Hello Guest

Author Topic: Big life decision. Input needed.  (Read 358 times)

0 Members and 1 Guest are viewing this topic.

Offline Superwhdm

  • I'm a super welder husband dad man!
  • Registered
  • **
  • Posts: 185
    • View Profile
Big life decision. Input needed.
« on: August 03, 2018, 08:13:03 AM »
Morning fellas, Id like you guys to chime in and allow me to borrow wisdom from a pool of knowledge if you dont mind.

We have found ourselves in debt mostly from credit cards to the tune of 40k.  We havent ever budgeted and yes I know we have been ignorant.  We both make very decent salaries but still, living above our means has brought us to a crossroads.  I feel we have caught it just in time.  An awakening happened when we tried to get my wife into a larger vehicle and couldn?t get finiancing from anyone!  We pulled our reports and saw the problem. Overspending has caught up to us. 

We have an option to sell our property which we built 3 years ago.  We have a lot of equity in it and our location is a white hot areas for land and home sales.  Seems everyone is coming down from the city and looking for average and a little farmhouse.  We are thinking of taking the profit and immediately getting out of all outstanding debt and living like gypsies in the 5th wheel for 12 months saving all the money that is therefore available.  We have tremendously gracious family and friends that would accommodate us for that amount of time.  We are strongly considering the adventure, we have two girls, 4 and 1.5yrs. It will be challenging at times but the payoff will be huge when we decide to find land and build again.

The other option is keep what we have and spend years of struggle to catch up and even longer for our credit to do the same.  Kind of a no brainer to me.  However I would like your input, perhaps from your own life experiences.  We are in our 30?s so I figure if we ar going to do this, then the time is now.  We are on a quest for true freedom and happiness.  I feel we have lied to ourselves living the dream (fake) while being a slave to creditors for too long. 

Thanks all!
Car or Truck-Truck
Rural or City-Rural
Early morning or late night-Early Morning
Hard work or Easy Work-Smart Work

Online stlaser

  • Registered
  • **
  • Posts: 5451
    • View Profile
Re: Big life decision. Input needed.
« Reply #1 on: August 03, 2018, 08:39:57 AM »
why Not tap the equity in the house with a low fixed rate HELOC & pay off all the debt consolidating it to one payment. Note you only need to service the interest on this loan on a monthly basis. Sell the fifth wheel & put it towards the debt. Cut out reoccurring monthly bills that are not needed, cable, cleaning lady etc.

Living in a camper for 12 months with two kids does not sound fun to me.
Unretired, sweeping floor at GLO once again & making coffee.

Offline Superwhdm

  • I'm a super welder husband dad man!
  • Registered
  • **
  • Posts: 185
    • View Profile
Re: Big life decision. Input needed.
« Reply #2 on: August 03, 2018, 09:05:50 AM »
With a HELOC, our debt-income ratio wouldn?t warrant a very good rate.  Above that, I do not want to owe more for a longer period of time.  I am interested from getting out of loans of any kind as much as possible.  As for the 5th wheel, we are so badly upside down in it, its worth more to use it.  If I could Id sell it and my Diesel.  We owe 36k on the camper and could maybe get 20 tops.  It?s a 2016 33? prowler.  I may have 7k equity in the truck. I cant even come close to those two cancelling each other out.  We have gotten an incredibly detailed budget in the works right now that cuts everything out within reason.
Car or Truck-Truck
Rural or City-Rural
Early morning or late night-Early Morning
Hard work or Easy Work-Smart Work

Online stlaser

  • Registered
  • **
  • Posts: 5451
    • View Profile
Re: Big life decision. Input needed.
« Reply #3 on: August 03, 2018, 09:14:59 AM »
Well, you?re doing your research so I think you have both eyes open. The other option and this is coming from a self professed work aholic. However, when my kids were little I worked all the time. Granted I started GLO & then our real estate developments but I know people (one of which is our lead pastor) who picked up evening and weekend work to climb out of a similiar situation.
Unretired, sweeping floor at GLO once again & making coffee.

Offline Bear9350

  • Registered
  • **
  • Posts: 623
    • View Profile
Re: Big life decision. Input needed.
« Reply #4 on: August 03, 2018, 09:24:31 AM »
Do you like the home you are living in now?  Would you plan on moving/ selling in the near future anyway?  What is the cost of renting compared to your current mortgage payment?  I lived in a camper for about 8 months with my wife while we were remodeling our house.  It was tough with just the 2 of us and the dog.  All we really had to do was sleep in it because every spare waking moment was spent working on the house.  We were able to set a kitchen up in the garage with a real fridge, oven, microwave.  No way I would want to actually live out of it, especially with young kids.

Check out the HELOC.  Get some actual numbers from banks.  Run the numbers comparing your different options.  See what makes the most sense.

My parents were in a similar situation about 10 years ago.  So this next piece of advise is based on their experiences and not my own.  Seek some professional help to come up with a financial plan.  My parents went from being in financial trouble to paying their mortgage off 10 years early.

Offline Tommy13

  • Registered
  • **
  • Posts: 189
    • View Profile
Re: Big life decision. Input needed.
« Reply #5 on: August 03, 2018, 09:32:58 AM »
My wife and I found ourselves in a very similar situation about 14 years ago. 

I can tell you the most important thing for us was putting our relationship with God first.  We first committed to giving back to God who has given us everything we have.  Once we made that decision and were honest with ourselves and our level of discipline we were able to slowly right the ship.  I have a lengthy testimony about money and would be happy to talk to anyone about, but back to your specific question...

Every situation is different and we don't know all the details in yours.  I would recommend you research some debt consolidation services or even visit a financial/investment planner.  There are numerous programs available to help people in your situation.  IMHO the most important thing is getting out from under that revolving debt.  The HELOC is something to look at closely.  If you have a local bank you deal with it might be worth a serious, all cards on the table, discussion.  You can also contact the company who services your current mortgage for a consultation.  Your credit will recover fairly quickly if you can eliminate the balances from those credit cards or other revolving credit lines.  Also if you can remain disciplined don't close the accounts right away.  The added capacity helps your score, if credit score is something you are interested in.  Credit is a good thing when used properly.  I would agree, the thought of spending a year in a camper with two little ones is not a happy one. 

At a minimum I would recommend that you sit down and prioritize the things in your life.  (if you haven't already)  None of us or anyone else can tell you what is most important to you and your family.  Is it your house?  Is it the truck and camper?  Is it financial freedom and peace of mind?  Sometimes taking a beating on a loan your upside down in is the right answer.   
Exodus 14:14

Offline Flyin6

  • Administrator
  • *****
  • Posts: 20445
    • View Profile
Re: Big life decision. Input needed.
« Reply #6 on: August 03, 2018, 09:35:59 AM »
Morning fellas, Id like you guys to chime in and allow me to borrow wisdom from a pool of knowledge if you dont mind.

We have found ourselves in debt mostly from credit cards to the tune of 40k.  We havent ever budgeted and yes I know we have been ignorant.  We both make very decent salaries but still, living above our means has brought us to a crossroads.  I feel we have caught it just in time.  An awakening happened when we tried to get my wife into a larger vehicle and couldn?t get finiancing from anyone!  We pulled our reports and saw the problem. Overspending has caught up to us. 

We have an option to sell our property which we built 3 years ago.  We have a lot of equity in it and our location is a white hot areas for land and home sales.  Seems everyone is coming down from the city and looking for average and a little farmhouse.  We are thinking of taking the profit and immediately getting out of all outstanding debt and living like gypsies in the 5th wheel for 12 months saving all the money that is therefore available.  We have tremendously gracious family and friends that would accommodate us for that amount of time.  We are strongly considering the adventure, we have two girls, 4 and 1.5yrs. It will be challenging at times but the payoff will be huge when we decide to find land and build again.

The other option is keep what we have and spend years of struggle to catch up and even longer for our credit to do the same.  Kind of a no brainer to me.  However I would like your input, perhaps from your own life experiences.  We are in our 30?s so I figure if we ar going to do this, then the time is now.  We are on a quest for true freedom and happiness.  I feel we have lied to ourselves living the dream (fake) while being a slave to creditors for too long. 

Thanks all!
Dave Ramsey says, "You have to live like no other, to live like no other!

The plan to sell and live in the 5th wheel is living like no other, and if you could, is exactly what I'd do.

But there is another point which was sort of glossed over here, and please do not answer publicly, but are you tithing?

If you are not, then get that back in place.

You see if you don't tithe, then God cannot trust you with money. All of it is his, and he asks for 10% back. Not because he needs it, but to see if you will follow his teaching and he can trust you with it.

Invariably, when you do, the little blessings just seem to show up, at least that is my experience. Have you ever heard someone say that God's math does not equal real math, or something like that?

I had my greatest blessings financially when I was faithful in times when I didn't have much. One time I got a Job offer that was three times my current salary. I tithed on that and within a year, another job which doubled the previous salary.

Another time I was tithing and got a check for almost $150,000, another for $33,000, and two for $6,000 and all from sources I didn't know were out there.

So, assuming you get that right, and perhaps move to the fifth wheel, concentrate on debt servicing and saving for that larger car for the wife and buy it when you have the cash.
« Last Edit: August 03, 2018, 09:37:28 AM by Flyin6 »
Site owner    IS 6:8  Psalm 91 
NSDQ      Author: Distant Thunder

Offline Tommy13

  • Registered
  • **
  • Posts: 189
    • View Profile
Re: Big life decision. Input needed.
« Reply #7 on: August 03, 2018, 09:38:11 AM »
My experience is very similar to Don's. 

Exodus 14:14

Offline Superwhdm

  • I'm a super welder husband dad man!
  • Registered
  • **
  • Posts: 185
    • View Profile
Re: Big life decision. Input needed.
« Reply #8 on: August 03, 2018, 11:00:16 AM »
We technically wouldn?t be living in the camper the whole time.  We have solid places to stay with great friends and family who support our endeavor. We did however basically live in our old camper (travel trailer with NO slides) for a year while we built the house we are in now ha! So its not new to us. But yes we have another little one now so it would be a chore for sure.  Bear9350, we do like the house.  It?s 2500 sq ft farmhouse hidden on 6 very private wooded acres with a great stream that?s full all year long which looks like a mini amazon when it rains hard, as of lately.  Anyhow its a fine property and we love it but we are willing to put everything to faith and find it again with much prayer, diligence and patience. After all, we found that one.  We are not emotionally attached to the property and I said to my wife, I truly believe this is an investment and don?t believe we will be here forever.  I feel God has a plan for us and tend to let Him steer though I can be hardheaded....obviously. Tithing is something my wife and I talk about a lot. We know through His guidance all things are possible.  That gives me a bit more hope and calm over this choice. 

Tommy13, we have been involved with a debt management co since Jan 1.  They negotiated much of our rates and therefore got payments down but it is a long journey when looking at the immediate opportunity we have otherwise.  I have done the numbers and both ways, keeping the house and selling.  I have spreadsheets for both to 12 mos out.  The answer is there plain as math could be.  We will just have to see what our realtor friend says Monday when she comes to take pictures and investigate the surrounding comparisons.  Luckily for us everything that does sell, does so for 375k+ and our property is the last like it in the area. We owe much less than that.
Car or Truck-Truck
Rural or City-Rural
Early morning or late night-Early Morning
Hard work or Easy Work-Smart Work

Offline cruizng

  • Registered
  • **
  • Posts: 645
  • Happy to be here.
    • View Profile
Re: Big life decision. Input needed.
« Reply #9 on: August 03, 2018, 11:25:55 AM »
I have a somewhat jaded look at debt. Especially credit card debt. It is none of our business as to what was purchased to go into credit card debt but it is definitely the easiest thing to do. I have been there as well.

I would also look at bankruptcy with a whole bunch of caveats. Most bankruptcies are a direct effect of medical bills overwhelming someone.  We don't know what your current fixed expenses are. Mortgage, Utilities, Healthcare, etc.... and we don't know your income.

So after 10% tithes are you able to cover all fixed expenses in your home now? (you don't have to answer that). If so you could potentially stay in your home and negotiate out of most of your credit card debt. If your credit rating is already low the credit card companies might reduce the balance amount and suspend interest while you pay back some of it if they feel that you will file bankruptcy and they won't get any of the money back. Bankruptcy effects you for at least 7 years. If you can pay cash and not finance anything for the next couple of years that might sound doable. I would consult with a legit bankruptcy attorney before you decide anything. Crazy experience I had was I called to see if I could get my mortgage payment suspended for a couple of months until I found a job. They told me I would have to be delinquent on at least 3 months of payments for them to consider that. So they want you to destroy your credit rating before they will help.

I have always had too much pride to file bankruptcy. When I was in NJ and laid off for the first time ever in my life in 2010 I had high $$ mortgage, high $$ expenses associated to that house and a style of living that was commensurate with making over $200K a year. It only took me 2 and a half months to find another job here in MN but it took over a year to sell my expensive home n NJ and my new job paid $10 of thousands less than my previous job had. So long story short. Because I didn't want to miss any payments and didn't want to default on any loans over the months and year I liquidated all my investment accounts that I had poured $$ into for years just to pay the bills. My kids college funds were used to pay the mortgage for months. All savings went to pay bills. We ended up losing over $100K on the house. I was living in MN and family was still in NJ. 

And all while this was going on I get a letter from Discover Card. Within months of me getting laid off the letter said they were reducing my credit line from $35K to $1500.00! I only had $1200.00 balance on the card. I only had two credit cards. One from USAA and Discover. I had been a Discover customer for 20 years. Never missed a payment. Never had a very big balance. Always paid on time. Just the time in my life I could have used some temporary credit they basically killed the credit line. So I paid off the $1200.00 and canceled the card. Still makes me mad these years later every time I get a spam mailer from Discover with a new OFFER... I feel like torching it. LOL

So you can tell I have no love lost for Credit Card companies. They are predatory.

Looking back should I have stopped paying my bills and waited the years for them to evict me from my expensive house? I don't know. But I definitely explored it at the time and think to this day I would have been better off to file and pay everything cash. I'm still bailing out from that period of time and still only have one Credit Card (USAA) that rarely has a balance. My wife drives a 2005 Armada with close to 200k mile. I drive a 2008 Duramax with 120K miles with no payments. We pay cash for everything if possible. I did however buy a Kubota BX25D with their no interest offer. That will be paid off in a couple of months.

SOooooo sorry for the long thread but at the end of it all do what is best for your family and specifically the kids. What is the most stable and enriching environment you can create for them? I don't hold any allegiance to any credit card company.

Wish you the best and will be praying for you and your family.  :smiley:
Mike
2008 D-Max pretty stock except small lift, tires, and intake.

Offline Bear9350

  • Registered
  • **
  • Posts: 623
    • View Profile
Re: Big life decision. Input needed.
« Reply #10 on: August 03, 2018, 02:38:39 PM »
It sounds like you have ran the numbers and you can, but, if you got your expenses in line are you able to continue paying the mortgage and work away at the other debt?

It sounds like you currently have a great home/ location to raise a family.  Personally, that means a lot to me and is worth something.

When you created your spreadsheets obviously dumping your house and paying off all the debt is going to look good on paper.  But you can't bounce around forever and at some point you are going to want/ need to buy again.  How do the numbers look then?  I'm assuming you have a relatively great interest rate on your current mortgage if you financed in the last couple of years.  It likely won't be that good in a couple years if I had to guess.  Spreadsheets/ numbers 12 months out sounds awful short sighed to me.  What's the 5 and 10 year plan?

It sounds like you have a decent amount of equity in the current home.  Can you get a HELOC to cover the credit card debt, camper and truck?  Wrap everything into one payment.  Pay off the credit card debt and your credit will start to recover.  Sell the camper, sell the truck and get a more economical vehicle that fits your needs.  Use what's left to jump start paying of the HELOC.  Something along that line is what I would be considering.

When your working on that budget, be realistic about what you can do.  Don't skinny it up more then is feasible.  My wife and I have struggled with that in the past.  It just adds stress to an already stressful situation.

Online stlaser

  • Registered
  • **
  • Posts: 5451
    • View Profile
Re: Big life decision. Input needed.
« Reply #11 on: August 03, 2018, 03:50:15 PM »
All great advice with experience to back it up ^^^^

RM is huge knowledge base!  :likebutton:
Unretired, sweeping floor at GLO once again & making coffee.

Offline Superwhdm

  • I'm a super welder husband dad man!
  • Registered
  • **
  • Posts: 185
    • View Profile
Re: Big life decision. Input needed.
« Reply #12 on: August 03, 2018, 05:58:44 PM »
The 12mo look ahead was just to see what we could do. I will carry the numbers with me much longer than that and change them as life does. The main thing is that we also carry over the discipline and restraint. We currently have a 4% rate.  There is a always a chance we won?t get that but we could also be in a much better place in 12mo. My figures, in a nutshell, are profit 85k from the sell. Payoff 45 of debt and wife?s car, saving us  Have 40 in savings instantly and our credit starts to rise. We spend 12 mos living light while still being able to live and eat while being able to save an additional 40k. In an extreme budget we could have 75k to put down-no pmi-and still have 30k emergency fund. And keep it going from there.

We could get our finances under control and keep everything for sure. But that route is much much longer. Right now our house is payed off when I?m 61. If we do this and get into another place similar at a 15yr mortgage (which we would be able to handle at that point) it?s payed off at 52.
Car or Truck-Truck
Rural or City-Rural
Early morning or late night-Early Morning
Hard work or Easy Work-Smart Work

Online Bigdave_185

  • Raising Boys into Real Men!
  • Registered
  • **
  • Posts: 3077
    • View Profile
Big life decision. Input needed.
« Reply #13 on: August 03, 2018, 07:09:07 PM »
Just going to say thanks for posting, great information and helpful ideas, in very similar spot in life.

What I have found is life didn?t stop or get any less expensive with no house,   Cars break, medical bills come, momma wants a family trip,   

We moved into a rent free place and it?s been a year and change now.   We are a little further than when we had a house payment but not as far as we could be. 

Food budget, fuel savings, look into other expensive things like monthly cable and internet bills, cell phones, excess 401k savings, is it better to have a always busted car vs a car that is a bit more reliable?

Is a job change needed? 
Day care vs stay at home mom/dad/grandparent?

We have tried to live on a super tight budget and save every penny and we came to the conclusion that we can?t stay married if I work that many hours and we only eat beans and rice like Dave Ramsey says

As for the religious contribution I will play devil advocate and suggest that I have tried it both ways.   Yet to make a ruling on better or worse donating money to the lord.   NO Argument needed from the others on this page please or judgments but that?s where I am at these days.    Take it or leave it


Sent from my iPhone using Tapatalk
« Last Edit: August 03, 2018, 07:09:52 PM by Bigdave_185 »

Online stlaser

  • Registered
  • **
  • Posts: 5451
    • View Profile
Re: Big life decision. Input needed.
« Reply #14 on: August 03, 2018, 07:35:22 PM »
Tithe, I would to the church but I already donate to the largest charitable organization in the world aka United States Federal Government!  :popcorn:

In all seriousness, we do not give 10% to the church monthly. However, we give when it is asked of us & are open to giving. Plenty of ways to donate 10% & it doesn?t have to be all money either. My 2 cents for what it?s worth.
Unretired, sweeping floor at GLO once again & making coffee.

Offline TexasRedNeck

  • punching bag for moderator humor
  • Registered
  • **
  • Posts: 6783
    • View Profile
Big life decision. Input needed.
« Reply #15 on: August 04, 2018, 07:30:46 AM »
Unfortunately emotions always come into play in financial situations.  Sounds like you are focused and committed. Good on you. As for the house, I?ve owned 8 houses and everyone was ?special?. The next one will be too.

Don?t let that stand in the way of getting a grip on your finances.  Don?t lose sight of the real issue, which is that your spending exceeded income and no matter what extremes you go to to solve the debt crisis now, if you don?t get that discipline you?ll find yourself back there again.

Work towards getting on a cash basis and remember that when you pay interest you are making someone else money. I hate that and it motivates me.  I work too hard for my money to hand it to someone else. I only justify carrying what little mortgage debt I have because my property is increasing in value faster than the interest and it provides a bit of a tax deduction.

You?re wife has to be on board or bad things will happen.  None of us can tell you what to do, only you can look deep inside and tell if you and your wife are aligned and disciplined enough to do what needs to be done.

What ever you choose we are here to lend an ear and support you.




Sent from my iPad using Tapatalk
« Last Edit: August 04, 2018, 07:34:52 AM by TexasRedNeck »
Kids today don't know how easy they have it. When I was young, I had to walk 9 feet through shag carpet to change the TV channel.

Joshua 6:20-24

Offline Farmer Jon

  • Registered
  • **
  • Posts: 1043
    • View Profile
Re: Big life decision. Input needed.
« Reply #16 on: August 04, 2018, 07:43:09 AM »
I think I would sell the house off and pay the debt. Living in a camper is no fun but the kids are small. Not like you have 2 teenagers. Its doable. Just be careful you don't end up right back where you are now.
07 chevy classic crew cab long box
93 jayco 32 rk 5th wheel
Father, husband, farmer, trucker, mechanic, equipment operator, ect

Offline JR

  • Global Moderator
  • ****
  • Posts: 6822
    • View Profile
Re: Big life decision. Input needed.
« Reply #17 on: August 04, 2018, 06:29:33 PM »
We can all learn from this,,,,,,,,,,,
Retired LEO  Lifetime NRA+  Outcast in Calif

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants"

Thomas Jefferson

Offline Bob/OlallaWa

  • Registered
  • **
  • Posts: 1092
    • View Profile
Re: Big life decision. Input needed.
« Reply #18 on: August 04, 2018, 07:41:48 PM »
I think you need to look closely at the bank rupture route. That is only if you both are committed to  changing your ways about credit... :beercheers: . Don't mean to be critical, but with a positive outlook, it could be a lifesaver. 

Offline Flyin6

  • Administrator
  • *****
  • Posts: 20445
    • View Profile
Re: Big life decision. Input needed.
« Reply #19 on: August 04, 2018, 09:09:22 PM »
Tithe, I would to the church but I already donate to the largest charitable organization in the world aka United States Federal Government!  :popcorn:

In all seriousness, we do not give 10% to the church monthly. However, we give when it is asked of us & are open to giving. Plenty of ways to donate 10% & it doesn?t have to be all money either. My 2 cents for what it?s worth.
Shawn,

I think I read it in the good book. Our tithe, 10% is to be paid to our home church. The reason I say that, is once, a long time ago in Afghanistan, I preached a sermon on finances. I am no pastor to be sure, but as the leader of the group, they expected leadership, so I filled in for a pastor. But the discussion raised quite the Q&A, and I was ill equipped to field all the questions.

Just got back from the farm, I'm roasted...I'll check it out and get you some verses...
Site owner    IS 6:8  Psalm 91 
NSDQ      Author: Distant Thunder

Online stlaser

  • Registered
  • **
  • Posts: 5451
    • View Profile
Re: Big life decision. Input needed.
« Reply #20 on: August 04, 2018, 09:37:27 PM »
Don, the word tithe in of itself means one tenth of something I believe.
Unretired, sweeping floor at GLO once again & making coffee.

Offline Superwhdm

  • I'm a super welder husband dad man!
  • Registered
  • **
  • Posts: 185
    • View Profile
Re: Big life decision. Input needed.
« Reply #21 on: August 05, 2018, 07:45:20 AM »
Thank you guys. We are both very committed to this. I will keep you all in the loop as we go along this journey. Personally, I am very excited about it. Funny excerpt, I have only two neighbors on a long gravel rd that end at my place. They are fantastic and they both have keys and codes to my home and vice versa. We finally told them about our plan and the family in the first house said ?Ha, we talked to a realtor last week. ?. The the second, ?well tell me how much you may sell for?. I was a little shocked but that goes to show how the market is in our area right now. We all have built/been here for under 4 yrs.
Car or Truck-Truck
Rural or City-Rural
Early morning or late night-Early Morning
Hard work or Easy Work-Smart Work

Offline moto123

  • Registered
  • **
  • Posts: 317
    • View Profile
Re: Big life decision. Input needed.
« Reply #22 on: August 06, 2018, 02:12:35 PM »
It sounds like you kind of already know which way you are heading.  But some additional comments for your financial calculations.  Everything you need to operate day to day can get more expensive when living mobile.  Food for example, in a home you can buy cheaper food in larger portions and cook.  You can store food in jars or the freezer.  In a camper you have no room to store the food so you have to buy smaller quantities at a greater price per item.  Often due to the limited space you will likely eat out.  So your food budget in my mind should be 50% more up to possibly even double for the living mobile scenario.  Maintenance is another cost that may increase.  With your own garage you can fix you own broken appliances, tools, cars, etc.  Without the garage or tools you will need to hire someone to repair all those items.  Again the cost can double.

I would also offer potentially a third option as a kind of middle ground.  Sell your current house, live mobile for 6 months (or at least plan for that long) and then plan to buy a cheap house.  Nothing fancy, but at least a permanent structure that doesn't need immediate repairs.  If you sold the camper and possibly the truck, could you then spend the same amount monthly on a mortgage for a small house?  I understand at first it will be painful since you are upside down in them.  But in the long run putting that money into the house will build equity, paying off the vehicles will not.  This would also be the time to evaluate bankruptcy.  After you have already purchased a house that you can more easily pay for, you can stay there as long as you need to allow everything to settle out.  It may not come to that, but at least you would be prepared.

Offline OldKooT

  • Registered
  • **
  • Posts: 1407
    • View Profile
Re: Big life decision. Input needed.
« Reply #23 on: August 18, 2018, 09:01:40 PM »
All of the above sounds like sensible advice, it reads like you have a plan/idea that on paper at least makes sense to you.

I hope whatever you choose works for you and yours









Norm

Are you a prepper?  "No, whats a prepper? I am just a mildly OCD farmer"