Categorie: Tutti - income - market - mortgage - equity

da Ricardo Ceja mancano 5 anni

165

Sonia

Sonia is contemplating several financial decisions regarding her property. One option is to sell her house, which would allow her to leverage the current high market prices and eliminate debt, though it would temporarily leave her without a home.

Sonia

Sonia

Options

Barrow money to pay mortgage/Bill while Finding a job

Its not a guaranteed permanent fix to her current situation

Will accumilate Even MoreDebt

Positives....

Can stay in house

Will BUY some time

Won't have to sell house

Doing nothing/Staying in the house
Wouldn't be taking advantage of Possible solutions to my problem

Will be more stressed

Wont be facing the reality of my current situation and wouldn't fix my siuation

Not being able to afford the mortgage and can potentially Lose house to Foreclosure

Probably wouldn't have pay mortgage and could save for a few months...

Will have a place of her own..

Renting the house

Situation won't change for a while. Until House is ready to rent..., finds tenants....

Will have to come up with/have money for unexpected things (No tenant, Repairs, plumbing....)

Will have to deal with tenants Problems

Will have spend money on fixing house up in order to rent for more

Posivives

property can potentially Increase in value

Will gain experience of having a rental property

Will have additional income

Tenants can pay down her mortgage

Can still keep her house

Selling Greenwood and Loaning Ricky the money

Ricky will pay me back my Equity or Find me a nice house

Will help Ricky achieve his goal of keeping Kensington

Won't have a mortgage until she gets a house

Will have a NICE place to live in with Ricky

Won't lose her Equity

Will Freeze her current High Prices

Sell her house Now

In order to sell for as much as possible would have to spend some money or could sell it as is for less

Negatives

Having to let go of her current asset For (Temporarily)

Wont have a place of her Own (Temporarily)

Positives

Less stress of having to quickly figure out what to do and will have more time to come up with a gameplan

Positive: Can get her equity

Wont have the Debt/Payment anymore

Will be able to get rid of some clutter

Will be able to take advantage of the current High Market prices (More Equity

Could save more money

Less pressure of having to maintain expenses and potentially pilling up debt

Wants Ideal outcome

Have her own house to live in
Improve her credit
Get a steady job with good income

Solutions

Eventually Finding a better more stable job to increase her income
Can possibly happen soon or could take sometime