Posted on: 03rd May, 2010 02:16 pm
I have 2 rental properties that have not been taken back by the bank, 1 they canceled the sale, the other was with a bank and now that bank is owned by another bank. They are empty and I no longer carry insurance on them because I could not afford it. Should I go to the bank and offer a deed in lieu? thanks
Hi relentless!
Welcome to forums!
As the property and the mortgage is still in your name, then you should contact your lender and definitely apply for a deed in lieu of foreclosure. Depending upon your situation, the lender will accept your request.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the property and the mortgage is still in your name, then you should contact your lender and definitely apply for a deed in lieu of foreclosure. Depending upon your situation, the lender will accept your request.
Feel free to ask if you've further queries.
Sussane
Thanks for your help!
the property in question was owned by husband and wife. The mortgage was only in the name of the wife. and had no witnesses to the signing. The mortgage has been sold from one bank to another. Is this a legal morgage?
Hi Guest,
If the wife's name is mentioned on the mortgage docs, then she will be liable for the mortgage dues. If the document has the wife and the lender's signature, then it will be considered as legal.
If the wife's name is mentioned on the mortgage docs, then she will be liable for the mortgage dues. If the document has the wife and the lender's signature, then it will be considered as legal.