I’m hoping you can point in the direction where I can get some assistance. Long story short, I’m retired AF (retired in July 2010) and own a home that I purchased in 2003 when I was on active duty. As a result of a permanent change of station move while on active duty and a divorce 2005), the home has been vacant for two years, in need of repairs (which I can’t afford) and is unsellable and un-rentable in the current condition. Additionally, the home has a second lien taken out in 2004. My wife also owns a home that is vacant right now, but will be rented soon (we hope). I can afford the payments, but it seem like money is going down the drain. I know there’s a moral (and legal) obligation to honor the contract I signed, but I’m trying to find options on how to get it in condition to rent until I can at least pay off the second mortgage and try to sell it for the balance of the loan. I’ve even looked at sel ling a portion of my military pension to raise funds.
Should I continue making payments that are going no where? Is there a program out there that can help?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Retired Air Force Member In a Mortgage Pit After a Divorce. - Cortland by Steve Rhode