Has anyone does this before? And regretted it?
We have had a rough year etc with hubby being unemployed for a long period of time our house is in a great area which is making profit! It's rented out but we have a car loan too. We haven't spoken to a financial advisor yet I guess I'm just over the stress.
We couldn't consolidate as our house doesn't have enough yet I don't think. Our rent here is $150 more than our mortgage was!!!
+ Reply to Thread
Results 1 to 6 of 6
13-10-2014 12:57 #1
Selling your home/restarting
13-10-2014 13:08 #2Senior Member
- Join Date
- May 2014
We had to sell our house and rent for three years due to long term unemployment. I can't say we regret it because we were drowning in debt and we just had to get rid of it. I cried, and cried, and cried the day we moved out. I still feel a bit sad when we drive past it because it represents such a hard time in our lives.
We have since bought again, but our mortgage is huge, which is what we had to do because it was so hard trying to save for a deposit and pay rent. However, for us, selling got rid of our debt and it wasn't a great time to sell, so we broke even which left us with nothing. We quite literally started from the ground up. It gets me down when I think about it because we were so well set up at a really young age and never thought we'd be in the position we are now. But that's life isn't it? You take the good with the bad. Selling definitely released a lot of stress and allowed us to begin to building our lives again.
I don't have a crystal ball to see what would have happened had we held on to our house (I suspect we would have had to declare bankrupcy though...things were pretty dire) to see if we could have pulled through and came out on top again, but I do know we did what was right at the time and I have no regrets. I just get a little envious when I see our friends living in much nicer houses than us with much cheaper mortgages because they bought before the market boom, and we had to buy 'in the market boom.'
13-10-2014 13:43 #3
13-10-2014 16:27 #4
13-10-2014 16:28 #5
13-10-2014 16:34 #6Senior Member
- Join Date
- May 2014
By Little Miss Sunshine in forum House & GardensReplies: 4Last Post: 12-05-2014, 09:43
By maternidade in forum House & GardensReplies: 0Last Post: 24-04-2014, 13:06
By sarah1701 in forum Working From HomeReplies: 2Last Post: 19-01-2014, 11:06
Be In BlossomWe offer physiotherapy run pregnancy Pilates, pregnancy Aerobics, and Mummy Pilates & Baby Massage classes with a ...
LATESTWhy it is OK for your child to be differentWhat is a blessing way? How is it different to a baby shower?7 ways to break the ‘mumnotony’ at home
POPULARWhen can I start giving chores to my children?New baby nursery checklist – a guide to newborn essentialsWhat to pack for labour and hospital – a checklist
FORUMS - chatting now ...
Married At First Sight 2017Movies / Music / Books / TV Chat
IVF babies due Sep/Oct/Nov 2017pregnancy and babies through IVF
Any thoughts on my mysterious toddler? :-)General Parenting Tips, Advice & Chat
IUI - first time fertility treatmentNon-IVF fertility assistance
Show me your lunchbox 2017!!Recipes & Lunchbox Ideas
IVF babies due March/April/May 2017#2pregnancy and babies through IVF
Implantation sickness?Conception & Fertility General Chat