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  • Profile photo of tonigtonig
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    @tonig
    Join Date: 2008
    Post Count: 2

    We moved from NSW to QLD with my husbands job in December and put our house on the market then. 
    The are paying our rent here for 6 months but with the interest rate rises interest in the property has dropped considerably so we believe we would have reduce the price to an unacceptable level.

    The house and mortgage are currently in my name and I don't work.
    We have credit card debt that we were hoping to clear with the sale of the house.

    We have approximately $240,000 in equity in the house.

    The rental income from the property would not cover the cost of the mortgage but would cover the cost of a rental property here in QLD.

    If anyone has any advice, information they can give to help we'd greatly appreciate it.  Ideally if we rented the property out we would like to buy one up here but am not sure what is or isn't possible.

    We are aware that we should put the house and mortgage into both names if we rent it but again don't know what this involves.

    Sorry really long post but I'm paniking a bit:-)

    Toni

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