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House?

T

The Godfather

Platinum Member
Hi. I live in Georgia and I was just wondering is there a way to exchange/release the house you live in currently, for another one. Or what are my possibilities with the bank on releasing this house from me. As in for people who now find it an inconvenience to live in the area, pay the rent, or other issues that might restrain them from keeping the house they bought. I bought this house over a year and a half ago.

Any ideas?

I am really sick of this house and I wish to move, I just need to know my options.

Thanks in advance.
 
Originally posted by: Capt Caveman
You sell it. Pay-off your mortgage. Move on.
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Pretty much. It is *possible* to trade it for another property in theory but in practice it's just selling it and assuming a mortgage on the new house. Certainly more complicated since you don't own the property outright.
 
you have to sell it
you probably won't get as much as you paid 1.5 years ago

welcome to the recession/burst housing bubble


joking aside, you should really just wait this out, don't sell/move right now if you have any other options

being "sick of this house" is probably not a good enough reason if you are being rational
 
You might check out Craigslist and see if anyone is interested in a housing swap in your area. Essentially, you trade homes temporarily while continuing payments on your own property. What is the issue with your current living situation? Affordability? Location? The house itself?
 
Originally posted by: slsmnaz
Originally posted by: Capt Caveman
You sell it. Pay-off your mortgage. Move on.
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yep. Not really sure what other options the OP's thinking are available
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You cannot just tell the mortgage lender "Nevermind, I don't want it, let's trade back?"

🙁
 
Any deal for an exchange will make no difference to the banks or title company. It will be handled as a sale and a subsequent purchase. You will pay all title fees, closing costs, etc when you "buy" the new house, and originate a new loan.
 
Originally posted by: Mxylplyx
Any deal for an exchange will make no difference to the banks or title company. It will be handled as a sale and a subsequent purchase. You will pay all title fees, closing costs, etc when you "buy" the new house, and originate a new loan.
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Yeah, a trade would be dealt with the same way a sell\buy would be dealt with. It will probably be harder to find as well. Odds are you aren't going to randomly stumble across someone that lives in a place that you like that also likes your house just as well and is willing to settle for the same price between the two houses. Cmon...
 
Originally posted by: The Godfather
Hi. I live in Georgia and I was just wondering is there a way to exchange/release the house you live in currently, for another one. Or what are my possibilities with the bank on releasing this house from me. As in for people who now find it an inconvenience to live in the area, pay the rent, or other issues that might restrain them from keeping the house they bought. I bought this house over a year and a half ago.

Any ideas?

I am really sick of this house and I wish to move, I just need to know my options.

Thanks in advance.
Click to expand...

I'm not sure anyone who lacks even a basic level of understanding concerning real estate should own a house.

 
Originally posted by: mugs
😕
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I think he's asking for a do over.

You know...he was the kind of kid that always wanted to come over to your house when your friends where there, but when the game of hide -n- seek, capture the fort, king of the mountain, etc....started going badly for him he would start screaming DO OVER! DO OVER! DO OVER!! until you and your friends finally got sick of him and beat the snot out of him.

Of course he came back again the next day. His kind never seem to get the message.
 
Originally posted by: mugs
😕
Click to expand...

Oh yes!
Surely you can trade a dilapidated house in a bad neighborhood for a nicer house in a better neighborhood!

People do this all the time.

Don't they?
 
Originally posted by: The Godfather
Hi. I live in Georgia and I was just wondering is there a way to exchange/release the house you live in currently, for another one. Or what are my possibilities with the bank on releasing this house from me. As in for people who now find it an inconvenience to live in the area, pay the rent, or other issues that might restrain them from keeping the house they bought. I bought this house over a year and a half ago.

Any ideas?

I am really sick of this house and I wish to move, I just need to know my options.

Thanks in advance.
Click to expand...

when you bought your house, do you remember signing all of that paperwork when you closed? you do that again after you find a buyer for your existing house.

the simple answer to your question is to talk to a realtor.
 
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