Posted on: 29th May, 2010 10:43 am
My Mother is ill we are both on the mortgage. I had to quite my job to take care of her so now we can't afford the mortgage. Wanting to quick deed the place back to bank.
What is involve in something like this and how much will it cost
What is involve in something like this and how much will it cost
welcome teacup,
if you want to surrender the property to the bank, then you can apply for a deed in lieu of foreclosure. if the lender accepts it, then you will have to quitclaim the property to him. the cost may vary from state to state. however, a deed in lieu of foreclosure will lower your mother's credit score by 250 points.
if you want to surrender the property to the bank, then you can apply for a deed in lieu of foreclosure. if the lender accepts it, then you will have to quitclaim the property to him. the cost may vary from state to state. however, a deed in lieu of foreclosure will lower your mother's credit score by 250 points.