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re: underwater on a real estate loan
Posted on 3/26/12 at 11:44 am to ZereauxSum
Posted on 3/26/12 at 11:44 am to ZereauxSum
Mine's underwater by about $50k. Any advice other than foreclosure?
PS. My renters do basically cover my rent, so its not so bad right now...unless they were to leave.
PS. My renters do basically cover my rent, so its not so bad right now...unless they were to leave.
1
Posted on 3/26/12 at 11:56 am to Htown Tiger
Adding a twist to Htown Tiger's hypothetical... I know a guy with an FHA mortgage that is under about $50K. Negative cash flow from renting is about $400 a month (so he claims so more likely $600 lol).
I couldnt find an official govt program to help him as it is an investment property. Any ideas all mighty ones?
I couldnt find an official govt program to help him as it is an investment property. Any ideas all mighty ones?
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