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08-15-2010, 08:20 PM #1
Renter
- Join Date
- Aug 2010
- Posts
- 1
Moving to Washington
My job has recently moved me from California to Washignton. Currently I own my home in california, and I am under water over 100k. I want to purchase a home in Washignton. I am the only person on my loan in california (purchased when i was single). So my questions are?
1.) Can I rent my California home, and purchase a new home in Washington? The 2 mortgages with my debt to income ratio would be too much. So is there a law that bypasses the having to have equity in 1st home to buy 2nd if moving with Job?
2.) Can my wife purchase the second home, without going through the red tape of me owning the 1st?
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08-16-2010, 06:53 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
There are no laws restricting what you can buy.
The only thing restricting you will be your credit score, income and cash on hand. If you qualify for another mortgage then you can buy another property.
Talk to some lenders in the area you want to move to and see what your options are.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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