Should I sell?

[dakcp2001]

Totally stressed out! Financially we are in a bind. I can prob afford my mortgage payments until Oct but if one of us does not find a full time job before that, we are in trouble. It is taking much longer than we had hoped.

If I sell my home now, I will break even, no profit, but no more worry about trying to pay for it. I am worried about my DF the stress of the mortgage is really affecting him. I am worried about his health. I have to decide now, I live on a steep hill and it wont sell in winter (cars cant get up) and nothing ever sells on this hill in winter. There is a small window of opportunity here in which homes on this hill can sell, and its really May-Oct.


Do I sell to be safe, or keep the home and "hope" we find work by then? The house is mine and in MY name, so DF wants to sell but said it is up to me to make the decision. I am just afraid of selling the home, and ending up with nothing. No home, no equity, and living in someones basement. Ugh.

 

[mrsklamc]

Yes, you should try to sell. Once you get jobs, you can save up a healthy downpayment and buy again. Best of luck to you!

 

[sydneysmom]

first off, I just want to say I'm SO sorry for what you're going through.
The only advice I can offer, is maybe can you see if you can refinance to lower your payments ? You mentioned that neither of you have a full time job....are you working part time to get some income ? If not, I would suggest that.
when my ex left me, I was left with a house and a big mortgage ( for what I made at that time). Personally, I'd have worked 3 jobs to keep that house. I put myself on a budget and whatever I needed came last after the house and my dogs. I did not want to lose the house.
I did put my house on the market and when I FINALLY got an offer ( which was 1 year and $15,00 less than my asking price) I had to make a decision. I kept my house. Now it's 5 years later... I'm SO glad I didn't sell.
You have to make the choice that's right for you and your situation. But not having a full time job is only temporary.... you might have to get 1 or 2 part time jobs to supplement your income to keep your home.

I am sorry I can't be more help, but I do wish you the best of luck.

 

[Sandi]

Where would you live if you sold your home? Have you tried working with your mortgage lender to see if you can develop a different payment plan for awhile?

If you don't really care about the house and can rent somewhere else for less money, maybe selling is okay. I'd be weighing all the pros and cons.

 

[dakcp2001]

I have not told my mortgage lender yet. Do you think it will help?

I do work part time but I get cancelled if they don't need me and that has been happening a lot lately. I am also studying for the nursing boards that I sit for in July. Right now most hospitals in Mass do not hire new grads, not even the one I work at. Hiring freeze, budget reasons etc which they are forecasting to be better in a few months. But the market is flooded with new grads, lots of schools here. I know I will find a job at a nursing home, but it is not going to be a quick process. I have been sending out apps since March.


If we sell, we will have to live in my parents basement for about a month until I pass the boards and can relocate to a state where the job market is better for new grads. I am leaning towards this option, but afraid I will regret selling this house! I dont know anyone to rent it to, and I am afraid that if I rent and move out of state, I wont be able to fix things if something breaks or goes wrong. Absentee landlords are no good.

 

[RitaE]

If I were in your situation I'd put the house on the market and see what happens. It might sell right away, but it is probably not likely that it will sell and close before that July test.

If it does sell and you are no longer tied to a mortgage - your job search is that much broader as you will be able to relocate to where a job is available. In this type of situation, flexibility is a huge advantage.

 

[Luvchefmic]

The first thing I can advise is talk to your mortgage lender...you have to see if there is anything that can be done, don't be afraid, they are probably getting many calls like yours in this day and age. I know all about sleepless nights and stress, we have been hit with unemployment too. You know what worrying isn't going to help. You need to breathe, get your ducks in a row, meaning find out where you stand re-mortgage and then write down a list of pros/cons to selling. I send you prayers for your nusring exam and a brighter future things will get better.

 

[sydneysmom]

instead of selling your house, are you in an area where you could move in w/ your parents and rent your house ? that way you could hang onto your house but let the renters basically make the payments....that might be something to look at. It'll buy you time to decide IF you want to sell rather than being in a frantic situation of HAVING to sell......

 

[PrincessBelle09]

I would recommend selling. You really do not need the stress of having to make a mortgage payment that you very soon will not be able to afford at all.

 

[DawnM]

It sounds like you may have to move anyway if you find a job somewhere else. It might be worth it to try to sell now and see what happens.

Dawn

I have not told my mortgage lender yet. Do you think it will help?

I do work part time but I get cancelled if they don't need me and that has been happening a lot lately. I am also studying for the nursing boards that I sit for in July. Right now most hospitals in Mass do not hire new grads, not even the one I work at. Hiring freeze, budget reasons etc which they are forecasting to be better in a few months. But the market is flooded with new grads, lots of schools here. I know I will find a job at a nursing home, but it is not going to be a quick process. I have been sending out apps since March.


If we sell, we will have to live in my parents basement for about a month until I pass the boards and can relocate to a state where the job market is better for new grads. I am leaning towards this option, but afraid I will regret selling this house! I dont know anyone to rent it to, and I am afraid that if I rent and move out of state, I wont be able to fix things if something breaks or goes wrong. Absentee landlords are no good.

 

[LisaInNc]

I would sell it or rent it if you can't sell it.

The plan of moving to a better area for a job is smart.

Good luck!

Lisa

 

[dakcp2001]

TY everyone! I have a realtor coming tomorrow to discuss it. I need to figure out all of the logistics of real estate agent contracts. I can't rent it, I cannot be a landlord from so far away.

 

[ssawka]

I'm not going to give advice either way, but I did want to ask "Where are you located at?" and "What did you both do for a living before?" You are amongst a large group of friends on the DIS. Maybe someone can provide you with a lead towards a new job.

 

[dakcp2001]

I am looking for a New Graduate RN job anywhere in the US. The key is, they have to hire NEW GRADS which very few places do right now. There are zillions of places who want nurses, but they all require experience of at least 1 year. I need a place that is willing to train me

So any of you nurses out there, please let me know if your facility hires new graduates!

 

[wdwfan16]

Your house should already be on the market.

 

[bumbershoot]

I am looking for a New Graduate RN job anywhere in the US. The key is, they have to hire NEW GRADS which very few places do right now. There are zillions of places who want nurses, but they all require experience of at least 1 year. I need a place that is willing to train me

So any of you nurses out there, please let me know if your facility hires new graduates!

I have NO idea if they still hire newbies, but Dominican hospital in Santa Cruz CA hired my stepmom as a new nurse (NICU) back in the mid-90s. She's been there ever since, she's (last I was told) a charge nurse now, and she LOVES it there. So it's worth seeing if they hire new grads, because Santa Cruz is really great (expensive, but going by what she's been making since the very first year, the salaries match up well) place to live. And even if you live up in the hills, you're not likely to run into snow or ice in the winters that make it impossible to get the car out.



Looking at the "meet our people" link, I see a nurse saying: "I earned my degree from Cabrillo last summer and began my nursing career at Dominican, with a focus on cardiovascular care." Sounds like a newbie to me! And Cabrillo's the CC where my stepmom got her degree. So you can bet they are inundated with applications from the local college, and perhaps your application would be something new for HR.

 

[Kellydelly]

I am looking for a New Graduate RN job anywhere in the US. The key is, they have to hire NEW GRADS which very few places do right now. There are zillions of places who want nurses, but they all require experience of at least 1 year. I need a place that is willing to train me

So any of you nurses out there, please let me know if your facility hires new graduates!

I live in SE Michigan and was hired as a new grad in March (but with a license). I work for the DMC and they definately hire new grads, with or without a license.

 

[dakcp2001]

What does DMC stand for?

 

[bumbershoot]

What does DMC stand for?

I googled "SE Michigan DMC" and found the Detroit Medical Center...dmc.org. Might be what she's talking about.

 

[funkychunkymonkey]

lots of hospitals in the Wisconsin area hire new grads.