As banks will treat them?

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Lived in an apartment and needed money for the downpayment on a larger one for my family. The first apartment was for sale, just sitting, so I rented when the news has been completed. However, payments overwhelmed me. $ 1,650 to $ 2,350 in the first and again. I, the second agreement, the one where we live now friends behandeln.Auf the first apartment, I borrowed money for a mortgage loan for an additional payment on the second. The first mortgage is $ 145K, the amount of home equity is $ 35K. So I have a total of $ 180K, the market is now 159KAuf equity house, I can still write a check for $ 15K ……. at the time of issuance of the loan was worth more …….. Did I mention that my tenant just moved out, he was only good for $ 950 per month ……. Sun $ 1,650,950 unless its me $ 700 a month in the red. Now, the full amount of 1650 …….. This is a community of season, and the rental market is weak ….. The question is, if I check for the balance of $ 15,000 on the home equity of the first house on the left …….. Let the bank to write to the device again …….. what are they likely to do undWas they will do for me? The $ 15K in cash, which I clearly did not intend to pay, unless sold by a miracle, the device for $ 195 and I can lose everything and walk ….. If you have any input I would appreciate. thank you thank you from Florida: (

1 Comment
  1. Reply
    David M
    May 1, 2011 at 12:56 am

    You took a chance on the market holding up for you on the sale of the first unit and you lost. There is no easy way out of this mess you’ve put yourself in. I guess you have two choices here neither of which is very appealing. Try to rent the place out and accept less than $ 950 a month or be aggressive on selling the first condo and drop the price to where it will sell. You or the Mrs. will probably need to come up with a second part time job to cover the difference caused by either option. That’s the only way I see out. Good luck.

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