But we have to pay half of the mortgage. We have trouble paying and were planning to just file bankrupcy.Is it a good idea?Its hard to sell those property now a days in Tampa.Anyway we also own a townhouse were we leave is that gonna be affected?How many years our name gonna clear up? Who do we need to talk?I dont want to do this.
2007-10-25 07:07:46 · 6 answers · asked by shebang 1 in Business & Finance ➔ Renting & Real Estate
You need to speak to a bankruptcy lawyer & get his/her advice. They advertise in the yellow pages. Nobody here can advise you.
2007-10-25 10:02:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
hi, did u ever think of renting out your condo with housing authority? u get your rent money right on time no matter what. all u need to do is talk with the town housing authority because they have a list of families that need a place to rent. also u can go to a real estate office & tell them you want to rent out your condo & they will screen all the people who r looking to rent a condo & then the real estate office will charge a fee in the rent like $30 a month & u don't have to worry about collecting the rent they do it for u & send it to u every month. u shouldn't have to file bankrupsy if u do 1 of these things. if u do file then it takes 10 yrs. to clear your name also it shouldn't affect your townhouse where u live unless it is the otherside of the townhouse that u r trying to rent out. if u live next to the other side of the condo where u want to rent out then it would affect u. so try 1 of those soulotions that i told u before u think of filing ok? i'm sure u won't have a hard time getting your place rented. bb,nobrethequeen
2007-10-25 07:18:23 · answer #2 · answered by nobrethequeen 5 · 0⤊ 0⤋
With the new laws for filing bankruptcy you may not meet the requirements. Try to refinance or sell it. Find out if the renters want to buy it? Talk to the mortgage company. bankruptcy is not something that you would want to do unless you had no other options and you do even though you may not like them. Why do you have to pay half the mortgage? Why didn't you rent it out for the full amount?
2007-10-25 07:57:43 · answer #3 · answered by KM 3 · 0⤊ 0⤋
Call the mortgage company and work out a deal. Do not wait until foreclose. If you also own a townhouse, filing for bancruptcy, you may be forced to sell that also.
Find a Fl housing counselor at the following HUD (housing and urban development) website. Be careful of private companies.
http://www.hud.gov/local/index.cfm?state=fl
2007-10-25 07:16:29 · answer #4 · answered by RmW 2 · 1⤊ 0⤋
as far as I knew, position of living homes are many times owned by one social gathering, and all and distinctive residing there's a renter. apartment's would nicely be owned for my area and the proprietors stay in them and some apartment's do not enable renting
2016-10-22 23:43:12 · answer #5 · answered by ? 4 · 0⤊ 0⤋
10 years.
Dont do it.
Call one one of those we buy houses places.
sell and cut your loses.
2007-10-25 07:11:12 · answer #6 · answered by Fuzzybutt 7 · 0⤊ 0⤋