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can i buy a house, if i owe more than my house is worth.

I owe 195,000.00 Its worth 110,000.00
  • March 22 2009 - Phoenix
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Answers (3)

Leasing the property you have now is also an option so you don't take a hit to your credit score by doing a short sale.
  • March 30 2009
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You will need to talk with a mortgage broker to get an opinion.  Sounds like you may need to do a short sale on your home which will negatively impact your FICO score.  If you have a broker, give them a call.  If you need one I can refer some excellent local brokers.
  • March 30 2009
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Your debt-to-income ratios will need to meet the requirements for the new loan, no matter what your current liabilities are. So the answer is possibly and it comes down to your ratios.

Hope this helps.

Rob Feidler

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  • March 30 2009
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