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Old 06-08-2011, 01:03 PM
 
Location: anywhere but here
296 posts, read 638,591 times
Reputation: 265

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has anyone heard of this and did it work? i thought it would be a good idea. i need to sell my house so i can move....i find someone willing to move in the area i want..they take over my house payments and i take over theirs. or as i see it i take on their house headaches and they take mine! of course this is pending on house inspections...termites and major problems ect....would this be legal? wnyone see any problems? i'm going to ask an agent in the area i want to see if they are interested.
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Old 06-08-2011, 01:07 PM
 
Location: Tempe, Arizona
4,511 posts, read 13,582,493 times
Reputation: 2201
Unless you each have assumable loans and qualify for the respective loans, it won't work.
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Old 06-08-2011, 01:16 PM
 
Location: Austin
7,244 posts, read 21,814,092 times
Reputation: 10015
You don't just take over their payments. You "trade" houses and each obtain new financing (or cash) on their new house. I've seen it happen twice. It gets sticky, but it can work.
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Old 06-08-2011, 02:15 PM
 
201 posts, read 470,162 times
Reputation: 229
or you could rent each others house.
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Old 06-08-2011, 03:58 PM
 
Location: Simmering in DFW
6,952 posts, read 22,690,784 times
Reputation: 7297
I've noticed Craigslist has a house swapping section
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Old 06-08-2011, 05:09 PM
 
Location: anywhere but here
296 posts, read 638,591 times
Reputation: 265
there should be an easier way...it would get houses off the market. century 21 told me to find a realtor in the area i was looking at and see if they would do that. guess i'm just grasping at straws though.
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