InnoVest Resource Management's Foreclosure Forum

Discussion Board Foreclosure Training Title Holding Trust Speaking Schedule Foreclosure Codes 50 State Foreclosure Basics Foreclosure Glossary 60+ Yrs Interest Rates News & Trends FAQ Dingbat Retirement Plan Links Contact / Map Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] can't sell home has been on market since Nov. 2000 about to lose it? what to do?? Posted by teacher in MS on October 10, 2001 at 6:42 PM Been experiencing financial problems for a while now. Long story short, we put our house up for sale with a local realty last November(2000). We have lowered the asking price 5 times now all the way to the bottom where if we did sell it now we would get nothing but the payoff on the note and absolutely no equity. The house is appraised at around 105,000.00 and payoff is 94,300. We are 3 months delinquent + next month coming and know that foreclosure is inevitable if we don't sell. We don't want the stigma of having our house auctioned off the courthouse steps and advertised in our small town newspaper. Can we give the house back in a "deed in lieu of foreclosure" as I have read a little about on this site?? We do not have any other liens on this property. Any answers??? Follow Ups: Re: can't sell home has been on market since Nov. 2000 about to lose it? what to do?? will delp 8:18 AM, 10/24/01 (0) Re: Yes, a deed-in-lieu is a viable solution Ward-CA- 6:23 AM, 10/11/01 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Been experiencing financial problems for a while now. Long story short, we put our house up for sale with a local realty last November(2000). We have lowered the asking price 5 times now all the way to the bottom where if we did sell it now we would get nothing but the payoff on the note and absolutely no equity. The house is appraised at around 105,000.00 and payoff is 94,300. We are 3 months delinquent + next month coming and know that foreclosure is inevitable if we don't sell. We don't want the stigma of having our house auctioned off the courthouse steps and advertised in our small town newspaper. Can we give the house back in a "deed in lieu of foreclosure" as I have read a little about on this site?? We do not have any other liens on this property. Any answers??? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Copyright © 1997-2001, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455