Joyfullyblessed Posted April 29, 2013 Share Posted April 29, 2013 Hello, Is it at all possible to sell your home, and rent out another while unemployed? The only debt we currently have is our home. We don't really enjoy this house and would love to sell. However, DH is out of a job currently. It would be great to sell the house, & just rent another for a bit. The plan being that when DH does get a job, we have no home to have to sell and could easily purchase a home at that time. I know, it sounds crazy. We are just curious though. :) Thanks! :) Quote Link to comment Share on other sites More sharing options...
alef Posted April 29, 2013 Share Posted April 29, 2013 I don't think I would try to sell under those circumstances, though I can understand the desire to. Best wishes for your husband finding a job soon! Quote Link to comment Share on other sites More sharing options...
Um_2_4 Posted April 29, 2013 Share Posted April 29, 2013 Depends where you are maybe? Here in CA , it would be really hard to rent, maybe with a cosigner who had "perfect" credit score? But on your own, nope I don't think you could rent, unless you wanted a really bad part of town in a nasty complex that didn't care about credit scores/employment or if you had either Sec 8 (housing assistance) or 6 mos cash rent up front. Many places here won't rent without a cosigner if you have been at current work less than 6mos-1 year. Quote Link to comment Share on other sites More sharing options...
DianeW88 Posted April 29, 2013 Share Posted April 29, 2013 You won't be approved to rent if you're unemployed. Quote Link to comment Share on other sites More sharing options...
RebeccaS Posted April 29, 2013 Share Posted April 29, 2013 Shortly after my first dd was born, my dh lost his job. He looked for many months with no success. Our mortgage at the time wasn't bad, but we didn't want to be locked into the area we were in. We sold the house and rented a tiny house. Dh was just drawing unemployment and we had excellent credit (plus $ in the bank from the house sale). I will forever have a soft spot in my heart for that tiny little Italian woman who took a chance on our little family and rented to us. :wub: The area we found wasn't that terrible and the house fit our needs perfectly until we ended up moving so dh could take a job (which is where having sold our house already came in so handy). Quote Link to comment Share on other sites More sharing options...
Parrothead Posted April 29, 2013 Share Posted April 29, 2013 If you have enough money, you won't need a credit check. But I don't suppose you are independently wealthy. Maybe if you sell your house and pay six months rent up front you could do something like what you are thinking. Quote Link to comment Share on other sites More sharing options...
TravelingChris Posted April 29, 2013 Share Posted April 29, 2013 YOu could do this if your house sale comes with a profit that would pay your rent upfront. Otherwise, unless you have some other big source of income, like a retirement pension, I don't think so. It is too risky since you may not find anyone who will rent to you. Quote Link to comment Share on other sites More sharing options...
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