Mr Clark Howard, my husband and I are great fans and follow your program.? Have a very good approach meaning to your advice and are extremely knowledgeable.? We hope you have an idea for us and would be able give important tips as well.? Our story follows.My husband is an army officer.? During his recent tour in Iraq (June ' 08-09 June), we decided to move me and our daughter back to Montana to be closer to family in the year.? We our WA House converted into a rental property and handed over a property management company.? He rented the first day, it was announced and it is to make our payment of the mortgage and then some.? We felt that it was a very wise move and a new route to secure our finances to retirement.? We had this great opportunity with this decision; We got a little overzealous and decided to do the same thing in Mt Si instead of leasing for the year while he was deployed, we bought a condo at Mt partially as a plan to have a place to return after he retired from the army in another 5 years and also to continue to build our "retirement plan".?? However, things didn't go smoothly this time.? We look at our benefits of loan use goes, but the condo is a not qualify for VA funding.? Instead of this, we took out a home equity line of credit of 40 K $ to use towards a deposit and then financed the rest through a conventional home loan.? After the year in Iraq, we have transformed the condo in a rental, but we lose ~$600/month (do not make our mortgage payment), we need even more from the original $40 K for the home equity credit line.?We are now renting a house in CA, while he is in position for the next 3 years.? This rent is scandalous, more both combined mortgages.? We have a daughter who is 4 and a baby on the way.? I will likely reduce labour after the second baby arrives.? We feel that things are a little tight financially and will be still more if I cut the return to work.? We think the condo MT was a costly mistake, but we think that we would take a huge success if we tried to sell it now.? We can even not to sell what we bought for, and then we have debt credit line home equity in addition to the loss.We have 240 k $ on a property and $255 on the other.? If you have advice, we would greatly appreciate it.?? Thanks much for taking the time to hear our story.Sincerely, the Tandes
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