Purchase single family house in 2007 paid 260,000$
Put 30,000$ in renovation in it in 2008
In 2009 I moved to Fort Mcmurray and since I was not able to sell my house I decided to rent it. (1200$)
Mortgage payment are 1600$ a month and mortgage renewal is in 2012.
Would you keep the house rented even if it is not covering the whole mortgage payment or would you try to sell it now and pay the pre-payment penalty?
Put 30,000$ in renovation in it in 2008
In 2009 I moved to Fort Mcmurray and since I was not able to sell my house I decided to rent it. (1200$)
Mortgage payment are 1600$ a month and mortgage renewal is in 2012.
Would you keep the house rented even if it is not covering the whole mortgage payment or would you try to sell it now and pay the pre-payment penalty?