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Tax ramifications of deed in lieu of foreclosure

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Tasha Guest	Posted: Thu Sep 08, 2011 10:40 am    Post subject: Deed in lieu of foreclosure, deceased estate Like 0 Dislike 0 What happens when you are a personal representaive of a deceased person estate (real property) there is no personal assets. The property is given back to the mortgage co, as a deed in lieu of foreclosure. There is not enough in the short sale of the property to cover the balance.? Also due to heirs of which one can not be located. the mortgae company has ask the rep to file a petition with probate court for deed in lieu of foreclosure, can this be done?
smithsussane Joined: 18 Sep 2008 Posts: 10437 Location: Alaska 985.55 Dollars($)	Posted: Thu Sep 08, 2011 10:27 pm    Post subject: Like 0 Dislike 0 Hi Tasha! Welcome to forums! Your query has been replied to in the given page: http://www.mortgagefit.com/know-how/about53059.html . Take a look at it. I hope it will help you. Sussane

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