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Thanks Penny. It helps to hear that other people have been in the same situation as sometimes it feels like it was only us! I guess your self-esteem goes down too you had all this great plans in the beginning and then you have to tell people that you've failed. For me telling people part...

Well.. we've just listed it but the longer we stay the more we get in debt so we are giving it 2 months to sell and then shut the doors. We'll loose lease bond which was $26K in cash (they wouldn't accept bank guarantee) plus the purchase price.

Thanks Propertunity, Despite what I've said before that's how I feel too. I had that crazy idea (of selling PPOR) and put it out to you guys to critique.. Just to hear opinions of other people but I do I understand that no-one can really tell us what to do. :) Hopefully in the next 2-3 weeks...

It is a 3 bedroom brick highset with 2 bathroooms, rumpus and a pool. Old kitchen/bathroom but a reasonably nice area. So, yes, it may be appealing to first home buyers. We do want to spruce it up a bit (need to fix the fence on one side) but obviously the finances are tight.. If we do decide to...

Oh, we don't actually owe that much to creditors to go into bankrupcy and we endevour to catch up in the next month or so (at least paying suppliers). I have my own job separate to the business that pays for mortgage and bills. It would be hard to meet the repayments on credit cards/personal...

I've been a reader of this forum for over a year but only now I really need an advice. Like many people these days we are in a hard financial situation and are trying to hold on to what we have. 3 investment properties in NZ are now worth less that we paid for them which is fine as we bought...