Upside Down Since 2008

[Michael Curran]

Just wanted to see what some people who have been in the business for a while have to say about my situation.  My brother and I brought a house together in 2007.  I feel like we finished signing on the last dotted line and the market fell apart. Since, we have both married and purchased our own personal residence.  It is rented out but we both have to come out of pocket about 450.00 a month.  As long as it is rented we have just rolled with the punch's but we have thrown around the ideas of short sailing it but both of us have good credit and don't want to jeopardize that or take the chance of having leans put on our house.  We know there probably not a lot of options but just figured I would put it out there and see what kind of advice is out there.

[Cody Campbell]

Im fairly new, but the situation you discussed seems the property does not cash flow, not necessarily that your upside-down in the property. Lots of markets have turned since 2008. What do you owe on the property? What are the comps in your area? Whats that size of the house? What do a house  of that size rent for in your area? Lots of unknowns. Give us a little more info so we can help you figure this thing out. @Michael Curran