Well folks, it looks like I'm moving...

I don't want this house anymore quite frankly. I have no washer/dryer. It has oil heat which is how I fell out of line with my mortgage payments in the first place buying heating oil. The price of oil skyrocketed and I could barely afford to keep us warm this winter. I've had about enough.

Like I said, tradition binds me to this house...not love for the house! I just need to make a decision and stick to it. And if I'm moving I probably need to move before the stuff hits the fan with my credit.

True, I forget that they check your credit now to rent.  Good luck Nik, I am in foreclosure and trying to get out, but not because I didn't make my payments but because they claim they got some paperwork late.... so I am just crossing my fingers that I don't get a sale date before it all gets straightened out.

Have you already run your credit reports to see where you are?  You can get all 3 online for free once a year.  Might be good to know at least where you stand before someone else runs it and you don't even know what's on it. 

I'm so sorry to hear about the issues you are going through.  But I do believe this is the best considering everything.  And I'm sure you will land in a much better house and develop another set of amazing neighbors!

In today's economy and the fact that you have two children it might take them years to get you out.  I would just sit on it for now and start paying off some other debt and re-building your savings.  When it's time that you HAVE to leave then you can rent.

 Nik, I'm so sorry you're going thru this! I hope the suit works out and you can get something back - even if it's an apology for bilking you. Sending you prayers & positive thoughts for a good outcome. And if you need help moving....... I'm not much muscle but make up for it in good intentions! 

Sorry that you're going through this.  I rent apartments and have taken several new tenants who were going through foreclosure.  As a landlord, honesty is more important to me.  All of the people I took, were up-front about their issues and fuel costs especially are understandable reasons to get behind.  Especially as a single parent.  I know that for the folks I was able to help, getting rid of the house was a benefit.

Hope everything works out in the end.
Laura

Thanks for that tidbit. It helps more than you know!

I think I am going to just hoard money like crazy, pay down debt and get myself into a position where when it's time to go, I can go. I'll probably have to pay a higher security deposit anywhere I go because of my credit so if I can get myself into a good position that way, I think it'll be ok.

And yes, coming out of this house is a blessing. And a fresh start. This house holds both good AND bad memories for me. I am excited and scared at the same time. But this time I'm NOT making any rash decisions.

I think my first step will be to sketch out a budget to see what I could afford to pay so I at least know where to look for new housing and then go through process of looking at housing, school districts, etc. My girls already go to a school outside their zone (better school than our neighborhood) so as long as we stay in the city they can stay right where they are. But I'm going to do this thoughtfully.

So everyone can expect me to ask LOTS more advice and questions!

 "Fun!"

I'm sorry Nik.

We avoided this a few years ago - it almost happened to us too.

But, we played some games and then BOUGHT a foreclosure crack house.  (We did.)

I know I am not the sharpest tool in the shed and don't understand the whole picture, but it confuses and upsets me that regular folks are going through these sorts of things, while the bankers and brokers who created this whole mess are still living in their two story (and bigger) brick mansions with circular driveways and getting 5 figure (and larger) bonuses. And some politicians think it is a crime to raise taxes on the wealthy and allow no taxes on huge corporations, but not a problem that millions of people are losing their homes and being fired from jobs as necessary and as fundamental as teaching. I feel so lost and overwhelmed. How can this be allowed to happen?

I'm sorry for your predicament. All the best.

Nik, I totally know where you are coming from, my husband and I are discussing our options too!! We are having discuss just walking away also.  Even with 2 incomes and cutting out ALL extras our mortgage is killing US!!  Our house too needs work and with a crappy housing market its going to be next to impossible to sell! I did get my mortgage modified but it wasn't enough to really help us. My prayers are with you. You will be fine and I'm sure end up on top end the end.