How to get out of a mortgage?

I am wanting to move my mom out to the city where I live because she currently lives in an EXTREMELY small town where there are no opportunities for her.





She is currently buried in mortgage payments and I am wondering what her options are to get out of it. I don't really know any of the details...I know it was for around $100,000 and she is making $1000 payments each month.How to get out of a mortgage?
Well, very difficult to sell her house right now. Might want to start making plans for future. . . plan to sell house next spring if market is better.





Without knowing her equity in home, how many years left on mortgage, difficult to advise. Can her home be rented for enough to cover mortgage? $1000 is large rent for small town, and large for that size mortgage. What kind of loan does she have? How long has she had it? Maybe she can refinance under the new laws or the Countrywide settlement?How to get out of a mortgage?
I would go see a finical planner- it's worth the money. I am guessing all of her bills and credit cards and everything is a mess, it's very rare when it's just the house....


They should be able to give you advice on how to clean this all up. She most like will have to sell the house.
Your mom can give the house back to the lender, but the lender would have to agree to that. She could also sell the house. She could also rent the house if the rent she is able to charge is the same as the mortgage payment amount or more. Good luck.
Sell the house and pay off the mortgage. This is the correct way to do it.





Any other way is dishonest and will cost her her credit, she will owe the balance and the IRS will tax her.





Or you can rent the place out until the market improves.



You cannot just give a home back to the lender, they don't want it. You can sell it rent it, or be foreclosed on the later being the worst as you credit will be shot making it hard to get any other place
Her option is to sell the house and pay off the loan.