Coldwell Banker Cocoa Beach Realty
Tom Eason, Pruitt Real Estate, Inc.
I have 35 years of local experience. Call me.
Daignault Realty, Inc.
Are you taking advantage of all the tax benefits the propety may provide to you?
Also, have you spoken to your lender to see if they can modify the terms of the loan to lower the payments?
Think about it before you defualt...
If you walk, that is, stop paying everything, you stop the bleeding financially.
You could try to short sale, do a deed in lieu if foreclosure or just let the bank take it back and end the nightmare for yourself. There is no incentive for your bank to assist you and it may take literally ten or more years of paying to maybe get to zero.
I find people that are creative and go through a short sale or foreclosure to get their life back do just fine.