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With the state we are in with the economy I guess my frustration is right now not being able to sell my current home.  We have endless homes in our neighborhood just sitting there and nothing taking place.  Should we hold off until things get better or try renting out the house?  Any thoughts we be great, I live in Michigan.

With the housing market as saturated as it is I would say keep the home as long as you can afford to.  There is no easy way out of anything right now and the market is not the best for home sales.  It might be a long time before you find anyone who is interested in paying what the house is worth.

I think it’s true that you don’t actually take the loss until you give up ownership of the house, assuming it’s not worth what it once was.

Hopefully you can hold onto it till a better market trend comes around.

Have you been a landlord before?  I know quite a few people that ended up spending more than renting out saved them!  Good luck!