The house appraised for 76000 2 years ago. It sits on a 3/4 acre corner lot with fenced yard, storage shed, and an add-on room. I could probably rent it for 650 but I still would be under what the payments are each month.
I have a doublewide mobile home that will be vacant after July. I have a 376 payment on the first mortgage and a 400 payment on the second (we used the second mortgage to help build a house for ourselves.) The total owed is about $62000. I want to know the best way to at least come out even in the payments each month. I was thinking a lease option or owner financing but can I do this still oweing on the house? Any advice would be extremely helpful. Thanks!