Compare Mortgage Quotes

BenandChristy · Joined: 28 Oct 2010 Posts: 1 1.39 Dollars($)

We currently live in Eastern Washington and my wife has taken a new position in North Idaho. We own our home and have never missed a payment. We need to move, but because of the depressed market I am concerned that we will not be able to even break even on our home. I have a realtor working up the house for pricing, but I am confident that we will be $10,000-15,000 short of breaking even after paying expenses - and that is IF the house even sells. It is a great home with lots of appeal and has been well maintained. The realtor already made the comment that if the market was normal, we would be beating people off with a stick. I have been looking at other options and am looking for advice on what to do. Should we walk away (DIL), try a Short Sale? Renting may be an option, but I am not sure I want to go that route. Are there other options for us?

george_laurie · Joined: 28 Oct 2010 Posts: 3 1.67 Dollars($)

Renting it is an obtion, it could preserve your credit if you can't sell it. It will only work ok if you have someone close to manange it for you, to call incase something breaks, to keep an eye on it & the tenants. If you do rent it out, do run credit checks, even having a good rental application will weed out the deadbeats, they just simply wont return it. Check out mrlandlord dot com & their discussion board for great info on being a landlord.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

We need to move for a new job, not sure the house will sell.

Bookmark this page

Helpful References

Calculators

Financial Tools

Our Community

Community Rewards

Followers (252)

455 People like Mortgage

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1