Quote:
|
you should have stated this up front, as this is the first post you have made on this thread which states what your goal is.
|
I fixed the original post to reflect this. Sorry, I did a poor job with my explanation.
Quote:
|
If the market had you losing $450/month on the property, why enter the market in the first place?
|
Again, I did not fully explain this in my original post, my apologies. I fixed it.
We purchased this property as our home 3 years ago, not as an investment. We moved out 10 months ago and have been renting it ever since. The lease is up in a couple of months and we're contemplating selling it, mostly because of the recent rate adjustment which increased our mortgage by $350. Yes it loses $450/mo but that's only in the last 2 months, we tried to refinance but the 30yr fixed didn't make much of a difference in the monthly payment, I think it came in at $1340 instead of the current $1400, plus we'd have to pay closing costs to refinance.