Ok so me and my husband bought a house together about two years ago it was old and not perfect but we had all these dreams of fixing it up...well that never happened, could never afford it. Well then my husband joined the army and we are based in germany, we both know we will never live there again and we just want to get it sold (the mortgage is killing us) but we have had it on the market forever and it hasn't budged, we cant lower the price any, cause we are already selling it for just what we owe and we can't afford to fix it up any (plus we are in another country and can't be there to do anything) so does anyone have any suggestions on how we can wash our hands of this house before it forcloses on us?
2007-06-24 10:06:57 · 2 answers · asked by cynical girl 2 in Business & Finance ➔ Renting & Real Estate
Your only options are to sell at a loss over what you owe and pay the difference to the lender, or to hold on to the property and start renting it out.
The real estate market in the United States is generally very weak right now. Market values in many cases are less than people paid for their properties, and less than they owe on them.
Even though it is bleak consolation, you are FAR from alone in this situation.
2007-06-24 14:54:21 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Consider Renting it out....Find a local real estate agent and see if they have any affiliations with a property management company. Good Luck.
2007-06-24 17:21:27 · answer #2 · answered by Bobby Boy 1 · 0⤊ 0⤋