We have to sell our home, we can't afford the dream

[debbierlus]

And, no, we did not get into a huge rate mortgage. But, we bought the only thing we could afford. A fixer-upper. A very pretty Victorian on a lovely street. But, the costs of materials have quadrupuled over the last five years. The heat is cost prohibitive (we paid have it insulated top to bottom & in the walls, but we need new windows & a more efficient furnace, & we simply can't afford it). We have done 75% of the work ourselves to this point.

The problems with it never end. We don't have the money to buy another house, so it is back to renting, something I thought I was finally done with...

I am so sad. It feels like such a failure. We make decent money, but due to a bankruptcy due to health problems, we can't get any bank to lend us money for fixing it.

I am losing my home. It is so hard when you become the number of one of the statistics, although, I probably wouldn't be counted because it will be sold & not foreclosed on. Just like the unemployed people who aren't counted in the unemployment rating because they have stopped looking or the timeframe for eligibility is expired. Those false numbers that don't portray reality & allows this government to pretend we aren't in a recession when (imo) we are on the verge of a depression.

[LisaM]

1. I'm sorry.

I don't really know what to tell you, or to suggest, other than closing off some of the rooms and only heating part of it.

I have never been able to buy a house. I don't like renting either.

[Matariki]

2. I'm so sorry to hear that

Have you checked to see if you have any other options? I know my city's utility companies have loan programs for upgrading insulation, windows & furnaces. Or maybe a state program?

[againes654]

3. Awww I am so sad for you

It is a shame what our "leaders" have done to this country, and your story tells it all. I am so sorry!!!:cry: :hug:

[Greyhound]

4. My sympathies as well, at least you are in good company, we're thinking of getting jackets. n/t

[DURHAM D]

5. Sorry about your situation.

I love older homes and you grow so attached to them as you put your own sweat and blood into them. Please don't think of this as a failure.

I hope your situation gets better and one day you will get to breath new life into another old house and make it a home.

[BlueManDude]

6. you did your best. you'll find the dream again.

[AuntPatsy]

7. My heart goes out to you, I cannot imagine the dispair you and yours must be feeling...

[Macchendra]

8. I am very sorry.

and I feel that there is a new word coming to the english language: w-ville

[aikoaiko]

9. Hopefully you're not in a negative equity situation and can come out a little ahead.

Good luck.

[Bobbieo]

12. I'm doubly sorry for you as I am in a position to finally pay off my mortgage.

[debbierlus]

21. I think we will most likely come out even, maybe a little bit ahead

Since we didn't overspend, I think we will be okay on that front. Keeping my fingers crossed. Real estate is a little stronger where I live then many parts of the country.

[PA Democrat]

10. I am so sorry to hear this.

I know a lot of people are just barely holding on while working harder than they ever have before. Hearing Bush crow about the economy is like rubbing salt in the wound.

I hope things turn around for you soon. :pals:

[NMDemDist2]

11. I'm sorry for your loss.

but in a few years perhaps there will be another house that will be more affordable than today's market

:hug:

[me b zola]

13. I am so sorry

:hug:

[Trillo]

14. Sorry to hear that.

It is true, beginning in 2000, there was an acceleration in the cost of building materials. Prior to 2000, and for a period of about 20 years, a 90lb bag of portland cement cost slightly over $2. Now, in less than 7 years, it's almost $10.

How much did minimum wage rise in that time period?

[in_cog_ni_to]

15. I'm so sorry, Debbie. So many people have become victims of the psycho's economy.

I'm sorry to hear you're one of them.:hug: That's so heartbreaking. After all the money, time and effort you have put into your home, it cannot be easy to have to sell it. You become attached to things you've worked so hard for. I'm so sorry.:(

[slackmaster]

16. Sorry to hear that, debbierlus

You fell through the cracks. I hope you can get a decent price for the place.

[Lars39]

17. I understand your heartbreak, debbierlus.

It's very hard to see something you've worked so hard for have to be sold. :hug:

[debbierlus]

18. Thanks all - it is appreciated.

[unhappycamper]

19. I'm very sorry to hear that.

Many of us are at or near that point. It's sad. :grouphug:

[Horse with no Name]

20. Real people. Real stories. Real heartbreak.

There is no REAL financial index that monitors REAL life. No REAL statistic that shows when common people are forced to sell off their assets to buy needed commodities because they aren't poor and they aren't rich and they aren't running up credit card debt to do it.
I'm sorry for your loss.

[Lone_Star_Dem]

22. That really sucks.

Hopefully, some day in the not too distant future you'll be able to buy another one that requires less out of pocket expense.

Until then, enjoy the freedom from costly repairs that you get when you're renting.

Personally, I need to do so much stuff to my house right now and I too can't afford it.

I'm hoping that the cost of building supplies will go down some now that the building boom is fizzling and demand is going down. I know, dream on, because that's not likely.

[CrispyQ]

23. I am so sorry!

I feel for you. We lost our home in the S&L scandal in the 80s. Some of the offers we got were shameful. One offer we would have had to bring $10k to the signing table. If I had had $10k, I would have paid my damned mortgage! Another offer we would have only had to bring $2k to the signing table but in the fine print the buyer had stipulated that all our possessions go with the house. ~gasp!

The rich jackals are salivating at the opportunity the ruins of our economy will provide them.

I hope for the best for you & your family. It is a terrible thing to lose your home. :hug:

[ljm2002]

24. If you are able to handle a fixer-upper...

...then maybe you can take temporary measures.

For example: if you can't get new windows, tape clear plastic over most of them during the winter, to add that layer of insulation. You can do it on the inside so the weather does not take them off. You can shut the heating vents in most rooms and close those doors.

Really hate hearing that you might have to sell it. I'd try whatever I could but, of course, that's what I say sitting here, not in the situation and not knowing all the details.

But dayum. Those old Victorians are wonderful houses, and I'm sure that it is extremely painful to have to give up on it.

[debbierlus]

25. We just don't have the money for repairs

You get into foundation work, rebuilding structural points, windows, & sewage problems, you easily are 75,000 to 100,00 grand.

It is a big house. What might be manageable for a smaller house becomes impossible in a larger one....We feel like we are pouring money down a toilet, not being able to really fix it but unable to just patch over...

[ljm2002]

26. Sorry...

...I figured it was worth mentioning since you mentioned the heating bills. Yes, foundational and structural work can't be fixed with temporary, inexpensive measures, that's for sure.

Hang in there. It's terrible but you'll get through it and go on to the next phase. Don't give up hope.

BTW, I agree with others: do not view this as a failure. Things happen. One of the most enlightening conversations I ever had was with a ski instructor (my one and only skiing lesson, I hasten to add) who said this: If you don't fall down, you're not trying. It was one of those life lessons for me, all wrapped up in a ribbon. Take risks. Sometimes they won't work out. But you'd never know if you never tried. And never having "failed" may be more of an indicator that one is unwilling to take risks.

So -- don't talk yourself down, not even in your own head. No what-ifs. What's done is done, go forward.

:hug:

[kath]

27. The "bankruptcy due to health problems" situation is something that Does. Not. Happen. In. ANY.

Other. Developed. Nation. On. Earth.

The US's lack of single-payer universal health care is something that makes me so angry I can barely see straight. :mad: :mad: :mad: