a_kraker99

possible options to get into bigger home?

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This is my current situation. My wife and I own a photography business and have a studio with rent/utilities totaling around 900 a month. We currently own a smaller home that we most likely cannot sell for more than what we owe since we bought it before the crash.

What we want to do is find a home that we can merge our photography studio into to save some money. We would rent our current home out but as far as I know there is almost no way we can get another loan for the second home even though we know we can make the payments. Are there many people out there that would do long term land contracts/privately held mortgages?

Its just frustrating when you know you can make something work but the banks wont lend because people before you ruined it.

Does anyone have any other solutions that might work for us?

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You could look into a deed-in-lieu or a short sale. The bad thing is, those will dent your credit.

I'd contact a real estate lawyer to see what your options are.

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