cant afford my condo and cant sell it

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twebb272

Jul 13, 2012, 06:34 PM

Life changes and cant afford my condo anymore. The bank sent information offering a modification which has been more of a nightmere than 3 other buying and selling of houses. Started the process in Jan and it is now July. dont want to go through a forclosure and market value is a good $20+grand less than I owe. Can I just surrender it back to the bank

ScottGem

Jul 13, 2012, 06:43 PM

Only if the bank will accept it.

Fr_Chuck

Jul 13, 2012, 07:36 PM

Agree, you may ask the bank, but why should they ? Are you offering to pay them additional money on top of it

Have you asked them about trying to sell it on a short sale ?