I need advice for a family member. They are trapped in a property. It is a single family home with detached garage and an acre along a stream (in a really good school district), but it is in the flood zone. Their flood insurance effectively doubles their mortgage. Plans to raise the house quickly got out of budget. A real estate agent told them the place is basically unsellable. The house needs work that they are not wanting to do, but the insurance limits the spending because they need to get out of the house. They have been in contact with our states arm of FIMA for some grant that would let them jump ship, but this process is going on 18 months of waiting.
Currently they are looking into how damaging foreclosing on the property would be. They don’t have kids, don’t need to make money on the property, don’t need anything other than the joy of moving on because right now they are completely trapped and it is taking a toll on them. Does the hive mind have any recommendations on how to amputate yourself from an unwanted property? SE PA