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Home > Money & Services > Mortgages   »   How to sign your house back to the bank

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Old Oct 30, 2009, 01:15 PM
dashleys
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How to sign your house back to the bank
My boyfriends was living in a moble home and could no longer make the payment so he moved in with me, now his mortgage company keeps harrassing him and all he want to do is sign it back but they wont send him the paperwork. Is there anywhere he can go to get the bank to take it back?

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Old Oct 31, 2009, 05:06 AM   #2  
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Yes - its called foreclosure and I assure you, he doesnt need to sign anything for it. They will eventually come take it.
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Old Oct 31, 2009, 05:31 AM   #3  
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He can't just give it back and walk away. First the bank doesn't have to take it back, they want their money not property. Eventually they will foreclose on the loan and then auction the asset off. Then go after him for the balance he owes after deducting what they got at auction and adding fees and interest.

He needs to try and sell it, maybe arrange a short sale or rent it or something.
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