Posted on: 30th Jul, 2010 02:05 pm
We have been trying to sell our home in Michigan for 15 months since moving to AZ for a new job. No offers, and my husband has to have back surgery $8,000 out of pocket. We have tried to be responsible by paying out mortgage of $995 per month on time, but can no longer afford to pay our mortgage. We just want to walk away but don't think we qualify for deed-in-lieu. We don't care about our credit, as we live on the Navajo reservation for free. What can we do?
hi hubbardd,
as you're facing a financial hardship and would be unable to pay the mortgage dues any further, you should apply for a deed in lieu of foreclosure with the lender. though you should be 2-3 months delinquent on your mortgage payments for a deed in lieu of foreclosure, yet the lender may consider your request if you can prove your financial hardship.
as you're facing a financial hardship and would be unable to pay the mortgage dues any further, you should apply for a deed in lieu of foreclosure with the lender. though you should be 2-3 months delinquent on your mortgage payments for a deed in lieu of foreclosure, yet the lender may consider your request if you can prove your financial hardship.