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who to turn to for real estate advice?

April 5 2011 at 5:09 PM
Sandy in MI  (Login SandyinMI)
The Frugalista Files

I'm trying to figure out if it would make financial sense for us to sell our house at a significant loss, or try to rent it. I seriously doubt we'd be able to rent it at a high enough rate to cover the mortgage and taxes, but it would probably be less of a loss in the long haul. However, we live in an area that has been hemorrhaging people for decades and the market is unlikely to improve much here. I'm not quite sure where to look for advice. Would you contact a real estate agent, a financial advisor or someone else? I've looked online for a sort of calculator but haven't found anything great yet.

Dh is thisclose to losing his job. His company was just sold and there's a major upheaval going on. This isn't a surprise as we've known about it for about 6 months and he's been looking for something else. He has several irons in the fire but nothing for sure yet. Any job change would require an out-of-state relocation. Luckily, we have savings and he'd get a few months pay plus unemployment if it happens before something else pans out. However, because of the savings and investments I doubt we'd qualify for a short-sale or a modification on our mortgage.

 
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