Posted on: 01st Sep, 2009 11:27 am
i bought my home for $40,000, personally put over $10,000 in upgrades and appliances in it, have an equity loan attached to it (total debt, mortgage and loan ~$75,000), and now i'm looking to a deed in lieu of foreclosure as my only real option to avoid foreclosure.
is it legal to remove appliances i added, plus any upgrades/improvements that won't do damage to the house to remove (i.e., decorative fencing, chandeliers, stove, dishwasher, etc.; but not new windows, carpeting, etc.), before the dil finalizes?
is it legal to remove appliances i added, plus any upgrades/improvements that won't do damage to the house to remove (i.e., decorative fencing, chandeliers, stove, dishwasher, etc.; but not new windows, carpeting, etc.), before the dil finalizes?
i think you run the risk of being held accountable for those things you remove...what's that mean in the long run? who knows!
Define "accountable"? The items I'm thinking of removing were not there when I BOUGHT the house
i really don't know how your lender might look at your removal of items, but simply wanted to point out that they might take umbrage. what "accountable" means in that sense i also do not know. as for the legality, only someone versed in the law would be able to provide that expertise.