Monday, April 13, 2009

Upsidedown in Your Mortgage? Think Outside the Box

Before the economy went South, "house-swapping" was an ideal way to vacation inexpensively and/or learn more about a different geographical location. Nowadays, people who must move, but are carrying an upside-down mortgage, may have another option besides short-selling and/or foreclosure.

Yes, it does involve extra research. True, you may not get your "dream home", but when compared against foreclosure, swapping houses could be a viable option.

A few sites to help you get started: Online House Trading,
Domuswap and Go Swap.

Don't forget to check Craig's List too. Look under "housing" in the area you are interested in and go to the section labeled "house swap."

Necessity is the mother of invention!

Think outside the box!

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