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Guest

I posted this before but feel the need to revise it. I have 14 investment properties and many of them are upside down with what the rent is and mortgage payment. They values alos have declined on many to not allow for a sale to get rid of this problem.
any suggestions and or ideas?

kpatrick · Posted: Sun Nov 09, 2008 8:16 pm Post subject:

Well RL,

You are in a tough spot. Depending on the location, and how long it would take you to break even...your best option is to raise the rents and hang in there, if you can.

Good luck,
Kim

jameshogg · Posted: Sun Nov 09, 2008 10:26 pm Post subject:

Hi rl!

I agree with Kim. It will be better if you can rent those properties. This will help you in paying off the mortgage. I feel this is the best option that you have right now.

Thanks.

Guest

i am renting tehm but it can not cover the mortages enough

jerry · Posted: Mon Nov 17, 2008 5:14 am Post subject:

Hi rent!

I think you should speak to the lender and check if you can go for the option of deed-in-lieu foreclosure. This will help you to ease the debt to some extent. But it will be the discretion of the lender whether he will accept it or not.

Thanks,

Jerry

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