Laid Off

Expert, localized Los Angeles answers provided by Heather Roy

Laid Off
	We have been in our home 3 years this september. Our home is too big and we want to move to a smaller one. Since the purchase of this home, I have been laid off. Would it be difficult to sell our home and get into a smaller one?

	Selling is pretty easy if you set a fair price. But buying is another matter. I don't know enough about your situation to judge whether you could qualify for a new mortgage loan. But unless you would have enough actual cash to buy without a new mortgage, I don't see how you're going to buy another home. If you're managing to meet your mortgage payments, you're probably best off just staying put till you get a new job.
	Edith Originally published on June 20, 2009

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