Rent or sell?

[Robert Painter]

We have just received a loan modification on our 3 bed 2 bath single family home. We have been wanting to move for some time now and feel it is a good time. Our current mortgage is much lower than what we can rent the home for. I know it sounds like a no brainer but I want some other opinions. We could clear about $25,000 if we sell and $300 a month if we rent.

[Edward Burns]

Are you saying that your mortgage payment (PITI) is let's say $1000.00 and that you could rent the house for $1300. If that is the case, sell the house. Vacancies, repairs, management and other costs will eat that $300.00 plus more.