To make a long story short, I bought my home at the peak of the bubble for about $230,000, then did about $30,000 in improvements and today it is worth….wait for it…..$89,000. Sooooo, that leaves me just ever so slightly upside down in it, to the tune of about $80,000. On top of that my income has gone down instead of up and add to that some other financial/medical mini-crises have led me to decide to pursue short sale and/or deed in lieu of foreclosure and/or foreclosure.

I am trying to remain positive about this change. I never expected to be moving back into renting an apartment after owning homes since 1989, but I can’t see any other way out. I am so stressed from living pay check to paycheck and having no safety net. I inquired about all the special “programs” but don’t qualify for any of them (basically because I’ve paid my mortgage up to now and always held a job).

Over the next few months, I will be purging everything that I can, saving every penny that I can, looking for an apartment and going through this process. I am putting myself in the mindset that I am simplifying my life and trying to look at it as though it is an adventure. I am hoping to be in an apartment by September of this year.

Wish me luck!