I bot a starter home 2.5 years ago. I am now upside down but current on my mortagage. How do I upgrade?

Kerry Kovanda
Kerry Kovanda
Other/Just Looking
Milliken, CO

I paid 10% down back then. I have outgrown my home and want to look at a bigger home in the Greely/Loveland area. I know that all property values are down and that interest rates are down. I have a good stable job and a great credit score. Looking for a house in the 220-240k area.

Sat Mar 14 2009, 06:47 - Moving in Windsor - 2 answers
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Best answer: Lori Lindholm
First to answer: Brian Burke -…
Lori Lindholm
Lori Lindholm
Agent
Fort Collins, CO
BEST ANSWER

Hi Kerry,
If you can afford to sell your current home to cover the deficiency then I would suggest doing that. It can help you avoid hurting your credit score with a short sale. Otherwise you could lease out your current property and possibly qualify for both homes.

I hope this helps. If you have further questions or needs, don't hesitate to check me out through the website below. Best of luck!

Warmest regards,
Lori

Web Reference: http://www.JustListedColorado.com
Sat Mar 14 2009, 12:39
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Brian Burke - K...
Brian Burke - K...
Broker
Greenwood Village, CO
FIRST ANSWER

You may consider Renting your home then purchasing. When the values go up sell the home that you were renting.

Web Reference: http://www.kennarealestate.com
Sat Mar 14 2009, 08:36
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