Need to relocate-ideas (Hot Springs: sale, real estate, rentals)

[Goessman]

My husband and I live in Hot Springs village, AR and we are HAVING to sale and relocate due to my health issues worsening. With only one income now and 4 sons, and a firefighters pay, we are needing to do this asap. My children have went to the same school for 10 years so we don't want to move them from their school, however we need to sale our home in the village and find something more affordable outside of the village gates. This is what we need advice on: Our home is financed under my husbands name, we have had several interested buyers, however had to take it off of the market because, well we dont have the credit or money to finance another place until our current is out of his name and we are able to finance again... there are 0 places for rent outside of the village. we need something larger, and we have a little dog and most rentals dont accept pets here in the village. Has anyone ver heard of our situation and any ideas as to what options there are besides selling, renting and then buying..?? We would really like to do a rent to own until financed and that would let us sell then finance but I'm sure that's an immpossibility. Thank you in advance!!

[brightdoglover]

There is a loan called a bridge loan that I think applies to people in your situation. Maybe you should post in the personal finance forum as it doesn't sound specific to one state. Best wishes.

[Goessman]

Thank you!

[Goessman]

Although, I'm not certain of how to move my post from this to the finance or real estate forums? Can anyone help?

[Hollynla]

I've never heard of this issue before and I work in the real estate industry. When applying for new financing, the lenders take into account if you are selling your current home and they will not count that monthly expense against you. If the home is under contract with a buyer, they will usually ask for a copy of the contract. Your closing for the home you are selling would have to take place before the closing on another home. This happens every day. I'm not sure where you got your information from, but you should probably talk with someone else.

[twinkletwinkle22]

Does your husband need to live within so many miles of his job, some FF and LEO are required to.
You may have to remove some of your "must haves" in order to make this happen.
Some school districts will let kids continue even if they live outside the district. Go talk to them and write down their names.
Make sure your husbands job will be OK with a move.

After you have gotten those ducks lined up then you can draw a map of where you could move to.
I understand a rental may be hard to find but in the countryside they allow dogs much more. You and family might like it there too, rental or even purchase.

Good luck. Take it one step at a time and you can do it.

[Goessman]

Thank you so much, the country is where we want to be, my husbands dept allows him to live within reason, I really appreciate your replies!