gotta get out

Posted by james IKE on December 07, 2002 at 11:45:51:

I have a house in buffalo ny.2-2 double, that i bought15 years ago. fha assumable at 10.5%, for 30,000. And i still owe 15 yrs on this 30 yr mort.the house is now only worth a couple thousand because of the area.Icant sell it,ive tried for years its listed now,improvements it needs cost more then house is worth.Sowhat do i do? Iown my own home, and cottage, so if i let them foreclose what will happen to me. Ive heard 7 years of bad credit, thats ok if that all they do. but i cant put my family at risk, Ive heard of short sale and deed in luie of foreclose,but have been told you cant do that to fha loans,pay m7t bank now. can anyone help me, Im desperate,Ive evicted the last bum and im going to leave it empty for awhile, to think.. HELP,HELP email me

Follow Ups:

• Do a lease option purchase deal... (url) - Edward Nolan (Ohio) 18:52:29 12/07/02 (0)

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: I have a house in buffalo ny.2-2 double, that i bought15 years ago. fha assumable at 10.5%, for 30,000. And i still owe 15 yrs on this 30 yr mort.the house is now only worth a couple thousand because of the area.Icant sell it,ive tried for years its listed now,improvements it needs cost more then house is worth.Sowhat do i do? Iown my own home, and cottage, so if i let them foreclose what will happen to me. Ive heard 7 years of bad credit, thats ok if that all they do. but i cant put my family at risk, Ive heard of short sale and deed in luie of foreclose,but have been told you cant do that to fha loans,pay m7t bank now. can anyone help me, Im desperate,Ive evicted the last bum and im going to leave it empty for awhile, to think.. HELP,HELP email me


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