My husband recently lost his job due to restrustering. We just purchased our current home 2 years ago. There

Asked by Pam, Ohio Wed Jul 2, 2008

is a chance we are going to have to relocate to another state. I do not think with todays market our home will sell as fast as we need to and we are leary on renting. My question is what options do we have to still be able to purchace a home in another state if we still have our current home. If we decide to do a deed-in-lue what kind of affect will that have on our credit score and can we purchace a home if we decide to do this?

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Susan Wesely, , Saint Paul, MN
Wed Jul 2, 2008
Pam - I'm sorry you are having to deal with this - it mut be difficult. Your best bet would be to speak with a loan officer or two about possible options. You might also talk with someone from your current mortgage holder about the situation. They can tell you what they see as good options. If you must sell for less than you owe (short sale), get a local Realtor who specializes in short sales to help you. I can provide a referral - jut email me at Best of luck!
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