If I'm not mistaken, Fernando and Ania missed the point. You want to know if you should give up home ownership, and rent from someone else instead. The market is bad, but I don't think it's THAT bad. If you sell your home, would you be able to pay off the mortgage? Or are we looking at a short sale? If you do come up short, would the bank write it off, or would they get a judgement against you for the difference? There are many other factors to consider as well.

But if you give up home ownership, you not only might lose money, you'd lose the tax advantages and the security of owning your own place. And what if we get hit by a bout of massive inflation? (as many believe we will). Your rent would go up. Your mortgage won't..

And do you really want to move? For me personally, I'd rather do just about anything to not have to go through that! That said, if you still want to sell, give me a call at (443) 789-6712.

Good luck!

Selling in this market is madness. . you are better off renting it if you can afford it. .
if you can't, you should consider a loan modification- if that fails a short sale should be your next option

That depends on what your motivation is for moving? If you sell and rent, do you have another property that you can call home?
Ania
AniaMIller@kw.com