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.
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