Have a serious problem can u help?
December 23, 2006 12:26am CST
Two older friends of mine purchased a house 1 year ago costing way more then they could afford. The house also needed alot of work. Now 1 year later they have agreed they can not afford the home. They relisted it with a realator and the two offers they've received won't cover what is still owed. Now their saying they aren't going to make any more payments on the house the bank can take it.
• United States
23 Dec 06
It is not good idea. They can ask for housing assistance if this house is only place they can stay. Second option is to take intrest only morgage payments and try to sell it asap. This way they are not going to loose money, and they will gain some.