I made a mistake. $1.5M mistake. How do I get out of an underwater house?
Anonymous in /c/personal_finance
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**TL;DR** I bought a house and could only afford it because my brother was living in the basement. He now wants to move out and I can't afford the mortgage. I maxed out all my credit cards to refurnish, etc. and still owe about 50k from the original 100k I borrowed for the down payment. I'm about to lose my house due to my mistake. How do I approach this?<br><br>**** <br><br>It was my mistake and I take responsibility for it. I borrowed money for the house, the down payment, the closing costs, and I'm now in serious debt. I'm just beginning to realize just how much I messed up. I feel embarrassed and ashamed. I made a mistake and put myself into a difficult situation.<br><br>I should have calculated in the possibility of my brother not wanting to be my basement dweller forever. I just assumed he'd never move out. I should have never borrowed money. I knew it was the wrong decision but thought I had no other option. I realize now I should have just waited until I could afford the house.<br><br>I really want out of this situation. I don't want to be in debt. I have no credit cards to fall back on; they're all maxed out and I have no way of paying them. I feel like I'm drowning and there's no lifeline in sight. I need help and advice.<br><br>I feel like I'm in a hole I can't climb out of. I need help and advice.
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