Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - If given the right deal should I keep the house? - I live in a home that was built in 1850 (mortise joints) on a half acre. The partial basement has cracks and holes that the water shoots through when it rains heavy (heavy rain for 2 to 3 days) so i will need to have the floor re-done with the proper drainage to sump pump. The crawl space will have to be dug so it can become an actual crawl space, no one can fit in now. The basement supports which are now rocks piled on top of each other will have to be replaced. The home will have to be gutted. New plumbing. The upstairs ceilings must be higher by going into the attic. I will need a new roof. The stairway will need to be reconfigured/moved to allow for proper angle. I will be able to have the electric redone for free. If I did do this I was going to have it done piece meal. Now for the real question...The bank and I will be having a meeting. I paid way too much (250k 30 yr mortgage) for this home, should I keep it and if so what is the max I should go if they offer a deal? I am not emotionally attached to the home however, I am in a great school district, great community, and my taxes are low. The likelihood of me owning a home again is slim to none as I am 41 and in the middle of a bankruptcy due to under employment. I ask for real answers not jokes or wise remarks. -
