jclarksnakes
Full time employment: Posting here.
- Joined
- Jun 2, 2006
- Messages
- 927
If the house absolutely cannot be sold because of location in a financially declining area how can it be worth $150K? My old fashioned thinking says it is only worth the amount it could actually be sold for. OTOH, if the house is really worth 150K and she can only get a lump sum of 100K out of an RM she is walking away from 50K right from the start. Seems to me like it is time to think outside the box. Instead of a bank or mortgage company getting the house at such a discount how about selling it to someone within the family and letting auntie stay in it for as long as she is able?