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Handing house back to bank

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Afoy Joined: 02 Jun 2010 Posts: 1 1.26 Dollars($)	Posted: Wed Jun 02, 2010 11:03 am    Post subject: Handing house back to bank Like 0 Dislike 0 Can I hand my Florida "holiday let property" back to the bank- I'm in negative equity at over 110,000 usd and losing money monthy 1800usd which I can't sustain because I can't get enough rents
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Wed Jun 02, 2010 9:31 pm    Post subject: Like 0 Dislike 0 Welcome Afoy, It will be the bank's discretion whether or not it would take over the property. You will have to contact your bank and may have to short sale the property in order to get rid of it. _________________ Procrastination is the enemy of your financial success

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