ok So We bought this house...

[DCJenn]

Craigslist.

TONS of responses.

J.

[ladymoreta]

How many years will the fellowship be? If your house doesn't sell, of if you're not sure you'll be in the fellowship location for at least 5-6 years, you might consider renting. Sure, you miss out on the equity and the tax incentives, but it's less risky than ending up with 2-3 house payments. (3, if you end up moving to a third location after her fellowship.)

[bokelley]

Craigslist.

TONS of responses.

J.

That is how we found our home during these clinical years. As far as being able to sell, I think that is the fear that everyone has, that knows they might be moving in a few years. But since you have 3 years a lot can change. I wouldn't stress out about it to much. Just watch the neighborhood and see how fast houses are moving.

[Phoebe]

Moving sucks. Period.

i agree... i hate moving... and the next move will be out of state thats very different from moving around the city

How many years will the fellowship be? If your house doesn't sell, of if you're not sure you'll be in the fellowship location for at least 5-6 years, you might consider renting. Sure, you miss out on the equity and the tax incentives, but it's less risky than ending up with 2-3 house payments. (3, if you end up moving to a third location after her fellowship.)

no way we'd end up with 3 payments i refuse! we will rent during those fellowships years before that happens

I guess I don't see the reason to stress about this now when you still have 3 years. With the way the economy is changing who knows what its going to be like in 3 years - there are plenty of other things to stress about.

That is how we found our home during these clinical years. As far as being able to sell, I think that is the fear that everyone has, that knows they might be moving in a few years. But since you have 3 years a lot can change. I wouldn't stress out about it to much. Just watch the neighborhood and see how fast houses are moving.

im more upset because i feel like this was a business deal that has gone completely wrong. like i wasnt giving all the information up front! i was told half truths... like she knew all along that she would want to move but lied to me so id agree to buying this house

im paying for it anyway, so ive already told her if we cant sell it when we need to me and the kid will stay here while she goes off and does the fellowship thing

[Meenah]

im paying for it anyway, so ive already told her if we cant sell it when we need to me and the kid will stay here while she goes off and does the fellowship thing
__________________

Some people actually do this.

You know if she has been in residency for not even 4 months then she has no clue what fellowship she is even qualified for. She probably still has to take her last step and then will have to pass her boards in residency. It takes a long time to prepare for the fellowship, so if she found programs out of state, you would have plenty of time to figure out when to put your house on the market. But - you should already know that. And, I think you are the first person who said they didn't like physician loans, sounds like someone doesn't know what they are. Perhaps you should get some help from an attending within the residency for resources when the time comes...

whats so great about those loans? cause to me there wasnt nothing outstanding about them at all...

[Deebs]

If you can get into one, they can be as good as no money down, competitive interest rate, and no PMI. Doesn't get much better than that. As i said in a previous post, though, many of these have disappeared with the housing market crisis. With an attending's salary, we're nervous about finding our next mortgage in a year because of the amount of student loan debt DH has sitting on his credit report. This will be our third mortgage, and it's never been a concern before.

[Pollyanna]

You know if she has been in residency for not even 4 months then she has no clue what fellowship she is even qualified for. She probably still has to take her last step and then will have to pass her boards in residency. It takes a long time to prepare for the fellowship, so if she found programs out of state, you would have plenty of time to figure out when to put your house on the market.

This is true. Dh was planning on an entirely different fellowship when he started residency. Things can change over the course of training, it's hard to know where their passion lies right off the bat.

If you can get into one, they can be as good as no money down, competitive interest rate, and no PMI. Doesn't get much better than that. As i said in a previous post, though, many of these have disappeared with the housing market crisis. With an attending's salary, we're nervous about finding our next mortgage in a year because of the amount of student loan debt DH has sitting on his credit report. This will be our third mortgage, and it's never been a concern before.

unless they're giving loans away with 2-3% interest i dont see how their so great... we bought our house 2yrs ago and have a 4.25% interest rate. now PMI does suck but its not much, i can see how those loans might appeal to some but it really wasnt that deep for me to be like OMG... i see how they can help, but for the most part right now when we're not buying a big/huge home that would require a ginormous down payment i just didnt feel it would be much of a difference

[Phoebe]

Hopefully once all this goes down, the whole shock of wanting to move for fellowship will have worn off. It sounds like you have been blindsided. Sorry about that. Take some time to let it sink in.

[poky]

And keep in mind that you're talking to a lot of people who've had to move 4 and 5 (if not more) times for their spouse's career. 99.9% of people don't get to do undergrad, med school, and residency all at the same place. You've been really really lucky so far.