ruttster asked:


My parents have a 1st and 2nd mortgage on their house. They are getting older and cannot take care of or afford the house. The house needs a lot of work. Is their away to give up the house without having to pay anything to the lender?This is in New Jersey.

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Eileen asked:


How much house can I afford if…

Okay so let’s say I live in a 600,000 dollar house that I am planning on selling. I also make 200,000 a year. How much house can I afford? Just a general idea.
the family is 2 parents and a kid. 200,000 is what both parents earn together.
bought the house in 1994 for 250k. the other houses on the block that are the exact same size and same look as our house sold for 600k so prob. around there.
this is about my family and my house.
i don’t know much about real estate. i’m only 15.
i’m asking people we were driving down this street of really nice houses. and i was wondering if my dad could afford one of them.

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