mortgage problem- We are an elderly couple that lives in Florida. We have two houses. One is pd for in full. The second house is our problem. We are presently receiving $700 per mo rent for it which barely makes the expense on it. we owe $130,000. on the balance. We pd $160,000. for it and we would be lucky to sell it for the $130,00. it is on an adjustable rate mortgage and if the interest rates go up, we will not be able to pay for it. We will never be able to pay it off due to our age & limited income. does anyone have a suggestion for us on how to get rid of the is house.
Its never too late to ask.
Placing an ad in the newspaper saying you want someone to take over the payments of your rental with the help of an Atty or a reliable RE office.
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