Posted on: 03rd May, 2010 12:18 pm
I had a HELOC with a bank and had to let it go. It was a rental and just couldn't keep up. The bank has been bought by another bank and they have not done anything as far as foreclosure. The home has been empty and I was considering bankruptcy but should I do a Deed in lieu now?
Thanks
Thanks
Hi Guest!
Welcome to forums!
You can definitely apply for a deed in lieu of foreclosure with your lender. Depending upon your financial situation, the lender will let you know whether or not your request will be accepted. If the lender accepts your request, then you will be able to get rid of the property and you won't be liable for the deficient amount.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can definitely apply for a deed in lieu of foreclosure with your lender. Depending upon your financial situation, the lender will let you know whether or not your request will be accepted. If the lender accepts your request, then you will be able to get rid of the property and you won't be liable for the deficient amount.
Feel free to ask if you've further queries.
Sussane