All Forum Posts by: John Leschber

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.

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.