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Old 09-12-2009, 04:27 PM
 
106 posts, read 222,909 times
Reputation: 51

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First of all, I am current on my mortgage. If I would sale the house right now, probably get $90,000. I live in centennial hills were homes are going pretty cheap right now. If I got 90,000 foor my home now, I would be 50,000 short.

I just want to get out of vegas now.
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Old 09-12-2009, 04:42 PM
 
Location: Las Vegas, NV
2,990 posts, read 8,714,496 times
Reputation: 1516
From what i've heard, it drops your score but not as bad as a forclosure. If I were you, just rent it out until the market goes back up and you can sell when you are at the breaking even point. But if the bank agrees to a short sale, then that would be a better option than letting it go. Didn't you say you already moved to CA?
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Old 09-12-2009, 04:57 PM
 
10,494 posts, read 27,250,314 times
Reputation: 6718
Quote:
Originally Posted by armyjimb View Post
First of all, I am current on my mortgage. If I would sale the house right now, probably get $90,000. I live in centennial hills were homes are going pretty cheap right now. If I got 90,000 foor my home now, I would be 50,000 short.

I just want to get out of vegas now.
You said earlier that you got a $90,000 a year job in San Francisco and have moved a couple of months ago. Now you are saying you want to leave Las Vegas. Which is it?
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Old 09-12-2009, 05:50 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,001,815 times
Reputation: 5057
he also said that he was gone already....
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Old 09-12-2009, 06:04 PM
 
Location: Toledo, OH
1,725 posts, read 3,464,951 times
Reputation: 1277
Yep...I remember that. While I enjoyed my couple visits to San Franciso, there is absolutely NO WAY I would live there. Way too expensive, way to crowded, and traffic is TERRIBLE!!! But to each there own and I'd rather seem him do a short then let it sit and rot. I wonder if he is still living there mortgage free?
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Old 09-12-2009, 06:08 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,001,815 times
Reputation: 5057
how can he be living in vegas if he took a 90k a year job in san fran.. plus will the bank look at his income, with a 90k job, they aint gonna do nothing for him
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Old 09-12-2009, 11:14 PM
 
106 posts, read 222,909 times
Reputation: 51
Hey Guys and Gals,

I do live in San Francisco making 90,000 a year. Unfortuantely I still have a house in Vegas that was rented out but I had to evict the renters. Can't win. I'm letting my son stay in there till I get some renters. With all these problems with renting your home out, I am considering trying to short sale, or just pursue forclosure. Furthermore just because I make 90000 as a building engineer doesn't mean i have tons of money to spend.
In the bay area, it costs a lot to live here but at least I have a job with benefits.
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Old 09-12-2009, 11:20 PM
 
10,494 posts, read 27,250,314 times
Reputation: 6718
Quote:
Originally Posted by armyjimb View Post
Hey Guys and Gals,

I do live in San Francisco making 90,000 a year. Unfortuantely I still have a house in Vegas that was rented out but I had to evict the renters. Can't win. I'm letting my son stay in there till I get some renters. With all these problems with renting your home out, I am considering trying to short sale, or just pursue forclosure. Furthermore just because I make 90000 as a building engineer doesn't mean i have tons of money to spend.
In the bay area, it costs a lot to live here but at least I have a job with benefits.
Well, with either a short sale, or a foreclosure you are going to destroy your credit. I would think the foreclosure would be worse, but I do not know for sure.
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Old 09-13-2009, 12:23 AM
 
1,347 posts, read 2,449,050 times
Reputation: 498
Quote:
Originally Posted by armyjimb View Post
Hey Guys and Gals,

I do live in San Francisco making 90,000 a year. Unfortuantely I still have a house in Vegas that was rented out but I had to evict the renters. Can't win. I'm letting my son stay in there till I get some renters. With all these problems with renting your home out, I am considering trying to short sale, or just pursue forclosure. Furthermore just because I make 90000 as a building engineer doesn't mean i have tons of money to spend.
In the bay area, it costs a lot to live here but at least I have a job with benefits.
I got no dog in this fight, but your story is all over the map.
Quote:
Originally Posted by armyjimb View Post
How can I turn down an $80,000 yr job? You can't!!!!
Granted Calif has problems but the bay area is doing great. Remember the state of California was recover first then the rest with last Vegas in last place.
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