Venice, FL asked in Real Estate Law for Missouri

Q: Purchased a home in St Louis County years ago. Paid $120,000.00 and at the time it was a good buy. Property is rented.

Renters are not paying on time and ignore late fees. Still owe over $40,000.00. Told property is now worth less then $65,000.00 Do I let it go into foreclosure or what? Also told I have NO equity in the home. Not making any money and now the neighborhood, not far from Ferguson, Mo., is going down fast!

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1 Lawyer Answer
Kevin Webb
Kevin Webb
  • St. Louis, MO
  • Licensed in Missouri

A: You can evict tenants who are not paying rent. If you do so, you can often collect owed rent as well.

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