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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: i know you can all be BRUTALLY honest...
Posted by LadyMaravilla
Posted by BabyAvocado
I think $750 is too tight.
I think if you can rent out part of the house that might be your best case scenario.
I totally agree! How about renting part of the house for extra income.
I don't think relying on a renter is a good idea... First, there are safety issues unless it's someone you know. You're also taking on the responsibility of being a landlord, which many people do not want. Then, you're relying on having a steady tenant -- or roommate if your home isn't set up for a separate apartment. If you're talking about an illegal apartment, you could be subject to fines if it is discovered... It's just a big headache. I think it makes more sense to move to a place she can afford on her own, as difficult as it may be to have to move.
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Posted 11/7/07 9:44 AM  |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: i know you can all be BRUTALLY honest...
Posted by LisaW
I think that is cutting it WAY too close
ITA! You think you can live on that but then you have to think about food, heat, gas, car payments if you have one, clothing for your child. It can be pretty rough. If you can make it work, thats great, but this is hard enough on you and your child , don't make it even harder.
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| Posted 11/7/07 9:48 AM |
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leighdvm
My golden boys!
Member since 3/06 4419 total posts
Name:
Michele
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Re: i know you can all be BRUTALLY honest...
Posted by luckysmom
Posted by LisaW
I think that is cutting it WAY too close
ITA! You think you can live on that but then you have to think about food, heat, gas, car payments if you have one, clothing for your child. It can be pretty rough. If you can make it work, thats great, but this is hard enough on you and your child , don't make it even harder.
I'm very sorry for what you are going through, and I have to agree with everyone else. $750 is not enough for food, gas, utilities and whatever else pops up (and there are ALWAYS things that pop up).
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| Posted 11/7/07 9:51 AM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: i know you can all be BRUTALLY honest...
I think it will be really tight...especially if the taxes go up or something happens that needs to be fixed. Or something else that may occur with the house that you didnt counter in.
I know you love your home and you want your child to grow up in a home....
I really think that you should sell the house, and take your share and buy a condo or maybe even a smaller house.....who knows how the market will be then.....
You will basically be working for your house......and in all honesty, you do not want to have to do that.
I really think you will be much happier with a condo or a co op....and not having to struggle to make your payments or to put food on the table....
Scott
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| Posted 11/7/07 9:51 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: i know you can all be BRUTALLY honest...
I agree with the others who said you should rent out a part of the house.
good luck!! 
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| Posted 11/7/07 9:52 AM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name:
MJ
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Re: i know you can all be BRUTALLY honest...
definitely think that would be too tight for you to survive on---utilities alone for electric, heat (gas/oil?), phone, cable, water, groceries have to much more than $750 or so.....plus car payment? insurance? credit cards? incidentals for your son.....i think renting out a part of the house would be an option or selling.
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| Posted 11/7/07 10:02 AM |
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Ambersmom
Straight up nasty
Member since 5/05 7740 total posts
Name:
Sharon
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Re: i know you can all be BRUTALLY honest...
Posted by LisaW
I think that is cutting it WAY too close
Absolutely. Things come up (birthdays, car repairs, health emergencies, layoffs, etc.). I think it's a recipe for foreclosure at some point.
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| Posted 11/7/07 10:09 AM |
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Phyl
R.I.P. Sweet Mia ♥
Member since 5/06 28918 total posts
Name:
The Mystical Azzhorse! ™
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Re: i know you can all be BRUTALLY honest...
Posted by Kara
Posted by Phyl
Are your property taxes included in your mortgage payment also?
Whether they are or they aren't, I stil don't think she can comfortably afford this house and all her bills. Honestly, I don't think she can even pay all her bills on her income.
ITA.
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| Posted 11/7/07 10:34 AM |
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Re: i know you can all be BRUTALLY honest...
Your utilities would take at least half of that. You wouldnt have much left for food.
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| Posted 11/7/07 11:03 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: i know you can all be BRUTALLY honest...
I think that is leaving you with VERY little for anything extra - do you have any other bills? Car, credit cards, students loans, etc?
If you have nothing else, then it is probably doable. But otherwise I don't think it would work out too well.
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| Posted 11/7/07 11:04 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: i know you can all be BRUTALLY honest...
I just don't think it's possible given monthyl bills and the fact that you have a child and you never know what expenses might come up. I'm sure you can find a comfortable living situation that costs a lot less and allows you to have money left over and save to keep yourself independent and on your feet.
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| Posted 11/7/07 11:06 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: i know you can all be BRUTALLY honest...
all wrong. You need to have him contribute to the house. It's where your kid lives. You need a good lawyer.
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| Posted 11/7/07 11:09 AM |
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MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
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Re: i know you can all be BRUTALLY honest...
mortgage should be about 30% of take home. i think realistically w/ insurance and taxes it can be as much as 50% if you have no other debt like school, cc, or cars. you're over 75% with the current figures. IMHO opinion, way too much would be going to your housing. i do not think it's realistic to keep the house.
Message edited 11/7/2007 11:17:31 AM.
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| Posted 11/7/07 11:16 AM |
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eroxgirl
My Loves
Member since 5/05 15697 total posts
Name:
Rebecca
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Re: i know you can all be BRUTALLY honest...
With these numbers, keeping the house is not an option. I think you'd need to be bringing home at least twice your mortgage to make it work.
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| Posted 11/7/07 11:20 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: i know you can all be BRUTALLY honest...
Posted by Blu-ize
all wrong. You need to have him contribute to the house. It's where your kid lives. You need a good lawyer.
I don't think it is his kid though. If they've only been married a year or so, I don't think he's going to have to pay alimony. She's got the child support from the son's dad, but I think she's going to be entitled to more from the husband of less than a year (or a little more than a year...a very short time).
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| Posted 11/7/07 11:21 AM |
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Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
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Re: i know you can all be BRUTALLY honest...
Posted by heartbroken-wife
... in my continued analysis of my new situation...
i was talking a walk, this morning, and i was thinking about my up-coming divorce and wanting to keep the house.
my mortgage payment is: $2788.64
this is my current income and how it can change:
32hrs/week work: $22979.84 yearly
child support: $168.10 weekly
new seasonal job (can do it every year): about $5000
i did the math: $36721.04
if i ask for an increase to 40 hrs/week at work, and i get it, my income goes to: $42466
dividing this monthy, i get: $3538.83
which overs my mortgage, and leaves me with $750.19
what do you think?
please be brutal, if i need it. i don't want to live a fantasy.
oh, before i forget, i've been applying/hunting for a new job.
thanks for all your support
What about food? heat? water? electric? 
It sounds like you forgot to add a few essentials to your budget. I am not trying to be obnoxious but I forgot to add food and the optimum triple play to our family budget, lol. My DH freaked out and I am no longer allowed to touch the spreadsheet, he has a password on it.
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| Posted 11/7/07 11:23 AM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: i know you can all be BRUTALLY honest...
Posted by eroxgirl
With these numbers, keeping the house is not an option. I think you'd need to be bringing home at least twice your mortgage to make it work.
I agree. I don't see that it's a feasible situation unless you have someone move in with you - another divorced mom maybe? They would be in the same predictment as you in terms of needing some help with childcare, running errands, etc. They would pay rent to you but wouldnt be on the deed, etc.
Message edited 11/7/2007 11:26:05 AM.
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| Posted 11/7/07 11:24 AM |
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Tracey
***********
Member since 5/05 6297 total posts
Name:
Tracey - brideinapril
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Re: i know you can all be BRUTALLY honest...
I agree with everyone - I think you would be spreading yourself to thin and that would add more stress to your life.
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| Posted 11/7/07 11:50 AM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: i know you can all be BRUTALLY honest...
Posted by heartbroken-wife
32hrs/week work: $22979.84 yearly
new seasonal job (can do it every year): about $5000
i did the math: $36721.04
if i ask for an increase to 40 hrs/week at work, and i get it, my income goes to: $42466
dividing this monthy, i get: $3538.83
Is this net or gross?
If this is gross, there is NO WAY you can make it.
Even net, you are not including:
- car payment
- car insurance
- gas
- food
- utilities/cell phone/cables/internet
Are you paying for daycare? $168 is NOTHING. Because that includes food, clothes, activities/sports, etc...
Sometimes it's not beneficial to hang on to a house that you can't afford. You will be stressed out and go deeper into debts and end up selling anyway.
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| Posted 11/7/07 12:52 PM |
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Ltdentway99
LIF Adult
Member since 9/06 1752 total posts
Name:
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Re: i know you can all be BRUTALLY honest...
That's very tight, but anything is possible. I am all for the idea of trying to make an apartment in the house. Have you thought about going back to school for more education. Maybe that would help you raise your salary. If you want the house and you feel there is a chance of making a higher salary later on in life, then do the best you can. Beyond the mortgage, though, what about car, electricity, phone, food.
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| Posted 11/7/07 1:30 PM |
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lilacwine
only love...
Member since 5/05 2034 total posts
Name:
<3
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Re: i know you can all be BRUTALLY honest...
Posted by danielleandscott
I think it will be really tight...especially if the taxes go up or something happens that needs to be fixed. Or something else that may occur with the house that you didnt counter in.
I know you love your home and you want your child to grow up in a home....
I really think that you should sell the house, and take your share and buy a condo or maybe even a smaller house.....who knows how the market will be then.....
You will basically be working for your house......and in all honesty, you do not want to have to do that.
I really think you will be much happier with a condo or a co op....and not having to struggle to make your payments or to put food on the table....
Scott
I agree with Scott, but I also believe that your income will not support owning your current home.
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| Posted 11/7/07 1:37 PM |
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munchkinbugs
My little loves!
Member since 1/06 8093 total posts
Name:
Lisa
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Re: i know you can all be BRUTALLY honest...
I don't think that's enough with utilities, a car payment, and food. You will wind up falling behind on something. Sorry.
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| Posted 11/7/07 1:46 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: i know you can all be BRUTALLY honest...
Posted by smdl
Are you paying for daycare? $168 is NOTHING. Because that includes food, clothes, activities/sports, etc...
Just to clarify on the child support payments, daycare is above standard support so he would have to kick in with that too - along with medical, activiites, etc.
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| Posted 11/7/07 1:47 PM |
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MrsS2005
Mom of 3
Member since 11/05 13118 total posts
Name:
B
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Re: i know you can all be BRUTALLY honest...
Posted by MrsBlueSash
mortgage should be about 30% of take home.
Your mortgage should be no more than 28% of your gross income, not take home.
I agree with others that $750/month is not enough to cover utilities, food, and other living expenses. Also, you want to have enough savings in case a problem arises with the house that is expensive, but necessary, to fix.
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| Posted 11/7/07 2:29 PM |
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heidla
Me and the guys
Member since 5/05 4024 total posts
Name:
Heidi
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Re: i know you can all be BRUTALLY honest...
I'm so sorry for your situation!!
I have to agree with all the posts I've read. It would be too close for comfort for me. Do you want to have to constantly be worrying about $$$$? Under the scenerio you just gave I don't see how you wouldn't be. I wish I havd a suggestion, but it seems to me that a lower mortgage payment is really the best option.
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| Posted 11/7/07 3:36 PM |
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