Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

What would work better for me a deed of lieu of or selling to an investment group

Posted on: 10th Mar, 2009 07:48 am
what would work better for me a deed of lieu of or selling to an investment group...i live in pittsburgh, pa & am a 55 yr old divorced female with an 11 yr old son to support. i currently have an adjustable mortgage and was told that i did not qualify for refinancing. the house is over a 100 yrs. old & needs a lot of work that i can't afford to have done. with the current market & owning a less desirable home, i don't think it will sell. my utilities are noticeably higher this year as my gas bill for the month of february was over $600, which is more than my mortgage. add that to the rest of my utilities plus the cost of food & other basic necessities i can't afford to stay here any longer. because of a lay off 6 yrs ago my salary went from $43,000 yr to $26,000. i also got divorced during that time & subsequently filed bankruptcy. although my mortgage has not been late, i feel it would be better for me to rent at this time. would a deed in lieu of foreclosure be my best option or should i try contacting those investment groups who advertise that they buy homes for cash?
"those investment groups" are scam artists. however, if you can truly negotiate a sale of your home to one of them, at a reasonable price, then go ahead and shout Hallelujah at the top of your lungs.

renting your home would be a viable alternative if you can find a qualified tenant.
Posted on: 10th Mar, 2009 08:03 am
Page loaded in 0.056 seconds.