I need to sell our Near North Side condo asap, but I’m worried when it comes time to buy I won’t be able to get a mortgage given I’ve not been working in over 7 months. Thoughts?
___
AgentAnswers(SM) offers prospective Chicagoland home buyers and sellers a free, anonymous way to get general answers to their real estate questions from local Realtors(R). Consumers submit inquiries to us via Twitter or email, which we’ll post here at the AgentsCompared.com blog. Area real estate agents can then respond via the “Leave a Reply” field below.
Realtors(R) do not need to be registered with AgentsCompared.com to participate in AgentAnswers(SM). Just subscribe to this blog or our Twitter feed (see right hand column) to keep up with new questions as they are posted.
Want to check out previous AgentAnswers(SM) questions and responses? Go to the “Blog Categories” dropdown in the right hand column and select “AgentAnswers”.
You are correct, without a job you will have a near impossible time getting a mortgage. What would be your motivation for buying a new place if you do not have a job? Do you need more space? My guess is you will still be able to rent for less than a typical mortgage payment + Taxes + assessments on the north side of Chicago.
Every situation is different. I would be happy to talk to you about different scenarios and strategies. Feel free to call or email.
Eric Marcus ABR, CRS, CPA, CNE
ESM Realty
Your Real Friend in Chicago Real Estate
773-244-1110
http://www.esmrealty.com
esmarcus@sbcglobal.net