Our short sale began 125 days ago. Today we lost our buyers. Bummer, because all we needed was a closing date, everything was negotiated. The banks took too long. Not only was it a bad deal, it was one that was taking an eternity.
So, now we live 4,000 miles away, with a house still on the market, and a mortgage payment that isn't going away anytime soon.
Its time to put on my big girl panties, and take some action. Cause, all the crying and whining in the world won't fix this problem. Too bad, huh, because I am fairly good at those two thing! LOL! At first, I was hysterical. Then, I was angry. Now, its time to abandon the short sale idea, and try a new tactic.
That will begin with, return the rental car. Yah, I have to take the car back. People are so friendly here- so I think I can make this work. I need a ride back from the car rental place. I need a ride to the OB next week. If I can't get a ride to the OB, I need to spend $66 on cab fare. But, I think someone will help me. I will likely need a ride to the commissary, so I can buy food again at some point. And, I need to take a long slow walk to the housing office a couple times over the next couple weeks, to turn in hotel receipts and get a house. If the house isn't on base, well, then I will need a ride there. But, I have made at least 8 friends. I think someone will rescue me. It will save me over $500 to do this.
Then, we need to turn off the utilities at the house, its not going to freeze, so I think this is do-able.
We need to reset the price of the house, and pay off the home-equity loan. That way, we can sell it for less. This is nearly possible. Not 100% possible at the moment, but I think over a few months, it could happen. Tenants perhaps? I am not sure about that one. But, if we got a year lease signed, we could frantically pay off this place, and drop the price next year.
No dance, no swim lessons, no t-ball or sports. The extra-curricular activities for the kids must me free stuff. This will be a major change for us, but we can do it.
I have all my baby gear, I have all our homeschooling supplies. I have clothes for everyone, and I can cook frugally. I have done that before.
So its make mortgage payments, pay off the home equity loan, consider renters, and re-list this house. We will not do a short sale again. We will not wimper and cry. We will tighten our belts and get the problem solved. We will pray, and seek wisdom from the Lord.
Life will continue, and I can continue to be thankful in all things- God has not abandoned us. He has blessed us in so many ways, and I can trust that he will continue to care for all our needs.
2 comments:
OMG--you have GOT to be kidding! After all that! I know this is NOT what you want to hear....but I really think you were being TOTALLY ripped off with that deal anyways. If you need help with renting, you know I manage my rental and we are just around the corner. I can use our lease and I know all the laws regarding rentals. Just let me know. I will help anyway that I can. At this point--I would consider 2 options. 1 is bankruptcy which I don't think you can do cuz you can't have your credit wrecked OR 2 renters. Renting it is going to be super hard being so far away. You need to screen people REALLY well. We learned the hard way about this....AND after learning the hard way, we got very smart.....we even let our property sit empty for over a year because we could NOT find decent people to rent it. You do NOT want to get the wrong people in your house. Once they are in there, it is harder than hell to get them out and with you being out of state, having to go court is not an option for you---so I can't STRESS enough about screening.
Thank you for the advice. I think we have a good plan. We will pay off the second mortgage ASAP, with our personal resources, and help from family/personal loan perhaps. Then, we can continue to list the property at a low price, and be able to handle the mortgage payments in the mean time. No more deals with the bank or short sales. It will work out. I don't think that we are ready to consider renters. At least, summertime is just beginning. That is one big redeeming factor in the whole thing.
Post a Comment