Reply To: Underwater homeowner
Thanks for the advice, you’ve got a good handle on this. We are both over 62. I think I might could get an additional $100-150 per month. I have wondered if the current tenants might want to entertain a lease-option or rent-to-own deal. If not, if I ever sell again (to someone else), trying to market the property with tenants occupied is probably less than optimal. That is a whole situation in itself…do I vacate the tenants and try to sell without assistance from months of rents payments?
Anyway, I’ll pursue the refi route, as we can put up the needed monies to demonstrate ability to repay, and see where that goes.
Encouraged in OR.