Updated almost 17 years ago on . Most recent reply
We are stuck with a newly built house
My husband and I have been doing this pre-construction thing since '05 and didn't know real estate would take a dump. We built one for 230,000 and now it's worth 190,000!! Holy Crap, how what? Our mort. payment when house is done ( one week away)is almost 2,000 a month and nothing over there is selling!! We paid our upfront closing costs etc. and are already out 19,000 which we refinanced our own house to do! Leasing out will only bring in 1200 or so a month. Is there anything we can do to be rid of this house without ruining our lives? There are 65 other houses just sitting there.
Please advise.
Thanks