Thanks Tinman! Who cares about the spelling, it’s the input that matters most. I appreciate it.
The house thing is a difficult choice. I am no expert on the subject but here’s what I’ve learned about the options.
Short sale would be an utter headache. The house needs a fair amount of work, I doubt it would pass an inspection. Getting both lenders to agree and approve seems daunting!!!
Deed in Lew is another option but if the bank sells the house for 200K and we owe 290K then we would be issued a 1099 and be required to pay a tax on the difference, roughly 90K.
Foreclosure is the other option. If we go down this route I was told they can come after us for the difference between what we owe on the house and sale price. No option seems that great. I might try and hold on to the house but I really need to weigh everything out and I appreciate your insight.
On a side note, I told my W I might need to get a roommate. I didn’t even think of what sex the roommate would be. Below is a recent email from W. It’s interesting that she left me and now she wants to decide who I live with and where I live. Does she really think she can hold this much power now that we are separated. I really don’t want us to get bitter!!!! I think you used a similar term, sour.
“Roommate - well if the roommate was female ahhhh no... so that leaves your mom or a male. I would need to feel very comfortable with that person so that the kids could continue to come and have their time with you.”
