Posted on: 18th Oct, 2010 10:08 am
I purchased a second house 4 years ago in Fl for investment purposes. I have had a tenant from day 1. Recently they stopped making payments and I cant afford to make the payment. I am 4-5 months behind and the mortgage company will not take a partial payment. (Bank of America). I want to get out of this house as it is underwater. I owe 145K and cant sell it as there are SO many houses for sale. I paid 180 K HELP!!!
Hi thomasbass!
Welcome to forums!
You can list the property in the market and check out if you can get buyers for the property. If you get a good buyer, you can sell off the property. The sale proceeds can be used to pay off the lender and if there is a deficient balance from the sale, then you'll have to pay it off from your own pocket.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can list the property in the market and check out if you can get buyers for the property. If you get a good buyer, you can sell off the property. The sale proceeds can be used to pay off the lender and if there is a deficient balance from the sale, then you'll have to pay it off from your own pocket.
Feel free to ask if you've further queries.
Sussane