Posted on: 17th May, 2010 05:01 pm
our property has been for sale and we cannot sell and do not wish to keep it so we are looking at a deed in lieu of foreclosure, as the current market value is more than our loan. do we begin with the lender or do we secure an escrow company first? also, we live in nevada and the property is located in florida. does our representation have to be in florida or can we do it from nevada?
Hi kathleenbischoff!
Welcome to forums!
As the property is located in Florida, your representation should have to be in Florida. In order to get a deed in lieu of foreclosure, you will have to contact your lender first. If your property has equity in it, then I don't think that the lender will be ready to consider your request for a deed in lieu of foreclosure.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As the property is located in Florida, your representation should have to be in Florida. In order to get a deed in lieu of foreclosure, you will have to contact your lender first. If your property has equity in it, then I don't think that the lender will be ready to consider your request for a deed in lieu of foreclosure.
Feel free to ask if you've further queries.
Sussane