Financing in Dallas>Question Details

Natalia Sout…, Home Buyer in Dallas, TX

Own a home in Florida. Really want to but a home in Dallas. What are my options for keeping my good credit to buy a home?

Asked by Natalia Southerland, Dallas, TX Sun Mar 11, 2012

I can easily sell my house , short sale there , but then my credit would be ruined , forcing me to waste dollars on rent her

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Rudy R. McDowell’s answer
Depending on the current note holder, if your move is job, health, or family related, they could allow you to short sale your home w/o missing any payments or reporting it as a short sale. By doing so, your good credit is kept intact and your won't have to wait 2-5 years before being eligble for a new mortgage. So long as you can qualify with both payments, you could also retain your current home to sale later and lease/rent out in the interim. Hope this helps.
0 votes Thank Flag Link Thu Mar 15, 2012
I might be interested in showing you how to maximise your florida home without a short sale.
0 votes Thank Flag Link Thu Mar 15, 2012
It will partially depend on if you have been on time with all of your current mortgage payments, as well as your income situation when you move to Texas. Are you planning to work in the same industry? Do you plan on moving here BECAUSE of your job? Since you will not be selling your old home, where do you plan to get your downpayment and how much do you plan to put down? These are all important aspects to consider, and if I were advising my own mother I would tell her to get pre-approved prior to even coming to Texas to look at a home since this will dictate the terms for which you are approved and thus the neighborhoods you want to include in your search. If you would like to talk further, you can give me a call at 972-854-3270 and I can do a free assessment for you.
Kelly Fest
0 votes Thank Flag Link Sun Mar 11, 2012
One option might be to rent your current home.
We'll need to look at your entire situation to give you the best options.
0 votes Thank Flag Link Sun Mar 11, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
Natalia....a short sale is often treated differently, depending on when the home was purchased, amount of the deficiency, etc. In some cases the debt is handled as 'paid as agreed'. If you would like, please feel free to give me a call so that we might discuss (352-665-0073). A realtor with the CDPE (Distressed Property Expert) designation would be most familiar with the options which might work best for you. If you like, I can refer someone to you.

Hope this helps....good luck with your move.
0 votes Thank Flag Link Sun Mar 11, 2012
Hey Natalia,

I have free resources for your credit give me a call and I can help! 972-832-2755
0 votes Thank Flag Link Sun Mar 11, 2012
Have you considered leasing your Flordia home? Therefore mortgage payments other expenses are covered, no damage to your credit where you can push forward with purchase of a Dallas home?

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
0 votes Thank Flag Link Sun Mar 11, 2012
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