Posted on: 16th May, 2010 08:12 pm
i have a mortgage on a home i no longer live in and is worth less than what i owe. I was thinkning of doing a deed inleiu or letting the bank forclose. but was wondering would the bank consider switching it to another home?
DIL and forecloser both will lead towards minimizing your credit score so according to me switching to another home could be a nice option.If your bank agrees to this option,then better switch your home.
thanks
gunz.ijjistaff :arrow:
thanks
gunz.ijjistaff :arrow:
Welcome la_bas_ai,
Your query has been replied to in the given page:
http://www.mortgagefit.com/problems/place-lien-house.html
Take a look at it. Hope it helps you.
Your query has been replied to in the given page:
http://www.mortgagefit.com/problems/place-lien-house.html
Take a look at it. Hope it helps you.
i talking as in switching one bank note to another home instead of going through the hassle of selling the other just say Hey bank take this one and put that note on this home instead.
No, you cannot switch the note from one property to another. The Deed is legally tied to a particular address and parcel. It is not legally possible.
Carolyn Warren, author
Homebuyers Beware: Who's Ripping You Off Now?
Carolyn Warren, author
Homebuyers Beware: Who's Ripping You Off Now?