Negative Equite in Rental Property. Refinance Question. Please ...

Business decisions should be based on the numbers. ?IF the numbers don't add up, you can exercise your put option. ?Meaning, you have a contractual obligation to pay the lender and if you don't they can take the house.

When you are upside down by 75k on a property that is worth less than 350k (estimated), it may be a better financial decision to let the lender take back the house. ?Only you can determine if that is your best course of action. ?Remember, the lender is looking out for their own interests, not yours. ?Perhaps you should consult with a Realtor who specializes in short sales or an attorney who can help you with the analysis.

I work with a law firm that provides a free consultation for homeowners who are underwater. ?Please let me know if you would like to schedule a consultation.

Source: http://www.zillow.com/advice-thread/Negative-Equite-in-Rental-Property-Refinance-Question-Please-help/461337/

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