Asked by Chris, Laguna Beach, CA • Thu Sep 11, 2008
i have a situation that allows me to get 50k in hand. now i have a 5/1 mortgage w/2 yrs left and i have listed my house now for 2.5mths with .5 left on contract with my realtor and No offers. WE both new our listing price was at the top of the comps and we new this was going to be a hard sell, especially with a couple forclousers in a community. So i was thinking, after my contract expires, should i re-fi for another 5yrs at a lower rate and keep the 50k in hand and re-list maybe in a year or 2 when the market picks up or, apply the 50k, payoff my 2nd and try sooner to list. Its not that i have to sell the condo but there are soooo many good deals to upgrade into a single family home, i'm affraid that i will miss out if i hold put for too long...Dont know what to do ?
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