Profile picture for user519338

we have another baby on the way, and we need a bigger house. How do I get out of my mortgage for my

smaller home?
  • June 09 2012 - Burlington
  • 0Yes

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Answers (3)

Profile picture for user519338
no
  • June 10 2012
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Profile picture for Sharon Lewis
Congratulations on the new baby on the way..depending on when you purchased your home and its current market value is you can probably try to sell it now. Burlington is a busy area with the new mall nearby. Have you spoken with a realtor?
  • June 10 2012
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Profile picture for wetdawgs
There are many options:

You can sell your smaller home, pay off the mortgage,  and purchase a bigger home.  

Or, if your income is large enough you may be able to purchase a new home and rent the old home.  The rental income won't count until you have a record of it in your taxes for a couple of years.   (There will be down payment requirements and $$ reserve requirements for this one.)

Or, you can learn to live in your current home with baby human.   It is amazing how many people can live quite well in a 900 square foot home if one puts their mind to it.

  • June 09 2012
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