitter or any other Social Media sites.

May God Bless you for your generosity. I’m internally Grateful. Thanks so much.

GERALD F. TERRY





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