how do I sell my house to relocate pay off my existing mortage and still have enough money for a downpayment .
924239
Consider this alternative which is a three step procedure.\nIt is absolutely normal for a couple to sell one house and consider this option.\nStep 1  : Sell the house. Get whatever you can after you've paid off your mortgage. If you're thinking there isn't going to be any left for keeps, don't sweat it. Just settle this 'giant problem' first.\n\nStep 2 : This is the simpler part. Since it is apparent that it is generally easier to buy than to sell, you might consider lease-purchase option. Which means, when you move to your new location, it may not be a purchase straight away. Later if you decide this new home is really for you, then you can exercise your option to purchase by entering into a Sales & Purchase Agreement.\n\nStep 3 : If you decide NOT to buy, then your lease, maybe 5 years can be made into a very comfortable setting, the money which most people use up paying for mortgage facilities can be channeled into having all the gadgets you require to enjoy a  refined  quality of  life.\n\nOptional Step 4 : While you're enjoying Step 3, Save your money within these 5 years and invest in a smaller house, not for you stay in yourself, but to rent it and sell it for profits. Try not to take a loan. Invest in smaller a property because you can re-sell it faster. The idea is to have best of both worlds: one way you refine your lifestyle as in Step 3, and the other to purchase/invest into something which will snowball in value, without having to pay for mortgage services that eat into your savings. \n\nThe above is is truly the easy way, taken into consideration  all the mistakes I have made in properties and, learning from them.
89254
call a broker or resale agency. they are usually connected through loan agencies.
220134
List it yourself and try to sell it that way. If that fails you can always seek the assist of a realtor.
1187946
You could try to get the owners of the property to sell to you on a lease option for say 2 years, and lets say that you pay 500 a month, with 500 down, then you would have control of the property and you could do your fix-ups or rent it out and collect the rent.( Be sure and include that in the offer that you can rent the property out) You should be able to get a 2nd mortgage to do your rehabs, (most banks would want to be in 1st position and the owner would hold the 2nd mortgage) If you have control of the property it makes thing alot easier, check out a mortgage broker they can usually find something. I currently use GMAC mortgage and they found a place that we only need 5% down on investment property. Good luck!
490334
how come you have no equity?\nyou bought it for 0% down? then get the new house with 0 down.\nyou refinanced and lost all the money gambling? you should still have some equity, no?\nif you don't have savings and don't qualify for the right loan, then stay at your current home, budget yourself so you can save and get a new home at a later point in your life.\ndon't live beyond your means, don't be 'house poor' (people who buy expensive house and  burn 90% of their income on the mortgage).
1140204
depends on your lifestyle, you like to move around, rent , if you are looking for something set then make the jump on something while the market is down then renovate and sell. or stay which ever. apprasials are going up for taxes, that is something to think about talk to a realitor, but they get about 6% of sale price and dont think about owner finance its not good for that. good luck
1153430
You need to first call your mortgage company and let them know that you can no longer afford to make payments.  Speak with someone in the credit counseling department.  They may be able to negoitiate a payoff with you that is reasonable.  Note you will not receive any proceeds from the sale all proceeds will go directly to your mortgage company.
663957
YES YOU CAN BUT YOU WILL HAVE TO HAVE A DOWN PAYMENT PLEASE EMAIL ME WITH DETAILS AT JOHNG@OLDMERCHANTS.COM I COVER MOST IF THE US (PA TOO)I AM A SR MANGER AT A MORTGAGE BANK.
797301
if you have lived in the house for 2 of the last 5 years the tax on anything less than $250,000 profit is ZERO. ( $500,000 for a couple)\nif your gain is more than that or you do not qualify, then they charge about 5% on the gain (profit) for poor people and 10% or 15% for others.\nif you have not lived in the house two years, but maybe 6 mo or 1 year, you may qualify for the maximum exclusion rule if there is a good reason for selling and moving. ask tax man to explain it to you.\n maybe they will give you a percentage of the $250,000  exemption pro-rated, say $125,000 for 1 year etc.\n\n if the house is a rental, you can do a 1031 and use the money from it to buy another house. ( then have zero tax to pay now) then after the sale. you can get a loan on the new house to pull out your equity.( not the other way around) check with tax guy for advice. the tax is seferred until you sell without rebuying. or it is waived if you die and pass the house on. that is the best way.
405976
What you may want to do is sell the 1/2 acre and use the funds for upgrading the rest of your property. If your property is worth that much I would sell it myself and keep the commission you would waste on using a Realtor. Use only the cash you need at that moment and split the rest into 2 to 4 pieces and put the cash in separate 6 and 12 month CD's That way as you need cash you should have CD's mature and you can at that time decide to roll it over or cash it out if you need it. WHY BE A SUCKER TO THE BANKING INDUSTRY.
746921
look for a lender who will underwrite a loan package called \nstated income.  even if you have a renter, get a one year lease agreement signed.  don't know if that will help you.  alot of this depends on what your down payment is- the more you put down will offset the monthly mortgage amount.
353554
If you have sufficient equity in your existing home, you may be able to use that as collatoral against a loan to get you started, rather than actually having to sell the home to "release equity"\n\nStart talking to lenders.  And make sure your FICO scores are exceptional
590594
I would attempt to just borrow the money to get back to current from a local lender.  Leave the mortgage where it is.
436702
Sell your truck and use the money to pay your house loan.\n\nI suggest you to sell everything you own (Including your bed) and pay your house loan before you are kick out of your house and you end up homeless.\n\nPlease let me know how much debt exactly do you have in your house loan and how much is your house worth so I can find you a buyer for your house before your house becomes property of the bank.
1125995
Try a British bank.  I have heard that they lend money for properties in foreign countries.  Be sure your title to the house is clean as well.
1033851
Chapter 13 is no picnic either. They will garnish your wages and leave you pratically nothing to live on. Do you have a relative or friend that can buy the house from you for awhile until you can get back on your feet? Or perhaps even selling it outright would be better than losing it. How much equity do you have in the home? Mortgage lenders will refinance up to 65% of the home's value to bail you out of foreclosure. If that isn't enough, perhaps you have access to a retirement fund (401k, IRA, etc) and you can bring some out of pocket.
396013
There are a number of questions that would have to be answered before anyone could really give you advice on this.\n\nAre you definitely moving in 2 years?  When you move, will you sell the condo or rent it out.  Do you have a systematic savings plan right now?  Is your interest rate you're paying now fixed or variable?\n\nIf you are currently saving toward a down payment and are sure you'll have enough when the time comes to move, then it's fine to pay extra toward your 2nd mortgage.  Also, if your moving in 2 years is uncertain, then I would think about paying extra against the mortgage. \n\nHowever, if you are not currently saving toward a down payment, or if you are but you're not sure if you'll have enough, then I would contribute toward that savings instead of extra against the mortgage.  You want to make sure you have saved enough because you have no idea what the real estate market or interest rates will be like in 2 years.  The condo market may crash again like it did in the 80's.  It's always better to have the cash set aside.  It gives you more options down the road.