How to Trade Your Mortgage for a Free and Clear House

How to Trade Your Mortgage for a Free and Clear House

Are you, or somebody you know, caught in the real estate meltdown? Is the mortgage now more than the value of your home? Do you still have some equity but few options of how to right the sinking ship?

Imagine for a moment that the value of your house or property, if sold, could be converted into the purchase of a brand new home that was paid for free and clear. And the taxes and insurance were one tenth the cost of what you are paying now.

Is this a dream? No, this is what is possible with a little flexibility on your part. How could this be? As you probably know, the reason that the value of homes and real estate have dropped so drastically is based on supply and demand. If there isn't enough land or homes in a given area, then prices will almost always rise. And the opposite applies as well. You can usually expect there to be a fall in prices when there is an over-supply of homes or land in a given area. This is what people are facing now. Nobody can buy houses so there is no demand and the prices keep falling. So as a buyer that could be good news if you have cash. But try and sell your home and for what you feel it should be worth and you might be waiting a while. Then when it finally sells at the price you wanted it means the prices have risen, and to buy a different home will cost you more as well. So, is there a way to do both? Sell cheap and buy cheap?

Did you know if you could sell your home for $150,000 there is a way to buy a brand new two storey, 2 bedroom and 2 bathroom masonry home and still have almost $100,000 dollars left over in your pocket? That is what some savvy retirees are doing. And some of them aren't even at retirement age. They are taking an early retirement and cashing in their assets and moving to where they can weather out the crisis or relax their days away without financial stress.

That's right. In places like Thailand you can live on $500 a month. So buying the home and having minimal taxes and insurance allows them to live a very long time on their retirement savings, pension checks or just off the sale of their assets. There are some prerequisites for living in a foreign country such as visas and such but these are very small obstacles considering the upside of living without worries.

So when the bills come in at the end of the month. Think about whether or not a home, some place like Southeast Asia is an option for you. For some people moving abroad where purchasing a brand new three bedroom, three bathroom home for $56,000 US Dollars is a smart move. It's a way to start enjoying life again instead of worrying about debt and bills. Maybe it's time for you to move where meals cost $1.50 each and a hot cappuccino costs $1.25. Remember, no matter how bleak things seem, there's always an option!

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