I'm sure that I am not the only person thats facing or will be facing this issue. With the housing market so bad what plan or protection doces the Army have in place to protect soldiers from foclosure due to PCS orders. I am in a fenced unit and will be PCSing in May, when I first moved to my current duty location the real estate market was great. Now the market is flooded with foreclosure homes. Honestly I am very afraid because I know that my Bah will changewhen iI PCS and there is no way that I can pay rent and morgage on my E6 salary. Is ther any relief out there?

I would try to rent it out.

quote:

Originally posted by DOLO:
Is ther any relief out there?

No, only if the posts closes.

You can either sell your house by owner (which I did in 2007), have a realtor sell it for you or you can rent it out.

If you sell by owner, you'll make out the best.

It's very costly to hire a real estate agent when you're paying 6% of the selling price to your agent. You may end up "paying" to sell your home.

Renting is a nice option, but it may cost you in the long run. Yes, you're having someone else pay your mortgage (in theory), but if anything goes wrong with the house, it's on you. You may have to hire a property manager which may cost you about 10% of the montly rent price. If you can't sell by yourself, this may be the best option because many people do not qualify to buy houses now.

I feel for you. When we PCS'd to Huachuca four years ago the market was great and the waiting list for on post housing was long (we were number 110). It was cheaper to buy than to rent so we bought our first home. I know when I get back from this deployment my days are numbered at Huachuca and I can only hope I can sell this house in a reasonable amount of time.

I'd get it on the market as soon as you can and price it as agressively as you can realizing the market isn't what it used to be just a few months ago.

Edit: My bad, didn't realize this post was almost five months old.