The answer? We don’t know. We don’t know you nor do we know your specific situation. Ultimately, you will have to think about how you want your future to be and then make the best decision for you… and for your family.
However, we may be able to impart some basic analogy logic that we’ve shared with many other clients.
Here’s the analogy:
Would you stay in a relationship with a man/woman who, without remorse, physically or emotionally abused you? Would you stay, be abused, and struggle—day in and day out, month after month—just because a well-meaning parent, friend, or advisor told you that was the “right thing” to do?
Ugh, maybe… but what if you KNEW that person really didn’t care about you at all and never would? Would you stay then?
Hopefully… not. For most of us, that wouldn’t be a really a tough decision, right? We would hope your future happiness and safety would be more important to you than that.
So, as much as it may be relevant to your situation, and assuming that you realize you’re in an actual financial relationship right now, here’s a simple question:
Do you think your mortgage bank really cares what happens to you?
Is continuing to pay thousands of dollars every month toward something that’s worth 30-50% LESS than what it’s worth setting you (and your family) up for a bright financial future?
What is trying to desperately grasp to hold on to something (that doesn’t make any financial sense to keep) doing to your well-being and peace of mind?
If you wouldn’t stay in a personal relationship where some-ONE is physically abusing you… WHY would you ever stay in a business relationship where some-THING is physically, emotionally, or financially abusing you?
Wealthy people wouldn’t. No way. We understand the difference between making moral decisions and financial decisions. The choice that you’re attempting to make is a financial one, in other words, “what will allow me (us) to have the greatest chance of financial success and opportunity in the future?” DO NOT fall into the trap of making a financial decision into an emotional or moral one—that’s how collection companies take your money and keep you suffering in destructive financial relationships.
If you’ve done all that you can and it’s not “working out” the way you’d hoped it would, it’s probably because life is telling you that there’s something better coming.
Should we stay in this house… or should we go?
Well, if you know the risks, the benefits, and the possible outcomes of any decision—and you’re willing to accept them—then making the choice to stay in your house or let go and move on to a potentially brighter future might be a lot easier to make than you think.