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?
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.