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I have a investment property that I can nolonger aford to keep. I was told by the bank take I would have to put it up for sale. It has been on the market for six months. I finally received a offer and the bank rejected because they are saying they do not approve short sales on investment property. They also say they will not accept deed in leiu and forecloser and bk are my only option. How true is this

adonis · Posted: Mon Nov 02, 2009 11:18 pm Post subject:

Hi eekk,

Rules can differ from bank to bank. You may try once again and negotiate with the bank for a deed in lieu of foreclosure. If the lender does not agree to it and if you stop paying the debts, then the lender would foreclose the property.

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Deed in leiu