House up for sale
Some of you that are reading this probably know this already, but I figured I'd throw it out there for those that don't, but I put my house on the market for a short sale a few weeks ago. I've been trying to work with my mortgage company for about a year on getting them to do a modification or a refinancing, and they are refusing to do both. On top of that since the house is worth nearly $100k less then what I bought it for/owe on it, no other mortgage company will touch it with a 10 foot pole.
It felt like I was throwing an extra $1k out the window every month because I couldn't get them to work with me. I hired a law firm that specializes in getting mortgage companies to modify/refi, and it didn't pan out. So now I'm just going to sell instead of throwing money out of the window. If the bank refuses the short sale then I'll allow them to foreclose. One way or another I'm done with them.
I'm not sure yet where I'm going to go if the house gets sold yet, but I'm staying in NJ and I'm going to get an apartment. Maybe close to edgewater since its close to the city.
This post may have sounded very negative, but believe me I'm actually kind of happy about it. Yes I know it will harm my credit, but other then buying another house at some point in the distant future its not going to mean that much to me. I can start putting more money into my future/retirement. Ultimately this is just for the best and I'm happy. We'll just see how long it takes.
Man I haven't updated LJ in a while. Still read a lot, but I rarely post.
It felt like I was throwing an extra $1k out the window every month because I couldn't get them to work with me. I hired a law firm that specializes in getting mortgage companies to modify/refi, and it didn't pan out. So now I'm just going to sell instead of throwing money out of the window. If the bank refuses the short sale then I'll allow them to foreclose. One way or another I'm done with them.
I'm not sure yet where I'm going to go if the house gets sold yet, but I'm staying in NJ and I'm going to get an apartment. Maybe close to edgewater since its close to the city.
This post may have sounded very negative, but believe me I'm actually kind of happy about it. Yes I know it will harm my credit, but other then buying another house at some point in the distant future its not going to mean that much to me. I can start putting more money into my future/retirement. Ultimately this is just for the best and I'm happy. We'll just see how long it takes.
Man I haven't updated LJ in a while. Still read a lot, but I rarely post.