Plus: Are you really sure that what you're proposing is a good idea? I'm not. Consider: If you were able to do that, suppose you found a new home with a value and a list price of $400,000. You buy it for $400,000, and have your $100,000 in negative equity transferred to the new property. Now you've received nothing for the sale of your old house, and you've spent $500,000 ($400,000 purchase price plus $100,000 in negative equity) on the new house. I doubt a lender would go along with that! And even if a lender did, you'd be $100,000 in the hole, in what, in many parts of the country, is still a declining market. Let's assume prices decline 10% more over the next two years, then are flat for two years. That's not an unreasonable prediction. That means that in four years, your new place would be worth $360,000. Meanwhile, you'd have a mortgage of up to $500,000. You'd only be digging yourself further in the hole. Then, let's say you want to sell after four years. Allowing for a real estate commission and other costs, you'd be adding perhaps another $30,000 in debt. So now we're up to $170,000 upside down on a property worth $360,000.
Check with a good Realtor and get a CMA on your property. Make sure it's worth only $310,000, or so. But you're probably in the general ballpark.
Based on what little you've provided above, I'd strongly recommend that you consider staying where you are. I'm sure you'd like to move to a bigger place. But if you're $100,000 upside down, "liking to move" isn't enough of a reason to do so.
Hope that helps.
Sorry to say, but that is NOT possible. Your loan is tied to your current residence and is not transferrable to a new home. Your looking at possibly negociating a loan modification, with your current lender, and stay where you are at, or a short sale.
Without knowing all your details it would be difficult to provide you with good advise. Please give me a call or send me an email and I can advise your further.
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My personal advice.. Short sell and rent for a few years while saving as much money as possible.. Buy in 3 years when you qualify. Or sit in the house until it's not upside down anymore.. but expect that to take 10-15 years per some recent online forecasts.
There is no way to carry the balance of the loan to the next place... i am sorry... think of it this way... if you were a lender would you take an extra $100,000 of debt from a previous person and make it even more difficult for the buyer to pay back the new loan that you just lent to them? probably not... it doesn't make sense for a lender to do so....
For more answers there is a site that I found that really helps tell you about selling your home.... It's specifically for Costa Mesa but its information is helpful...