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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Voluntary foreclosure? Posted by Curt on August 04, 2001 at 5:51 PM Hello, I have a situation in which I currently owe 66,500 on a piece of property in Arizona worth approximately 88,000. It has a 1996 Double Wide Manufactured home on it, is five acres, and has its own well. My wife is in the Military and we continually move, making it hard on us to keep it rented to renters that will pay. We are getting tired of making the payments on the home, that we will probably never see again and want to get it off our hands. It is currently listed, but do to its unique location, it has drawn only minimal attention. However, it does rent quickly. My sister has been acting landlord, and the tenants just do not seem to pay. We have been considering doing a voluntary foreclosure but are concerned with the ramifications. Our credit has always been okay, and want the opportunity to buy a home later in the future. What are our options? I would sell the home for what is owed, but feel I would have to come out of pocket more to cover title and insurance fees, and we are tired of spending money on it. Please help. R/ Curt Follow Ups: Re: Voluntary foreclosure? Ward-CA- 9:37 PM, 08/04/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hello, I have a situation in which I currently owe 66,500 on a piece of property in Arizona worth approximately 88,000. It has a 1996 Double Wide Manufactured home on it, is five acres, and has its own well. My wife is in the Military and we continually move, making it hard on us to keep it rented to renters that will pay. We are getting tired of making the payments on the home, that we will probably never see again and want to get it off our hands. It is currently listed, but do to its unique location, it has drawn only minimal attention. However, it does rent quickly. My sister has been acting landlord, and the tenants just do not seem to pay. We have been considering doing a voluntary foreclosure but are concerned with the ramifications. Our credit has always been okay, and want the opportunity to buy a home later in the future. What are our options? I would sell the home for what is owed, but feel I would have to come out of pocket more to cover title and insurance fees, and we are tired of spending money on it. Please help. : R/ : Curt Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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