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Updated 5 months ago,

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2
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John Leschber
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2
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Should I keep it or sell it

John Leschber
Posted

Please advise on best route. 
-  After purchasing a home for what I feel was to much I am trying to determine the best route. Should I keep the home, sell it, or assumable loan sell.  And if I sell it why does it make more sense in the long run, and at what price should I sell it for if it’s appraised for less than I bought it with current market. 

Should I save and pay it off quickly or would the money be better in my pocket or in stock market? 

Information/situation 

Purchased a 3/2 1800sf home for 480k with 3.5 down payment.  fha. 3.8% interest and Currently owe 450k

Mortgage $3,400.00

Currently we are renting home out for $2,400 and taking a loss

Living in an apartment for $1700 making total living cost $2700 with the 1k for covering loss on home 

Household income 180k-200k 

Please help me figure out what makes the most sense in this situation. My first instinct is to try and have someone assume my loan and get out. 


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