Posted on: 13th Aug, 2008 03:17 pm
when i closed on my house, i do not remember receiving a "deed" per say, or specifically. can i still pursue the deed in lieu of foreclosure?
my neighbor has inquired about the house and is interested in buying the house; would a short sale be in order here? :?
thanks in advance,
bob
my neighbor has inquired about the house and is interested in buying the house; would a short sale be in order here? :?
thanks in advance,
bob
Welcome bravoroc,
You can go for a short sale if you are able to get enough cash in order to pay off the mortgage to a certain level so that you don't have to pay enough for the deficiency. However, I suppose it's a purchase mortgage, so there are chances that you may not even have to pay the deficiency. but a lot depends upon your state of residence. In which do you reside?
You may refer to http://www.mortgagefit.com/deedinlieu/affectcredit.html#crediteffects and find out which is better - short sale or deed in lieu.
You can go for a short sale if you are able to get enough cash in order to pay off the mortgage to a certain level so that you don't have to pay enough for the deficiency. However, I suppose it's a purchase mortgage, so there are chances that you may not even have to pay the deficiency. but a lot depends upon your state of residence. In which do you reside?
You may refer to http://www.mortgagefit.com/deedinlieu/affectcredit.html#crediteffects and find out which is better - short sale or deed in lieu.