On the Road to Losing It All

My husband has been a real estate agent for many years and he's always done very well. We've never really had to worry and a few years ago we had more money than we ever dreamed of in the bank. So we decided it was time to build a bigger house for our family.

So the new house was being built and we were looking forward to the 80K profit we would make on our little house. We needed that money to put down on the new house. But literally in the same month that we put the little house up for sale, the market came to a screeching halt.

We couldn't sell our house. We moved into the new one and had 2 mortgages, and no down payment for the new house. We had to sell the little house for 60K less than what we originally put it up for sale for. That means we had 60K more on the new mortgage than we had planned for. And with no income coming in because my husband couldn't sell houses, we couldn't pay the bills.

We've been living on credit cards ever since. My husband has a new job, but it doesn't pay nearly what real estate was paying.

And I have a job, but I just found out today that I'm getting laid off from my dream job that I've had for 2 years. I'm devastated.

I don't know what we're going to do. In this economy, I can't compete for a job. There are no jobs. We'll never survive. And we can't sell our house because we owe more than it's worth. So what do we do?

And the sad thing is that there are so many people in worse situations. I don't know how they handle it. I can barely handle what's been going on with us the last 2 years. It just gets worse and worse. The stress is almost unbearable.

Any advice is welcomed...

infinitedreamer infinitedreamer
26-30, F
3 Responses Feb 13, 2009

In 2005 my husband was making killer money and we decided it was time to move. The house we lived in wasnt finished so we had to finish the remodel and sell the house. As soon as we put that sign in the yard the houseing market crashed and so did my husbands work. It took us 3 years to sell that house, we just sold it last June. We lost $30,000 on it! For 3 years we had to live off credit cards, my husbands a carpenter and work was off and on. last summer I made and sold cornhole games and bags just to have some money coming in. <br />
Right now my husband has zero work and no money coming in. we never recovered from selling the other house, were living off my credit card. I know exactly what your going through. I dont know how we survived 3 years with 2 house payments, utilities, etc...we rented it out to my sis and her bf but that only lasted for 2 months, they broke up and moved out but still paid the remainder of the rent. That helped for a short time. <br />
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We were at our breaking point, fighting with each other, on the verge of losing everything, divorcing, creditors calling, electric being shut off, it was so damn stressfull, we couldnt take it anymore and one night we were sitting at the table and my husband said: I cant take it anymore, how about I kill you then kill myself?! Well, I didnt agree to that scenerio! no way hosey! I dont know if he was serious or not. Least to say nothing happened! Thank God! I have never ever admitted that to anyone before! But with all the recent suicide killings I understand why they did it!<br />
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We stuck it out, sold the house for what we could get. Were still having a hard time : no work coming in, no money coming in,living off my credit card but were sticking it out no matter what!

i feel for you. there are a lot of us in the same boat. It's awful....

sorry to hear that,i lost my home,and now yesterday I lost my job. no one is hiring,I am broke only God can help us now