My question involves real estate located in the State of: Florida
I am a co-owner of investment land. The county is forcing us to sell the land for road improvements. They are offering about 15% of what we bought the land for.
The problem is not that we are losing our land for a significant loss, it is that I have a mortgage on the land. With this offer, I still owe the bank about $20,000.
I have tried to negotiate with the bank and also asked the county to increase they offer to satisfy my mortgage. Unfortunately, I have hit a dead end with both.
What else can I do? Thanks!