If applicable, I would contact the agency that backs the loan ie. fha/va
Hopefully,I would sell the house that costs more to maintain and brings in the most from the sale. Ideally, I'd keep the one I'd prefer to live in anyway.
I would keep the insurance money and pay for repairs myself. I find it better for me to find better deals and still get th repair work done.
I would start doing a for sale buy owner to keep selling costs down. However, this may be a challenge if it goes into default. The loan guarantor may require an copy of the MLS listing. No matter the market conditions or doubts from other people, I would keep the mindset to deal from a position of strength. Whatever happens happens. I'd do the best I can to look out for my own interests. I would approach anything with the mindset that I have all the time and money I need. Of Course, I do. This takes the emotion out of the decision making. I would keep asking myself "What is the next/best course of action for me now?" The rest will work itself out. |