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Have been relocated. Cannot sell our house. Can we give our house back to the lender? How will that affect our credit (which is good)?

brian1 · Posted: Fri Aug 29, 2008 8:40 pm Post subject:

Not going to be good on credit unless you sell and pay off in full.
The lender didnt buy the home and they do not want it. If you cant sell neither can they without taking the loss.
Good Luck

Niicss · Posted: Sat Aug 30, 2008 3:35 am Post subject:

Welcome guest.

Agree with brain that you should try to sell the property so that you can pay off the mortgage company. If you cannot sell the consult with the you can offer the lender deed in lieu of foreclosure. by the way, deed in lieu will have similar negative affect on your credit like foreclosure. Know more about the options to avoid foreclosure at 17 ways to protect yourself from the foreclosure trap

Niicss · Posted: Sat Aug 30, 2008 3:36 am Post subject:

Welcome guest.

Agree with brain that you should try to sell the property so that you can pay off the mortgage company. If you cannot sell the consult with then you can offer the lender deed in lieu of foreclosure. By the way, deed in lieu will have similar negative affect on your credit like foreclosure. Know more about the options to avoid foreclosure at 17 ways to protect yourself from the foreclosure trap

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Can we give our house back to our lender?