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Probably a dumb question, but it can't hurt to ask


Joyfullyblessed
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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! :)

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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.

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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).

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