Thread: Homeowner Options for Home Upgrade

You can contact to any better agent (Online) so that he will better give you an advice on this else, there are some online sites which provide these services.

Can you pls recommend such sites that you mentioned?

Cheers.

The only option I know of is to sell your condo at a loss, pay the difference to your lender and then buy another property.

Re-read what Greg wrote.

Upgrade? Greg's right. Either that or hope your lender agrees to a Short Sale. If they do, sit back, stay current and wait the 9 months for them to accept a "reasonable" offer if they ever.....

Just get comfortable if you go this route.

I don't think I have heard of an upgrade in a property unless you are going to sell the property. But you can also do a property switch. This is done by looking up people either on the internet or on the ads who are willing to trade houses with you. This is a much more cheaper alternative than to wait for a buyer to the condo.

Home owners are in a special position when it comes to secured loans. A home is often the largest investment an individual or couple will make and that property will continue to appreciate in value over time. The longer you stay in a home, the more your home will grow in value and the more wealth you accumulate as you pay down your mortgage and watch your house grow more valuable.

I'm sorry to say that I have to agree with Greg on this one. Unfortunately, once you get underwater on a mortgage, there aren't a whole lot of good options for the owner. If you are ready to move and don't want to wait it out, be prepared to take a loss on the sale, or file for a short sale which could damage your credit.

I am surprised that you don't consider renting your property. Depending on the next type of loan you are getting, lenders will count rental income to offset the monthly debt payments. If you make decent money, this is a viable option to buy/upgrade to another home, especially if you have down payment money.

Originally Posted by realestategirl

I don't think I have heard of an upgrade in a property unless you are going to sell the property. But you can also do a property switch. This is done by looking up people either on the internet or on the ads who are willing to trade houses with you. This is a much more cheaper alternative than to wait for a buyer to the condo.

I think this will be really worth and like this seller will not find any problem in future. I mean it will take a long time waiting for a buyer so the better option is to pay attention on internet and even it will be beneficial to get listed on the websites that mainly do buying/selling of properties.