It's been a long and tough inner battle, both mind and heart.
To short sale or not. Your credit is trashed - but not for that long, I have found out.
Less than 2 years. Some people less than 1 year and their credit is up near where it was
when they did the short-sell on their house and walked away from it.
They are renting wherever and saving money to put a down payment on a new
house.
When I heard last week that this kind of thing is not a long-term trashing of your
credit score, I then started looking into this all over again. If you look at it from a
purely business type of mindset, the ONLY logido is to get out of the house and do
it as fast as possible. My house is almost 50% underwater. When you start looking
at the statistics that it may be as far out as the year 2023 before I can even break even?
That pretty much sent me over the edge. I do NOT want to live in this neighborhood
forever. A young guy at work just bought a new - and very nice - house with only $4,500 down.
Another short-sold his house about 7 months ago. His credit score is almost back to where it
was before he sold it and got out of it. My mortgage company jumps all over the "opportunity" - for whatever reason - to get the paperwork started on a short-sale. I don't get it. I mean, it was as if they wanted me to do it!
The final great question, however, would be: where would I live? Even the "experts" that are encouraging people to do so get to this question and have some reservations. If I wanted to keep my dogs, that eliminates all apartment complexes of any decency. I don't want to rent a house. This is the next dilemna with this situation that I will have to answer before I even think about short-selling this place. I'm not the sort of person who just dumps your dogs because it creates an inconvenience.
There must be a reasonable answer to this and I am going to search it out and hunt it down, if it does, indeed, exist.
Well, that question will be occupying the next coming days. But now? Bedtime.
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