Nate, I'm sorry, I show two one bedroom condos for sale in Keego Harbor and one sold during the past 90 days. The one sale was for $55,200 and was a foreclosure. Not that values haven't dropped in your complex but it may not be as much as you think.
I suggest sitting down with your agent and have them outline your options. I doubt your lender would allow rolling over any loss to a new condo or home, but only they could tell you for sure.
If you have some type of retirement plan through work, I suggest finding out your options. It may be possible to borrrow on a 401K the amount necessary at closing. Some 401K's allow repayment over 5 years.
Your mortgage contract would stipulate if you are allowed to legally rent out your condo. I suggest reading the fine print before committing fraud.... more