What are my options in this economy??!?!?
by Mortgage Rates on Friday, November 12th, 2010 | 2 Comments
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This is why I’m not going to get married. :3
Wow. 190,000 ? May I ask where you live? The 2 bedroom 1 bath house with a HUGE yard that I am looking at is only about $25,000 .
Anyhow, sorry that I can not offer legal advice. But I would like to comment that although it is bad that he is renting to his friends without a lease – it is good that the payments are at least being made. Have you tried talking to them about signing a lease to continue renting? I know that renting isn’t the way you want to handle the condo. It’s such a pain! But at least for the time being, the payments are being made.
If you don’t get good advice here and if you can’t afford to speak with an Attorney, I would go to the bank (or wherever you got your loan) and let them know about your situation. Perhaps they can give you some sort of advice.
p.s. I know that reselling the condo would be a big hit too. But having to pay $500 per month that you can’t afford (or whatever it would be) is better than paying $1600 per month that you can’t afford. (Although, at that price – I would consider getting a room mate of my own & moving in to it if he stopped being able to keep up with payments.)