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Does the same explanation apply to real estate that has been divided into building lots, approved by the county but has not been developed because of the difficult housing economy and now the builder's hardship?

smithsussane · Posted: Mon Jun 07, 2010 8:40 pm Post subject:

Hi wef!

Welcome to forums!

If the builder has taken out a mortgage and cannot pay off the mortgage dues now, he can contact his lender and apply for a deed in lieu of foreclosure. It will be solely the lender's discretion whether or not he would agree to the builder's request.

Feel free to ask if you've further queries.

Sussane

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deed in lieu of foreclosure in MD.