I am so excited about some news we received yesterday that I have got to write a testimony. For three and a half years, we have had issues with the FDIC and six rental houses that we bought in 2008. After only a year, the bank we used to purchase them was taken over by the FDIC due to unethical practices. Our loan was wrapped up with all the other loans that an individual had signed off on.
So for three years, we have been trying find out how to get the houses refinanced even though noone seemed to want to work with us. Our loan was shuffled to three or four different institutions. This last one got the houses in February of last year and didn't want to work with us at all. They called our note and no banks could help us because of new banking laws.
After 7 months, we had to tell our tenants that the houses were going into foreclosure. We didn't know what this company was going to do with our loan. Worst case scenario, they would take us to court and make us pay the whole loan. The reason the banks couldn't work with us is because the value of the homes dropped way, way, way below the loan price, losing 40% of their value in just 4 years.
All this time, we kept trusting God. When I say "trust" I mean we didn't lose sleep over this, we didn't have anxiety attacks, we definitely didn't lose weight! We prayed, releasing this entire situation to God to handle. We could do this because we are in covenant with God. That means we are His children and it is up to Him to make sure things turn out all right. I can't say we didn't have a care because we did care about the tenants in those houses. They love living there and I don't know what will happen to them, but I also trust that God will take care of them as well.
Yesterday, we received a notice from the agency that took over the loan. The sentence that sent me into a "Hallelujah" dance was DEBT CANCELLED. Yes...oh, yes...God did it! I've been redeemed and it was all God.
So, when you think there is no where to turn, turn to God. TRUST Him! Let Him handle the issue or relationship that you thought had no hope. Trust means to absolutely and completely let go. He knows the best way to turn the situation around.
So for three years, we have been trying find out how to get the houses refinanced even though noone seemed to want to work with us. Our loan was shuffled to three or four different institutions. This last one got the houses in February of last year and didn't want to work with us at all. They called our note and no banks could help us because of new banking laws.
After 7 months, we had to tell our tenants that the houses were going into foreclosure. We didn't know what this company was going to do with our loan. Worst case scenario, they would take us to court and make us pay the whole loan. The reason the banks couldn't work with us is because the value of the homes dropped way, way, way below the loan price, losing 40% of their value in just 4 years.
All this time, we kept trusting God. When I say "trust" I mean we didn't lose sleep over this, we didn't have anxiety attacks, we definitely didn't lose weight! We prayed, releasing this entire situation to God to handle. We could do this because we are in covenant with God. That means we are His children and it is up to Him to make sure things turn out all right. I can't say we didn't have a care because we did care about the tenants in those houses. They love living there and I don't know what will happen to them, but I also trust that God will take care of them as well.
Yesterday, we received a notice from the agency that took over the loan. The sentence that sent me into a "Hallelujah" dance was DEBT CANCELLED. Yes...oh, yes...God did it! I've been redeemed and it was all God.
So, when you think there is no where to turn, turn to God. TRUST Him! Let Him handle the issue or relationship that you thought had no hope. Trust means to absolutely and completely let go. He knows the best way to turn the situation around.
Whow, let me see if I hear you right... you went from foreclosure to debt forgiven, you have title deed to 6 rental houses for what you have paid into them since 2008? That is amazing..
ReplyDeletePraise the lord! I have been in the same substitution with 6 houses. Currently the loans are owned by a company in California.
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