Want to buy a new Home but can't sell Current House
07-23-2009 10:19 PM
We have out grown our home and DW and I are tring to figure out a way we can buy a bigger home to suit our needs and accommodate our growing family. Our current home is worth $30K less then what we originally mgt so selling it is out of the question (I think).
I was thinking that my only other choice to make this work is to rent it out, and then see if we could get pre-approved for another mgt. Has anyone done this? What are some of the stipulations and requirements to get an approval from a lender?
Do I have any other options................?