Should we stay, or should we go?

Asked by Catherine, Albany, NY Wed May 16, 2012

My family is out-growing our 3BR home we bought in 2009 for 223K. We'd love to get out of here! The problem is that we owe $210K and looking at comparable sales, we'd probably be looking at getting between $200-210K. To make matters worse, the PITI payment of ~1800 is getting quite restrictive now that we have daycare expenses. In essence, we can't comfortably afford to stay (especially with the work we'd like to do here) and we can't afford to go. We don't want to re-finance if we're just going to end up selling in a year, but it's impossible to save for a downpayment on a new place like this.

Any advice?

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Ron Thomas, Agent, Fresno, CA
Thu May 17, 2012
You make it sound like you are desperate!

You are only a little upside-down,
you are a little inconvenienced,
you are a little uncomfortable.

You have a roof over your head,
you are not being evicted,
you are not being foreclosed,
you are not going to be homeless!

The best plan is to buck-up and tough it out for a while longer;
the Market is recovering, and your house is in that range to be affected,
You need to concentrate on keeping the place nice and your credit good.

you need to be patient.
A lot of people would trade places with you!

Good luck and may God bless
1 vote
Alan May, Agent, Evanston, IL
Thu May 17, 2012
If you say that you are mine,
I'll be here 'till the end of time.
0 votes
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