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Foreclosure Forum |
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Re: Consequences of a "subject to" transaction.In Reply to: foreclosure posted by paul on February 20, 2002 at 7:00 PM
: Could someone please tell me what my options are: =========== Paul, Looks like you have two primary options. One is to deal with the investor and the other is to continue what you might be doing with the lender to ameliorate your foreclosure situation (deed-in-lieu, forebearance agreement, short sale, etc.) Allowing the investor to take title to the property without formally assuming the responsibility for the loan and its repayment to the lender might allow you an escape from the impending foreclosure, but a subject to loan arrangement leaves your credit open to be sullied by the non-performance of the investor or her successors in interest, for the balance of the term of your loan. That might be a long time.
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