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Foreclosure

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Guest	Posted: Mon Mar 29, 2010 7:40 pm    Post subject: Foreclosure Like 0 Dislike 0 Well my house is going into foreclosure and i dont want to stay in the house anymore i tried to get help and was turned down numerous times and im just sick of dealing with , not getting help with my mediator. Its hard for me to pay im 30,000.00 i have several medical issue and have a job that could be in jeopardy im not sure really what to do i should i do DIL. To be honest i just want out and start over fresh
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Mar 29, 2010 10:33 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! You can definitely apply for a deed in lieu of foreclosure with your lender. You should inform him about your financial situation and request him to accept a deed in lieu of foreclosure for your property. If the lender accepts it, then you won't be liable for the deficient balance resulting from the sale. But you should remember that this will have a negative effect on your credit report. Your score would get reduced by 250 points and you won't be able to get a loan in the next 3-4 years. Feel free to ask if you've further queries. Sussane

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