Am I crazy to consider this?

**dakotamidnight** · 10-07-2011, 12:55 PM

Please tell me is this rational or am I just nuts to even debate doing this.

I'm currently in Southern Texas, house is mortgaged and we have 24 years left on the note. Due to a radical change in finances we are BARELY making it here - and it's not going to get better. We can try to tough it out, but I'm not holding my breath on being able to last the full note. I"m a single mom fwiw and do NOT get child support {long story but it's better this way as I don't want him around my child}. So I have two options - 1. Move into low-rent housing here or 2. find something cheaper elsewhere. I work from home fwiw, selling books online that I buy at thrift shops. We also home school and I coupon shop, so without a house note we could feasibly live on maybe $100 a month plus cost of utilities {we qualify for food stamps and medical aid}.

I am considering option #2 - moving somewhere else cheaper. Specifically finding somewhere {I've looked at Detroit and a few other large cities that are down on their luck with lots of empty houses} where I can buy a house free and clear for under $10k. Sell off everything we own that we can, donate the rest and get someone going that way to haul us and what we can carry to new house. Slowly rebuy everything we need as I can find it cheap and we have funds from my income. I'd either sell the house here or just let it go back to the mortgage company. If I sold it I might get $5-10k for it, but it's more likely we'd break even.

Am I crazy to seriously consider doing this? Has anyone else done this?

**Greebo** · 10-07-2011, 01:41 PM

Originally Posted by dakotamidnight

so without a house note we could feasibly live on maybe $100 a month plus cost of utilities {we qualify for food stamps and medical aid}.

Low rent = $100/month? This seems... doubtful.

I am considering option #2 - moving somewhere else cheaper. Specifically finding somewhere {I've looked at Detroit and a few other large cities that are down on their luck with lots of empty houses}

Detroit? Well I suppose if the way you make money is one you can do anywhere, ok, but do you really want to move to a region that's worse off than where you are now?

I'd either sell the house here or just let it go back to the mortgage company. If I sold it I might get $5-10k for it, but it's more likely we'd break even.

There is no "letting it go back" to the mortgage company. They never owned it. The previous owner owned it, and you asked the mortgage company to lend you money (not a house) so you could buy the house you have now.

So morally, in my view, if you can maintain ownership of this house until it sells, you should.

Which makes the question - CAN you? You say you're just managing to scrape by - but what makes you think it will never get better that such a drastic plan is on the table?

Also your 5-10k estimate seems ludicrously low if you're not talking an inner city abandoned zone type property - have you actually valued the property? Even on something like Zillow.com?

**annymoll** · 10-07-2011, 03:02 PM

The only job in Detroit I can think of would be giving armed tank tours of the very neighborhoods you want to buy into.Go into public housing and go back to school so that you can have the skills to support your family.

**dancemommy** · 10-07-2011, 03:15 PM

It is good that you are trying to come up with a plan, but I would not moved to a more depressed area than you are now for many reasons. Can you increase your income? I used to sell on Ebay and Amazon - books, etc so I understand what you are doing for a job. It is not as profitable as it once was. IMO public assistance isn't something that should be part of your plan. I think it should be used temporarily and to get from step 1 to step 2 so if you go that route please have a plan to leave that route at some point. Go to college or some kind of career development while using the public assistance or expand your business. Good luck. I know times are tough for so many, but I think you need a plan larger than you have made thus far.

**Maddy's Mom** · 10-07-2011, 04:15 PM

That's a strikingly similar plan to the one I have devised...so just know that you are not crazy for thinking that way! What part of TX are you in? I am between Austin and San Antonio. The cost of living here used to be the lowest in the country, but has steadily been increasing in the past year. I have a mortgage and the housing prices here have actually risen in the past 4 years, so we are looking at a good amount of equity. You might be surprised with what you can get. I would put the house up for sale ASAP and scratch your plans of ditching the house(aka forclosure).
My plans for the next 2 yrs, btw, which my husband is not on board with(YET!) is to sell our house and buy one near Cleveland, Ohio outright. We are from that area and have family, so it's not nearly as drastic as what you are saying, but similar. I had also planned on getting rid of all of our stuff and replacing it with CL and yard sale finds. The education I want is cheaper there too. I still don't think it's a bad idea, but why would you want to move somewhere where you don't know anyone??

**shoiji** · 10-07-2011, 07:13 PM

Do you have any rooms you could rent out? Personally I would be warry about moving to a depressed area for both safety and job security.

Hopefully you will get some good ideas.

**ladykemma2** · 10-08-2011, 04:27 AM

in another post i suggested you put the kid in school and get a job.

**FrabjousDay** · 10-08-2011, 11:44 AM

From your other posts, my impression is that you don't want to face the reality that the three of you cannot survive on your mother's social security. So, no, you're not thinking rationally.

**dancemommy** · 10-08-2011, 12:09 PM

I agree- sell the house, move to a better school district (even if that means cramming into a one bedroom apt), put your child in school, and get a job while he is there. You cannot support 3 people off of mom's ss income. It isn't fair to her or to you and your son- what happens if/when something happens to mom? You need a larger plan. I feel for you- I can tell you are definitely at a crisis point, but you need to come up with a plan to support yourself and that may mean making some difficult decisions. I think living with your mom and splitting the rent is not a bad idea. If she will help you with fill in child care around a school schedule even better. Maybe you can work early in the morning before school and grandma can get him to the bus and then you can be home when he gets home or maybe grandma can watch him for an hour after school if you cannot get there. Honestly, I know it is very hard to have a special needs child and you probably feel like you are doing what is best for him by homeschooling, but by getting some professionals involved you may be opening up new doors for him. He is very young- it will get easier. I know you said that you are not feeling well enough to work. Apply for disability, but know that it may take years. In the meantime, Ebay and Amazon are not as profitable as they once were (I know- I sold there for 10 years, but quit as it was no longer worth my time). I think you are going to have to look for a "real" job and just try to get through it. Go see a doctor and take good care of yourself and see if you can get yourself to a point where you can handle working. Maybe a receptionist at a doctors office or something like that where you are sitting. I wish you the best of luck-

**oheoh's momma** · 10-08-2011, 01:21 PM

I have read this twice and I really thought there really is no way for you keep your house. It does not sound like you have marketable jobs skills. the people i know usually have another job besides selling on line. it is an extra source of income rather than the sole source. living off your mothers is grossly unfair she only gets enough for herself. DO NOT MOVE!!!
I suggest moving into a smaller cheaper place to live and no everyone does not have to have their own bedroom. sign up for food stamps, coupon, buy stuff at yard sale cut out what you don't need. cell and land line. extra cable channels beyond basic, hang dry clothes, generic stuff, yard sales clearance sales, yard sales , dumpster dive, freebies ect. Find a church family for emotional support.
Sale your extra stuff u do not need. Can u handle house cleaning jobs, baby sitting, light elder care were they can walk and bathe themselves?
I am sorry it sounds like dire straights and you will have to work even if you are not able. It is tough but you have a child to raise.
Good luck. and hugs I know you may not like my advice but it is meant to help you.