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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] rental foreclosure Posted by jd on August 11, 2003 at 4:13 PM My husband and I own rental property in Detroit (what were we thinking!) and are having a hard time keeping good renters in the units, we are not sure if the real estate office/investment group we were involved with sold us property over cost or if the economy has effected the prices in the area (we purchased pre 9-11). We have had agents come out and tell us that we never should have paid that price in that area. Now we don't know what to do and would like to sell and be free and clear without messing up are credit, but its a hard sell in the city of Detroit especially with tenants who will not let anyone in to do a walk through to see if they do want to purchase. We do not want to claim bankruptcy and have heard about pre forclosures but are not sure what happens with that. We have other rentals in another city and own our own home and do not want those assets to be taken. Is there a way to foreclose without losing other property? We would appreciate any good advice we can get, and thank you in advance! Follow Ups: Re: rental foreclosure Lughead 9:06 PM, 08/11/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : My husband and I own rental property in Detroit (what were we thinking!) and are having a hard time keeping good renters in the units, we are not sure if the real estate office/investment group we were involved with sold us property over cost or if the economy has effected the prices in the area (we purchased pre 9-11). We have had agents come out and tell us that we never should have paid that price in that area. Now we don't know what to do and would like to sell and be free and clear without messing up are credit, but its a hard sell in the city of Detroit especially with tenants who will not let anyone in to do a walk through to see if they do want to purchase. We do not want to claim bankruptcy and have heard about pre forclosures but are not sure what happens with that. We have other rentals in another city and own our own home and do not want those assets to be taken. Is there a way to foreclose without losing other property? We would appreciate any good advice we can get, and thank you in advance! 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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