Need to Deed a House back to the bank
Asked Aug 14, 2006, 08:31 AM
I currently own 2 properties and I need to sell one of them. It is a condo in Howell MI. We have tired everything to try and sell the property from paying closing costs to increasing the commission for the agents selling or buying the property. We have run out of ideas and money and now we need to do something and quick. We have heard about deeding the mortgage back to the mortgage company but I have no idea how it works and if it is even worth the effort let alone where to start. We have excellent credit and do not want to lose it but we are not sure how to "get rid" of the mortgage without going through bankruptcy or forcloser. Anyone out there know what I should do next?