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Help me…

So here’s our terrible situation. My husband bought a townhome in 2022. I want to start with: This is a financial decision I never would have made and had he and I been more serious at the time I would have begged him to not buy this place. But we weren’t and now here we are.

To start he paid 20-30k more than anyone in our neighborhood did EVEN IN 2022. He just let his realtor take him for a ride and didn’t do any research or negotiation himself.

So now in 2025 we are trying to sell. He’s in the Navy and we have to move March of 2026 to somewhere else in the US. We have a new baby and with the amount he paid for this place on top of HOA fees, and a property manager fee (I don’t know why we pay this but it’s required by HOA apparently.) we cannot afford to rent this place out.

We owe $256k on our loan. Our house is currently priced for sale at $275k. Someone in our neighborhood just listed our exact unit with similar upgrades at $240k. I’m thinking we probably won’t get a sale unless we are also at $240-$250k. We have to move next year no matter what and we cannot rent this place as mentioned before.

We have never missed any payments and if he wasn’t in the Navy we would just stay living here to pay down the principal. What do we do? I’m considering a deed in lieu of foreclosure. We have a realtor but doing a short sale I wouldn’t have any cash to pay her anything or the buyers agent anything. Short sales also take forever and with other properties for sale in my neighborhood why would anyone choose the one going through that mess?

I know everyone on here is going to say the price is the issue. And I know it is. I know we need to lower it by probably $20k AT LEAST. But we can only do that by doing a short sale because we don’t have the cash to cover the shortfall. HELP!!! Advice is so needed.

submitted by /u/justanotherrchick
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source https://www.reddit.com/r/RealEstate/comments/1ju9avn/help_me/
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