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cant afford my condo and cant sell it

Asked Jul 13, 2012, 06:34 PM — 2 Answers
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

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ScottGem's Avatar
ScottGem Posts: 58,102, Reputation: 28145
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#2

Jul 13, 2012, 06:43 PM


Only if the bank will accept it.
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Fr_Chuck's Avatar
Fr_Chuck Posts: 72,607, Reputation: 37026
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#3

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 ?
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