My advice to you (recently retired after 26 years of military service, and have given LOTS of advice to young soldiers, sailors, airmen, marines and coast guardsmen!) would be to hold onto your home and rent it out. You will likely be able to cover your mortgage cost with the rent coming in every month and you will be building equity in the home while someone else pays your mortgage for you. The military will provide you with a home, or at least with a housing allowance (BAH) so that you can rent you're own home at or near your husband's duty station. And if you live near a military installation now, the Department of Defense offers a website (AHRN.com) that allows military members to advertise their rental (and sale) properties for free. This site also attracts many good military renters to homes, which is good because military renters are typically the best kind of renter. Feel free to give me a shout if you have any questions...Jim
Although if you just bought it in December, hopefully you will get your money out of it. There are also the expenses in selling your home which are a couple of thousand. My office also offers a discounted commission for those in the military. We also take care of everything should you need to leave before your home closes.
You could also do a short sale. although the bank would have to agree. In your case if you are not behind in payments or both have good jobs that you could afford to pay it, I am not sure if you would qualify. I would also contact your lender to see if this would be an option for you just in case. If you are close though I would try and explore selling your home first.
we are seeing a slight upturn in sales and prices in this area, but just a little. If you would like to give me a call, I would be glad to stop over and see what we can sell your home for. I live the Town of Evans so I am familiar with what is going on in the area. I look forward to speaking with you.
Lee Ann Obenauer 983-3607
Have you looked into getting a VA loan. They offer really low interest rates, no mortgage insurance and low closing costs. Refinancing may be a better option for you.
Since the market is improving quite quickly, are you sure you will need to take a loss? It is possible that values have grown considerably in your area over the past 6 months. I would check with a real estate agent to see what they say.