Ask Experts Questions for FREE Help !
Ask
    ChrisnL's Avatar
    ChrisnL Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 2, 2007, 06:56 PM
    Deed in lieu of foreclosure
    I have 2 rental properties in Arizona that are vacant, and a undeveloped piece of commercial land. Can I do a deed in lieu of on all 3 of these properties, since none of them have sold in the last year, or is a foreclosure a better way to go?
    Miker70's Avatar
    Miker70 Posts: 2, Reputation: 1
    New Member
     
    #2

    Feb 20, 2008, 07:24 AM
    A deed in lieu is always the first and last thing that is offered to the lender of record, but, the lenders response will nearly always be try and sell the property in a short sale condition for at least 90 day's, then we will talk about a deed in lieu. The last thing the lender wants is the property back, it costs them $57,000 per property to foreclose on you, so the last thing they want is your property, but for you to do whatever it taks to sell it first. Let me know if I can be of help to you regarding this matter. I am a realtor in Arizona that only works with people that are either facing or heading for mortgage default.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Deed in lieu of foreclosure [ 1 Answers ]

We have purchased a home here in Louisiana approx 4 years ago. The home is only 6 years old and has flooded 4 times. These are not only floods with hurricanes but average Louisiana rains. We have drainage issues in the neighborhood that no-one will correct. We have hired attorneys to go after...

Is deed in lieu of foreclosure my only way out [ 1 Answers ]

I was going through nasty divorced when asked by friend if I could help out his house Was being foreclosed on.Agent for bank contacted me who I knew I told him I did not Want to do this. He invited me to restaurant where after few drinks I was handed papers To sign.I told him I did not want to...


View more questions Search