---

New House Needed

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
kristinlegato Joined: 12 Mar 2011 Posts: 1 1.32 Dollars($)	Posted: Sat Mar 12, 2011 8:05 pm    Post subject: New House Needed Like 0 Dislike 0 My husband and I really want a new house since our family is growing and our existing house is too small! Problem -- We bought our house 7 years ago for 160K and still owe about 140K on it. The house across the street is going for 70K. We do not have enough CASH to bring to the table if we were to sell our house for so cheap. We want to buy a bigger house in the 300K range. How do we get out of our current loan with our paying a cash payment. Help? We have no idea what we are doing!!
dipaligopale Joined: 25 May 2010 Posts: 790 22.70 Dollars($)	Posted: Sat Mar 12, 2011 10:49 pm    Post subject: Like 0 Dislike 0 Hi kristinlegato Welcome to Mortgage fit, In short analysis of your problem,what I can say is...............you should try to search for another property which is big enough to accomodate your growing family and do not outrightly purchase it.Firstly rent it for some time.till that time you can rent out your existing home to someone else.You will end up with only few extra dollars may be (500-1k) but you do not have to stretch yourself for your savings as it will be required for your growing family. Once the market situation becomes really good you can sell off your property and try to purchase a new home ,by that time you can try to build your credit score. You haven't provided any information related to your credit score and employment history so the answer provided may not be perfectly applicable. Feel free to ask any further query if you have.... DIPA _________________ 1.The best of intentions must still have directions !--Unknown author 2.When I hear somebody sigh, "Life is hard," I am always tempted to ask, "Compared to what?" - Sydney J. Harris

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0