Quote:
Originally Posted by noppenbd
Honestly I think part of the problem is the accounting degree. I think you are being too smart for your own good in some cases, by using the numbers to justify purchases that really don't stand the light of day when you look at the big picture. I apologize if I am beating up on you, but I honestly think you need a complete change to your way of thinking if you are going to get out of this mess.
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No worries, I get that in order to "get real" with the finances on this - I'll probably need some hard advice. I've already adjusted DH's withholding... so I'm listening and no matter how hard the advice, I'm taking it to heart.
I guess the next thing I need to tackle is the rental... (I'm still hesitant on the minivan... but baby steps)... if we sold the rental the HELOC would be gone too. But when I last talked to the realtor about selling, it would take $22K to sell and that is if we got our asking price. It could probably go for $250-$275K and we owe $226K on the first mortgage (we pay $1695/mo with taxes/PITI/insurance/etc)... well and then another $255/mo on the HELOC. Plus $20/mo on HOA fees, and $152.50 on the property manager. And we only charge $1525/mo in rent cause that is what the market is for the neighborhood and the house.
We have good credit so I don't want to mess it up on a short sale or anything... but don't know what to do... hence, we've kept the rental and just got by. I have a feeling if we got rid of the rental and even broke even we'd be a LOT better off just by doing that.