- This topic has 22 replies, 1 voice, and was last updated April 10, 2007 at 8:08 pm by .
- April 10, 2007 at 8:08 pm #251526Guest
I completely understand what you guys are going thru.I just recently changed jobs.I work FT and make a good base salary plus commission. We live in Maryland and rent. We have a 3 bedroom apartment and pay 1650 a month. Which is probably going to go up to over 1700 in the next few months. Right around the time our lease is up for renewal. My husband is a self employeed personal trainer and doesn’t bring home much money. But He is there for our daughter when she gets home from school so we don’t have to pay for child care. We are still living paycheck to paycheck and barely making it. My car was about ready to be repoed when my mother paid it off in full and now I pay her. The car pymt went from 455 a month to 260 a month which has helped a great deal. I have about 20K in debt that I have not paid on in a few years and some payday loans that I took out in January. (just so we could pay the rent and buy food). We want
to buy a house, but we can’t afford one in Maryland. I am thinking about filing for Bankruptcy. But I’m not sure how that will effect my credit score. ( hopefully it will go up) Things will get better. Jessica
wrote: Thanks for the info. Our local friendly credit union took the equity in our home. Long story, but we did not get to use it for the home
projects we intended to use it for. Still have a bill to pay though. 🙁 Like we needed yet another bill to pay anybody each month. I think most of the problem is the constant, overwhelmed feeling that is there pretty much constantly. I don’t truly want to sell my house. I don’t truly want to file for bankruptcy. I want the constant, overwhelmed feeling to GO AWAY!!!! I want the phone to stop ringing off the hook, but when we answer it, there is nobody there. I shop with a grocery list (every time). Coupons are good when I can get them for baby formula and diapers. We don’t eat too many convenience foods, which is what most of our coupons are for it seems. I bake cookies and brownies from scratch for lunches. My hubby and I eat at home most of the time. If we order food, we order the smallest portion possible as to not waste. We take
our lunches. Gas is now $2.85 a gallon (no kidding, just passed a gas station a few minutes ago) and it eats up a huge portion of our budget. (Hubby drives almost an hour each way to work daily and there is no public transportation option. I use public transportation to get to work, so I use a lot less gas. It saves some money.) There seems to be a lot more month left at the end of the money and it just wears on us. There always seems to be something else. Just one more thing. If selling the house would truly help us out of this situation, I would consider it. After paying to list it, sell it, pack, store stuff, sell stuff off, move to the new place, clean them both, make repairs, pay the realtor fees, pay off the loan, pay off the equity loan, would there be anything leftover for us? I am thinking it will be damn close. We haven’t lived here
long. There are soooooooooooooooo many things that nobody ever told us about being homeowners that sometime make me want to return to renting an apartment (I am not there just yet.) I know that things will eventually turn around, but sooner would a lot better than later. Herlean
wrote: Herlean, what kind of equity do you have in your current home? Will you
walk away with $$ after the fact? The housing market is not working in a
sellers favor right now, have you had an analysis done to see what the
current market value is? I am a Realtor and also a Mortgage Loan Officer
so the first ideas that run into my head are What are you going to gain
vs. What are you sacrificing. A realtors fees vary but I definately do not
advise trying it on your own
if you are already stressed and in a
financial bind. Where I live, Realtors get 6% of the sale price.
> I am still debating selling our current house (a single family residence
> with a yard) and moving into a condo. Among the ideas that are running
> through my head:
> Will getting a condo that is less expensive than our current home
> really save money? What about condo fees? Will they negate the
> savings in house payments? Will we ever be able to afford to buy a
> house like this one we currently have again in the future, since real
> estate appreciates? I really want our kids to grow up in a house
> with a yard to play in, like we have now, but the debt situation
> sometimes seems like a mountain crushing down on us and I wonder if
> one is truly better than the other. Ideally, we want to keep our
> current house, but if we have to sell and move, how much does a
cost? The cost of storage of our stuff while open houses
> are running? Very little extra $$$ for a storage unit. Forget PODS
> like you see on t.v., they are really expensive. Will we truly be
> saving money by moving? The cost of preparing the house for sale,
> packing, storage, moving, finding another place, paying the realtor,
> fees associated with all that (does anybody truly know what the costs
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