To rent or sell?

[Larry Littrell]

I will try to make this as brief as possible but it gets a little complicated. After years of being underwater in my home i can finally get out without bringing money to closing.

My wife and I want to downsize and move. The question is sell or hold and rent.

2 loans=    265k first - $1700 payment

78k HELOC - $300 interest only adjustable payment but will be $650 when locked

Rent potential $2200 per month

House is in excellent condition 9 years old.

The HELOC is pretty much consumer debt from when we used to use our house as a cash machine (ugh).