My husband and I have decided to surrender the deed to our house due to he's out of work at the moment. We have a infant in the home as well as a 11 yr old boy. Is there any law that will give us some time to find another place. We have a large home so t here is much to pack.

Hello n:

Foreclosure usually takes months. Try to sell.

excon

Exxon, you said sell, do we not need the lenders permission to sell?

Hello again:

No. All they want is their money. If you sell, they'll get it. Everybody's happy. End of story.

excon

You have to find out what your house is worth selling for. Call a local realtor. They can help you. Hopefully your house can sell for more than you owe. Good luck.

Quote:

---

Originally Posted by ndrury

my husband and i have decided to surrender the deed to our house due to hes out of work at the moment. we have a infant in the home as well as a 11 yr old boy. is there any law that will give us some time to find another place. we have a large home so t here is much to pack.

---

How far behind are you in the payments? Maybe all you need is a little time to recover. Yes, putting the house up for sale is the best answer. Hopefully you will be able to sell and downsize. But here is another direction. It is best told in a true story: I live in an extremely nice development of custom built homes. A family built a beautiful home about five doors down from me. He financed the house and never made a payment. He filed bankruptcy which made him "a protected class". This kept the bank from foreclosing on the property. There is a criteria a person has to follow to file and complete the bankruptcy. The home owner and his attorney moved as slowly as they could. Eventually the bankruptcy court dismissed the bankruptcy because the homeowner did not meet the criteria. It took the bank several months to figure out that the bankruptcy was dismissed (not discharged, don't confuse the two). They again attempted to foreclose on the house. The homeowner again filed for bankruptcy. This went on for 2 years! If you filed either a Chapter 7 or Chapter 13 bankruptcy you could bide enough time to get back on your feet or sell the property. There is only one word that a bank or mortgage company thinks is worse than bankruptcy and that word is foreclosure. Thoughts?