Asked by Susan, Haverhill, MA • Mon May 11, 2009
the market right now for $299,000 and not selling. My other property I bought for $265,000 w/ $ 50,000 down . I owe $205,000 but it is on the market for $197,000. I wish to stay in the first property but need to sell one property because I can not afford to carry them both. I was thinking of renting the $199,000 condo to get out of this problem.That would mean contributing $500 per month to cover the mortgage. I am not sure I want to be a landlord. I have also applied for loan modifications for both but the process is taking so long...... Any suggestions?
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