Advise on Timing of Out Of State Job Search Near or After BK13 Discharge In 2022

[Barbisi]

I have questions and need advise about how to co-ordinate my husband's job search and selling of the house with the closing of the BK13 after Jan./Feb.2022.
When should he start looking for a job -six months prior? How to negotiate a better relo package and more time (if he lands a great position pre-discharge?)

The house is going to possibly need a new furnace (We have a 1992 model with rebuilt parts which we were recently warned could "go" at any time and due to their obsolete nature are not replaceable.)
Also, we suspect the roof needs to be replaced because of wide spread Colorado hail damage this last year. (We never put in a claim because our deductible is $1000 and the solar panel lease requires we pay $500 to have the panels temporarily removed and reattached to the roof, so we are not sure the extent of the damage ,if any.)
The swamp cooler was patched this last spring for $500 and we were told then it should be replaced ( more $$$)
The sprinklers are also in some disrepair but mostly functional.
The p traps and faucets in three of the four bathrooms need to be replaced. Otherwise the bathrooms are functional but dated.
The kitchen sink and faucet are badly scuffed and scratched. (The kitchen is 45 years old but is still nice and gets compliments so we want to avoid a major update there if possible.)
The stove is a basic Amana , The microwave is basic Amana (1000w) and the dishwasher is basic Amana (all installed by the sellers in 2016.)
The upstairs bath drywall and laminate floor need to be replaced, the wall to wall carpet is damaged in spots. Etc.
We don't want to have to stay here for years paying cash to repair all these things so we are willing to lose some money (i.e. sell at a lower price) but still need to come out with some thing unlike the accursed first house which drove us into BK13 and caused us to have a 401k loan until 2029 for the down payment . (We hope to pay off the 401K loan from the house proceeds if possible! )
We could also rent it if we aren't allowed to sell it but that keeps us tied to Colorado and eventually we will have to come back to fix it up and sell it anyway.
Any thoughts on getting a job and getting out from under this mortgage and solar panel lease (which runs until 2033)?

[justbroke]

I have questions and need advise about how to co-ordinate my husband's job search and selling of the house with the closing of the BK13 after Jan./Feb.2022.
When should he start looking for a job -six months prior? How to negotiate a better relo package and more time (if he lands a great position pre-discharge?)

You could, but selling the house would require permission from the court. If he were to find a job that has an "equitable" relocation package, that may work. Some of those equitable packages will "purchase" the home within 30 days of it not selling. But, I haven't personally seen many companies offering any equitable relocation packages these days.

The house is going to possibly need a new furnace (We have a 1992 model with rebuilt parts which we were recently warned could "go" at any time and due to their obsolete nature are not replaceable.)

I call this as my "repair and stay" or "ignore and go" strategy. I chose the latter. I just don't like older homes any longer (I consider a 2003 home "old.").

We don't want to have to stay here for years paying cash to repair all these things so we are willing to lose some money (i.e. sell at a lower price) but still need to come out with some thing unlike the accursed first house which drove us into BK13 and caused us to have a 401k loan until 2029 for the down payment . (We hope to pay off the 401K loan from the house proceeds if possible! ) We could also rent it if we aren't allowed to sell it but that keeps us tied to Colorado and eventually we will have to come back to fix it up and sell it anyway.

Selling can be difficult. Again, look to equitable relocation packages that include a purchase guarantee of the old home. I don't know how much equity you have or if you just want to dump and run.

Any thoughts on getting a job and getting out from under this mortgage and solar panel lease (which runs until 2033)?

I have no clue. It's too subjective and fact-specific. The only way to tell is to put it on the market and see what a willing purchaser would pay.

[Barbisi]

Thanks, jb!
Your insights as always are priceless! Yes, I do remember R. offered something like that each time we relocated. And yes, I believe such offers are now mostly a thing of the past.
We will have positive equity but it is near impossible to predict what houses here will be worth in two years time. If there is another major recession (which I fear is imminent because of the fluid political landscape), we may have a house under water. That would be a nightmare! (our only recourse would be renting it, short sale or foreclosure!)
The house is starting to need some important repairs, but it is not yet a real fixer upper (that shack that drove us into this Bk13 needed a complete wall to wall update and every major system had to be replaced. No investor would buy it because it was about $30k overpriced and we, being the novice buyers we were, thought it wouldn't cost so much to make it more than livable! Worst mistake ever in my life!!!!! ) Our current house is better designed, still more appealing and in far better shape than that shabby hovel ever was! But, I fear the furnace will not make it to our projected selling time frame, and the swamp cooler may break down again before 2022. The garbage disposal is on the brink but that shouldn't cost too much, and we are hoping to replace it when the sink and faucet are redone. Nearly every one loves the blue corian countertops. The wood cabinets while original are high quality and still in good shape. The laminate floor is still attractive. (By contrast, the 1963 cabinets had dead mice in traps and were badly scratched inside by the dead vermin!(We only discovered this when we spent $25k totally gutting the 1963 ( never updated!) kitchen.
The leased solar panels are a major handicap to a successful sale, so that may force us to accept far less than we would like. We know we have been rooked here renting (that is a whole incredible story in itself!) buying and selling already, so we realistically can't expect to come out of this final sale "winners". We know we would be lucky to clear $40-$50K from the sale.
And yes, I agree with you about older houses! This 1975 house has a far more open concept layout that that the cramped 1963 fixer upper that doomed us to a five year BK13, but it is still too "old" and in a few years will need major updating through out! If we ever buy another house, it will be a far younger big ranch (with out upper stairs). But that is a big IF for me, because I am so burned out and embittered by home ownership, that I doubt I will want to assume the financial burden of another house again! LOL

[justbroke]

I don't necessarily hate older homes, but they certainly do come with their problems. My last home was a 2003 and in 2017 things started to fail and need replacement. I wasn't use to major issues since all my homes had been new builds and I enjoyed the benefits of builder warranties and later the home warranties purchased by the builder.

There are some older homes that I would love because I love hardwood floors and a more Victorian look. I love fireplaces (even in Florida). I love open kitchens, pantries and attics.

I tried to do the renting while living in another State and the difficulty is finding the right tenant. Or just hire a management company and pay them to manage the rental. I also looked at Lease-Purchase options but everyone undercut the price. It was a challenging market in 2010.

[Ower]

If you are fairly certain your location is making you sick and miserable (and it sounds like it legit is), then I think I would consider voluntarily dismissing the chapter 13 or converting to a 7 and letting the house and the solar panels go. Then you're free to move/job search now. Life is too short to be miserable for two long years! Your health is important!

[Barbisi]

Thanks to you both!
jb, yes hardwood floors can be nice. In fact, the Shack had them and the floors (aside from the kitchen and main level bath) were the only thing we didn't have to gut when we did the whole house renovations that drove us into BK13.
Also, finding the right tenants would be a tremendous hassle but we if can't sell the house what else could we do to avoid a second BK13? (see below for my reasoning.)
Ower, I don't know the law but I suspect we would still be on the hook for the solar panels even we allowed the house to foreclose. So we would be forced into a second bk13 after the first was completed. Kind of defeats the purpose of the first BK13 , if the whole purpose is to save property, right?
Thank you though, Ower for recognizing how important health is and I appreciate that. Most of these Colorado denizens think a combo of CBD and mountain air is all you need to be healthy and happy ,disregarding the blazing sun, overwhelming dryness and deathly altitude and endless temperature fluctuations (this week alone from 70 down to 15 and back up to 50 -not normal for anywhere but here!)
Yes, I hate it here and even when this BK13 ends, I will still be chronically unhealthy and unhappy!
My only hope for a better life lies elsewhere - even though Coloradeans don't understand ,there is a big beautiful world far from here with mild weather, and vast opportunities !

[bcohen]

The big advantage of owning an older home is no HOA reaching into your pocket every month, telling you what you can and can't do with the home that you pay so much money to own and live in. Sure, you will have much higher monthly utility costs, higher maintenance and repair costs (compared to a newer home), but I'd argue it's worth every penny!

[Barbisi]

bcohen, I'm sure we can find another home down the road with out having to get trapped in a HOA! We simply chose a shabby investor home we couldn't afford to fix up and that is why I'm stuck in Colorado in a BK13 until 2022. I can't speak for you and your sweat equity abilities but my husband and I are not DIY material and we will always need a newer home in decent shape -that is a huge lesson we learned from this Colorado fiasco. Buying a nearly 60 year old run down fixer-upper means BK13 for us. (again! )

[justbroke]

HOAs in Florida aren't the real issue when it comes to a money grab. It's the dreaded CDD -- Community Development District. I lived in one of the first few Florida CDDs and they are all powerful. This comes from the fact that they are quasi-governmental with "special taxing authority" which means... yes... they get to tax you as part of property taxes. Most of them in Florida seem to charge around $2,200 a year in "additional" property tax through the first 10-15 years of the development. I didn't stay long enough to see if the CDD ever ended.

For those that don't know why CDDs were created by Florida in 1984 and granted this extraordinary taxing authority, it was to pay for the infrastructure by floating bonds. This allowed a developer, for a master planned community (MPUD), to float municipal bonds to pay for it, while taxing the homeowners for all the infrastructure. Those bonds pay for the roads, sewer, community features, right-of-ways, and other features that would normally frighten a town/county.

[Barbisi]

In finality about HOAs, I think I would have to be pretty desperate to buy a HOA home - I may be wrong , but I believe in nearly all states (and overseas properties) older (before circa 2000) communities still exist that don't require buying into a "lifetime" HOA commitment. (Much like the solar panel lease on our current house which runs until 2033 or until we can sell the lease along with the house!)
I never cease to be amazed by jb's never ending fountain of legal knowledge - you missed your calling - you should have been a lawyer. jb! Is it too late for you to pass the bar and start practicing for real?

[justbroke]

Barbisi it's just life's lessons. I haven't seen it all... but it feels like it!