It’s July 2010, and the housing market still sucks, house prices have dropped even lower. We still own, but its not worth it.
We paid 144k for our condo. Condos in our community are short selling for less than 25k. Do the math, it’s not pretty.
Chris says to me, “So we made a bad business decision”.
I flip the fuck out… “You don’t make a business decision when it comes to having a roof over your families head”.
I was so mad… Why? He was right. (Yes Internet, he was right. Don’t let that get your head to big, hun) We were cramped, we couldn’t go play outside, because our HOA wasn’t keeping up with the grass or scorpion problems.
In November we stopped making our mortgage payments.
Not because we couldn’t afford it, but because it wasn’t worth it financially to us.
We walked away from our home.
To make it even more heartbreaking, it was our first house together. We brought Liam home from the hospital there, had birthday parties, family dinners and watched the boys grow out of being babies.
It’s hard knowing that the road you have chosen to take will eventually leave you with 7 years of horrible credit, not being able to purchase a car or anything on credit a credit card, much less even get a credit card or a loan…
I am still upset over it. We are being optimistic about all of this, we didn’t know this was going to happen, no one did. I know that we aren’t the only people that are going through this. Hundreds of thousands of men and women are going through this too, and some of them are losing the places they call home because they got in over their heads, and they have children. Nothing is ever easy when you have kids.
To Be Continued. . .
To Be Continued. . .
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July 22, 2010 at 4:16 am |
K, don’t feel bad about what you and Christ chose to do. Sometimes you have to cut your losses while you can. I did a short sale on my place and it finally closed at the end of May. I feel better to not be throwing my money away anymore. I could afford it, but I wasn’t earning any equity and I hated the neighborhood. Breakins were on the rise and I just wasn’t happy.
I am glad that you made a decision that would benefit your family in the long run. You need more space anyhow. Home is where your heart is, the boys will make new memories as you move from place to place.
Call me if you need to vent or get away. I love you!
July 22, 2010 at 2:59 pm |
I love you so much. <3
September 17, 2010 at 8:32 pm |
Awe, hugs to you and how did I miss this post?
We are now fighting tooth and nail to keep our home. In the end the mortgage is cheaper than rent for us. This place isn’t perfect or very big but getting in the damn housing market was a bitch for us and we are trying desperately to hang on to this investment and equity.
Each family has their own circumstances and hard decisions, no one way is right for everyone.
I love you and am so sorry you are sad about this.