I have an investment property in Florida. I have paid all bills and mainaied the house.

Selling would not realise the mortgage debt.

Is foreclosure an option or I will have to borrow another 30k to pay the difference in sell price to mortgage outstanding.

Is there any way of avoiding recourse.
I am a UK resident

Thanks
Mike

Most of us believe the market on houses will improve over the next couple of years, so if you can hold on to the home for another two or three years you may have better luck at selling it.

You also may see if the lender will allow you to sell it on a short sale where they accept lesss than full amount