Before you buy again when you're in the military, be very careful to analyze how hot a market you're moving into is.
QUESTION: Nicky’s husband is in the military and they moved over the summer. They had bought a house in the spring, so now they are renting their New Mexico house for 75% of the mortgage. Should they sell it?
ANSWER: Get rid of it. Before you buy again when you’re in the military, be very careful to analyze how hot a market you’re moving into. If it’s not going up in value and it is difficult to sell, you might not want to go there. Get the house sold, even if you do take a hit on it. If you do that or work with the mortgage company on a short-sale, that’s what a lot of companies are doing. You’ll also have to work with your tenant as well, to get them to agree to move or sell the property.