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Rental Property - Foreclosure or Deed in Lieu of Forclosure?

Posted on: 15th Jan, 2009 06:46 am
hi...i'm current on a rental property that i'm upside down on. i have not been able to find a new tenant for months. i have a first mortgage at about $10k under the value, plus a second mortgage that is $35k. i can't keep makinig payments -- it leaves me little money and i end up using credit cards so i'm going deeper into debt. what is my best option, deed in leiu or forclosure? for either, don't you have to be behind on payments.
Hello jmackey61,

cliff comment1
cliff comment2

Let us know if you still have questions.

Good luck.
:D

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Posted on: 15th Jan, 2009 08:33 am
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