We are "underwater"

A few months ago with mortgage rates once again ridiculously low (thanks to government manipulation) we set out to try and refi our current mortgage. This required us to get a fresh appraisal on our property and needless to say, I wasn’t feeling optimistic about it. In fact, it was worse than I feared and we are actually about $30-60K underwater. Sucks to be us.

I wonder if we should just walk-away, it seems to be the modus operandi now. However, even a godless atheist like me can’t justify walking away. Don’t get me wrong, from a rational point of view, I could improve my own personal situation by just forgetting about this house, but I signed on the dotted line and I gotta pay this thing back. Unfortunately, since our mortgage DTI is less than 20%, we don’t get any help from the Obama plan either.

Damn it, what was I thinking with being responsible and not buying too much house. I should have know the government was going to step in and bail me out, I should have levered up when I could. Oh well. /sarcasm

So it kind of sucks. Underwater on the house, not being paid as much as I was expecting at work, working longer hours and having more responsibility. At least the stock market is trending upward…for some inexplicable reason.

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