Opinion on what is next for my condo! I put 45% down in 2004, now i lost my job, cannot pay hoa and mortgage

Asked by R. Davis, Miami Beach, FL Thu Apr 30, 2009

2 month so far. Cannot rent because hoa doesn't allow it when late with payments. Shortsale most likely would
not work because there are about 50 shortsales in our building that can't sell. Deed in Lieu wouldn't work
because the bank just won't do it. And i am afraid they will take my car which is paid for. Foreclosure is the
only option? Is there another step? (Modification was also denied twice). I live in the condo myself.
What should i do? It's on the market for sale for 131000 dollars and i paid 178000. Help!!!!

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