Back in 2008, we decided to overextend ourselves by building a house on a 3/4 acre land. Our mortgage/utility bills, one auto pymt, takes most of my husband's paychecks from his two jobs. I work part-time. We have a 20 year old son in college and a 9 year old son. What are some options out there jf we were to move into a smaller place? My husband says we won't find anything significantly lower than our current mortgage (we got a special rate). It would be nowhere close to the size of where we're right now. Our house is 4.500 sq feet. Right now, we're paying $3600 plus property tax, totaling a little under $5k. Here in Calif., house are so expensive that our home's value is a deal than anywhere out there. We're renting out the basement studio so that helps but we still live paycheck to paycheck. The perimeter fence of the property is not done and we have dirt for our backyard. The property has gained about $350,000 in equity since 2008. What do you think?
Read more: What are our options in lowering our mortgage and gaining financial freedom?
