Dion and I have been struggling with this house dilemma. Here's the 411, the lowdown, the...whatever....here it is.
So we have this house that we want. It is priced very low and is actually a very good deal. It's in a good neighborhood, but needs a little work. The catch is that they are only taking non-contingent offers since the house is in pre-foreclosure. We have had our house on the market for about a month or so, and have had 2 showings. This weekend is our open house. If we go through with the offer, we would be closing on the other house on July 30th, whether or not we have sold this house. Two mortgages. Very scary.
We are at a loss as to what we should do, but are leaning towards letting the other house go. The stress of knowing that we could have two mortgages is overwhelming, but the thought of losing that house is not so nice either.
Here's where you come in to play. What would you do? We know that our first payment on the new house wouldn't be until Sept 1st, and the fact that Dion and I are getting raises soon, plus Dion's bonus is a comfort, but is it enough? I have no clue. Leave me a comment and let me know your thoughts as mine are worthless right now. Thanks my loyal blog reading friends!