Asked by Steve, Haverhill, MA • Fri Dec 5, 2008
I purchased a condo in the summer of 2007. I have a 30 yr. fixed mortgage which I can afford the payments on but I think I am so underwater now that I could never sell for near what I owe on it. I have spent a lot of time and money improving the place but it still needs more. Next spring each unit in the association will be paying 10k to fix the roof and deck and I feel at this point any money put into the place will be lost. I am also getting married and would be in a position to upgrade. Is there or will there be any help for those of us who bought something we could afford but just had poor timing. I feel as though I'm paying the price for buying responsibly, I could have easily gotten a bigger and nicer place in a better neighborhood that I couldn't afford and now be helped out for it. I'm trapped! At this point I would rather be renting than trapped in this condo.
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