Kathy and Dave Bain found themselves in need of more space in December 2006, when they adopted 8 siblings. With a group of 12 now living at home, a bigger house became a necessity. A stagnant housing market made it hard to sell or rent the home that they already had.
Soon they found themselves with 9 months of double payment house payments. Because of the emotional needs of their large family Kathy, the family's wage earner, decided to stay home to spend more time with the children. That move essentially left the family without an income outside of the children's adoption subsidies.
This past December they fell behind on their mortgage payments and have been struggling ever since to catch up. They contacted their mortgage company Greenpoint looking for ways to get back on track. The company said unless the family experienced a change in income, they were unable to rework the mortgage payments.
"We got behind and they weren't willing to work with us," said Kathy "but if we could start over, we could do it."
Dave Bain says it's not the payments that are the problem, but the cost of catching up. "There were penalties and interest on that back amount, so we were not able to come up with that large chunk of money to make up those payments." The Bains say they did everything they could to work with their mortgage company, but felt the lender was more interested in selling the house out from under them.
For now the couple's biggest goal is to keep their family together. They want to give these kids the stability that had been missing from their lives until now. That's why they're reaching out to the community in hopes of finding a solution. "It's not that we don't have any income," says Kathy "it's just that I can't go back to work right now."
The Bains have now rented out their smaller first home, but say they will move back there if they are without any other options.