Posted on: 20th Jan, 2011 05:14 pm
I have several investment properties and I'm not able to keep up with the mortgages. Several of the properties are vacant and I just cant continue to pay the mortgages. What is my best option?
Hi teresadgraham,
You can list the properties in the market and try to sell them off. If you're unable to sell off the properties, then you can apply for a deed in lieu of foreclosure with your lender which will not only help you in getting rid of the properties but you won't be liable for the deficient balance resulting from the property sale.
You can list the properties in the market and try to sell them off. If you're unable to sell off the properties, then you can apply for a deed in lieu of foreclosure with your lender which will not only help you in getting rid of the properties but you won't be liable for the deficient balance resulting from the property sale.