How Can We Buy A Different House With An Underwater Mortgage?
I’m underwater in my mortgage but still want to sell it and get into a nicer home. I’ve considered trying to do a lot of enhancements to our house but its generally just an average house. I don’t know that all the fix ups will pay off. Should we just get an appraisal and try to pay off the rest? Is there a way to roll leftovers into another loan?
Its interesting that people assume that we’re in “trouble” – we’re not. Simply, I’ve had a mortgage on a house for four years, the value of the house has dropped due to current economic conditions. Not unlike living in any other house my entire life and then getting bored with it and moving, I’m tired of this house. I just want a nicer bigger house and have done nothing to lower the value of our current home. I just want to sell it and move NOT because we’re underwater in it, it just happens to be a fact.