Quick back story. Filed for D last June, xWW moved out of our marital home. I couldn't make payments alone. Decided to rent a condo before my credit was ruined from missing payments. Decided to short sell/foreclose on the home, with much sadness.
Fast forward to today. House still isn't sold or foreclosed. My lease is almost up on my condo. New options have surfaced. The bank will accept a short sale if I pay them $12,000 cash. Foreclosure is no longer an option as I make too much money and would be sued. However, a new mortgage modification program has become available that may allow me to afford to return to the home (mortgage would be less than my current rent pmt). The flip side is I would be walking back into a home that is $50k underwater, so I would be stuck for a while.
Then there is the emotional side of things. Kids would be thrilled to be back with their friends in the old neighborhood, riding bikes, playing, etc.
Emotionally, I want to go back to the house, the thrill on the kids faces alone would be priceless. Financially, settling $50k of debt for $12k is pretty darn enticing, but would also mean I am stuck in my little 2 br condo for another couple of years, where the kids have nobody to play with, etc.
Not sure I am looking for a advice, although it is welcome. This isn't life or death by any means, but is certainly the biggest decision I have faced since filing for D. Thought I would throw it out for some SI thoughts. Thanks.
