Thursday, April 10, 2008

Now I know what it felt like to be on the Titanic

In the latest news in the painfully slow-moving disaster that is our house in Illinois: Our RE agent told us that Sovereign has turned down our latest short-sale offer. This isn't a surprise at this point, but still ridiculous considering that they're asking for more money than we owe to them on the house (there's also a 2nd mortgagor, which might have something to do with it). Everyone's in agreement that we're not going to get an offer for what they're asking for (20K less than we paid; the best offer is currently 35K less than that). RE agent asked if we wanted to have a lawyer take over the file, and I was like, sure, whatever. As long as nobody thinks they're actually going to get paid for the work they're doing.

For all the times that people say that buying a house is the foundation of wealth building etc.... my situation may be a little different (or not, considering the number of foreclosures moving through the system) but I can say without fear of contradiction that in a lifetime of making stupid financial choices absolutely the stupidest thing I have ever done is buy this freaking house.

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