Advice? short sale my house and live in rent to own house?


I don’t think I can afford to pay mortgage and my bills any longer. My interest is too high and with mortgage and bills, I’m paying over $8080 monthly not including spending money. My husband just started self employed and we both make about $9000 a month together and hardly have money left over. my question is that I wonder if I can short sell my house and than maybe look for those rent to own house and hopefully own a home again and don’t fall into those high interest rate. Is that rent to own home really work? any advice?

Related Topics:

  1. I rent a house and the owner decided to short sale, do i still have to pay rent bec. i made an offer to buy it I currently rent a house which the owner decided to short sale. And by short sale, the owners stopped paying their mortgage for the last 3 months while i continued to pay my rent to them. I made an offer to purchase the house. With my offer already in place,...
  2. Can you buy a new house while in short sale with your fist? We cannot afford our partially remodeled home mortgage any longer because of the arm. Now we have been trying to get out of the house we are in now for years because it’s too small. We want to buy a single family home, ours is a townhouse, and start fresh....
  3. Can you buy a new house then short sale your other one? Due to economy crisis, interest rate fell down and it’s a buyers market. My friend told me that his cousin bought a new home with better interest rate then after they closed, he short sale the other house (1st house) that he can’t afford to pay (less value and higher...
  4. I owe alot more on my house than its worth. Short sale or rent it or forclosure? I want to move. My house I owe $155k and its worth maybee 120K, should I rent it out? Short sale? if Ido a short sale and keep up on all payments till it sells, how bad would it effect my credit? I have a credit score of 721 right...
  5. I am buying a house that is a short sale and we close in 45 days. Can I rent the house till the closing date? I close on my current house in a week and I would like to move into the “short sale” house right away and rent it. I don’t want to put my stuff in storage or rent another place. But our buyer’s agent tells us that the bank does not want...
  6. can I rent a house to keep owner from doing a short sale on 2nd home? I found a little house in Idaho that is about to go up for sale with a short sale. I have bad credit but steady income. The house is up for 40 thousand. Can I attempt to rent it from the owners to try and keep them from short selling...
  7. Can I buy a house as a short sale if I rent it and have the same address? I rent room in the house and the owner is doing a short sale now. Can I buy this house if I have the same address and rent room for 1,5 years?...
  8. What does the term “short sale” mean when buying a forclosed house? The house is in foreclosure and has been auctioned off for 25 thousand but the owner has 6 months to sell the home for more? He offered it to me for 35 thousand and is calling it a “short sale” Has anyone ever heard of that? I’ve never bought a...
  9. I live in New Mexico and my house is in foreclosure. Is a short sale a good option? My house is currently in foreclosure. Ive talked to the lenders Countrywide and they suggested I do a short sale. They said to try to sell it at a price comparable to what other houses in the neighborhood sell for. They said if it doesnt sell for that then keep...
  10. I have a house for sale and live in an apartment. Can I treat the house as a rental property for tax purposes I moved to TN and still own a townhouse in FL. It has been on the market for over a year. Can I deduct any part of the mortgage or expenses? I know I can deduct interest expense. If this were rented out, I think I would be able to...