A Creative Way to Get Away From a Big Mortgage – A House Swap

fremonttrade.jpgWhile surfing through Craigs List today, I noticed something that hadn’t caught my attention before.  One family was advertising a large home for swap with a smaller home, presumably with a smaller mortgage too!

This home, which is in Fremont, has a killer kitchen and very nice exterior facade.  Trading with someone who wants to move up seems like a sensible option, provided the new buyer can pay the difference as the ad states that each should buy each other’s homes. 

Intrigued, I then noticed a link on Craigs List entitled House Swap. I found many home owners listed here trying to do the same thing.  In some cases, like this homeowner who lives in Livermore and just wants to move to Fremont, swappers are trying to shorten their commute.

In other cases, swappers appear to be looking for an entirely different experience, and are trying to swap homes here for homes in another country or vice versa.

The trend appears to be new, but makes sense.  If you have a mortgage you can’t pay and don’t want to wait for a buyer, why not find someone with a smaller home you can trade with?