Why can’t he rent out the house out? We did that a couple of years back when we could not sell it. We have a great lady living there. Sure, sometimes it is a pain being a landlord, but it pays the mortgage and keeps us up to date with our obligations to our mortgage company.
FWIW, I rented a house for around $1500 that, had I bought at or near the peak of this housing debacle, would have had a $3,500 mortgage (including RE taxes), and it STILL has a rental value of $1,500.
Why can’t he rent out the house out?
I did the same while I was unemployed.