They aren't going to magically improve and start abiding by the lease terms but I think there is definitely a possibility that the situation gets worse.I think that's a good point.

But, that is not always the right answer and you should speak with someone familiar with your personal situation to get advice specific to you.Don't forget about getting your estate plan in place and ironed out as well. 

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

I would think you should approach some local banks and see how they will handle your situation.

But, nobody knows because we have never come across a situation like Detroit, .

I’m happy to help in any situation.

For example, in Kansas they have the 14/30 (basically you will rectify the situation in 14 days and if not you have 30 days to depart i.e. before you can file eviction).

what does your current financial situation look like?

We are the renters in this situation but we did not discover the discrepancy and how it was all calculated until after we signed the lease.

Looking for feedback from folks who have been in similar situations and have lessons learned or advice, as I am just getting started and this is literally my first post.Wife and I moved out of our first townhouse and rented it out to grow our family 3 years ago.