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When we honestly ask ourselves which person in our lives means the most to us, we often find that it is those who, instead of giving advice, solutions, or cures, have chosen rather to share our pain and touch our wounds with a warm and tender hand.

Picture of armywifeshannon
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Hi everyone. We own a house. We purchased the house 4 years ago, before my husband went active duty. We had the house for sale on the market for a year and a half and it just wouldnt sell. We chose to rent the house to pay the mortgage after PCS'ing 1300 miles away. 2 sets of renters later, these renters we have now have started falling behind on their payments. The last renters cost us nearly all of our savings cleaning up their damage and non-payment. Everything else we have will be gone really soon if these people continue to default.

We have never been late on a payment, but this isn't looking good for us. I have tried to research options for not loosing the house but I just cannot seem to find any. Honestly I dont know if we can afford to rent again. Its been a horrible situation thus far....

Any ideas???
 
Posts: 1851 | Registered: Sun 02 September 2007Reply With QuoteEdit or Delete Message
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Have you looked into having a property management company handle the lease for you?
 
Posts: 2230 | Registered: Thu 20 July 2006Reply With QuoteEdit or Delete Message
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Hand to God Shannon---if we were to PCS there, I'd rent your house!! Would TOTALLY solve your problems--guaranteed.
I sorry. I have no help here... Frown
 
Posts: 27472 | Registered: Tue 07 December 2004Reply With QuoteEdit or Delete Message
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A property management company was my first thought as well. Are you wanting to keep the property in order to move back into it at some point?
 
Posts: 855 | Registered: Tue 20 July 2004Reply With QuoteEdit or Delete Message
When we honestly ask ourselves which person in our lives means the most to us, we often find that it is those who, instead of giving advice, solutions, or cures, have chosen rather to share our pain and touch our wounds with a warm and tender hand.

Picture of armywifeshannon
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Keeping the house isn't nessacary. We would obviously be willing to sell it today. Smile

I've called property managment companies in the area. We hired one in the beginning but they couldnt find a renter for the house. It could of been the company.

When your in a bind your in a bind...
But renting out the house again scares the crap out of me. Are there any good renters out there?? Smile
 
Posts: 1851 | Registered: Sun 02 September 2007Reply With QuoteEdit or Delete Message
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Put it up for sale or offer it as lease purchase maybe. The good renters are buying houses before the lose the $8,000 tax credit.
 
Posts: 855 | Registered: Tue 20 July 2004Reply With QuoteEdit or Delete Message
When we honestly ask ourselves which person in our lives means the most to us, we often find that it is those who, instead of giving advice, solutions, or cures, have chosen rather to share our pain and touch our wounds with a warm and tender hand.

Picture of armywifeshannon
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I'm a little confused on the lease to purchase deal.

Basically heres why I'm confused. My house note is $600, Insurance $68.00, Plus ofcoarse property taxes, and I keep a home warranty on the house that I pay for yearly just in case something goes wrong. My confusion is, if I get $900 a month for rent..wouldnt that be the most I could get for lease to purchase?

Right now most of my house note goes to interest so I dont understand how to make it work with lease to purchase.

(I hope my question makes more sense to those reading it then it does to me LOL)
 
Posts: 1851 | Registered: Sun 02 September 2007Reply With QuoteEdit or Delete Message
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You are over analyzing it. If you do a lease purchase with someone in order to sell your home then you are the one who says what they are to pay every month. It has nothing to do with your current mortgage and expenses.
 
Posts: 855 | Registered: Tue 20 July 2004Reply With QuoteEdit or Delete Message
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