Home buyer situation after job loss

[Moon_Walker]

Story on expats from a Austinite

Looking for honest advice

Both me and wife were laid off. We have approved i140s. She is currently in India and now can't travel back due to appointments mess, and now 100K rule will be applicable on her. We are already ~15 days in our 60 days grace period. It is likely going to be end of US journey in this tough enviornment. 

We bought a house in Austin in 2022 (big mistake) and it is down 20% in value. Even if we try to sell today, we have to pay 35-40k out of pocket. Renting it would cost us $1300 per month since rent won't cover mortgage+escrow.  We’re not sure if hanging onto it and hoping the market improves is smart, but paying $40K right now severely hurts our savings.

We ideally want to keep the option to return to the US open in the future, so we’d like to avoid choices that could severely impact our credit score long-term.

Has anyone been in a similar situation? What realistic options exist if we don’t want to pay $40K out of pocket today? Any experience or advice would really help.

[Moon_Walker]

@Sonu_Patel@Sucker

Youth emaipovaali

[Tellugodu]

10 minutes ago, Moon_Walker said:

Story on expats from a Austinite

Looking for honest advice

Both me and wife were laid off. We have approved i140s. She is currently in India and now can't travel back due to appointments mess, and now 100K rule will be applicable on her. We are already ~15 days in our 60 days grace period. It is likely going to be end of US journey in this tough enviornment. 

We bought a house in Austin in 2022 (big mistake) and it is down 20% in value. Even if we try to sell today, we have to pay 35-40k out of pocket. Renting it would cost us $1300 per month since rent won't cover mortgage+escrow.  We’re not sure if hanging onto it and hoping the market improves is smart, but paying $40K right now severely hurts our savings.

We ideally want to keep the option to return to the US open in the future, so we’d like to avoid choices that could severely impact our credit score long-term.

Has anyone been in a similar situation? What realistic options exist if we don’t want to pay $40K out of pocket today? Any experience or advice would really help.

Foreclosure, walk out of the home and default on the mortgage. Anyway they want to go back India, why bother about paying 40k out of pocket. No sympathy on them. Why take loans and buy home, if they don’t have enough skills? Chesedi emo thokkalo admin level system support work and they feel they are already shitzens here. Texas mottam alane undi emo.