Home Selling in Lehigh Acres>Question Details

Jean, Home Buyer in Lehigh Acres, FL

i build a duplex in lehigh acres costing 215,000 . i cannot get it sell the tax is 5,000. should i let it go?

Asked by Jean, Lehigh Acres, FL Fri Sep 12, 2008

Help the community by answering this question:


simply you should never just let it go, you should contact the bank for a loan modification or forebearance if you can make payments but your current ones may be too high. if you do not have the ability to make payments than ask for a short sale or if you do just want to gove up ask for a deed in lieu of foreclosure. good luck in what ever you do, i hope things work out for you.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Dec 26, 2008
You're going to be given a lot of advice - Let me give it to you straight - If you can't afford to hold on to your property - there are several options - such as refinancing or a loan modification - even a possible "short sale" - of course your lender has to cooperate and actually want to help or you can go to another lender who is qualified and willing to help you modify your loan - basically working on your behalf - of course this is done for a fee - but in the long run - it may benefit you in terms of holding on to your property and paying out less money - You need to find the lender with the expertise and energy to do that - hard thing to find around here - even with the bailout money some of these banks have gotten - a lot of them have just stashed it away - with no plan - no accountability - it's a joke - Ultimately speaking - it is your choice wether you "let it go" or not - if you choose to do that - at least explore your options first
0 votes Thank Flag Link Fri Dec 26, 2008
Hello Jean, There are alot of homeowners and investors in the same situation, your upside down in your mortgage, you cannot sell in a declining market and you have the upcoming tax liability, makes you want to pull your hair out, but this is the cycle of the real estate market. When its up everything is good, everyone is happy, but when its down, well I don't have to explain the downside. Let me ask you this, Is your duplex rented? Are you generating some income? If you are then your doing alot better than most, if not let you may need to consider it. I am a Real Estate Broker and Property Manager here in Lehigh Acres and I would like to sit down with you and evaluate your current situation. Please contact me anytime, there is light at the end of the tunnel. God Bless!
0 votes Thank Flag Link Mon Sep 15, 2008

We are sorry you find yourself in this position. "Letting the property go" should be considered as a last resort and it appears you have not exercised other options.

The bottom line is there are serious implications involved with going the "foreclosure" route that you should completely understand.

But for now, contact a Trulia agent that will assist you in understanding your options.

Good luck,
The "Eckler Team"
Michael Saunders & Company
0 votes Thank Flag Link Sun Sep 14, 2008
You've got two great responses.
I suggest talking with a few Realtors and finding out your options.
I'd be happy to refer you to a top Realtor who knows the local market trends and values so you can find out your possible moves, pros and cons of each.

You can contact me via my Trulia profile or call 1-888-284-2056
0 votes Thank Flag Link Sat Sep 13, 2008
Keith Sorem, Real Estate Pro in Glendale, CA

You may want to consider a short sale. I would be more than happy to speak with you about this possibility. As the previous answer states, you do not want to just let this foreclose.

Yours in Success,

Susan Milner
0 votes Thank Flag Link Sat Sep 13, 2008

I would never just let a property go, the bank will surely come after you. There are many options available to you, please give me a call and I can go over some of them with you so you are educated before you make any bold moves.


Scott Riddle
0 votes Thank Flag Link Sat Sep 13, 2008
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