i just wanted to update you all on this post. since i didn't disclose details i will share a couple.
*3 years ago this november we bought this house for over $300,000.00
*today this house is worth $175,000.00
NOT A GOOD THING!!!
*we found out that our mortgage was going up to $8,000.00 a month
(due to the kind of loan we got)
raise your hand if you can afford to pay that...or if you can do you WANT to pay that. especially when the house is worth HALF of what the purchase price was.
*we asked the bank to work with us and they wouldn't so we chose to stop making payments and walk away from our home...(that was a horrible decision for us)
* 5 months of making no payments later they are begging us to let them work with us. they don't want another empty home. they have made a very desirable offer and we have decided to stay.