Movements and want to rent your house – Do I have a second mortgage small house deposit?

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3 months ago I lost my job. I have a very good job opportunity, which would require moving about an hour from where I live to travel to New York. I’d like to rent a house I own and buy a second home in New Haven County, CT. I could put that about10% below the second koju.IgaĆ¼ks know what mortgage options? This is not a holiday home, because I am living there. Is it possible to get a mortgage, the first second home with pay? Rental to cover the mortgage, insurance, taxes and maintenance. I have about $ 125k in my home —- it was U.S. $ 210K a year ago, but who knows now …

2 Comments
  1. Reply
    wwerqwer
    January 30, 2011 at 4:16 pm

    I do not really understand your question, though a suggestion:

    I would suggest advertising your house at some Unis, because there will be many overseas student that would like a house. But because they are student, they would find houses with rent that are fairly low.

    But the amount you are owing is a very large amount, that’s the problem. It would help if you give more information, such as when is the money due or whatever.

    That’s all I can say, maybe because of the lack of understanding is because of that lack of information. Well, whatever you wanna do, good luck.

    Message to other readers: I have one question open, pls feel free and kind to just have a look at it, in case you can help. Thank you. It is about Bored Aussie.

  2. Reply
    Hanna
    January 30, 2011 at 5:02 pm

    Although the housing market is tough at the moment, I would think that yes, they would consider the equity you have in your home. I know prices have probably dropped…but long term they will come back up again.

    You should have a chat with your bank manager. Even if you don’t go with them for the mortgage or refinancing, they’ll be able to give you valuable advice.

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