Johnny Tsu
Need help with my under water mortgage
I "invested" a single family house back in 2005 in Norwich CT for 130,000 with 1% down. 5.25% interest rate. Monthly mortgage payment now is $1150 includes insurance and property tax. Rental income $900. Until today I...
Leonid Sapronov
Spousal mortgage, underwater property - what to do?
Hi all! Here I go again, reaching out for communal wisdom. Asking for a friend, who is in a tough spot: her husband passed away unexpectedly, leaving behind a rental property that is under water. It's rented and just ...
Jon Mizuno
Underwater property 100% occupancy, loan modification pending
HI All, I have a 'single family' property in Hawaii that has been underwater for 5 years as Ive been applying for a loan modification since then, with no success so far (Ive reapplied multiple times). It's fully rent...
Account Closed
gain on sale of underwater rental property
Hi all- My tenant has just moved out and I would love to sell one of my rental condos. I bought in 2007 as my primary residence for $190kI converted to a rental in 2013 with an adjusted basis of $70kI can now sell fo...
Andre S Walters
Finding Houses Under Water (Foreclosure, SS, etc)
Hey Guys,I'm still a newbie to the real estate business, but I do have a quick question...I went driving for dollars today and I created a list of 37 potential properties in just under 2 hours worth of driving...My qu...
Randy Coffren
On the water, under water in Bmore!!
I met with a seller today of two pieces of waterfront property in Baltimore county. The property/properties are side by side, and can be sold individually or bundled. The issue is, there is a delapotated apartment...
Margaret Webb
Property in preforclosure and loan under water
Hi all, I found a house on my jogging route that really interests me. It just went into pre foreclosure with an auction date in 3 months . The title is in the name of a husband and wife. The husband died in 2008 an...
Chad Rupp
Keep my underwater property or dump it?
I would love your advice. Should I keep this property or dump it?I have a condo in Algonquin Illinois (3 bed, 2 bath, 1890 sq/ft) that I had bought for $265k in 2006. The current comps for this property are around 185...
Mineto Anfield
Sell my underwater residence or rent it
BP friends,
The unit beside me was sold to our city's housing authority and the tenants have been horrible. Several complaints and nothing done.
I want to sell, but I'm underwater. If I rent my place I would have to c...
Irwin Ayala
Need help! My first property is underwater!
Hello! I'm a new investor seeking help with a long term situation. While I was I the service, I was stationed in Valdosta, GA. I purchased my first home in March 2008 through a VA loan (0 down payment) for $159,000 w...