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Please tell me there is a way to get out of my loan without bankruptcy and/or foreclosure.

I owe $170,000 on my Fort Lauderdale villa that is valued at $48,000, my HOA fees are $400 per month, my pool is condemned every 3 months, tennis courts and gym are unusable, in January HOA fees go up to $523 and in 2 to 3 years I will owe a $78,000 assessment for exterior repairs/updates and windows. What are my options? Please tell me there is a way to get out of my loan without bankruptcy and/or foreclosure.
  • November 18 2012 - Fort Lauderdale
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Answers (3)

Here is a blog post about short sales - maybe helpful. http://www.boulderrealestatenews.com/short-sales-in-boulder-colorado/ .  I recommend speaking to an attorney that specializes in real estate as well as another that focuses on bankruptcy law.   You may also want to take a more involved and calm interest in your Home Owners' Association.
  • November 26 2012
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Please contact me and I can assist you in finding a QUALIFIED short sale agent in your area.
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From California???

Quite frankly, It reads that your home owners' assiciation is heavily in the red. There won't be available financing for anyone to buy there if that's the case which means a shortsale won't help you.

The assessment will probably scare off  most anyone else.

  • November 18 2012
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That is a frustrating situation.  I can try to help you find someone in your area that is highly qualified in SHORT SALES.  If you are able to qualify that might be your best way to get out of the situation that you are in.  Are you currently delinquent on payments?  Have you discussed if you would qualify for a modification with the owner of the loan?   Please contact me and I can assist you in finding a QUALIFIED short sale agent in your area.
  • November 18 2012
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