Jennifer Wang, REALTORÂ®, Buyer Specialist
The Landmark Group at Real Estate Teams, LLC
You have the option of renting out your current home and purchasing a new one if you qualify.
Why not touch base with a mortgage banker to determine your options?
As you see from the other answers, it's not possible to roll your negative into another home. The market has heated up some in Frederick and it depends on what location you are you might be able to get a little more now then you think. It really depnds on the ocndition of your home, location, etc. It is possible for your to rent your home out as the rental market is extremly hot right now. Give me a call and we can discuss further. 240-876-3424.
Thank you, Patty Smth
Long & Foster Real Estate
Mount Airy, MD
If you can qualify for your current home and your new home, then you can purchase the new home and lease out the current home until the market returns. This is dangerous proposition and I wouldn't recommend it for obvious reasons, but it is possible in some instances.
You may have some options.
You can rent the current place as long as the new mortgage qualifies you with your current payments plus the new one.
You can rent your current place and then move to somewhere that you rent instead of buy.
You can find a Seller that will do the financing instead of a bank (hard to find).
It's not easy, but with the right mortgage person and real estate agent, it might be possible.