Preparing for the Worst

There is an odd mindset when one surrenders to financial ruin. When the realization came about months ago, Marty Sunshine and I sat down and said to each other, "what do we want to do?" And oddly, the first priority was taking what might be our last vacation for a while. We wanted the kids to have a good memory.

Yes, I know "financial ruin" is temporary. Marty has a job. I have a real estate business. We will survive. We will bounce back. But there will be lawyers involved (there already are). There will be--and this daunts me the most for some reason--creditors calling, asking why the hell we went from 800 FICOs to not paying our bills. And for no earthly reason they can fathom.

We aren't "not paying our bills" exactly. We are choosing not to go into further debt to keep two homes which are in serious disarray from situations out of our control--either because the bank has chosen to give us hell for the past six months or because a tenant did the same. Either way, after a lot of evaluation, prayer and muttering to ourselves, this is the path we have taken.

I can promise you, this isn't a decision we took lightly. The emotional aspect of our choice has taken a toll too. I have went from looking myself in the mirror, knowing I was an upstanding citizen who did what was right and now I have the eerie feeling I can't shake that I am a mere deadbeat. A bum. And--this bothers me the most--someone who doesn't keep their word.
One of the questions LegalOwl (my new legal counsel at Attorney Flip's office) asked me is if Mr. Partner was on board with this. The exact answer is yes and no. His credit will not be harmed by our actions. He understands we are going to do this. And he also sees the reasons why. Essentially, if we wanted to fight for these homes, he would back us and help us hold lemonade stands and garage sales (which is what it would take to find the funds we needed to go forward). If we want to let them go, he will do that too. He is also tired and broke.

There is a saying in the South, "Things can only go up from here." I believe this is true. I don't know what "financial ruin" will look like in this accidental business. If we will keep all but two homes or if we will loose everything. But in the end, I believe letting these two homes go and the potential looming bankruptcy that will probably follow for us is going to be for the best.