Help Please! Bad Investment Gone Terrible

**realestateadvice** · 11-05-2010, 03:45 PM

Hello Everyone - Thank you for taking the time to read this. I made a really bad investment decision way back in 2006 by purchasing an investment property in Atlanta, GA. The property was worth about $350,000 back then. I bought it so I could rent it out.

Now, the property value has gone down about $100,000 and is now worth $250,000.

I'm having a really hard time finding a tenant and it's becoming really hard to make the payments. I've already been behind 5-6 times. Needless to say that it has really affected my credit score.

Any advice on what I can go to get out of the worst decision of my life would be greatly appreciated.

Thank you!

**agentsranking** · 11-06-2010, 09:54 PM

Have you considered trying to do a short sale? Why not just let it go into foreclosure? Is the loan a commercial loan that's personally guaranteed? Is the bank a small local bank or is it a large national lender? Do you care about your credit? Do you have assets that the bank might be able to come after if you default?

If you can provide some additional information regarding your situation it will be easier for us to provide some assistance.

**dohardmoney.com** · 11-08-2010, 02:43 AM

You can easily get out of this problem by taking loans from hard money lenders if you are interested in lending money then I suggest you to go for DO Hard Money they provide you real estate loans with no down payment ...Do Hard Money is a Short-term Real Estate hard money lending company ...you get Hard Money Loans from Do Hard Money Within 48 hours.

**realestateadvice** · 11-08-2010, 01:03 PM

Thanks for your response. I appreciate it.

I have considered doing a shot sale but I heard that the lenders can still come after you for the rest of the loan amount. The loan is an residential investment loan. It's not a local bank but it's a decent size lender.

I do care about my credit but obviously it's getting seriously affected. Now I just want to get out of this stress and start over!

I do have some assets that the bank might be able to come after like family savings and other things.

Originally Posted by agentsranking

Have you considered trying to do a short sale? Why not just let it go into foreclosure? Is the loan a commercial loan that's personally guaranteed? Is the bank a small local bank or is it a large national lender? Do you care about your credit? Do you have assets that the bank might be able to come after if you default?

If you can provide some additional information regarding your situation it will be easier for us to provide some assistance.