Back to Results
Well, I need some advice on this. I have a rental property, which is a practically brand new home. It was finished built in 2008 in Port St. Lucie, FL. Here's my dilemma, as with many people facing the same, my renters cannot afford the mortgage, but can only afford less, which I cannot afford to make the payments on the mortgage difference that the renters can't afford. I have my property mortgage to pay too, and I do not live in FL. I'm considering selling the house, and I am 2 months behind on payments now. I think I have to sell, because this is stressing me out. How do I have to go about asking the bank about short selling. My house mortgage is more than the value of the property.
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
As someone else mentioned, you could try to get a new paying tenant for the property if you can make up the missing months.If you cannot, you might try doing a "Loan Modification" on this property, but do find an independent company to represent you in doing this. Do not go directly to your lender. Remember that the lender is not representing you.This company can also help you Short Sale the property if the bank will not accept a Loan Mod.Just keep in mind that a SS stays on your credit for a few years, so if you want to avoid that, the best bet is to find a more reliable tenant
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $149,000
For Sale: $70,000
For Sale: $126,000