Quote:
Originally Posted by emmalauragarcia
We are going to move to Alabama because my husband get a promotion in his job, we have a house here and we love to buy a house there, we list our house from here for sale with no buyers interested, Can we buy a house in Alabama and them list our house here for a short sale???
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you'd probably get more responses if you started your own thread. just fyi.
You haven't given any details, so it's hard for someone to provide advice. I know some here went the "buy and bail" route but I personally would't do that, your opinion may be different. Is your current state a "recourse" state? If it is a recourse state, the banks are not going to just pretend that you don't still owe them money, they're going to come after you at some point.
Also, most banks are "on to" the buy and bail strategy and aren't going to lend money to you on a new house when you have an underwater house in another state already, unless of course you can prove you have sufficient income to maintain both residences.
Your best bet may be to rent out your current home, move to new job/state, then purchase a new house. Of course this depends on whether or not you would receive enough in rent to cover your mortgage, but since you didn't provide any details, it's hard for anyone to give you any real advice.
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