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positive equity rental,return to bank

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ae6nn Joined: 06 Sep 2010 Posts: 2 1.63 Dollars($)	Posted: Mon Sep 06, 2010 1:35 pm    Post subject: positive equity rental,return to bank Like 0 Dislike 0 I have a positive equity rental with negative cashflow. I like to return property to lender. Is this possible. If so how?
jameshogg Joined: 20 Dec 2005 Posts: 10164 Location: Nevada 944.24 Dollars($)	Posted: Tue Sep 07, 2010 11:49 pm    Post subject: Like 0 Dislike 0 Hi ae, If you're facing hardship in paying the mortgage dues, you should contact the lender and apply for a deed in lieu of foreclosure. If the lender is convinced by your hardship, he will accept your request. This will help you in getting rid of the property and you won't be liable for paying any balance amount to the lender. Thanks
ae Guest	Posted: Wed Sep 08, 2010 4:56 pm    Post subject: positive equity rental,return to bank Like 0 Dislike 0 why can I not just return the keys. Should be no charge off since I have positive equity. Thnx
smithsussane Joined: 18 Sep 2008 Posts: 10031 Location: Alaska 919.60 Dollars($)	Posted: Wed Sep 08, 2010 9:54 pm    Post subject: Like 0 Dislike 0 Hi ae! Welcome to forums! Your query has been replied to in the given page: http://www.mortgagefit.com/problems/deedinlieu-returnkeys.html Take a look at it. Hope it helps you. Sussane

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