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i just skimmed over this, but:
1). She's owned it for 15 years? That's a lot of invested capital and difficult to "walk away" from.
2). She lives in one unit? So 3/4 is probably business and tax deductible.
3). Only 2 of the 3 other units are rented? Fix/Rent the last one asap! That's wasted money and income.
It sounds like she's going to be losing her home, and business.
There's a lot on the plate.
She needs to sit down with someone for a few hours and figure out her rental income vs. loan payments.
Make a list.
Then add it up.
A few hours spent vs. an entire life-style change. Moving sucks.
(btw- FK that bank. There are others in the phone book which can fulfill that contract on better terms, and make things right again.)
Last edited by john70t; 09-29-2012 at 01:35 PM..
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