Since I am/was a real estate agent I have thought about this and I know the market is not going to change anytime soon. When I purchased the house my intentions were never to live here this long (7 years). However due to the economy I was forced to stay here. While in school I will be living on campus so I will have a place to stay the next two years. When I finish school I will be a renter or live in my other property (my childhood home). I really think my Atlanta days will be over when I finish anyway so I keep asking myself 'why keep this house.'
If I was married or had kids I would keep the home but I have neither. I have decided to never buy another piece of property until I get married. This shit is not for single women.....I am completely over owning a home.
I think I am going to use You Walk Away to assist me through this process.
I will be sure to keep you all updated on the process.
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6 comments:
I have a girlfriend here in Atlanta going through the same thing. When she bought her property she paid a pretty penny for it. Now that the value has gone down, she's out at least 40k for it! She's pretty much decided to do a short sale or foreclose. I don't blame you. As much as they say renting as throwing away money, its a better option if you have no other responsibilities or obligations.
Yeah...at this point it doesn't matter. I wouldn't even worry with a short sale. It takes forever to close (if the bank approves it). Then you have to worry about taxes. I'm chucking it the deuces and filing bankruptcy in January!
Don't get me started on this house mess. Depending on your bank you may can stay rent free for some time. We did not pay anything for almost a year and we were able to get a mod but the mod was not much of a difference from what we were paying. Do whats best for you. I know one thing the next time I buy a home I will make sure I am ready and only have house bills. Good luck
damn for almost a year. i keep hearing that i'm going to stay as long as i can and make them pay me to leave....
I feel you on this one. I have a property that won't sell, tenants won't pay on time, losing value - I am sick of it all. I am worried about my credit though!!! It took so long for me to finally get it right.....ugh...
Girl do what you have to do!!
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