Tuesday, October 8, 2013

House Woes

Buying a new house is supposed to be exciting and memorable and a dream come true, right? Not so much when you are young and naive and purchasing at the height of the real estate bubble. I've talked a little bit about our house before a year ago when we had a lot of things going wrong. Unfortunately, some of those things are still unfixed and now new things are cropping up.

Our house is a row house which means that it is attached on either side. Think of a duplex, but with eight dwellings in a row. To our right, on the end of the building, is an older couple who are always home and who raise and lower the garage door 20 times a day. To our left is a couple (I think) whom we never see, who are not friendly, but are very loud. Who needs cable when I can just listen to whatever he's watching?

Jason bought the house with his ex-wife at a really inflated price so now he is underwater on the mortgage. We would love to sell it, but due to the market being crap and the condition of the house, we would maybe get 60-70% of what is owed. We even talked about walking away from it and letting it go into foreclosure, but really, that is not a viable option as he doesn't need to have that on his credit. Plus, it would be giant hassle with the mortgage company.

I'm not really sure where I'm going with this post, I'm just at a loss as to what to do. I typically take a wait and see approach to things, but how long can we wait until the roof needs to be replaced (or caves in) or the furnance stops working in the middle of winter? I keep thinking that something is going to happen to make it all better, but I'm fooling myself (where is that goddamned fairy godmother?). It is just frustrating to feel helpless in situations where you want to better yourself.

No pity party for me, though. I am off to research solutions. And if anyone has any suggestions, comments, (knows any arsonists - kidding!) just let me know.

4 comments:

  1. I have a lot of respect for people that take the hard way out & work their butts off to change their situation...ie find a way to pay for the work to make it better or bring enough $$ to the table to move legitimately...I read an article about a guy that paid off his mortgage in 8 years this morning, but for the life of me can't find it. Mind you I'm not insinuating that you guys don't work your butts off as I know you do!! Figure out exactly what you want (stay & fix vs. move) and then together go after it with as much tenacity as you can! You can do hard things:-)

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  2. Oh my gosh, Amanda. I know the exact feeling. My step dad just had to walk away from my childhood house. Did you think about renting it out? That can be a big hassle too... but it's nice to have that investment when things pick up down the road. Hang in there... and keep me posted!

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  4. I like Holly's idea about renting it out! Could that work while y'all find somewhere new to live?

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