Completely agree. Stop blaming everyone else for what has happened. If you want to blame someone then put it where it is warranted the United States Government and their lending policies through Fanny and Freddy. They caused the bubble by demanding loans be made to deadbeats. Unintended Consequences.
Any way to start selling the timber to do the renovation?
I am not blaming anyone. I am VERY Unhappy that either the first appraisal ~50 acres forested AG land = $225,000 or the current one where it is only $150,000 value was A LIE. Right now I am assuming it was the FIRST appraisal honestly.
I feel like the bank got a lie to cover their rear the first time, and now I am HOSED. There in NO WAY property in this county FELL that much in just over 2 years.
No way.
For the record, I am a staunch fiscal conservative, and I do NOT support most of what the Govt. has done economically for many years...
David
Well you could always.. emm Ahh in a pinch .. as a last resort.. if the chips are really down emm ...sell your tractor!!! There I said it
Blasphemer!
I am not blaming anyone. I am VERY Unhappy that either the first appraisal ~50 acres forested AG land = $225,000 or the current one where it is only $150,000 value was A LIE. Right now I am assuming it was the FIRST appraisal honestly.
I feel like the bank got a lie to cover their rear the first time, and now I am HOSED. There in NO WAY property in this county FELL that much in just over 2 years.
...
The remodel costs $100k for 1344 square feet, new roof, etc and then there is closing costs of $??k... 1344 square feet should add approx $140k... but the land & house are on a single deed/loan. House went up in value $115k, land went DOWN $75k...
Therefore, I am toast, plus I need to pay $550 for my wife's shattered dreams... this could cost me my marriage, we NEED the space...
Following sdkubota's thought, how about a construction/office trailer? No foundation needed, for an office and such plumbing would not be a necessity. Run a temporary power line to it for lights and a little heat. It might allow you to have more living space use of the basement. Should be able to re-sell it when done with it. Might run afoul of zoning.