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Is sherriff sale or deed in lieu possible?

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tera_eiss Joined: 16 Nov 2009 Posts: 1 1.29 Dollars($)	Posted: Mon Nov 16, 2009 8:23 pm    Post subject: Is sherriff sale or deed in lieu possible? Like 0 Dislike 0 My house was bought by the bank at a sheriff sale in early October. Are short sale or Deed in lieu still options? The house has a lot of equity. The loan modification was never approved and we really can't afford the mortgage regardless. Thank you!!
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Mon Nov 16, 2009 10:20 pm    Post subject: Like 0 Dislike 0 if your lender owns your home, you can't very well sell it. that's pretty much it. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Mon Nov 16, 2009 10:27 pm    Post subject: Like 0 Dislike 0 Hi tera, A deed in lieu is not an option for you in this situation. The house has been foreclosed and sold off at sheriff sale. The bank has bought the property and is the current owner. You no longer have any right to the house. Thus, you can neither short sell the property nor do a deed in lieu on it.

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