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upside down in michigan

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hmmm Guest	Posted: Tue Oct 05, 2010 4:29 pm    Post subject: upside down in michigan Like 0 Dislike 0 I want to buy a house, of which I can afford (due to the current economical conditions) so now… what are my options for getting out of the house that I live in now? I’m upside down 35k and can’t afford rolling that much $ into a new mortgage. What do I do? Hmmm…
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Oct 05, 2010 8:39 pm    Post subject: Like 0 Dislike 0 Hi Guest, You're in a tough situation. You will have to list the property in the market and sell it off. This will help you in getting rid of the property. However, once you sell off the property, you'll have to pay off the mortgage in full. Once this process is complete, you can apply for a mortgage to buy a new property. Getting a new property will depend upon your income and your credit scores. If you satisfy the required criteria of the lender, you'll be able to get a mortgage. Thanks

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