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2nd home

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Icon Mini Profile thomasbass1





Joined: 14 Oct 2010

Posts: 3

1.58 Dollars($)
Post Posted: Mon Oct 18, 2010 10:08 am    Post subject: 2nd home
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I purchased a second house 4 years ago in Fl for investment purposes. I have had a tenant from day 1. Recently they stopped making payments and I cant afford to make the payment. I am 4-5 months behind and the mortgage company will not take a partial payment. (Bank of America). I want to get out of this house as it is underwater. I owe 145K and cant sell it as there are SO many houses for sale. I paid 180 K HELP!!!
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10439
Location: Alaska
985.83 Dollars($)
Post Posted: Mon Oct 18, 2010 10:26 pm    Post subject:
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Hi thomasbass!

Welcome to forums!

You can list the property in the market and check out if you can get buyers for the property. If you get a good buyer, you can sell off the property. The sale proceeds can be used to pay off the lender and if there is a deficient balance from the sale, then you'll have to pay it off from your own pocket.

Feel free to ask if you've further queries.

Sussane
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