psycontr Posted January 31 Report Share Posted January 31 Hello, Expats. I would appreciate your thoughts on my best next step to improve my life. Here’s my situation: I’m 41 years old, on an H1B visa (GC EB2), working in a big company in Texas, earning $140K per year. My wife is on an H4 visa, and we have two kids—one in 6th grade (also on H4) and another in kindergarten (a U.S. citizen). We bought a home in 2023 with a 7.5% interest rate, intending to refinance when rates dropped. However, even after two years, rates haven’t improved, and we’re stuck paying a huge amount in interest, taxes, and fees, with very little going toward the principal. We used up all our savings for the purchase and ongoing maintenance, and I’m realizing that our monthly mortgage payments are about $2,500 more than renting in the same area. This situation is driving me crazy. Every month, I’m cashing out stocks, savings, and even taking 401K loans just to cover the mortgage. Our total mortgage balance is $430K, but with taxes, fees, and maintenance, we’re paying $5,300 to $5,500 per month just for home-related expenses. On top of that, we spent $50K–$60K on furniture, upgrades, and interior improvements. Now, I feel financially drained. To make matters worse, our home's value has dropped 5–10% since we bought it. I’d love to downsize and move to a more manageable situation, but selling the house now would leave us with huge debt, which feels overwhelming. Beyond finances, I’m also feeling job insecurity due to the AI revolution, visa uncertainties, and general industry shifts. At home, things are also challenging—my middle schooler is going through a tough phase, and overall stress levels are high. Even though I earn $140K, and my wife contributes $20K–$30K from her side hustle, we still have a negative cash flow every month. We’re thinking ten times before even buying a small toy for our kids—so you can imagine about how tight things are. I’ve also distanced myself from relatives because they assume we’re well-settled, but in reality, I feel like I’m living at the cost of my health, stress, and constant financial pressure. My wife doesn’t have a degree but is trying to improve her skills—though I doubt she’ll be able to contribute significantly more than she does now. If you want to troll me, go ahead—I probably deserve it. But I’d really appreciate your best advice from anyone who has been through a similar situation or has insights on what I should do next. Thank you! 1 Quote Link to comment Share on other sites More sharing options...
psycontr Posted January 31 Author Report Share Posted January 31 @Sonu_Patel mundhu nundi chepthune unnadu. Quote Link to comment Share on other sites More sharing options...
dallas_pullarao Posted January 31 Report Share Posted January 31 On 1/31/2025 at 5:53 PM, psycontr said: Hello, Expats. I would appreciate your thoughts on my best next step to improve my life. Here’s my situation: I’m 41 years old, on an H1B visa (GC EB2), working in a big company in Texas, earning $140K per year. My wife is on an H4 visa, and we have two kids—one in 6th grade (also on H4) and another in kindergarten (a U.S. citizen). We bought a home in 2023 with a 7.5% interest rate, intending to refinance when rates dropped. However, even after two years, rates haven’t improved, and we’re stuck paying a huge amount in interest, taxes, and fees, with very little going toward the principal. We used up all our savings for the purchase and ongoing maintenance, and I’m realizing that our monthly mortgage payments are about $2,500 more than renting in the same area. This situation is driving me crazy. Every month, I’m cashing out stocks, savings, and even taking 401K loans just to cover the mortgage. Our total mortgage balance is $430K, but with taxes, fees, and maintenance, we’re paying $5,300 to $5,500 per month just for home-related expenses. On top of that, we spent $50K–$60K on furniture, upgrades, and interior improvements. Now, I feel financially drained. To make matters worse, our home's value has dropped 5–10% since we bought it. I’d love to downsize and move to a more manageable situation, but selling the house now would leave us with huge debt, which feels overwhelming. Beyond finances, I’m also feeling job insecurity due to the AI revolution, visa uncertainties, and general industry shifts. At home, things are also challenging—my middle schooler is going through a tough phase, and overall stress levels are high. Even though I earn $140K, and my wife contributes $20K–$30K from her side hustle, we still have a negative cash flow every month. We’re thinking ten times before even buying a small toy for our kids—so you can imagine about how tight things are. I’ve also distanced myself from relatives because they assume we’re well-settled, but in reality, I feel like I’m living at the cost of my health, stress, and constant financial pressure. My wife doesn’t have a degree but is trying to improve her skills—though I doubt she’ll be able to contribute significantly more than she does now. If you want to troll me, go ahead—I probably deserve it. But I’d really appreciate your best advice from anyone who has been through a similar situation or has insights on what I should do next. Thank you! Expand rent ki evuu anna rooms untey atleast kocham anna cover avutadhi Quote Link to comment Share on other sites More sharing options...
psycontr Posted January 31 Author Report Share Posted January 31 On 1/31/2025 at 5:59 PM, dallas_pullarao said: rent ki evuu anna rooms untey atleast kocham anna cover avutadhi Expand Not mine post from expats group Quote Link to comment Share on other sites More sharing options...
Sonu_Patel Posted February 2 Report Share Posted February 2 On 1/31/2025 at 5:53 PM, psycontr said: Hello, Expats. I would appreciate your thoughts on my best next step to improve my life. Here’s my situation: I’m 41 years old, on an H1B visa (GC EB2), working in a big company in Texas, earning $140K per year. My wife is on an H4 visa, and we have two kids—one in 6th grade (also on H4) and another in kindergarten (a U.S. citizen). We bought a home in 2023 with a 7.5% interest rate, intending to refinance when rates dropped. However, even after two years, rates haven’t improved, and we’re stuck paying a huge amount in interest, taxes, and fees, with very little going toward the principal. We used up all our savings for the purchase and ongoing maintenance, and I’m realizing that our monthly mortgage payments are about $2,500 more than renting in the same area. This situation is driving me crazy. Every month, I’m cashing out stocks, savings, and even taking 401K loans just to cover the mortgage. Our total mortgage balance is $430K, but with taxes, fees, and maintenance, we’re paying $5,300 to $5,500 per month just for home-related expenses. On top of that, we spent $50K–$60K on furniture, upgrades, and interior improvements. Now, I feel financially drained. To make matters worse, our home's value has dropped 5–10% since we bought it. I’d love to downsize and move to a more manageable situation, but selling the house now would leave us with huge debt, which feels overwhelming. Beyond finances, I’m also feeling job insecurity due to the AI revolution, visa uncertainties, and general industry shifts. At home, things are also challenging—my middle schooler is going through a tough phase, and overall stress levels are high. Even though I earn $140K, and my wife contributes $20K–$30K from her side hustle, we still have a negative cash flow every month. We’re thinking ten times before even buying a small toy for our kids—so you can imagine about how tight things are. I’ve also distanced myself from relatives because they assume we’re well-settled, but in reality, I feel like I’m living at the cost of my health, stress, and constant financial pressure. My wife doesn’t have a degree but is trying to improve her skills—though I doubt she’ll be able to contribute significantly more than she does now. If you want to troll me, go ahead—I probably deserve it. But I’d really appreciate your best advice from anyone who has been through a similar situation or has insights on what I should do next. Thank you! Expand our desi's lacking financial discipline anna.. most of the pay check.. mortgage payment kadithey ittagey untadi.. yavvaram. Quote Link to comment Share on other sites More sharing options...
kevinUsa Posted February 2 Report Share Posted February 2 On 1/31/2025 at 5:53 PM, psycontr said: Hello, Expats. I would appreciate your thoughts on my best next step to improve my life. Here’s my situation: I’m 41 years old, on an H1B visa (GC EB2), working in a big company in Texas, earning $140K per year. My wife is on an H4 visa, and we have two kids—one in 6th grade (also on H4) and another in kindergarten (a U.S. citizen). We bought a home in 2023 with a 7.5% interest rate, intending to refinance when rates dropped. However, even after two years, rates haven’t improved, and we’re stuck paying a huge amount in interest, taxes, and fees, with very little going toward the principal. We used up all our savings for the purchase and ongoing maintenance, and I’m realizing that our monthly mortgage payments are about $2,500 more than renting in the same area. This situation is driving me crazy. Every month, I’m cashing out stocks, savings, and even taking 401K loans just to cover the mortgage. Our total mortgage balance is $430K, but with taxes, fees, and maintenance, we’re paying $5,300 to $5,500 per month just for home-related expenses. On top of that, we spent $50K–$60K on furniture, upgrades, and interior improvements. Now, I feel financially drained. To make matters worse, our home's value has dropped 5–10% since we bought it. I’d love to downsize and move to a more manageable situation, but selling the house now would leave us with huge debt, which feels overwhelming. Beyond finances, I’m also feeling job insecurity due to the AI revolution, visa uncertainties, and general industry shifts. At home, things are also challenging—my middle schooler is going through a tough phase, and overall stress levels are high. Even though I earn $140K, and my wife contributes $20K–$30K from her side hustle, we still have a negative cash flow every month. We’re thinking ten times before even buying a small toy for our kids—so you can imagine about how tight things are. I’ve also distanced myself from relatives because they assume we’re well-settled, but in reality, I feel like I’m living at the cost of my health, stress, and constant financial pressure. My wife doesn’t have a degree but is trying to improve her skills—though I doubt she’ll be able to contribute significantly more than she does now. If you want to troll me, go ahead—I probably deserve it. But I’d really appreciate your best advice from anyone who has been through a similar situation or has insights on what I should do next. Thank you! Expand Well, No one put a gun on his head to buy that house at that High apr Plus No one has asked him to spend 50-60k for furniture House 🏠 and 🚗 🚗 car are two basic necessities in USA Mostly we are good with RAV4 if we have kids And no kids Camry or corolla kani mana mAnam velli vadu merc c class konnadu so nenu G class konta or bmw x5 konta. The list goes on. Apart from that. Coming to house mana avasram 2-3 bed / 2b For 99% families ki set kani vadu konnadu ani Nenu 4k sft house konta Mana avasaralu endi ani manaku telvadu adi telusukubte chalu 1 Quote Link to comment Share on other sites More sharing options...
elev Posted February 2 Report Share Posted February 2 Anduke mana pedallu chaptharu entha tinalno anthe tinalli. Don’t go for show off Quote Link to comment Share on other sites More sharing options...
pandugadu999 Posted February 3 Report Share Posted February 3 Ltt Quote Link to comment Share on other sites More sharing options...
Joker_007 Posted February 3 Report Share Posted February 3 On 1/31/2025 at 5:53 PM, psycontr said: Hello, Expats. I would appreciate your thoughts on my best next step to improve my life. Here’s my situation: I’m 41 years old, on an H1B visa (GC EB2), working in a big company in Texas, earning $140K per year. My wife is on an H4 visa, and we have two kids—one in 6th grade (also on H4) and another in kindergarten (a U.S. citizen). We bought a home in 2023 with a 7.5% interest rate, intending to refinance when rates dropped. However, even after two years, rates haven’t improved, and we’re stuck paying a huge amount in interest, taxes, and fees, with very little going toward the principal. We used up all our savings for the purchase and ongoing maintenance, and I’m realizing that our monthly mortgage payments are about $2,500 more than renting in the same area. This situation is driving me crazy. Every month, I’m cashing out stocks, savings, and even taking 401K loans just to cover the mortgage. Our total mortgage balance is $430K, but with taxes, fees, and maintenance, we’re paying $5,300 to $5,500 per month just for home-related expenses. On top of that, we spent $50K–$60K on furniture, upgrades, and interior improvements. Now, I feel financially drained. To make matters worse, our home's value has dropped 5–10% since we bought it. I’d love to downsize and move to a more manageable situation, but selling the house now would leave us with huge debt, which feels overwhelming. Beyond finances, I’m also feeling job insecurity due to the AI revolution, visa uncertainties, and general industry shifts. At home, things are also challenging—my middle schooler is going through a tough phase, and overall stress levels are high. Even though I earn $140K, and my wife contributes $20K–$30K from her side hustle, we still have a negative cash flow every month. We’re thinking ten times before even buying a small toy for our kids—so you can imagine about how tight things are. I’ve also distanced myself from relatives because they assume we’re well-settled, but in reality, I feel like I’m living at the cost of my health, stress, and constant financial pressure. My wife doesn’t have a degree but is trying to improve her skills—though I doubt she’ll be able to contribute significantly more than she does now. If you want to troll me, go ahead—I probably deserve it. But I’d really appreciate your best advice from anyone who has been through a similar situation or has insights on what I should do next. Thank you! Expand Tells more about the importance of Planning and not to buy home based on what others are buying... Quote Link to comment Share on other sites More sharing options...
sreeeeeeee Posted February 3 Report Share Posted February 3 mistakes everyone makes.Dont worry. Check if you can sell with a little loss and come out. Quote Link to comment Share on other sites More sharing options...
ManOffSteel Posted February 3 Report Share Posted February 3 I see a lot of people in Dallaspuram ending up in similar situation if the situation stays like this.. I saw OPTs and first year H1s rushing to buy homes like there is no tomorrow.. Quote Link to comment Share on other sites More sharing options...
mettastar Posted February 3 Report Share Posted February 3 Better to sell. Quote Link to comment Share on other sites More sharing options...
mettastar Posted February 3 Report Share Posted February 3 Ammesthe monthly payments drop from 5500 to 2500.. immediate $3k savings per month .. payoff any loan on home with those savings Quote Link to comment Share on other sites More sharing options...
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