Tags:
Jeff,
If only money grew on trees and "find[ing] the money to pay the difference" was that easy! Yes, we got a nice discount on the new home, but that doesn't translate to cash in our pockets. The first thing we are going to do is try to get the HOA to allow us to rent the unit. We don't have a "hardship" per se, but if we can't rent it, then we will simply foreclose or short sell and lower the property values even more. If there wasn't an HOA and this was just another house on the block, then we would just rent it out and there wouldn't be a problem. I think it is lame that the HOA would force us to foreclose in this case...either that or they would be forcing us to stay in the condo which opens up some civil liberty issues. I think it is in the HOA's best interest to let us rent it. They may see otherwise, though. We don't want to be permanent landlords and will sell it as soon as we can. We'll try to pitch a rent to own lease to the HOA board if we need to.
© 2024 Created by Brett Goldsmith. Powered by
Short Sale Superstars, LLC and www.ShortSaleSuperstars.com does not endorse the real estate agents, loan officers, attorneys, real estate brokers and other participants listed on this site. These real estate profiles, blogs, blog entries and forums are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a short sale. Short Sale Superstars, LLC takes no responsibility for the content on these pages that are written by the members of this community.