All Forum Posts by: Sean Reynolds

Property settlement has not been settled. When we bought the house, we did 100% financing, 80/20 loan. One bank at 6% and the other 8%. I know, I know, what an idiot. Now I'm stuck. I do live in Louisiana which allows the bank to come after difference. I know this is an investment site, so I figured y'all would know the best way to handle this. I hope to right te ship ad put myself in position to invest.

Divorce finalized. Niether of us live in the house. It is rented, but the rent is not covering the note or any repairs that come up. Upside down on the house, and at a terrible interest rate. WHat should I do? Sell the house and take the loss. SHort sale. Walk away? I do not want to walk away from the house, but my ex wants to. She is not helping out with repairs or covering the loss. Please give me some advice. I do not want my credit ruined and want to buy another house in near future.

I am new to the sight and just read a very insperational post. Thanks r2d2. I want to be a multi millionaire real estate investor. I have been reading as much as I can take in and have found that websites like this give me the real world info that a book can not.
Now, a little about myself,
I am 33, married, with a 17 month old daughter, and another due in 3 weeks.
I have been working for southwest airlines for 11 years, and I love my job. The only problem is that it won't make me a millionaire. That is why I am here. I just bought my first house in Feb. and am hooked. I enjoyed everything about the process. Oh, and I live in New Orleans. Right now is a buyer friendly market, but insurance prices are killing us. Anyway, I have already put several offers in on some property and am waiting for response. I intend to join my loacl rei club, but have not yet. My schedule is a little full with the new baby coming. I just wanted to say hello to everyone, and thanks for all the info. I don't think I could put a price on the help I am getting from everyone. Thanks
If anyone here is from The big easy, let me know.