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I can not afford to pay my land loan. What should I do?

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Guest	Posted: Mon Jun 27, 2011 10:51 am    Post subject: I can not afford to pay my land loan. What should I do? Like 0 Dislike 0 Hi, I own a lot in a development that I am not able to pay for any longer. I have tried to sell the lot, but the property values have dropped drastically. The company we purchased from 4 years ago just had a clearance sale and drastically cut prices on the remaining lots. I know that this is going to affect my value even more. What should I do?
raymond Community Expert Joined: 03 Jul 2009 Posts: 1183 Location: Irvine, California 27.07 Dollars($)	Posted: Mon Jun 27, 2011 12:58 pm    Post subject: Like 0 Dislike 0 If it were me, I'd offer the Lender the Deed back, in lieu of foreclosure. If the Investor doesn't accept it, and you can't afford the land, or sell it, the remaining solution is foreclosure. _________________ Raymond Denton www.RaymondDenton.com

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