Back to the Valley!

Well, I can officially say that Vince and I have decided to sell the house. We are not making it in this economy right now. Vince's overtime (which we needed every penny) has stopped. His work is starting to lay off some workers, temporarily. Vince is one of the last one's to be laid off, but we can't even afford him not to work one day.

We have thrown around this decision to sell the house for months. We've always gone around it and tried to come up w/a solution. We just can't beat around the bush anymore. We are starting to miss payments so we have to do this.

We are going to try to do a Short Sale. For al those who don't know what that is, here you go.
SHORT SALES:
Approved through your lender only.
Need to be one or two payments behind.
Having financial difficulties.
House is typically worth less than you owe.
If approved, the lender will tell you how much to sell your house for.
ex: House is worth 120K so lender says you can sell it for 100K.
When you sell, you are forgiven of 2oK.

There is a lot of paperwork involved. It'll relect on your credit for 3 years; much better than a forclosure.

So, we will be starting to pack and move as much as we can, out.

We hope to be out by end of summer. We'll see how it goes. This house is going to sold for dirt cheap, if we are approved for the Short Sale.

The PROS:
We won't be bound to this loan anymore.
No more paying hundreds of dollars in one month for electric bill.
No more freezing our butts off in our drafty house.
We will be closer to our families and friends in the valley, once again.
I will save gas on how much I go the valley now.
We will be paying a lot less for rent for the next few years.

I can't lie, there are a lot of pros for us doing this. We just had to make the decision.