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Hi I am currently the owner of a property that is located in a different city than where I am living now. I have been unsuccessfully trying to sell this house for some time now. I heard about a company that offers to release me of the burden of this house and release me of the financial responsibility to the house. It all sounds good but so far all I have been asked to do is sign over the grand deed. There has been no correspondence yet to my knowledge between this company and my lenders. They assure me though that all I have to do is sign over the deed and they will take care of everything else. I am not sure that I want to do this as it sounds a little peculiar. I How can I be sure that they will take on the financial burden and release me from it? I just don't want to be sued in the end the these two lenders when the smoke settles. If I saw some correspondence between these guys and my lenders then I may feel more at ease.

jameshogg · Posted: Sun May 15, 2011 9:39 pm Post subject:

Hi Gilbert,

I will suggest you to not transfer your property to the said company. If they are a scam company, then they will take the property from you and you'll still remain liable for paying the mortgage. Thus, the financial burden will still remain.

I will suggest you to contact your lender and apply for a deed in lieu of foreclosure in order to sell off the property.

Thanks

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signing over a grand deed

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