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Real Estate
Reply to "Knowing when to cut your losses"
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[quote=Anonymous]We just struggled with a very similar decision. We own a townhouse, and we decided to actually move back in. I wanted to sell and be done with it - I don't want to live there, and it is a matter of time before we have a huge expense of having to replace A/C or something like that. But we would barely cover the mortgage and the agent's fee - and if it doesn't sell fast or for the price we need, we do not have much cushion to cover the expense. We decided to move back in, refinance to lower the payments (we can't refinance it as an investment property), and take our time to sell it. Not what I was hoping for, but better than ruining our credit...[/quote]
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