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livelaugh123
LIF Zygote
Member since 1/13 5 total posts
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what are my options?
OK so my DH was offered a job in SC and we would LOVE to take it. The problem is we own our home here in NY and well we just talked to our realitor and she said to price our home to sell we would have to price it for almost 20,000 less then we owe on it now... So what are our options to get out of this.. We dont have 20,000 to cover the difference and then theres still closings cost.. Im so bummed right now i feel like we are drowning here and this is our chance to leave ny but i dont see how its going to happen with this NY morgage over our heads 
Any advice please????
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Posted 1/19/13 12:25 PM  |
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DumpsterBaby
My compass when I'm lost
Member since 5/11 2210 total posts
Name:
My anchor when I get tossed
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what are my options?
Can you move to SC and rent it out? Maybe rent in SC if you can't swing another purchase?
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| Posted 1/19/13 12:48 PM |
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Re: what are my options?
I agree with the PP.
I also think there is a fairly regular poster who was in the similar predicament and was able to rent out her home here on LI.
I also would never buy in a new area right away either, so I think this offers you an out too in the event that you guys move and it's not all it's cracked up to be.
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| Posted 1/19/13 1:09 PM |
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livelaugh123
LIF Zygote
Member since 1/13 5 total posts
Name:
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Re: what are my options?
Posted by MorningCuppaCoffee
I agree with the PP.
I also think there is a fairly regular poster who was in the similar predicament and was able to rent out her home here on LI.
I also would never buy in a new area right away either, so I think this offers you an out too in the event that you guys move and it's not all it's cracked up to be.
thanks guys! I dont think renting would be a good option for us mainly because I dont trust ppl to take care of the home like they should lol. Also it scares me to think what if they dont pay the rent how do i pay the morgage then ya know.. With us then leaving in another state i would have to hve someone keep a eye out to make sure the ppl living there are taking care of the home.. i dont know just seems lilke alot..
We wouldnt be buying anything right away either. I told my dh we would have to rent for awhile and find a area that makes us both happy..
Thanks again, i just think we need to hit the lotto.. :)
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| Posted 1/19/13 1:36 PM |
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Re: what are my options?
I am pretty sure the poster who talked about this recently had mentioned using a service to manage and check up on their home during their absence.
I want say this was in the past month so you may be able to find it doing a search. Hopefully whoever it was will see this and chime in.
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| Posted 1/19/13 1:53 PM |
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BargainMama
LIF Adult
Member since 5/09 15657 total posts
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what are my options?
You could try to get the bank to approve you for a short sale, but that's typically difficult, and most often approved for those that are delinquent.
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| Posted 1/19/13 8:44 PM |
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MommaG
Yay Spring!
Member since 5/05 5133 total posts
Name:
Gloria
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what are my options?
You could hire a property manager for a small fee if you decide to rent. They will repair, check up on the tenants, collect rent - anything like that.
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| Posted 1/19/13 11:11 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: what are my options?
Will the company buy and then sell your house for you? I know DH's company has this policy if it does not sell within a certain time frame...
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| Posted 1/20/13 8:32 AM |
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