We bought a house last August and have been trying to sell it since December. No-one seems interested (the house is a little unusual). We cant afford the mortgage (which is one of the reasons we are selling, plus we are expecting a baby in October) and are close to defaulting on payments. We cant drop the price on the house as otherwise we will owe the bank (who are already going to charge us $7,000 as a penalty for repaying early), plus the estate agents fees, settlement fees etc mean we are already selling it at our lowest price. I am getting very depressed at being stuck in a house I really now hate, with what seems like no way out. We really need to find a solution in the next few months. Has anyone any idea whether you can just hand a house back to the lender and walk away? We will already be losing $50,000 in what we have put into the house, but it will be worth it to get my sanity back. Any ideas?
2007-05-22
16:20:43
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9 answers
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asked by
cherry6autumn
2
in
Renting & Real Estate