My husband and I are in the same boat. Received PCS orders and moved to Boston. Bought a house that needed renovations...sank $10,000 into it, were told we could get our money out of it in 3 years when we were due to move by realtor and others. Market crashed months after we bought the house. We are currently upside down $40,000.00 on the house. We put the house on the market hoping to get out from underneath it and give it time to sell. Market is so stale no one is buying. Told that market won't improve or we'll start to see home values increase until well after we are to due to move again. Thought about renting but I will loose my job when we move again and will still have to pay $700-800 out of pocket for expenses on this house and try to manage it from another location...still won't be able to afford it at that point.

Now our savings is depleted. Do we get out now and let the house go to foreclosure? We bought a house and now our financial situation is caos.

Any suggestions?

CS,

We certainly empathize with your situation. We do not believe Military Families should endure this and hope we can help bring relief in the near future. Please stay tuned...we will soon have a capability for you to easily contact your Congressmen.

Joe