Posted on: 09th Nov, 2010 07:16 am
We can afford our mortgage, but cannot afford the repairs on the house. It was built improperly. The bank wants it on the market for 3 months. We cannot sell it the way it is and again cannot afford the repairs it would take to sell it. Is there a way around this. We really do not want to forclose. We are on a deadline as we are a military family. Only a couple of years left. We were scammed on this house. (there are tree stumps under it)!
Hi sweetronna,
You can apply for a deed in lieu of foreclosure in order to get rid of the property. However, your lender will have to agree to it. In that case, too, you'll have to list the property in the market for 3 months.
Thanks
You can apply for a deed in lieu of foreclosure in order to get rid of the property. However, your lender will have to agree to it. In that case, too, you'll have to list the property in the market for 3 months.
Thanks