Long story short.. we filed BK in 2009 and did not reaffirm the Mortgage. We decided to walk and the Sheriff sale is scheduled for end of Aug. However, Seterus is sending letters asking for a deed in lieu of foreclosure possibly paying us to leave early. Any thoughts on this? I be willing to entertain this. I am just not sure if there are any repercussions I should be aware of given the house was discharged in Bankruptcy.
There are really no repercussions of going either route as you are no longer technically responsible for the mortgage and cannot be held liable for a deficiency judgement. But are you sure they are going to offer you money to complete the deed in lieu or are they saying you will receive money for relocation assistance? If so, be aware that you can receive the same type of assistance through cash for keys even if you do just walk away from the home..Originally Posted by tuscani
Keep Fighting!
Evan Bedard
LoanSafe.org Support Team
The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.
Posting Permissions
Reply With Quote
Bookmarks