Submitted by: Sally Moffitt, Administrative Assistant
Description: My husband and I built a nice home on a golf course right at the peak of the housing market, and paid top dollar. The recession hit, and my husband's job (retail sales) is never going to rebound to the way it was before.
We are strapped with the payment and have been for about eight years. We have three kids in college, and have the revolving door right now — they just come home for breaks, but we still need room for them.
We are saving for retirement and feel pretty good about that. But we would like to not live paycheck-to-paycheck anymore.
Is it wise for us to sell even though we know we won't get what we paid for the house? We cannot decide what would be better, and the housing market is still pretty stale in the area we live.
Thanks for any advice. We think about this all the time!