Guys, do you do money advice?

[csmuds]

I'm from a lcol area, so I won't assume this would work for you as well, but a pp had a suggestion that we did. We got a $20k loan from our credit union to finance the difference between our mortgage payoff and final closing costs. It sucks making a payment with nothing to show for it, but that combined with our current rent is less than our mortgage payment.

I had a hard time accepting this as an alternative to attempting to rent out the house again, but we basically bought our freedom from any responsibility to tenant damage, taxes, insurance, etc. Fairly short term hassle for long term benefit for our family.

[snipsnsnails]

Aw, no, csmuds , I am open to any and all suggestions. It sounds like it was a decision that will be best for your family in the long run and that's what counts. I totally get that.

It might be worth it for me to take a quick glance at interest rates at some local financial institutions and explore that a bit. Thanks for the input!

[Deleted]

Hugs to you - I know you'll work through this (and look fabulous while doing it), but it's still really damn stressful while it's happening. I think you've gotten some great advice here, so I'm just going to agree with it. But wanted to let you know that I've actually been thinking about you lately (I know, I'm weird) and wondering how you're doing with everything.  Just so you know, there are lots of people out there who love you and are ready to help you out.
  (heart)

[Gato]

No good suggestions about real estate, snips. I do know that you could probably make a decent amount of money in PR/Communications for a big philanthropy like Ford Foundation. Philanthropy has pretty family-friendly hours and benefits, too. The Grantmakers Forum of New York would have info about this industry. Are you commuting distance to Yale? They'd have high-paying (for nonprofit) communications/PR/events jobs, and also probably have generously subsidized, high-quality child care on campus.

I hope it turns around for you soon!

[sonrisa]

No advice. Just hugs. I'm sorry you are in this position. Boo to the people who you used to work for. I hope something comes together.

[maria120]

Have you contacted your mortgage company about doing a loan modification? If your payment is that much of your monthly income you sound like you would qualify for that. They can spread your payments out over more years or lower your interest rate to make your payment lower. Sorry if this has already been mentioned.

We're in a similar situation. Our house is about at the break even point if we sell, but with closing costs, realtor fees, etc we'd end up owing if we sold and I just can't do that. We're trying to figure out what to do too. We can make our payments, but it is sucking up all of my fun money and I'm over it!

[karmasabiotch]

I want to wish you luck. It's a tough situation.