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Answers (1)
- Paul Zorich, "Paul Zorich"
- Contributions:32
Robert, you have summed up your situation, however it is a bit more complicated these days. You will need to talk to at least a couple if not three good Mortgage Lenders to see what your specific financial situation looks like, and then they should be able to determine what you can or cannot do. I would recomend talking to one Bank and two mortgage companies to assess your situation. Before you talk to the Bank or Mortgage Companies, you will want to contact and interview three local area Realtors who are familiar with your immediate market. Tell each Realtor that you "may" be selling, and that you are interested in a seeing a CMA (Competitive Market Analysis on your home. After reviewing three of these you should have a pretty good tight price range of what your house is worth. This information is important when talking with the Bank and Mortgage Companies as they will need realistic numbers to assess your situation. Once you haveall this information form the Realtors and the Bank/Mortgage Company, you should be able to make an intelligent decision as to what to do. Hope this helps, best of luck!
Help with a growning Family.
My question concerns our housing situation. When we bought our home about 11 years ago, we had one son. It is a three bedroom home. We now have five children, and desperatley need to find a larger home to accomodate us. We have always been current on our mortgage, and would like to stay with the same lender. However, I know my credit score has been dinged due to student loans which have come thru. I have equity in the home, and am basically looking to get out from under it until we can find a larger home. I don't need a more expensive home, just a larger one. Please help me with this, the whole process just confuses me. Hopefully, I can get some direction.
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