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Updated over 12 years ago on . Most recent reply

Dean Letfus's profile image
Dean Letfus's profile image
Dean Letfus
  • Specialist
  • from Memphis, TN
  • Member since Nov 11, 2012
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Dean Letfus's profile image
Dean Letfus's profile image
Dean Letfus
  • Specialist
  • from Memphis, TN
  • Member since Nov 11, 2012
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Dean Letfus
  • Specialist
  • Memphis, TN
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Real Estate News & Current Events

Is there a solution for underwater houses?

Dean Letfus
  • Specialist
  • Memphis, TN
Posted

I have seen several homes this week where sellers are all current on notes but house is slightly underwater. They don't want to short sale as it will affect their credit.
Is there any solution to this? Anyway to get control of the property and make it profitable?
Example:
House value 80K
Mortgage 89K P and I at 5%
Will rent for around $1050 a month?

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