I was awake most of the night, tossing and turning, unable to stop the numbers running through my head. No matter which way I crunched, the only solution is to sell the house.
My heart is breaking.
I love this little cabin on the creek. But, having been laid off twice this year (from two different jobs no less) and having zero success in finding another job, I really feel I have no other choice.
I will be unable to make my mortgage payment this month. I was unable to pay the second installment on my property taxes last month. I've dropped all unnecessary expenses (and some necessary ones too) a long time ago and there is no more fat to trim. My food budget runs at the most one hundred dollars a month and most months less than that.
I see no other solution.
What really sucks is this is a stock cooperative and therefore not eligible for traditional financing. All the places here are owner financed. I need a cash buyer in order to pay off my mortgage. My house is worth around $450,000 and I owe $242,000. Not many people willing to place a 50% down payment on a house.