Legal Question in Real Estate Law in Florida
Ready to Give Up
We bought a house 2 years ago intending to move, but the first house never sold. We have been struggling for 2 years with 2 mortgages, and double costs of owning 2 homes. Out of desperation we listed both homes and dropped prices (2 yrs ago) but to no avail We've depleted our savings and are trying not to run up credit card debt although this is getting harder. We've talked to the banks and they wont help or talk to us until we are deliquent. We are being personally destroyed financially. I doubt a short sale would work as we have ZERO offers and next to nothing in the way of activity. We dont want to destroy our excellent credit but we are really getting desperate, losing appox 40,000 year on this. Looking into rental at the moment but the rent amount would only be a portion of what we are losing.
We are considering just walking away out of desperation, as we are barely making the bills each month. I am afraid that since we are not deliquent the banks wont approve anything in the way of short sale or deed in lieu of. Please help. Thank you.
1 Answer from Attorneys
Re: Ready to Give Up
Maybe it is time to think about filing for bankruptcy. Contact us if you need furher assistance. We can help you make the best decision.
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