I know that the Banks will not consider trading homes. The Banks primary goal is to get the properties sold and off their books. To take another property in trade defeats this purpose.

You best bet is to sell the home you have the equity in. Once you have an accepted contract then you need to start seriously looking to purchase a new property. It can be hard to coordinate a concurrent transaction where you close on the sale of your existing home and close on the purchase of your new home on the same day. If you are buying a Bank owned home they will also not really consider an offer that is contingent upon the sale of your existing home.

Your best bet might be to sell your home and get that transaction closed; put your belongings in short term storage (pods would be a good solution). Get a short term rental for 30-60 days (or make arrangements to stay with a relative) and go out and buy the new home that works for you as a cash buyer. The Banks will take you seriously as a cash buyer.

I know this seems like a hassle, but it is short term and in the long term you will be better off and will own your new home free and clear.

Let me know if you need any assistance.

Ron Johnson
Elite Realty
702-595-9743