Posted on: 15th Sep, 2008 11:10 am
i purchased a home right after my divorce only and did a poor job of inspecting the quality of the house. i have had the house on the market for two years and have dropped the price $25k but the house won't sell. i need to move on with my life. would the deed in lieu of foreclosure be a good option for me? my girlfriend wants to buy a house so i think i'd be able to build my credit back up while living with her. could they go after my truck (i am making payments on a car to go back and forth to work) or my atv?
Hi Jonsi,
You can go for a deed in lieu if you'd like to move out. I guess you don't have to pay for any deficiency. The lender won't come after your truck or any personal property. Know how a deed in lieu works before you talk to the lender about it.
Take care
You can go for a deed in lieu if you'd like to move out. I guess you don't have to pay for any deficiency. The lender won't come after your truck or any personal property. Know how a deed in lieu works before you talk to the lender about it.
Take care
Hello Jonsi, You need to seek professional advice. There options available to you.