Legal Question in Real Estate Law in Connecticut

I purchased a 10 acre parcel of undeveloped land via owner financing about 7 years ago. Since that time my plans have changed and of course with these tough economic conditions the property is not worth half what i purchased it for. What would be the best way for me to go about trying to return this property without missing payments and forcing a foreclosure?

Asked on 7/03/14, 5:31 am

1 Answer from Attorneys

James Aspell Law Office of James F. Aspell, PC

Is it still financed by the former owner? If so, a short sale is unlikely. If there is equity and you just want to get out, then it would seem all you can do is try and sell it at a loss. Not many good options that I see.

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Answered on 7/03/14, 7:06 am

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