How do I deal with an investment mortgage that’s going into collections?
Bought an investment property in Detroit and unable to find a stable renter. Lender won’t foreclose or do a deed in lieu of. $69000 owed on mortgage even though house is definitely not worth that now. Lender threatening to send it to collections. House is and has been on the market for months.
By: lisamj
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Filed under Personal Finance by on Jul 28th, 2010. 