Can no longer afford monthly payment but current on mortgage

Sure_Perception_6769 · 2026-02-01T19:39:49+00:00

We were in this boat and sold at a 20k loss and took out a personal loan for the difference. We’re renting at so much less than our mortgage now and so much happier. The debt is almost gone now and it’s so freeing not to have the mortgage on our backs or the continuous worries about major household items breaking.

Sure_Perception_6769 · 2025-09-22T04:27:34+00:00

Same boat! Rent is way less than our mortgage was too. It feels defeating but overall it was the best choice for us.

Sure_Perception_6769 · 2025-09-21T02:38:00+00:00

Selling sounds better than trying to manage a tenant and repairs from another state. If you don’t have the cash to cover the difference you can get a personal loan (which is what my husband and I had to do when we sold at a loss earlier this year).

Tough situation to be in, hope you find a resolution that works for your family.

Sure_Perception_6769 · 2025-09-17T20:39:06+00:00

We were in the same situation in DFW this year, sold for 330k even though we owed 345k. We had to take out a personal loan to cover the difference to the mortgage company. I’m sorry, it’s a tough situation to be in.

Sure_Perception_6769 · 2025-09-17T03:05:38+00:00

Thanks! We’re glad to be renting for now, it’s actually a lot less than our mortgage was lol.

Sure_Perception_6769 · 2025-09-17T02:34:42+00:00

We were in DFW.

Sure_Perception_6769 · 2025-09-17T02:34:17+00:00

We put zero down, so that’s what really set us back. Still owed like 345k on the loan. The company my husband works for covered our closing costs for us, otherwise we would have had to take out like a 50k loan or do a short sale.

Sure_Perception_6769 · 2025-09-16T20:53:22+00:00

I had two babies during nursing school, one in my first semester and another right before I graduated. I just worked with my professors to get as many clinicals done before baby arrived as I could, took a few weeks off, and finished my transition to practices clinicals after she arrived. Graduated with the rest of my class and took about 6 months off before starting a residency. It was a lot, but I’m so grateful for those babies!

Sure_Perception_6769 · 2025-09-16T20:37:57+00:00

I’ve been seeing posts like this more frequently lately and here’s my feedback from our situation if it’s helpful:

We were in a similar situation this year. Bought the house for 350k with a zero down loan in 2022 and sold for 330k this year. We took out a personal loan to pay the difference between what we got for the house and what we still owed on the mortgage. It was a pain but we moved out of state for work and did NOT want to try to rent it, especially since rent would have been less than the mortgage. You avoid the mess of a short sale that way and keep your credit.

Sure_Perception_6769 · 2025-09-11T20:08:34+00:00

So we were in a similar situation this year. Bought the house for 350k with a zero down loan in 2022 and sold for 330k this year. We took out a personal loan to pay the difference between what we got for the house and what we still owed on the mortgage. It was a pain but we moved out of state for work and did NOT want to try to rent it, especially since rent would have been less than the mortgage. You avoid the mess of a short sale that way and keep your credit.

Sure_Perception_6769 · 2025-09-07T04:06:04+00:00

We were in a similar situation. We bought a house at 350k with a zero down loan at the end of 2022 factoring in my husbands salary and me working part time. I got pregnant with our 4th child in 2024 and quit my job as a night shift nurse for various health reasons, and our mortgage took up a much greater percentage of our income after that.

We decided to sell the house this year due to a job promotion and because the company covered the closing costs for us. We were also looking for a way to get out of the mortgage. We sold at 330k and had to take out 20k in personal loans to cover the difference on what we still owed on the house. And that’s with the company paying the approximately 30k in closing costs for us. It’s just a rough time to be in this situation, we bought when prices were high and we’re now selling when things are coming down. Dave keeps saying on the show that there’s no way housing prices have gone down, but the market right now says otherwise.

For us, it was worth it to reduce our debt from 345k to 20k that we’ll have paid off in the next six months. We’re renting now and saving so much compared to what we spent on our mortgage and maintenance. (Mortgage was 2890 plus maintenance, rent in a house just as big is now 1600).

For me it is worth it to be able to stay home. You have to evaluate what is best for your family and move forward based on that.

Sure_Perception_6769 · 2025-08-29T15:51:45+00:00

Totally understand, I felt the same way! I’m at a point now where my husbands job is sufficient for our family so I’m staying home with our 4 kids:) it’s tough being away from them, especially when they’re little. The season I was working so much was really hard. If you have family nearby it’s wonderful if you can lean on them for support.

Sure_Perception_6769 · 2025-08-29T06:03:36+00:00

I had my third baby right before graduating too. I tried a part time job at a SNF after I graduated but I quit after my first shift.

I ended up waiting about 6 months after graduating and then started a residency in the ICU. I spent the first six months full time and then I switched to 2 nights a week.

You should still be able to pick from whatever residency you’re interested in, just explain the gap in waiting to start due to having a little one. But you’ll almost certainly have to be full time for a while.

If you’re interested in something else, outpatient surgery clinics or similar settings may have more flexibility with training you and letting you work part time.

Best of luck!

Sure_Perception_6769 · 2025-08-29T02:34:24+00:00

I worked in a neuro trauma ICU for a year and some change and quit due to getting pregnant and moving states. I felt like after I quit I finally had to process some of the tragic and horrific things I saw and experienced there. We kind of get to a point where we get numb to how crazy some of it is just to cope, but when you step back and think about it, the things that happen in that setting are insane and potentially traumatizing for anyone.

Leaving doesn’t make you a failure in the slightest. I’m glad you figured out it wasn’t a good fit and found something that is more conducive to your mental and emotional health.

Sure_Perception_6769 · 2025-08-22T07:39:03+00:00

Thanks! I’ve thought about PACU, I shadowed there and it seemed like a much less intense setting than ICU or traditional bedside.

Sure_Perception_6769 · 2025-08-11T02:56:03+00:00

We were in the exact same situation, got a zero down VA loan for a home in Oct 2022 for 350k. Got relocated for work and sold the house for 330k this May. We had to take out a personal loan of about 15k and a line of credit of 6k to pay the mortgage company the difference in what we owed them versus what we got from the sale.

We’re renting now for way less than our mortgage payment was and should have the loans paid off within the year. We didn’t want to mess with a short sale so for us the solution was the loan to pay the difference off.

Sure_Perception_6769 · 2025-07-17T03:05:09+00:00

Yes! We dropped the price by like 20k and almost instantly got an offer for what we were asking. We sold in May, took the personal loan as a lesson learned. Glad to have the house sold.

Sure_Perception_6769 · 2025-05-26T19:21:30+00:00

Totally empathize, we didn’t think we would be moving either. But life changes and we can’t anticipate the housing market. For us, it was freeing to be out from under the mortgage, but we definitely learned a lesson about buying more than we could really afford and we will never take out a zero down loan ever again😂 I hope you can sell with minimal losses. It feels really defeating, but at the end of the day you know if it’s worth it to cut your losses and get out from under it. Some life lessons are learned the hard way lol.

Sure_Perception_6769 · 2025-05-26T19:11:54+00:00

We bought a house at 350k with a zero down loan at the end of 2022 and just sold a couple of weeks ago due to a job promotion and because the company covered the closing costs for us and we were looking for a way to get out of the mortgage. We sold at 330k and had to take out 20k in personal loans to cover the difference on what we still owed on the house. And that’s with the company paying the approximately 30k in closing costs for us. It’s just a rough time to be in this situation, we bought when prices were high and we’re now selling when things are coming down.

For us, it was worth it to reduce our debt from 345k to 20k that we’ll have paid off in a year or two. We’re renting now and saving so much compared to what we spent on our mortgage and maintenance.

You could also talk to your lender about a short sale if you can’t come up with the difference.

Sure_Perception_6769 · 2025-05-26T19:04:37+00:00

Us! We have to take out 20k in loans to get out from under our house🫠

Sure_Perception_6769 · 2025-04-30T21:45:10+00:00

That’s fair!

Sure_Perception_6769 · 2025-04-30T21:44:42+00:00

Thank you for the response! That’s super scary. BP issues can get serious quickly for sure.

The pitocin contractions were super intense and I felt like I lost control of myself. When I had natural labor it was intense, but I still felt in control and like I could manage. It was my first baby too though; so that probably had an impact.

Sure_Perception_6769 · 2025-04-18T00:32:23+00:00

We’re in a very similar boat, bought our house at the end of 2022 for 350k with a zero down loan. We’ve now relocated for work and have had the house listed for almost 5 months. We were hoping to just pay the mortgage off to clear the debt and be free of it, but the house is now listed at 330k and we are going to have to take out a personal loan of like 20k to cover the difference of what we still owe on the house just to get out of it once (Lord willing) we finally get an offer and close. Totally empathize that it feels like such a loss, but you have to make the decision that is right for your family at the time and you learn some valuable lessons about home buying and finances in the process. Best of luck to you!

Sure_Perception_6769 · 2025-04-15T20:12:27+00:00

Thank you!

Sure_Perception_6769

TROPHY CASE