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deed of luie

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nicholelynn12 Joined: 26 Apr 2010 Posts: 1 1.00 Dollars($)	Posted: Mon Apr 26, 2010 3:39 pm    Post subject: deed of luie Like 0 Dislike 0 I was wondering about the deed in lieu we have had our house on the market for 159 days with no luck. we owe more on the house than it's worth, house in the development where we live houses that have more square feet than our are selling for less plus there has been a lot of foreclosure. We can;t afford to pay the mortgage any more due to me losses my job and we will be moving soon out of state. We know it will hurt our credit but already have a place that we are renting to own. We called the bank but they don't want to help, what should we do.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Apr 27, 2010 10:49 pm    Post subject: Like 0 Dislike 0 Hi nicholelynn, A deed in lieu of foreclosure will be a good option for you to get rid of the property. It will not only help you in selling off the property, but you won't be responsible for paying the deficient balance resulting from the sale of the property. Did the lender give you any reason as to why he won't accept your request for a deed in lieu of foreclosure? I would suggest you to negotiate with your lender and convince him to accept the request. Thanks

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