My girlfriend and I have had purchased our first house.
We had $25,000 in savings and would be able to pay our mortgage with our salaries, and we did not expect to need emergency money so soon. We both have students loans so we were planning to pay those off over time, so that our only major monthly expense was the mortgage.
A few months after buying the house, we had a faulty structure in our backyard retaining wall after a tree had fallen on it during a storm. The wall appeared it was in danger of falling onto the neighboring house below us.
We contacted an Engineer to create a plan in order for us to fix the wall. According to the Engineer, our only option was to essentially dismantle the entire wall and rebuild it. The cost to remove and build back the entire wall, including engineering and permit fees, was about $72,000. We had asked multiple contractors and this was our most affordable option.
We had to use our savings and then take out a loan on the remaining $47,000.
We now have the interest of the construction loan and student loans on top of the mortgage to pay monthly with no savings.
I picked up a second job driving for Uber. Two weeks later I was notified that my background check by Uber showed that I had 2 points on my license from 3 years ago, and therefore, I was no longer allowed to work for Uber.
We’ve been doing our best saving on living costs but we are not making a dent.
The only option I can see in the foreseeable future is selling our home, but the value is essentially the same as when we bought it, even though we spent $72,000 to fix a retaining wall.
We would appreciate kindly if you are able to send any money to help us eliminate the construction loan so that we can move forward without having to sell our home.
Our goal is to cut it down as much as possible, otherwise we are in danger of missing either the mortgage payment or construction loan payment.
Any donation at all helps, even if it is $10!
The paypal account is listed below. Thank you for reading and God bless!
paypal.me/els2419