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I have a home I've lived in for about 1 year and 4 months. I am getting married in July and will be moving in with my husband at that time. I only have 2 and 1/2 years years to pay on my home. Should I rent it or sell it with the market on homes like it is today?
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I love my home and would love to hold on to it, but I don't know how to begin the process of renting it for a few years.
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I need to sell my home but have no equity after raising 2 children alone on SSD. My home I kept in good shape so Can I let my son or daughter just make the exact payment without it effecting my SSD. I am only allowed to make $640.00 Monthly which I finally found a job which allows this, that I can handle with my disablities. Basically HOW does this house effect my SSD I need to move I can no longer afford to live there alone. I believe having my adult child rent it for no gain is a good option Is it????
The equity was lost when I fixed all the things that went wrong in the home. I lived here for 24 years and its very sad that because of gas bills being so very high I can not afford my home any longer.
Let me add one more detail I live in a very affordable area my home is a nice safe liveable home. I only owe 25,000 on it. They are not costly here at all. The payment is very affordable 225.00 monthly. I put alot of myself into our home. It is all new but the roof. I kept it up ....... and raised the kids alone....... It all costs money...... Thats why I'd like one of my kids to just assume the mortage..... or pay the payments for now.. Thanks for any input anyone has....
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I am not sure how the repayment of the stimulus will be handled. I just know since I was layed off at work that I cannot afford to hold on very long and will be using the stimulus money to pay mortgage..therefore, the money will be gone quickly and not available to repay in coming tax year..
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Here's my situation. Moved out of state and put home up for sale in Denver metro area. Has been on the market for about 2 months. Lots of showings, no offers. If I sell it now it looks like I'll be losing about 10K as we've only been in the house for 2 years and haven't built up equity and the market sucks. I've looked into renting, but will not be able to cover my mortgage (I'll have to pay about $500/month after paying a property manager). What do you think?
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