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Upsidedown on Condo |
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I own a small condo that I am upside down in and cant rent it for what the mortgage is.My family is growing and I would like to buy a house, which I have already been pre-approved for, but I can't get rid of my current home , how should I go about getting out of it? |
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I wish I had an answer for you. The only thing you can do is try to negotiate with your present lender. Ask to talk to their workout department. Sometimes they're willing to work with you to make your mortgage payments easier to handle.
But mostly, all I can offer you is sympathy. You'll probably just have to stay where you are and ride it out, or else sell and make up the shortfall on the old mortgage out of your own pocket. |
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Edith
Originally published on May 2, 2008 |
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