I am underwater on my Briarcliff row.

Asked by Iris, Glenolden, PA Wed Jun 20, 2012

I plan to sell in 4 years when I retire. I've been getting advice from friends to just abandon now rather than keep paying.Bought in '07 for $155K. Added A/C and deck and other less expensive improvements.

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Ron Thomas, Agent, Fresno, CA
Wed Jun 20, 2012
Your car is underwater too; you planning on selling it too?

Homeowners are not used to this situation:
But the situation needs a better perspective;
Could you RENT a comparable place for what you are currently paying?
Can you afford your current mortgage?
Then it doesn't matter what your house is worth!

The damage and expenses of a Shortsale or Foreclosure would far exceed your loss on "paying for a dead horse". In four years, you should be able to re-coup.

This, added to the fact that you have gotten it fixed up like you like it: right?

Good luck and may God bless
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