Posted on: 13th Aug, 2009 05:23 pm
We filed For bankruptcy and it was complete in May, The forcloser has started and sheriff's sale is scheduled for December. The Mortage company has asked for a deed in leiu of forclosure'. What is a good amount to start with?
Hi warnersmiles!
Welcome to forums!
You will have to check out the value of your property first and then you can decide regarding the amount to start off the sale. You can consult your lender and he would also help you in deciding the right amount to start off the sale procedure.
Sussane
Welcome to forums!
You will have to check out the value of your property first and then you can decide regarding the amount to start off the sale. You can consult your lender and he would also help you in deciding the right amount to start off the sale procedure.
Sussane
So if my house appraises at $150,000 and I have already filed bankruptcy. What number should I concider starting a deed in leiu at?
CHECK CURRENT RATE OF PROPERTY IN YOUR AREA TO GET IDEA ABOUT THE AMOUNT AFTER BANKRUPCY.
Hi Sandra!
Welcome to forums!
If your property has been appraised for $150,000, then you should list the property at the same amount in the market. However, you've mentioned that you have filed for bankruptcy. Have you included the property in bankruptcy?
Sussane
Welcome to forums!
If your property has been appraised for $150,000, then you should list the property at the same amount in the market. However, you've mentioned that you have filed for bankruptcy. Have you included the property in bankruptcy?
Sussane