Quote:
Originally Posted by JERRY2KONE
It was either that or file bankruptcy on it. I wish it was so we could reap great benefits from it. With the market crash the mortgage is upside down by about $100K making it impossible to sell without losing even more, and the rent still does not cover the entire mortgage
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I was not aware of that. That's very unfortunate but what you did was probably the best solution so you can keep the property and keep it from depreciating even more. Nevertheless, I'm sure all the work you did brought the value up. Have you had it appraised by an agent just to find out how well you did?
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