Posted by John Corey on June 10, 2006 at 07:01:50:
Lets clarify something.
You can realize the equity without getting a loan. One way is to sell and capture the difference between the price you can buy for and the price the property sells for.
Are you living in the property?
Do you intend to continue living in the property if you can obtain financing?
In broad terms how does your credit look. Lack of a job is not going to stop all lenders. You may still be able to get a loan. It will be at terms that are less favorable than if you had a job.
Any reason you will not find a job soon in the same profession? If you do find one the issue of changing jobs is minor.
If nothing else works would you consider selling and walking away with something as opposed to having the option expire with and you ‘lose’ the potential equity?