Can I qualify for another mortgage of a new home if I own a home underwater by 50000?

Tips and Deals Forums Home Mortgage Can I qualify for another mortgage of a new home if I own a home underwater by 50000?

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      Grthddcsaw
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      We need a bigger house, and we would like to rent out our townhouse and get a bigger house. We still owe about 150000 on our townhouse. We have good credit scores over 720 and steady jobs. We both have worked at our jobs for over 10 years. We would like a home in the price range of about 250000-300000 in the area we live in. (Chicago suburbs) Is it possible? What steps should we take?

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