johnson26085, Both Buyer and Seller in Grove City, OH

Home is worth 145,000. We owe 103,000 on our 1st mortgage and 42,000 on our 2nd mortgage. We do not have savings. Can we move to a new house?

Asked by johnson26085, Grove City, OH Sat Mar 16, 2013

We want to sell our house and move to a new house in order to cut down on a 1 1/2 - 2 hour commute to school and work. We got into our 2nd mortgage after I quit my job to become a stay at home mom - also at the height of the housing bubble and have since taken a big hit in our home value. Are there little to no down payment programs available for a second time home buyer?

Help the community by answering this question:


If your home is only worth 145, and you owe 145 on 2 mortgages it is going to be tough to sell it and have enough to pay both mortgages, and the expense of selling it. My recommendation would be to have a market analysis done (I can do this free of charge) to determine what the actual value of your home is. It is possible that it would sell for more than 145, and you could sell it without having to come up with cash to finish paying everything off. There are other options to get out of an "upside down" home, but none would be a good choice if your goal is to purchase another home. There are several low, or no money down programs out there that would be available to you for the purchase of your next home. If you would like to discuss this further please call me at 614-203-8647, or e-mail
0 votes Thank Flag Link Sat Mar 16, 2013
I know the Grove City area very well and can assist you . I can help,you with evaluating your situation and work with you to make the situation right for you. If it can work, we will find a way.

Pleas contact me as I would be very happy to assist you or answer any question you might have in more detail .\john.taylor
0 votes Thank Flag Link Sat Mar 16, 2013
It;s possabale that it could be done..please contact me and let me review the numbers to see if it posssiable..I just closed on a home in Hennigans Grove this past week..I can be reached at:614-395-9554 - Direct

Tim Russell,REALTOR(R)
Century 21 Excellence Realty
614-395-9554 - Direct
614-474-1781 - U-Fax
740-919-4145 - Office
0 votes Thank Flag Link Sat Mar 16, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer