My horrible year..part 3

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Wow. That is really shitty. Keep your head up man. Something will work out.

I agree with Jeffie though. That girl leaving you was probably a good thing. The guy that she rushed into marriage with is going to end up with financial problems and likely a divorce, and that bankruptcy is going to haunt her for the rest of her life. My GF's parents had to declare bankruptcy back when they were first married, and she still gets rejected for credit card applications once in a while, despite the fact that she's a VP making $150k + per year.

Just do what you can and try to avoid your own bankruptcy if at all possible. Definitely check with the bank and see what they can do...
 
call EVERY recruiter in your area. Go into offices that have positions listed online.

I have learned the hard way that submitting resumes does nothing. also, work on connections and networking. reach out to people. make friends and collect business cards. it will help in the future.
 
That is true 95b16coupe, persistence is the key. Simply submitting your resume then sitting back to relax and waiting for them to call you is usually not enough, you have to go the extra mile. When you do that then the employers recognize that if you do that when you're not even hired then you will most likely be a dedicated employee and go the extra mile on your projects (however, a lot of times this is not the case - you just did it to get the job haha)
 
I already am signed up with 3 recruiting companies and 2 head hunters. Thats where the most recent lead came from.

Some good news....i spoke with my Ex today....she saw a lawyer he advised her not to file for bankruptcy.....he recommended if we really want to get out of our situation we should try to short sell the condo.....not sure how that works....but i have an agent coming tomorrow...
 
Did the lawyer tell her what would happen if the sale was short? Who gets stuck with the bill in the event that happens?
 
a short sale is when the value of the house is less than the mortgage.

a short sale benefits both parties. the bank get what they need (through negotiations, so it's not guaranteed)

the sellers get out from under the mortgage. just make sure that all the debt is cleared.

you can get another mortgage in 1-3 years.

i still don't believe a house is the best investment anymore.
4-6% interest
1-4% in maintenence and upkeep
possible home owners fees and insurance.

the average property value doesn't go up at a greater rate than the expenses.
 
mortgage interest in tax deductible.
value of the house only matters when you sell.

live somewhere for 15 years. you WILL make money on it if you don't trash it.
 
My sister is buying a short sale at the moment. To sum it up, it's when the bank agrees to sell the house for less than is owed on the mortgage and the original owner is not responsible for the difference. The only issue she has run into is that it takes much longer for the bank to approve it. But generally it benefits both buyer and seller.
 
I knew what a short sale was, I just didn't know all the details behind it. I just assumed it was like selling a car when you are upside down on it...

Thanks for the heads up.
 
I would check out the tax implications of a short sale.
The bank might eat that loss, but they will more than likely issue a forgiveness of debt, which is taxable.
just a heads up
 
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