Wednesday, October 8, 2008
Now what?
We had a lead on a potential renter for our house. Long story short, she just emailed me to tell me that after telling me how wonderful my house was and how excited they were to rent it that they have found another place to rent that is furnished and "inexpensive" We are not really interested in renting the place, we would rather just sell it, but since that hasn't worked for us as of yet, and this opportunity kind of fell into our lap, we decided it couldn't hurt. We don't want to advertise the house as a rental and we don't want to put just anyone into the house, so when a friend connected us with this family, I thought for sure it was a perfect temporary solution to help us ride out this crazy market. So I sit here now and wonder, how many tests are we going to be put through with this house before something happens in our favor? At the rate we are going, we will never own another home because we can't get this one sold and even if we do get it sold, we will walk away with little to no equity which means we will have no money for a down payment on a home here. And as times goes on, all of our savings will be sucked up by the double housing that we are currently paying, the mortgage payment there and the rent here. It is amazing how many people tell us to just foreclose on the house, "let it go", "give it back to the bank" I don't see how that solves the problem. All that does is make us people who don't keep their word and people with bad credit who really won't ever own another home considering the new tighter conditions to qualify for a mortgage. Moving back isn't going to solve the problem either. Now what?
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