My husband and I have a house and are going to sell it for a new one(we want to buy a larger home, in a different area). He doesn't have the best credit. He has 2 repossesions (both voluntary surrenders) and few small charged off debts. When I contacted the mortgage companies most said no and one said we should sell our, pay off the bad debt then rent for 6 months. Sounds like a good idea, but I'm afraid we will sell, then be told we can't buy anything. I don't want to rent for the rest of our lives. We've already gotten used to owning. I have good credit, and they told me I could buy a house no problem, but I just finished school and still not working. Financially what should we do? Stay in our OWNED home until we can (if ever) buy a new one, or take the risk of selling and then have to rent for another 10 years or so.
2007-09-13
07:49:58
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8 answers
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asked by
Carrie
3