Posted on: 02nd Jun, 2010 11:03 am
Can I hand my Florida "holiday let property" back to the bank- I'm in negative equity at over 110,000 usd and losing money monthy 1800usd which I can't sustain because I can't get enough rents
Welcome Afoy,
It will be the bank's discretion whether or not it would take over the property. You will have to contact your bank and may have to short sale the property in order to get rid of it.
It will be the bank's discretion whether or not it would take over the property. You will have to contact your bank and may have to short sale the property in order to get rid of it.