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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: What would you do???
Posted by Christine
Since you owe more on the house then it's worth I don't see how selling would help you out since you will be paying back more then you get from the sale.
I would just cut out every single extra and sell things you don't need/use/want to get some extra cash and pay down the debt.
Good luck!
Not sure of the value of your house but if the value will not cover what you owe then it's not an option.
However, have you considered renting your house? It reads as if your house is part of the reason you can't make ends meet on top of irregular paychecks.
It may be that selling or renting out your house is a solution you have to consider. I'm in the minority since the conventional wisdom is that your house is the asset you'll retire on and the most valuable asset you will own but if the house is a financial drain then it's not worth it.
Trade down to a smaller house for something more manageable and you should consider renting for a while if you can keep the cost of moving reasonable and renting will save you the cost of homeowner's insurance. You can save on housing expenses like real estate taxes, yard care and maybe even some commuting costs too.
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Posted 6/23/07 5:10 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: What would you do???
You posted a few weeks ago that your DH wanted to buy a plasma tv because it was a "great deal", if I remember it was $800 or something...$800 toward a maxed out credit card goes a LONG way. You guys really need to sit & talk to each other & get on the same page about money priorities. Do you guys buy coffee & lunch out for work? if so start bringing from home, cancel your cable & borrow DVDs from the library, sell your kids clothes that don't fit on ebay or in a consignment shop. The list of ways you can proactivly save & pay down debt is endless. I know its hard when you're both working to "sacrifice" but it will be worth it when you get everything in order.
Its my understanding that older homes in your area are not easy to sell at all & if you can't cover what you owe how will that benefit your debt situation?
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| Posted 6/27/07 10:27 AM |
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mskittynj
LIF Infant
Member since 7/07 256 total posts
Name:
Rafaela
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Re: What would you do???
I would not sell the house! You're gonna be paying rent to someone else, how much money will you be saving? At least the hosue is yours. Just pay the cards little by little....
XOXOXO
Kitty
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| Posted 7/3/07 4:46 PM |
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| Pages: 1 [2] |
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