Posted on: 16th Sep, 2009 08:52 am
Which is better? deed in lieu or forclosure.
I would like this to be over before 2009 ends so I can put it on my taxes.
This is an investment property in Houston and I live in California. I just want to get rid of it.
Will the bank go after the deficiency? Will I need to hide my money so they get go after it? will I have to pay taxes on the defiecency?
Thanks
I would like this to be over before 2009 ends so I can put it on my taxes.
This is an investment property in Houston and I live in California. I just want to get rid of it.
Will the bank go after the deficiency? Will I need to hide my money so they get go after it? will I have to pay taxes on the defiecency?
Thanks
Hi snmsk4,
Welcome to forum.
In opinion deed in lieu if better option for you, Foreclosure effects your credit score badly so try stronglty to avoide foreclosure. In period of deed luie try to collect money to pay to lender.
Thanks & Regards
gunz.ijjistaff
Welcome to forum.
In opinion deed in lieu if better option for you, Foreclosure effects your credit score badly so try stronglty to avoide foreclosure. In period of deed luie try to collect money to pay to lender.
Thanks & Regards
gunz.ijjistaff