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Jun 24, 2018
11:58
:43
am
Stringer Bell
Contributor
Repairs are tax deductible.
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Stringer Bell
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Stringer Bell
Joined
Jun 13, 2014
Last login
Apr 26, 2024
Total posts
1,215 (0 FO)
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Messages
Author
Time
Have a home I am renting out - I wanna get rid of it. Can I just stop mortgage?
jrifkin48
6/23/18 10:06pm
Very crazy. Do you have a management company running it for you?
VACOUGFAN
6/23/18 10:08pm
I do have a property manager...but the wrong renter is still a risk
jrifkin48
6/23/18 10:19pm
Yes, you're crazy. That's not a "credit hit". That's credit suicide for
Manti
6/23/18 10:08pm
Why not just pay for a property manager then? It's got to be a better option
BlueBlitzkrieg
6/23/18 10:09pm
I find it hard to believe that in this market you can’t find a buyer
cougarfann888
6/23/18 10:09pm
It's a military town. Everyone is there for 3 years and moving on
jrifkin48
6/23/18 10:16pm
Drop the price 'till you get interest. Even below what you think it's worth is much better than that.
soupie
6/23/18 10:10pm
RE: Have a home I am renting out - I wanna get rid of it. Can I just stop mortgage?
LiveCoug
6/23/18 10:14pm
Is this a joke?
ClackamasCoug
6/23/18 10:16pm
Sell it to the property manager.
Veracruz
6/23/18 10:21pm
I did bring this up, but they didn't bite. They said the roof was an issue...
jrifkin48
6/23/18 10:27pm
Did State Farm have a legitimate reason for denying the replacement of the roof?
David Lo Pan
6/23/18 10:38pm
So reduce the price a little to compensate for the new roof.
Veracruz
6/23/18 11:21pm
At least wait until someone actually does trash the house right?
Grit for Brains
6/23/18 10:25pm
Repairs are tax deductible.
Stringer Bell
6/24/18 11:58am
yes, you're crazy, on multiple levels.
Incentivize
6/23/18 10:28pm
You need to see if your state allows lenders to get deficiency judgments against
Josef K
6/23/18 10:28pm
Also from a contract perspective, isnt it short sided to not fulfill your side
BlueForLife
6/23/18 10:30pm
His part of the bargain is set in the contract if he can't fulfill
kotacoug
6/23/18 10:39pm
There are plenty of contracts I can technically get out of but don't
CSoul
6/23/18 11:03pm
if the bank doesn't want the house in the case of a default, then they are stupid to sign the contracts they do. The
HarlemCoug
6/23/18 11:46pm
"Can do" is different that "should do".
shimmy
6/24/18 12:03am
Thanks for that lecture on the legal details of a mortgage. Because I
CSoul
6/24/18 12:13am
people shouldn't feel that for some reason they are morally obligated to pay their mortgage at all costs. That
HarlemCoug
6/24/18 2:20am
My self justification is the house is clean, new appliances, in good shape...
jrifkin48
6/24/18 7:27am
after 12 years, you can't sell the house for more than the mortgage? And... is the house cash flow positive? (or
HarlemCoug
6/24/18 8:10am
Someone else should bite on owning a home in a hot rental market.
VACOUGFAN
6/24/18 6:17pm
Sounds like a good idea to me.
BIG XII Coug
6/23/18 10:34pm
Give it to me
Cougar TD
6/23/18 10:35pm
You could definitely sell the home at SOME price, and selling at that price is most
Clark Addison
6/23/18 10:43pm
Keep cashing rent checks up until the foreclosure
NSFW
6/23/18 10:43pm
Lol
thebruce
6/23/18 10:52pm
You're not crazy, you're just unethical.
shimmy
6/23/18 11:06pm
Love the holier than though types on here.
Cougfourlife
6/24/18 12:56am
CB as a whole said the same thing Shimmy said in 2008. Interesting that some
macaroni
6/24/18 4:33am
That's me. My view from up on here on Mount Pious is amazing.
shimmy
6/24/18 7:09am
Do you still owe more than you can get out of it?
jaromp
6/24/18 12:51am
Why not just sell it for less? After 12 yrs, you can recover some equity right?
OPINIONS
6/24/18 8:28am
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