Due to Carter being a preemie, I recently left my job to become a SAHM for him. In order to afford this, DH and I have to file for bankruptcy. He recently found out he's getting a promotion at work and a raise. Unfortunately that fell through today. But now he's being offered a different promotion that's almost too good to be true. An $11,000 a year raise! But we would have to relocate to about 2 hours away. We own a house that we had built and would lose money if we sold it now, if we could even sell it. They need an answer from DH within a few days about whether or not he's going to take the job. We could probably add the house to the bankruptcy since it hasn't been filed yet. Maybe I'm too sentimental, but I just hate to give it up. We've been here for three years and this is our home! But this is such a good opportunity for DH and it won't come around again. Ahhhhhh, I'm confused
Re: NBR - What to do?
Brady Phoenix, 8.29.09
Claire Zoe, 10.26.10
You could look into a short sale. It can take months to close but it won't be as bad for your credit as bankruptcy. With a short sale, you could sell your house for what it is worth/current market price and you wouldn't be responsible for the amount that you come up "short" in what you owe.
Brady Phoenix, 8.29.09
Claire Zoe, 10.26.10
Honestly, I'd avoid declaring bankruptcy and consider NOT selling the house (you built it, so you're not paying any kind of mortgage right?) but moving to the new city and living in an apt you can afford. Sell the house later after the market recovers.
Alternatively, (and I understand if you don't want to do this), you and DS could continue living in the house and DH could either do the super long commute or rent a CHEAP one bedroom apt in the new city and live at home with you on the weekends and stay at the apt on weekdays.
Bottom-line, I'd definitely tell DH to take the job. That's just my opinion!