I've found that it's always a great idea to consistently re-evaluate your household budget, regardless of the situation. Some of the questions to ask yourself:
- Look at overall household debt. For example, are you paying for any of your child's college bills?
- Get an agent to look at comps and give you a home price value opinion. An experienced agent will tell whether you have equity or not.
- Do you really want to sell, or perhaps turn your home into a rental? Many folks are thinking about the benefits of turning assets (like a home) into an annuity stream. If you can make the rental cash-flow positive, it's a great way to start building up retirement income.
Please contact me and we can run through specific scenarios. I'd be happy to help you plan this all out.
Wow, you have a tough decision to make quick. In my opinion, it sounds as if time is of the essence and you need experienced legal counsel. You have custodial questions as well as authentication of a quit claim form being filed. Your attorney will be the best place to start as Realtor's are not allowed to practice law.... more