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| Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? Need Help with a deed in lieu of foreclosure AKA Take this Home & Shove It! You are not alone. We thought we would add this section to the forum to assist the homeowners that have made the tough decision to walk away from their homes. This is America and you have the right to walk away from contracts and your home. The question is what implications will you suffer for saying, "Take this home and shove it, I aint paying you no more!" Find out the good, the bad and the ugly. |
This is a discussion on Short Sale with special assessment within the Deed in Lieu of Foreclosure - Do You Need Help to Walk Away? forums, part of the Stop Foreclosure and Tell Us Your Story category; Last year my condo was hit with a $1.3 million dollar assessment leaving each of the homeowners responsible for 56K. ...
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| Junior Member Join Date: Apr 2009
Posts: 1
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Short Sale with special assessment Last year my condo was hit with a $1.3 million dollar assessment leaving each of the homeowners responsible for 56K. Since I didn't have that much cash or equity I have been making ridiculous monthly payments that I can no longer afford and they go up in June. I want to avoid foreclosure at all costs and am looking at a short sale. Does anyone know what happens to the 56K during this process? Am I still responsible for it? Is the buyer? My lender? Any help you can provide is appreciated. There is currently no lien on property. Thank you! |
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| condo, hoa, short sale, special assessment |
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