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asset protection

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lt360 Joined: 03 Jun 2010 Posts: 1 1.00 Dollars($)	Posted: Thu Jun 03, 2010 4:32 pm    Post subject: asset protection Like 0 Dislike 0 I have several inv props in Fl with over a million underwater in f/c process.Ist one for f/c Monday.I have other cash assets that I'd like to use to by myself a homestead and keep from pending judgements.Wanted to avoid bk for now to keep other assets.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Jun 03, 2010 8:47 pm    Post subject: Like 0 Dislike 0 Hi lt! Welcome to forums! As your properties are underwater and facing foreclosure, I would suggest you to contact your lender and apply for deed in lieu of foreclosure. As the lender will not come after you for the deficient balance, your other properties will be safe. Feel free to ask if you've further queries. Sussane

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