Oct 1, 2008 7:27 pm US/Eastern
What's Worrying You: 'Government Abandoning Us'
Overcome With Health Issues, Frank And Peggy Schultz Of N.J. Say It Seems Like No One Will Work With Them
JACKSON, N.J. (CBS) ―
What's worrying millions of Americans is watching failing banks being bailed out by the government knowing they're being left to sink or swim.
Like Frank Schultz in Jackson, N.J., who wrote to CBS 2 HD:
"We are in bankruptcy/foreclosure court and having a very difficult time making ends meet with my wife out of work. Now I am concerned that all the government wants to do is help big business and not the people who need it."
For Frank and Peggy Schultz, a healthcare crisis has morphed into a homecare crisis.
"Very well strapped," Frank said, describing his financial situation. "We've gone through our savings."
In March, Peggy suffered a stroke that has her on oxygen and unable care for herself.
"I was able to run the whole house," Peggy said. "Now, I can't even run half of it."
The couple's income has been slashed thanks to medical co-pays and Peggy's inability to return to work. Because Frank's correction officer's salary only goes so far, the mortgage has suffered along with Peggy, so much so that....
"Right now we are in bankruptcy foreclosure, chapter 13," Frank said.
"Before we had two paychecks, now we just have one," Peggy added.
The couple is now in danger of losing the only home they've ever known and they're frustrated as you might imagine because they played by the rules until this medical nightmare came along.
"Why won't the mortgage company work with us?" Frank lamented.
Toi Collins runs the Affordable Housing Alliance and said the best thing the couple can do now is contact federal housing authorities in hopes of a negotiated lifeline.
"It's sad. It's sad," Collins said. "They are familiar with the process and they know how to talk the talk and try and get a realistic and affordable workout plan for the client."
With a monthly deficit of $2,000, Schultz knows he's running out of time and options.
"That's my greatest fear right now. Someone knocking on the door, the sheriff's office telling me your house is going for sale. I have no place to go," Peggy said.
Approaching their mid 50s, the couple is now learning how to live at the mercy of the court, the mortgage companies and a body's ability to heal.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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