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[jmw1212]

I've been doing allot of heart to heart thinking and although this moving idea is so overwhelming for us, especially after we just did that with our building. I am wondering if I really want to fight for this home any longer. If we can find a nice home that is even nicer than this one and we can work out a rent to own deal, that may be a better option. Of coarse, not everyone is keen on renting to own. I found a home right down the road, very nice and in much better shape than ours. They are asking 26k less than we owe on this one. It's not a cookie cutter home. It's like ours, custom designed. It sits on an extra acre of property than our home does. It looks to be in perfect shape and built in the same year as our home. Similiar in the things we love about our home. It would keep my boys in the exact same school. It's more private, not in a "subdivision". Even has the same views as our property has. I emailed the realtor to see if they would consider a lease with buy option, or rent to own. I think like others it's been on the market for a while. We will see. Looks like we might be getting some money soon, enough to do this if they agree. Maybe it's time to move on..I now have to convince my hubby. He doesn't want to move again. I told him with the little extra money we have coming in, we can hire some help for the move. Maybe it's time.

The reason I based this desicion on was this, if she was wrong please correct. I asked the realtor, if we were able to keep our home with a mod, then did a short sale or deed in lieu two or three years later (after our other foreclosures expire), would we have to start back over with the three year mark for a new loan? She said yes, it would be two years for those. So my thinking is if we go through all this loan mod process, and get it to work. We are still back at waiting again to be able to get a loan, because we will have to let this house go to short sale then. So maybe we need to start it now. I don't know. We are still not even discharged yet, so I'm not sure how that affects our loans later. Anyone with any advice, please let me know. Thanks:)

[chicagorich]

Walking away is an alternative. Same affect as a foreclosure. As far as rent to own, seems like most of the ones I have ever seen tend to be lower priced houses in so-so areas which are hard to sell (and the owner doesn't mind carrying a mortgage).

Most nicer places, the owners want to cash out from a sale.