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November 23rd, 2009, 03:33 PM
Mom at Home Mom at Home is offline
homeschooling mom of 2
Join Date: Aug 2009
Location: Jersey Shore, but MI is home
Posts: 1,960
Quote:
Originally Posted by ~ChelNae6~ View Post
1) Whats his occupation? He's in advertising and marketing, as crazed as I feel I know I should be so thankful that he has companies who want to hire him and a really good salary now...

2) Do you think that you guys could rent it out and get what you pay mortgage for on it?not something I would consider, since we'd be moving back home to MI I don't even want to think about having this property here and refuse to have more then one mortgage in our name in this economy... sort of a it sells or we don't move situation as far as we're concerned

3) They have FSBO websites (some for a small fee) that you can list the house on. And you might want to also try an open house (listing it in the local newspaper) as opposed to just craigslist. (FSBO Homes For Sale By Owner | Real Estate Listings For Sale By Owner at FSBO.com)if he gets an offer and we decide to move forward we'll list it in the MLS (we've met with someone already and they have a flat fee MLS listing where the most we'd pay out is the 2.5% buyer agent fee we already plan to pay out

4) Have you guys thought about short sale? Its not as bad as a foreclosure and you can be sure to get a house within the next year or two. A short sale with a promissory note is better b/c you wont be quite settling, you just sell the house for what its worth and then sign a promissory note to the loan company to make monthly payments on the remainder of the loan. That doesnt affect your credit like if you were to short sale it for less. Your loan company can probably assist you in doing one (it might cost a few thousand though but im not sure if you go through your loan company, like maybe $2000).We really haven't since we have pristine credit and I've worked hard to keep it that way, plus I'm so anti renting (again my type A thing LOL) though worst case and it wasn't selling with an MLS listing we would likely buy a new house in MI (since the economy is so dead we could get a steal and his salary & our credit should allow us to get another mortgage while we still have this one) and then short sale the NJ house

5) He could probably look into asking for a relocation package that would 1. help you move and 2. could potentially help you guys get a listing agent we'd insist on a relocation package (TX move would be covered in full, but like I said he doesn't want to go there) with the MI company it would be tough to negotiate a signing bonus etc as the economy there is just so dead, he'd likely take a $30K salary cut just to move home already

Baby father has a real estate license so thats why I know a little bit about these things lol
Thank you

Ashley: thanks for your post too. We have discussed it and after a few mini breakdowns this week I think he finally gets how stressful it is to me. He did promise me that under no circumstance would he move home to start a job and leave me here pregnant w/my 5 1/2yr old and all the pets and pregnant etc so that made me feel better. He also promised that he'd only be willing to drop so much in salary to move home and agreed that if the house doesn't sell then he will take another job in NYC... I think I'll take your advice and try to put my nesting instincts aside and concentrate more on "if we move" then setting up the nursery etc since it would be easier to set up her nursery should we not move then it would be to start from scratch on a move if we do.
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wife to Craig 5/28/2002 mom to Aliya 3/31/2004 and Liliana 4/6/2010
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