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Old 04-29-2015, 05:49 PM
 
Location: Leaving, California
480 posts, read 841,778 times
Reputation: 738

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Quote:
Originally Posted by icapri View Post
I am having some trouble figuring out what to do, mainly because there are so many weighing factors.

Should I consider selling or even a short sale? My monthly mortgage payment is way less than any monthly rental would be. OR have I just hit a bump in the road and need to stay focused and keep going down my list of fixes? Any constructive input is greatly appreciated.
I feel for your challenges, and it's so nice to see that you're stepping up to them.

I wouldn't consider a short sale, not at all, especially if your payments are less than a comparable rental. Because of the mortgage crisis, they extended the time period that a short sale will affect your credit. It will limit your lending options for 7-10 years. (Used to be 3 years.)

On the other hand, I would encourage you to have your pre-teen read this thread. You did a really good job of framing your situation. Kids are smart, even if they aren't very experienced, and don't necessarily see the big picture. Your pre-teen could show a little sympathy and empathy, and a little team spirit (not just teen spirit).

Rather than dumping on you and making things worse, sounds like a certain someone could learn a little something about what it takes to own, be responsible, and sacrifice current effort for future comfort.
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Old 05-01-2015, 10:21 AM
 
566 posts, read 781,631 times
Reputation: 675
For all the well-intentioned advice to do one project at a time, for people who are struggling financially just to keep food on their tables and a roof over their heads, there may not be any money left over to repair or replace what's necessary to maintain a healthy home...and I'm speaking from experience. Life happens, so please, don't bang yourself on the head for what's happened. Just keep moving forward.

I think you can find a buyer for just about any property in any condition, if that's the way you want to go. Conversely, how much do you want to stay in the home? Is it because you love it or because you feel as though you'd be giving up after all the work you've done on it?

In either case, I've got a couple of ideas and might be able to help. If you're interested, please PM me. Thanks.
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