Posted on: 11th Feb, 2009 11:01 am
I am 63 years old,just lost my job with no prospects of replacing the income.I have a primary residence with mortgage bal of 184000,second home with mortgage bal of 84000,and vacant land mortgage of 43000.I have no savings and very little in a retirement account.I would like to dispose of the primary and vacant land.I live in FL. The primary residence mortgage is about what homes of my class are getting on short sales. The vacant land is almost impossible to even give away. If I signed up for SS I still could not handle all three payments.I can manage the payments on the second home and plan to move in there.I am currently collecting unemployment.
Any suggestions would sure be appreciated.
Any suggestions would sure be appreciated.
Only you can make the decision and determine if it's time to walk away from these properties.