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Reply to "Tell me how to get out of my underwater house"
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[quote=Anonymous]I'm underwater on my condo in a "transitional" neighborhood in DC (Trinidad) bought in 2006 because I couldn't afford anywhere else. Owe about 184K on the condo, market value is probably around 160K. Have moved to Virginia (bought a house after DS was born) and rented the condo out. Taking a loss of $400 per month and sucking it up. Hoping to compensate some of it with my tax refund. Would I like to be rid of it? Not sure. It's a hassle to pay more than I have to every month, but hoping that eventually the balance will go down and prices will go up, and in the meantime I'm collecting rental income.[/quote]
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