Sold my house and it cost me $$$

[GardenWeasel]

Help me feel better guys. Husband got transferred and bought a house in TN with lots of 401K cashout. Put my house up north for sale for two years ago at $49,00 and sold it today for 16,00, I have to pay out $4,500 to get rid of it. I am depressed. Toast with me as I am drinking my home made Captain Morgan at $11.99 plus sugar water, vanilla and nutmeg. Hopefully it will dull the pain of not doing my kitchen cabinets. Cheers, at least I didn't have to short sale. I really need some feed back to make me feel lucky.

 

[Wifezilla]

In this economy, you got out cheap. I know many who just lost their homes.

 

[GardenWeasel]

Thanks for the instant feed back. I know I am luckier than many but this really hurt.

 

[lwheelr]

We paid $25,000 for our house. Paid it off a year and a half ago. Sold it today, for $7200 cash. That was all we could get.

This is a depressed area anyway, but try a depression on a depressed area and you get a hole so deep you can't see out of it.

 

[HEChicken]

Okay I'm lost. I thought a short sale was when you had to pay out to close on it, so I guess I'm not understanding how this was not a short sale - but admittedly I don't know a lot about how this stuff works so please forgive my ignorance....

 

[tortoise]

Okay I'm lost. I thought a short sale was when you had to pay out to close on it, so I guess I'm not understanding how this was not a short sale - but admittedly I don't know a lot about how this stuff works so please forgive my ignorance....

http://en.wikipedia.org/wiki/Short_sale_(real_estate)

 

[savingdogs]

Heh, you sold it.

Ours went into foreclosure when my husband had salary cuts and we could no longer afford it. Our house was nice. We tried to do a short sale but the people found a better deal in the worsening market and bailed at the last minute.

If we had sold a year in a half earlier, the exact same house literally next door sold in less than one day, for literally double what we eventually tried to sell ours for. We walked away with a huge debt instead of the nice chunk of equity we thought we had earned with our sweat and making all those extra payments to the principal, years of making improvements to the home. It had a gorgeous garden, but we invested too much in the house instead of paying it off.

You came away with cash. In this economy, that is doin darn good.

Do you feel better now?

Don't worry, we bounced back and have a shabby little farm in the country now, but I thought perhaps hearing what happened to us would make you happier about how yours turned out. It could have been worse! We never had that kind of thing happen to us before...not our style not to make good on a debt. But your good decisions protected you when the market went so sour and lessened your losses.

 

[FarmerChick]

yup in this economy you got out actually alive.

and another thing to celebrate--it is gone and over! not hanging over your head for another 2 years

Yea I would be ticked for a little bit then I would think, whew, it is over and done and could have been worse lol

 

[Natalie's Nesters]

Congrats on the sale! We have had a house in Montana for sale for 2 years. Hopefully this will be our year!

 

[SKR8PN]

Congrats on the sale! We have had a house in Montana for sale for 2 years. Hopefully this will be our year!

I have always wanted to live in Montana.........Does it have any acreage with it?