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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]290k with $7000/mo mortgage plus private school?

OP, you are over-extended. Also, at 6 years you're still not putting in that much equity per month compared to your interest payment. [/quote]

Yes, we are extremely over extended and I hate it. You're right, at this point most of the mortgage is interest. Hopefully the housing market will continue to get better and our house will appreciate in the next few years.[/quote]

I think I would take the loss now vs. overextending myself for over 20 years because if you or your DH loses your jobs later, it would probably be more of a loss.[/quote]

Sorry, I guess I didn't explain myself clearly. If you take a loss now, it's probably better than some time down the line after you have paid even more interest and lose your job but even if you can do it, I wouldn't want that type of stress for the life of the mortgage which I am assuming is 20+ years. I wears you you, your spouse, you children down. My mortgage is 4556 and we make 300k+. I feel it's still manageable but anymore would lead to too much stress for us.[/quote]

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