Reply to How Would You Start Over With $100k and a House to Sell?

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Reply to "How Would You Start Over With $100k and a House to Sell?"

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[quote=Anonymous]Here's my abbreviated situation:

*30 years old
*Bankruptcy 3 years ago due to +$200k in uncovered medical expenses from an emergency surgery. 
*Haven't worked since surgery. Became a 'stay at home' (1 special needs child) due to circumstance.
*Divorce finalized as of last week. No alimony or child support awarded.
*My mom died last week leaving me $100k and a small rowhouse with a reverse mortgage on the outskirts of Capitol Hill.

What would you do in my situation? What's the smartest move?

I can't take over the loan ($475k) due to my credit and unemployment. The house is in disrepair and would need extensive renovations to get what neighboring homes have gotten lately ($500-700k). It's too much of a money pit to risk the $100k. Speaking of which...

It's enough money to change the trajectory of my life, but I don't know which direction to head. I haven't worked in almost five years. I was 25 then, so I wasn't exactly locked in a career. So much time has passed that I would be starting over as entry-level assuming I could even get a job in the financial industry again with bankruptcy on my record. I'm not foolhardy with cash. I've survived by swing trading $50k from my father's passing two years ago. I've been lucky, but I don't want to push my luck with $100k as a daytrader.

What would you do? [/quote]

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