Why didn't you just sell the house and purchase a cheaper property you can actually afford?
My rent is $440 a month, PLEASE PLEASE do show me a mortage where my interest rates are less than that.. any house near me is +200k....
The house when I bought it was 179... Me and a freind bought it with the plan to fix it up and sell it in 5 years, we stuck to the plan added a 2nd bath. Sold for 245.
Now I rent at $440 a month.. even with a mortage of $800 + $220 a month property tax that's $1020. That $220 is a total waste. So $220 vs 800.... now if I save $680 every month instead of paying it into a house over 20 years that's $163,200.00
Now to actually take out a loan of $163,200.00 would cost me $1,103.00 a month for 20 years.
It would literally cost me double to own a house.
This also does not include realstate fees, lawyer fees, land transfer tax...