This is a second home and I can no longer afford it

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City: VIRGINIA BEACH
State: Virginia
County: City of Va. Beach
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This is a second home in Sandbridge with a first mortgage balance of $480,000 and a second mortgage balance of $165,000. Property is currently listed for sale for $695,000 with a realtor (6%), so I do not expect to have any proceeds with the sale of this property. At this point, it is just too expensive to maintain on a yearly basis, even when considering the rental income. My main goal is for there not to be a deficiency judgment that will attach to my assets. I do have money to keep paying the account, but it will drain my savings. So I'm concerned that the lender will not be willing to work with me as much, if they get an idea of what my assets are. First mortgage with Thornburg, and is due for the July 1 payment. Second mortgage with RBC Centura, and is due for the July 20 payment. Please To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.