Posted on: 10th Jan, 2010 10:58 am
Owe $350,000. Mtg. pament $2,250 per month; property taxes $15,000 per year.
large home (13 rooms) in an upscale area.
Home looks good from outside, but needs major repairs, such as all new windows, some plumbing and upgrades.
payments are up to date as of Jan. 2010.
Permanent loss of income. Can't continue to make payments or I'll become destitute in a year, with only $2000 SS as income.
Homes in good repair in the area for sale in the $400-500,000 range (some lower) have been on the mkt for over a year and not sold.
I can't pay the mortgage and property taxes any longer.
Bankruptcy, forclosure and poverty-level income are all that is left. I'm 70.
large home (13 rooms) in an upscale area.
Home looks good from outside, but needs major repairs, such as all new windows, some plumbing and upgrades.
payments are up to date as of Jan. 2010.
Permanent loss of income. Can't continue to make payments or I'll become destitute in a year, with only $2000 SS as income.
Homes in good repair in the area for sale in the $400-500,000 range (some lower) have been on the mkt for over a year and not sold.
I can't pay the mortgage and property taxes any longer.
Bankruptcy, forclosure and poverty-level income are all that is left. I'm 70.
Simple, if you stop paying then find someplace else to live.
Re-visit your listing price. If it has been on the market that long, it is either priced too high or your home is not staged right. Meaning, you have your junk all over the place, it is dirty, needs updating, set up in a way that does not appeal to the majority, etc etc
If you clean up the place and price it just below the other homes in the area, then it should sell.
Re-visit your listing price. If it has been on the market that long, it is either priced too high or your home is not staged right. Meaning, you have your junk all over the place, it is dirty, needs updating, set up in a way that does not appeal to the majority, etc etc
If you clean up the place and price it just below the other homes in the area, then it should sell.