Legal Question in Real Estate Law in Nevada

I own a rental property which was originally my primary residence. I owe more than it's worth. The mortgage is $2,400 & the rent is $1,400. I can no longer afford the difference out of pocket. Will my lender work with me, or not because I don't live there? Do I simply stop making payments, or call my lender first?


Asked on 11/19/10, 6:02 am

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Lenders are going to do much for you when your upside down that much. I'd just walk away.

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Answered on 11/25/10, 2:17 am


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