My Q concerns a house in PA.,purchased originally in 2005for 165,500....still owing ,$134,400..At present I have tenants paying $800 on a month to month
which does not cover the loan modification of $860 plus the$75 per month onHOA,The tenants have not been ideal,ammasing littering and subsequent fines to me from the HOA
..The holder of the the loan is with Ocwen and I am behind 4 months.I purchased the house with only my name on the mortgage
and deed .
My wife is in school full time in Kentucky,I go back and forth to New York as a chef ,but not ideal...Work has declined .Renting in New York,Renting in Kentucky ,paying a mortgage ,wife in school ,and we have a condo in Florida which we are both on the mortgage ...
I have been in communication with Ocwen as to what to do with the PA property
3 options are 1 .Retain
2 Short Sale
3.deed in lieu
I feel 1 is out ,2:short sale is hard and drawn out slog
I need to do the right thing for us ,and also protect our condo as it's a tangible asset ...Hat should b email my next move ?Thank you for your attention