I bought a house 3 years ago through a mortgage company. It was a first-time homebuyers loan, and the only stipulation was that you couldn't sell your house for a profit for at least seven years.
Here's the problem: my wife and I would like to move and build a house. However, we only paid $50,000 for our house. We bought it from someone we knew that needed the money, quickly, so they sold it for cheap. Similar houses in the neighborhood are selling for around $65,000. I'd like to find a way to get out from under my current mortgage. I don't think I can just give my house away. We've probably put $5,000 into it since we bought it. What can I do?
2007-03-02
10:36:22
·
5 answers
·
asked by
cardinalfanusa
3