Home Buying in 30134>Question Details

Adanie14, Home Buyer in Douglasville, GA

I want to purchase a bigger home but am upside down in my current mortgage, What suggestions do you have?

Asked by Adanie14, Douglasville, GA Wed Mar 7, 2012

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I live in the 30135 area, I have 5bds. 2 full ba. and a powder room on the main. Liv. rm. formal din., kit, and knook, fam. rm. 2car gar. Built 2004 or 5. Where what size is yours and are you a vet?
0 votes Thank Flag Link Thu Mar 15, 2012
I own a larger home and I want to downsize, email me at funlovinshopper@yahoo.com
0 votes Thank Flag Link Tue Mar 13, 2012
Renting your current home is one of your only options. You would have to be able to qualify for two mortgages.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
Web Reference: http://www.rodneymason.com
0 votes Thank Flag Link Wed Mar 7, 2012
You can rent your home but you would have to be able to qualify for the new purchase and along with your current house payment. I have had several clients do just that so they could take advantage of the great prices out there right now. If your finances allow it is the perfect time to move up. I you have any questions or need a referral to a lender to speak with about this please give me a call.

Thanks!

Prissy Dixon
Solid Source Realty Inc
404-408-4941
prissydixon@gmail.com
0 votes Thank Flag Link Wed Mar 7, 2012
You could rent your home and then buy a new home but the financing could be expensive since you would then be classified an investor. The mortgage on your new larger home will come with a higher interest rate than just a plain buyer. Your only choices might be that you sell your current home and bring the difference in what you owe on your mortgage and what you will receive on the sale to the closing table or you will just have to live in your current home until the market gets better for sellers.

Sincerely,
Michael Toback, GRI
Associate Broker-Realtor®
Better Homes and Gardens Real Estate Metrobrokers
Web Reference: http://www.miketoback.com
0 votes Thank Flag Link Wed Mar 7, 2012
You could rent your current home. For further assistance, please email me at dawn.graham-porter@metrobrokers.com or give me a call at 404-316-9421. I would be happy to assist you.

Sincerely,
Dawn Graham-Porter
BHGRE Metro Brokers
0 votes Thank Flag Link Wed Mar 7, 2012
So you're presently upside down and want to move up? In Douglasville?

What am I missing?

Hank
0 votes Thank Flag Link Wed Mar 7, 2012
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