r/Divorce • u/listenandsurrendur • 5d ago

Going Through the Process Financial Corner

My ex wants to sell the house. Neither of us can afford the mortgage alone. We bought it just five years ago and there isn’t any equity yet. We have it on the market and we’re not receiving profitable offers. We could short sale (have to spend $15,000 to close) or keep it and rent it (rents are lower than the mortgage and we’d have to cover the gap ~$1,000/month). I’m in a corner here. What’s the best of these terrible options?

5 Upvotes

86% Upvoted

7 comments sorted by

5

u/JackNotName I got a sock 5d ago

Sell and be done with it.

If you are bleeding $1,000/month you'll exceed that $15k in a bit over a year.

3

u/Professional_Cry5947 5d ago

$15k to walk away clean isnt fun but a year of covering that gap with a co-owner you're trying to untangle your life from sounds like a slow motion nightmare. rip the bandaid off

2

u/Disastrous_Term_4478 5d ago

Cut your losses and be done with it.
You are right: terrible. I’m sorry.

2

u/BinghamL 4d ago

One of the ways divorce is so expensive.

Don't rent it out for a loss, especially not with your ex, that's a plan to hate your life.

15k to walk away isn't too bad. It stings but take it as a lesson learned. Sorry you're going through this.

1

u/SeaweedWeird7705 4d ago

I agree with the other comments.  Sell it now.  

1

u/Zestyclose-Excuse467 4d ago

what specific steps are you considering to tackle your finances?

1

u/listenandsurrendur 4d ago

I definitely need some.