Reader Rant: Being Underwater and Coming up for Air
by Elaine
After losing my job of more than 25 years, being unemployed for 8 months and finally being offered a job at half the money I used to make, I found myself close to foreclosure. Really close. I have been consistently 2 months behind on my mortgage for over 2 years and cannot catch up. If it wasn’t for the 2 roommates that live with me I would have given up and let the bank have the damn house, along with the negative equity.
The story behind how I ended up in this situation is one you’ve heard before. Simply stated, I got divorced at the height of the real estate market (my house was appraised for almost 3 times what I paid for it) and at the time the best thing I could do was to stay put. Buying another house would have cost me just as much, increased my property taxes and with the additional expense of moving, well it just seemed like the best option for me and my kids.






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