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ADAMPURCHASING · Joined: 10 Nov 2009 Posts: 1 1.26 Dollars($)

I HAVE THREE INVESTMENT HOMES, ALL THREE HAVE TAKEN BIG HITS FROM TENENTS & CRIME. I HAVE SPENT 30,000 TRING TO KEEP THEM RENTED. THEY ARE ALL VACANT. TRIED TO SHORT SALE NO OFFERS. HOW DO I PROCEED WITH A DEED IN LIEU?

savior70 · Posted: Wed Nov 11, 2009 4:30 am Post subject:

Hi,

If your property is listed on the market for some time and there has not been any short sale offer for the property, you can request your lender to accept a deed in lieu of foreclosure. You can send them a hardship letter stating the financial difficulty you're facing de to your inability to short sell the house. If the lender accepts the deed in lieu request, you can sign over the property to them and let them sell it in the market.

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